Advice for long-term traders

[Joe Ross]

Note the yearly ranges for the commodities you trade. What are this year’s highs and lows? Are they higher highs, lows and closes compared to last year? Does the close confirm the price action? What is the long term trend? How does this year’s compare to the last three years' average range? Should next year have greater volatility than this year? How much in dollars was the price move from the annual lowest low to highest high? How much did you take out of that range? What should next years high and low be for the commodities you trade based on your yearly trend analysis? These questions define the yearly long term price bars, use the monthly price bars to answer them. Use weekly price bars to answer major trend questions for monthly highs and lows.