Cocoa Prices Lower By 26 Points Today

08 May in Blog, coffee futures, commodity broker, commodity trading, cotton futures, futures broker, futures trading, lumber futures, Michael Seery, milk futures, option broker, orange juice futures, Seery Futures LLC, soft commodities, sugar futures

 Cocoa Futures-- Cocoa futures today closed lower by only 26 points to close at 2331 still near 4 week highs which has been very difficult to say in the soft commodities in recent months due to the fact of generally oversupplied markets with a lack of demand causing prices to head lower , however cocoa prices double bottomed four weeks ago around 2, 050 and since that point have rallied to close on the higher end of the trading range, however I am still surprised that cocoa prices are rallying and in my opinion and I do believe prices will head back down in the coming weeks. Remember always use stop losses and in this case I would use a stop above the contract high of 2519 which happened on January 19th of this year remembering always to use stop losses whenever you place a futures trade as well as using my 2% rule as your maximum loss on any given trade. For example if you are trading 100,000 my suggestion is you would risk 2, 000 on any given trade which is 2% of the account value minimizing your risk when you are on the wrong side of a trade. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

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