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Buxton ND | For those that are just starting out with a hedge amount, don't take this wrong, but you no clue what your really doing, YOU NEED another set of eyes and ears watching over and guiding you. IMVSO this IS NOT done by just point/click/trade with some dam cheap on-line broker that all YOU are to HIM is a number and source of income.
I trade thru ADMIS for now, 2008 wild market MWE/ZC corn spread went to $5 a all time record. I wanted to sell wheat buy corn***** But I wanted another opinion***** so I personally talked to the head head gentlemen @ ADMIS I remember the words, word for word, BURNT IN MY MIND***** He said *****"These are wild markets, high risk markets, no one know whats going to happen with MWE***** I would highly you DO NOT do that trade"*****
OK,,, personally I think he knew "something" was gonna hit fan, just no one knew the fan was the size of Texas. He's much older, wiser and had way more experience then I.***** I LISTENED and DID NOT do that spread trade***** Yeah you maybe don't like all **************** these. That spread went from $5 to $15 give or take a few bucks THAT'S 50K PER CONTRACT,,,,, SPREADS MANY TIMES I'LL SO 2,,,,, THAT'S 100K GENTLEMEN*************** on a 1000 acre farm.
Needless to say the next time I saw him I thanked him dearly, many times dearly and he got very well beered. He does not know my name but he does know I'm THE guy that he saved his back-side in 2008. That lost would have been my life time of trading @ 70 round trip, my son's and Christ maybe my grand son life of trading @ 70
Wanna trade on-line starting out ? ? ? GO right ahead, YOU BETTER DAM WELL WATCH/KNOW WHAT YOUR DOING.
OHHHHHHHHHHHHHH BTW that spread trade is speculating AND NOT HEDGING,,,,, SEE WHY I PREACH OVER OVER AND MANY CHOICE WORDS OVER AND OVER AGAIN,
*********** DO NOT SPECULATE**********
For the young/er/old/er anyone starting out hedging.
Online trading/hedging IDK I mite get mine set up/turn it on this winter, maybe maybe not it would be nice for report days when the brokers are really busy other then that I'm old school and like to make the call.
Now that was long winded enough but I believe I made my point, my point really changed with what happened in 2008 on MWE/MPL/Minny wheat markets.
Wanna speculate ? ? ?
As said by one of the big names in the TV marketland.
"Go buy a seat at the CME group"
Edited by Sat 11/29/2015 06:25
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