Nov 5, 2013
Good things come to those that wait...apparently!!
I had purchased the futures when Cocoa was trading at $2,700 and then it dropped suddenly (to $2,631 at one stage) and my stop didn't kick in for some reason. After running serious loses for a number of days, I wasn't sure to sell out my position then and just take the loses or to hold on with the hope that the price would rise. I decided to hold on and luckily the prices jumped back up today!
I was able to sell them for a price of $2,729.
I could have held on further with the hope that prices rise even higher, but I didn't want to take the risk as they may drop significantly again!
