Date of entry: 6 Oct 2010
Long CPO Dec Contract At The Open
I longed CPO Dec 2010 Future Contract at 2715 on the opening bell this morning. As FKLI, it could be the continuation of up trend. It will be good if it can form a candle stick bullish pattern at the end of today session.
Date of exit: 8 Sept 2010
FCPO - Short To Exit
I short to exit my trade at 2772 with a gain of 55 points after deducting 2 points for commission. If the price closes at this level, the formation of candlestick pattern is called "dark cloud cover" which could mean a weakness ahead at least for few days unless it could surge above today's high of 2808.
The balance of my account is RM 30,375 after the profit of RM 1375 (55point x RM25 x1contract = RM1375)
(The details of my account is at My Future Trading Account Records 2010 )
sometimes but not always, mkt like to end up in the "twilight zone" area... for eg. today's close near resistance 1484.... can go either way tomorrow... 50/50 if take last minute overnight position..again, thaz the thrill of trading...
ReplyDeletelengchai6
Abel, your game plan is so far so good, and gutsy too. I salute your confidence on your trading system.
ReplyDelete~ Chun
Hi LengChai6,
ReplyDeleteYes, you are right. This is the time that we should have our stop loss placed to protect ourself just in case.
Thank you for your comments LengChai6 and Chun.
Regards,
Abel
CPO - huge volatility... today..
ReplyDeletelengchai6
Hi LengChai6,
ReplyDeleteYou are right. It is a very volatile day for CPO. I was very tempted to exit my trade when the price was dropping. But I had to follow my rule so I hold on. It is a nervous day.
I hope you are doing fine too.
Abel
doing alright...but amazed by the volt. Reckoned the way to trade this is "auto" stops - may it be stop n reverse or sell/buy stop to jump in the flow of the direction...close an eye and let the order get triggered automatically...this sounds like quant/flash trading liao :)
ReplyDeletelengchai6