(I am recording my trading. The followings are my trading actions and records. As good traders, we should keep a good records of all the details like points of entries, reasons of the actioin;long and short, stop loss levels, profits and loss and commands etc. )
Date: 30 April 2009 (Open Trade)
Action: Short FKLI May 2009 Future Contract
Shorted Price: 986
Volume: 2 contracts
Stop Loss: 990
Reason To Short:
1) The Stochastic of 30 minutes chart was down
2) Price broke below the moving average low (MAV Low in purple color line)
Date: 30 April 2009 (Close Trade)
Action: Long to close position
Longed Price: 990
Volume: 2 contracts
Loss: RM500 [(990-986+1)xRM50]
Reason To Long (close):
1) Stopped Out
Comment: The price was stronger than expected. After the losing trade, I stayed aside for the rest of the day to watch the price action. And it is a holiday tomorrow (1 May 2009 Labour Day).
Note:
1. One points of FKLI (KLSE Future Index) = RM50
2. Commission needed for buy and sell is RM50 so we need 1 point to break even
2. Margin (Minimum Deposit for holding overnight) = RM3000
3. I have RM33,275 as deposit and now RM32.775 after the loss of RM500
hi, how long have u been trading futures. I started paper trading since 27/3/09. Come to my blog n chat.http://daytradingfkli.blogspot.com/
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