The markets for trading vary in both content and complexity. I have found that focusing on one particular market is an excellent way to learn the ins and outs of both that market and the fundamentals of trading. The question below suggests the reader understands this …
I am trying to trade futures on a day trading basis from home. I have live market info, etc. What do you feel about coffee and sugar, and what specific indicators / studies do you think best fit these two?
The first thing to say is that trading futures successfully requires a strong skillset. It is difficult and risky, so you had better know what you are doing before you throw a bunch of money at it.
I like both sugar and coffee, although not together. I find the combination of the two in the same cup creates an odd flavor, something akin to sweet and sour sauce without the starchy rice. Yes, yes, I know the acids in coffee and sweet/sour sauce are different, but both have sugar in common, and that is what I do not like in combination with the bitter acid of coffee.
Kidding aside, I don’t trade futures, but Jim Wyckoff does, and you can find lots of good information about indicators and studies from him. Check out his articles here. Just do a search for him and get ready for a wealth of good information. Good luck and take it seriously. The wounded and the dead litter the road to futures trading success.
The rumors are flying that the two political parties are close to a deal that would lift the U.S debt ceiling. I suggest that if a deal is announced in the next day or two, the market will fly up, at least in the very near term. Some would argue with this, suggesting that the market has priced a deal in already. We will see …
On other fronts, the market is getting news that allows it to kick the rocks off the road to going higher. The ADP report today suggests the employment report tomorrow could be better than expected. The June same-store retail sales report today demonstrated the consumer is far from dead, even as gas prices remain high. It is all good, assuming a debt ceiling deal is reached soon.
The news below adds to my optimism that the U.S. economy will get stronger as we move through the rest of this year. Trade is a key factor to improving the U.S. economy, and when the trade between Mexico and the U.S. improves, it can only help, as Mexico is the U.S.’s third largest trading partner …
Mexican officials said they would cut in half duties on 99 U.S. products such as pork, apples, and consumer care products on Friday and remove the rest when the first Mexican trucker crosses into the United States.
I smell opportunity … I want to know what some of those industrial products are, and so I will find out.
Trade in the day – Invest in your life …
