Action 20090604: Long FKLI Future June 2009 Contract At 1068

(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: 4 June 2009 (Day 1: Open Trade)
Action: Long FKLI Future June 2009 Contract
Shorted Price: 1068 (at the close)
Volume: 2 contracts
Initial Stop loss: 1046 ( 5 points below the low of 1051 on 4/6/2009 )
Potential Loss Amount: RM2400 ( 22+2=24 points below my entry points )
Reason To Long:
1) Price is still above the up trend line (in green)
2) It is a bullish engulfing pattern; open low and close high
My View:
I am going for a short term trade meaning that I will cash out when I had profit. I am not hoping for a big profit for this trade.

Date: 5 June 2009 (Day 2: Close Trade)
Action: Short To Close CPO Future Aug 2009 Contract
Shorted Price: 1076.5
Volume: 2 contracts
Profit: RM 750 ( 1068-1076.5-1 = 7.5 points )
Reason Of Short To Close Position:
1) Lately, the market will rest after two white candle appear in an up series (refer to chart in blue circle)
My Comment:
I locked the profit as I had making small profit in mind at the time of entering the trade.
Note:
1. One points of FKLI Future = RM50
2. Commission needed for buy and sell is RM50 so we need 1 point to break even
3. Margin (Minimum Deposit for holding overnight) = RM3500
4. I have RM33,600 as deposit and now RM34,350 after the profit of RM750