Date of entry: 20 Aug 2010
Did I Short Too Low
I am not sure if I shorted too low at 2540 for 1 contract. The price is now below moving average. Honestly, I am not comfortable with this trade as the price has been down for 5th days. I just have to do what I got to do.
Date: 26 Aug 2010
Alert Signal: Bullish Candle Pattern
CPO Nov 2010 Future Contract closed at high of 2530 forming a bullish white candle pattern. This could mean a temporary end of bearish trend. I will put tight stop loss for now to protect my short position.
Date of exit: 27 Aug 2010
Long To Close CPO Short Position
I closed the long position at 2540 with a loss of 2 points as the rebound continue after the appearance of bullish white candle.
It looks like the rebound will resume toward the two moving averages.
The balance of my account is RM 24,900 after the loss of RM 100 (2points x RM25 = RM100) (The details of my account is at My Future Trading Account Records 2010 )
I don't think so, CPO up around 500pts from lowest 2270 until 2737 pts. so it is common for it to drop at least half of 500 pts which is around 2503. So just hold on it.
ReplyDeleteHi Anonymous,
ReplyDeleteYou are right too, I will hold on to the trade.
Thank you for your advise.
Regards,
Abel
I think it is better to short after rebound, if any.
ReplyDeleteAdam
it never feels comfortable. trading is not supposed to be comfortable. if u want comfort, go to a sleazy join.
ReplyDeleteHi Adam & Anonymous,
ReplyDeleteThe price is down at last. Trading is meant to be tough.
Thanks
Abel
Hi Abel,
ReplyDeleteRecently your trading improved a lot and made big money. Can you advise what kind of trading method you use?
Hi,
ReplyDeleteI am using more or less the same method that I have been using; Moving averages (for identifying trend), break out method (like break out recent high and low) and also candle stick pattern.
I placed stop loss for all my trades.
Regards,
Abel