Date of entry: 22 Sept 2010
I Am In Again: Turn Short FKLI
I reversed my position of FKLI Sept 2010 Future Contract to short at 1474 for 2 contracts. I am not really comfortable with this trade. I simply try to get in earlier short position.
Date of exit: 23 Sept 2010
FKLI - Exit On My Target Price 1453
The price plunged drastically to my target price of 1453 with a gain of 20 points after 1 point for commission.
The balance of my account is RM 28,350 after the profit of RM 2000 (20points x RM50 x2contracts = RM2000) (The details of my account is at My Future Trading Account Records 2010 )
Congrats!!! Well done !!
ReplyDeleteHi Tang12,
ReplyDeleteThank you so much for your encouragement.
Abel
a good one !
ReplyDeleteFred
Si fu, how the MA(H)&(L) helping u to Short & Long?
ReplyDeleteHi Wang_Malaysia,
ReplyDeleteBasically, moving averages show me the current trend; bullish when the price is above moving average and vise versa.
When using close price for moving average with high and low, the close over might not good enough for a trend change. I know not many people using moving average high and low.
I hope I ask your question.
Abel
Correction for the above comment reply:
ReplyDelete"When using close price for moving average WITHOUT high and low, the close over might not good enough for a trend change."
But it is not much differ in term of trend change?, si fu.
ReplyDeleteHi Wang_Malaysia,
ReplyDeleteIt really depends on individual. Most people use two moving averages in different time frame like 30 days and 50 days and wait for the two line to close over to identify the trend. I think they are as good.
Abel
Yes, i do use MACD & EMA6 (Daily) for Cash Stock ; MACD & EMA31 (Hourly) for CPO & KLF. Any Comment? But i don't understand what made u exit & long @ 1453 on 23.9.10.
ReplyDeleteHi Wang_Malaysia,
ReplyDelete20 points gain is just nice for FKLI based on my pass experience, sometimes like this round, the price could drop further to another 10 points to as low as 1440.50.
As a trader, we just can not get everything (profit I mean). 20 points profit is good enough.
Abel