V.1:1 (15-17): To Trade of Not to Trade (or how I done it) by JACK K. HUTSON, EDITOR

V.1:1 (15-17): To Trade of Not to Trade (or how I done it) by JACK K. HUTSON, EDITOR
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To Trade or Not to Trade (or how I done it) by JACK K. HUTSON

The format of sharing trading experiences is an easy way for Technical Analysis Group members, as well as others, to tell how they used chart work and technical analysis in the day to day trading of stocks or commodities.

One of my approaches to trading is as follows: This story begins around the first of the year, 1982. Pork Bellies had just made one of its abrupt ninety degree reversals which started a spectacular Bull market. At that time I was attracted to the chart because the reversal was so sharp and the only side of the market to be on was the long side. On January 14th, I saw what looked like a good point to go long. Unfortunately I sat and watched. That trade would have taken me to the 5th of February for about 6 cents or $2200 net profit per contract.

For you new traders I would like to bring this sort of short-term trade into perspective. Commodity 'contracts' are bought and sold only on margin, much like securities may be bought. As with securities that are bought on margins, and a profit taken, it seems appropriate to compute a percent profit based on your out-of-pocket expense (i.e. your margin). At any rate the numbers sound much better when looked at from this point of view and this IS my story.

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