Trading Commodities and Financial Futures: A Step-by-Step Guide to Mastering the Markets, Third Edition

Those who can be right and sit tight

At times, I've had clients make big scores in the markets we trade. I've been fortunate enough to do the same at times, but I admit not as often as I could have or should have. When I go back and look at my “Purchase and Sale” statements from the clearinghouse, I generally see the same pattern for the “'best of the best” trades. I see a position entered into when it was not the popular play. I see a position held for a greater period of time than most, held through major shakeouts or sharp short covering rallies. These were generally pyramided but not always the largest positions in terms of size. Substantial money can be made with a fairly modest position, if the position is entered relatively early in a ...