Date of entry: 9 Nov 2010
Initiate Long Again - FKLI
I initiated long position for FKLI Nov 2010 future contract at 1523 for 2 contracts again. I could have longed this morning based on my usual method but I was busy. This is the second time that the price tries to reach the high at the time of writing this blog.
Date of exit: 11 Nov 2010
FKLI - Exit On Stop Loss Hit
My stop loss was hit at 1513.5 with a loss of 10.5 points (1 point commission included). This trade, I would have exited at 1516.5 based on my usual method. I tried to give it more room so that I would not appear to be too scared to lose, but it did not turn out right. It is important to stick to my original plan.
The balance of my account is RM 35,250 after the loss of RM 1050 (10.5points x RM50 x 2contracts = RM 1050)
(The details of my account is at My Future Trading Account Records 2010 )
Hi Abel,
ReplyDeleteWhat's your trading thesis? Is it based on breakouts?
A.
Hi A,
ReplyDeleteIt was based on breakup. The only different is the time meaning that I could have entered the trade in the morning but I missed it so I entered the trade in the afternoon session when the price retest 1523.
Abel
have you tried limit order or buy stop order... or you had bad experience on this type of orders from previous experience?
ReplyDeletelengchai6
Hi LengChai6,
ReplyDeleteI use limit order instead of stop order as stop order could turn out to be very far and wild while limit order is limited to a certain price instead of any price.
Abel