Date of entry: 7 July 2010
Short CPO Sept 2010 Contract At 2283
I shorted CPO Sept 2010 Future Contract at 2283 for 1 contract. It broke down the low of 2289. Daily and 1 hourly chart are all below 24 moving average indicating bearish market.
Date of exit: 8 July 2010
Long To Exit At 2307
I longed to close at 2307 losing 26 points. The price opened with a gap up. I have no choice but to close.
The balance of my account is RM 19,800 after the loss of RM 650 (26points x RM25 = RM650) (The details of my account is at My Future Trading Account Records 2010 )
Hi,
ReplyDeleteJust to know why you choose 24MA as important indicator to gauge your entry level? Mind to share?
Hi Ahyan,
ReplyDeleteI started using 24 days moving average from daily chart initially. And there are 22 to 24 trading days in a month, so I choose 24 days for moving average. When I changed to the time frame of the chart from daily to hourly, I realized that it works just well. So I finally picked 24 days for my moving average.
Thanks
Abel.