Buy LEQ17 – LEM17: long August 2017 Live Cattle and short June 2017 Live Cattle.
First trade in 2017 and with new account size of 20 000 USD.
January 3: bought 2ct based after break of the S/R level at -3.925. Initial SL set at -4.925 and PT at -2.7 with 4% risk per trade.
January 5: after small correction I bought another contract at price -4.075 and total risk per Live Cattle trade was around 5%. During the opened position I realized that 5% risk with combination of new account size does not fit me and in future trades I will continue with risk circa 2%.
Whole month I was holding open loss which was little bit frustrating, but at the beginning of February situation had changed.
February 10: exit with 2 ct when touched significant resistance at price -3.2 with profit of 580 USD.
February 13: exit with last contract when price hit my SL moved at -3.525 with profit of 220 USD.
Total profit of trade = 800 USD.
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