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Day Trading Grain Futures: A practical guide to trading for a living by David Bennett

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7: What a Speculative Trader Does

I gamble on whether a particular grain’s futures contract price will rise or fall in the course of a single trading session. If I think the price will rise, I open a long position. If I think the price will fall, I open a short position. Sometimes I’m not sure what to think, and then I sit on the sidelines.

In the futures market I can open long or short positions with equal ease.

  • To open a long trade, I buy one or more contracts. The position is closed when I sell the same number of contracts.
  • To open a short trade, I sell one or more contracts. The position is closed when I buy the same number of contracts.

What a short trade means

When I first started trading I had trouble getting my head around ...

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