Date of entry: 11 Oct 2010
Long CPO At The Open Too
I longed CPO at 2905 for 1 contract at the opening bell. It actually shot up to 2940!! I feel very uncomfortable with the price gapped up more than 100 points. But this is trading, a break up is a break up. What to do.
Date of exit: 15 Oct 2010
Short To Exit CPO At The Open
I shorted to close my long position at 2937 with 30 points again after deducting 2 points for commissions. I am not sure the next direction since the price has been up and there seems to be tiredness of the market refusing to go higher. Little profit is better than none.
The balance of my account is RM 31,275 after the profit of RM 750 (30points x RM25 x1contract = RM750) (3points x RM50 x1contract = RM150)
(The details of my account is at My Future Trading Account Records 2010 )
OMG, you actually longed it. :P Now it looks like a good move.
ReplyDelete~ Chun
Hi Chun,
ReplyDeleteIt is extremely hard to long actually. Sometimes, we have to act like a robot; "feelingless" and follow the rule.
Abel
go with the flow... siapa tau, esok can gap up again...
ReplyDeletelengchai6
any particular reason CPO only 1 lot instead of the strategy like FKLI 2 lot...
ReplyDeleteand i noticed that you have bigger stop loss allowance for CPO..
lengchai6
Hi LengChai6,
ReplyDeleteI am restricted by the margin requirement for holding over night per contract; RM5000 for CPO. And I usually use double amount of the margin requirement which is RM10,000 for every contract. I wish I could have more contracts but this is my rule and it is a risk control too.
Yes, I give more allowance for CPO in term of stop loss as it is more volatile. I used to use tight stop loss and my positions were chopped out here and there.
Regards,
Abel
it's a breakaway gap, extremely bullish as long as the gap remains open, sit tight, fcpo going up to 3000+ very soon after consolidating,
ReplyDelete