Finally got my Race Rails and my Alarm installed for good. Hopefully no more bike problems! Now I just have to paint the tank black, put on my race tires and get my fuel cap replaced so it stops leaking fuel every time I hit the brakes hard. I am relieved. I just washed it and it looks freaking awesome!!
I'm in Ohio tonight. It's late and before I go to bed I wanted to update you on the commodities trades. Last December I bought one Crude Oil contract in the $66 range. As you can see by this chart, we've hit a profit as of recent, but it really isn't much. Had I purchased another contract months back when it was in the $45 range we would not doubt have exited at least on contract for a hefty profit, but for whatever reason I was lazy and didn't do it. I'm not going to make up some bullshit and act like I did, even though I thought about doing it. If I haven't posted it, it didn't happen. It looks like we are in a nice uptrend as of now, but I don't know if we're going to see a third measured moved higher. That would be a great place to sell if we do.
On the Orange Juice front, prices had a steep decline and then a recovery the other day. Looking back on previous events, moves like that have been met with continuation, so there is a probability we will see further decline. However, that decline could have been profit taking, and then dip buying. I am curious to see what happens either way.
On a final note, I had my socks blown off by some of the best news possible in the video game world tonight... Final Fantasy VII is actually being remade!!! After well over 10 years of fans screaming and pleading for it, and being teased and disappointed... we are finally getting a remake. With that said, that means I have to make due on a silent promise I made to Sony. I promised if they ever remade it, I would buy it full price and I would also buy whatever system it came out for. Well, it is coming to Playstation 4, but it is also hinted that it is not exclusively for that console. So, I have to decide how I feel about that. Anyways, here is the trailer for it. Fucking so excited!!!
Quick update. I'm on the road again tomorrow more than likely, but I wanted to setup my robot and run it on a few different pairs at the same time to see how that goes while I'm on my final stretch of being a driver.
I know it is cramped and cluttered, but it's on my laptop and I don't have a lot of space with 4 charts up. I'll keep trying to manage these independent markets with a remote connection while on the road.
Great timing on the buy @110.95 because today OJ is screaming higher and we are almost back at break even.
On a side note, I'm having some serious frustration right now because of my Motorcycle alarm and a new set of frame protection rails (race rails) I bought over 2 months ago... They just arrived and they gave me two of the same freaking side... so, totally useless until they send me the correct side... It is very annoying. And my alarm shipped back with the new, hopefully working components, and they forgot to send me all of it back so there goes another few weeks with no frame protection or alarm on the bike... All really expensive shit that should have much higher quality service attached to it.
I just got into town today. I spent a lot of time listening to the Joe Rogan Experience podcast and watching some trading instruction. I have been getting ever eager to get this over with and start backtesting a methodology and also start my bodybuilding.
Back on December 4th of 2014 I went long 2 OJ contracts @146.15.
Today Orange Juice is trading in the 110's so I decided to go long (buy) 2 more Futures Contracts.
With the two initial contracts purchased at 146.15, the position is sitting with a current drawdown of $10,560. Because this is an investment, I am prepared to hold this position until it is profitable. For those of you who don't recall or haven't been following that long, the beauty of the commodities market is that unlike stocks there will always be a value to them because they are real assets.
As long as you have a full cash position on a hard asset, you can withstand price fluctuations. If a stock you own goes to zero or is delisted, it's over and your money has vaporized. Orange Juice will always have a value. The only real danger here is if there is somehow such a catastrophic collapse that even the Futures exchanges go under or your broker goes under. It is in the best interest of us all that these exchanges exist because farmers and businessmen will always have a need to offset production risk through these markets.
Anyways, since I am purchasing two more contracts today @ 110.95 each, that puts our average price at 128.55. Even if Orange Juice prices take another year to go back to our original entry of 146.15, that will be a $10,560 profit we are sitting on. Not enormous, but a profit nonetheless. Just a 10 cent move beyond that point to 156.15 would be an extra $6,000 for a total profit of $16,560 because we would have 4 contracts making $150 each for every cent in our favor.
As you can see on the chart, prices are relatively low at this point, but the market has been griding lower. We'll have to see if the fight taking place right now is won by the buyers or if we break through again and head towards the 70's and 60's. '
Keep in mind this is simulated trading and no real money is at risk here. This is to demonstrate how I could likely trade futures contracts long term to increase wealth.
