It’s easy to get excited or anxious after you enter into a trade, especially for beginners like me because every up or down will mean financial gain or loss.

It’s easy to make stupid mistakes and let emotions affect a trade when we have so little and so much at stake. 

It takes a lot of discipline to be able to control your emotions.  That’s what I’m trying very hard to do every day.

• Don’t let greed stop you from selling a gaining position when the indicators says that’s it for now. 
• Don’t let fear stop you from exiting a losing trade if it is really a mistake you made.  It is easier to lose some rather than to swallow a big loss. Maintaining your money is very important to make sure that you are not swallowed up by losses and have no way back.
• Trust yourself and your indicators.
• Be patient and don’t rush into any trade.  Don’t chase.

Long Natural Gas at $11.42. Price now is $11.25 - may go lower before regaining it’s upward trend.

Time to loosen up and catch up with the kids since it’s Friday night.

Closed Long position today at $1388.25 after making a high of $1402.00. My gain is :-

1319.00 - 1388.25 = 69.25/0.25 X $12.50 = $3462.50

Very good for a one day position - YEAH!!

Just three months after the snowstorm that hit China on February, disaster is in the headlines again with the latest earthquake measuring 7.9 magnitude on Monday, in Sichuan. Death toll is currently at more than 22,000 with thousands of people still missing or buried under rubbles.

The worst disaster in China’s 30 years of history, aftershocks of 5.5 magnitude and strong tremors are being experienced and expected to be felt for the next two months.

With the spate of disasters befalling China, can this year of the Rat be bad fengshui to hold the Olympics? Considering the amount of money and resources spent on building the Olympics Stadium not to mention the world-class infrastructure just to cater to the number of people expected to flood into China during this event, any more bad news will spell disaster to China.

The number 8 is believed to be auspicious and good-luck to the Chinese. The date fixed for the Olympics is 8/8/2008 ~ very auspicious number ~ however, it also falls in the 7th month of the Chinese Calender which is the “Ghost Month” when the souls of the dead are believed to come out for one month. The elderly chinese believe in restraining activities such as swimming, house-shifting and wedding during the Ghost Month to avoid any untoward incidents. Why did the Chinese Government choose 8/8/2008 to begin the Olympics when it falls during the Ghost Month?

A rather scarry and unbelievable thing to think of, BUT is the Olympics Beijing 2008 destined for doom?

Soybean made a retreat today of more than $65 today.  Took the opportunity and went Long SN8 at $1319.00 after touching a low of $1311 and since it was already 12.45 am and I felt quite comfortable with my entry, I keyed in $1357 which I saw as a resistence and went to bed.

So happy when I checked in the morning to see that it’s trading at $1360 .  However, my sell order was not done because it was off trading session.