Commodity Pick Report
Morning Call: January 20, 2010
“The money’s made in the sitting and the waiting, not the trading.” – Jesse Livermore
“There’s nothing wrong with being choosy” – Erich Senft
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Welcome to Commodity Pick Report!
Commodity Pick Report gives you my best hand picked trades for each week. The trades are classified according to their probability of success, with low risk trades having the greatest probability of success and high risk trades the least. There are trade management suggestions for open positions. and profit targets are offered for your consideration but I would advise you to adjust recommendations to suit your own circumstances.
Remember the key to making money in trading does not require taking numerous trades; rather the best way to make money is to take multiple contracts on the most promising trades. Note: CPR trades do not account for slippage; therefore your actual fills might be slightly different than those reported here.
Here’s to your success!
Erich
erich@tradershelpingtraders.com
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Position Trades
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1: CURRENCIES
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March Australian Dollar ADH0
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The Aussie Dollar didn’t do much for Tuesday but I’ll re-run the order for Wednesday.
If the March Australian Dollar opens at or above 9150
SELL 2 March Australian Dollar at 9143 (stop)(day)
If filled: Exit Stop: 9281 (stop)(GTC)
Approximate Risk: $1380 per contract
Profit Target: 9023 (limit)(GTC)
Approximate Profit: $1200 per contract
Degree of Risk: Moderate to HIGH
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March British Pound BPH0
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FLAT
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March Canadian Dollar CDH0
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Ditto for the CD which got close to our entry, but not quite close enough.
If the March Canadian Dollar opens at or above 9700
SELL 2 March Canadian Dollar at 9687 (stop)(day)
If filled: Exit Stop: 9787 (stop)(GTC)
Approximate Risk: $1000 per contract
Profit Target: 9587 (limit)(GTC)
Approximate Profit: $1000 per contract
Degree of Risk: Moderate to HIGH
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March EuroFX ECH0
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FLAT
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March Japanese Yen JYH0
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We can adjust the trailing stop on our Yen trade a bit for Wednesday, just in case this resistance continues to hold.
CONTINUATION of Long March Japanese Yen at 108.63 (January 11)
Exit Stop: 109.59 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 109.83 (January 12)
Approximate Profit: $1500 per contract
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March Swiss Franc SFH0
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FLAT
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March US Dollar Index DXH0
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We got filled on the USD trade and a strong close makes it look promising for Thursday.
CONTINUATION of Long 2 March US Dollar Index at 7773 (January 19)
If filled: Exit Stop: 7683 (stop)(GTC)
Approximate Risk: $900 per contract
Profit Target: 7853 (limit)(GTC)
Approximate Profit: $800 per contract
Degree of Risk: Moderate to HIGH
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2: FINANCIALS
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———-
September Eurodollar EDU0
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FLAT
———-
March 30 Year T-Bond USH0
———-
FLAT
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3: GRAINS
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January Canola RSF0
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Canola is showing support (as expected) so I’ll run the trade again for Thursday.
BUY 2 March Canola at 3870 (stop)(day)(limit)
If filled: Exit Stop: 3780 (stop)(GTC)
Approximate Risk: $180 per contract
Profit Target: 4000 (limit)(GTC)
Approximate Profit: $260 per contract
Degree of Risk: Moderate to HIGH
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March Corn CH0
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FLAT
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March Oats OH0
———-
FLAT
———-
March Soybean Meal SMH0
———-
FLAT
———-
March Soybean Oil BOH0
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FLAT
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January Soybean SX0
———-
FLAT
———-
March Wheat WH0
———-
FLAT
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4: MEATS
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January Feeder Cattle FCJ0
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FLAT
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February Live Cattle LCG0
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Nice rally in Cattle Tuesday! This allows us to bring up our trailing stop again.
CONTINUATION of Long 2 February Live Cattle at 8577 (January 14)
Exit Stop: 8695 (stop)(GTC)
Approximate Risk: $0 per contract
1st Profit Target: 8747 (January 19)
Approximate Risk: $680 per contract
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February Lean Hogs LHG0
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FLAT
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5: METALS
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March Copper HGH0
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FLAT
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February Gold GCG0
———-
FLAT
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March Silver SIH0
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FLAT
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6: SOFTS
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March Cocoa CCH0
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FLAT
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March Coffee KCH0
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FLAT
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March Cotton CTH0
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FLAT
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January OJ OJF0
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FLAT
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March Sugar SBH0
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FLAT
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Day Trading Support and Resistance Lines
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March mini-DOW YMH0
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Support and Resistance Lines:
10360
10415
10450
10500
10540
10560
10580
10620
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March mini-S&P ESH0
———-
Support and Resistance Lines:
1110.00
1117.00
1125.00
1127.50
1131.00
1138.00
1142.00
1148.00
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Commodity Pick Report is a publication of Traders Helping Traders.net
http://www.tradershelpingtraders.net
erich@tradershelpingtraders.net
Copyright (c) 2003 – 2009 Traders Helping Traders.net.
10 – 6078 Truesdale Street, Duncan, British Columbia, V9L 0B4
(250)748-9242 (Pacific Time Zone)
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My Lawyer Made Me Say
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Futures trading involves the substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources that Commodity Pick Report believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such.
Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Any dollar amount quoted is exclusive of commissions and fees.
CFTC Rule 4.41
RISK DISCLOSURE!
Trading commodity Futures and options on futures involves significant risk. You must consult licensed professionals or your own advisors before trading to determine if it is suitable for you.
Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. You must consult your broker or advisor before making any trade to ensure current prices, margin requirements and other factors determinant to suitability.
By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers. You agree before doing any trade contained herein to consult your charts and advisors to verify all information and make your own decision.
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
In fact, there are frequently sharp differences between hypothetical performance results and actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading.
For example, the ability to withstand losses or to adhere to particular trading program in spite of trading losses are material points which can also adversely affect actual trading results.
There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
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