Date of entry: 10 Jan 2011
Short CPO March 2011 - Potential Down Trend Continue
I shorted CPO March 2011 future contract at 3748 for 1 contract. It is a break down with the price stays well below moving average indicating that the down trend might continue.
Date of exit: 11 Jan 2011
Exit Short CPO Position - No Continuation Of Down Trend
I longed to closed the position at 3744 with a little gain of 2 points after deducting 2 point for commissions. The price did not continue the downwards indicating that there might be a rebound couple with the price reached moving average in daily chart. I will reenter the market if the price breaks below the low.
The Profit: RM50 (2points x RM25 x 1contract = RM50)
The balance of my account is RM16,325 after the profit of RM50.
(The details of my account is at My Future Trading Account Records 2011 )
I think it is a good move to exit your short position. Better safe than sorry!!! Afternoon session may confirm you made the right decision or not...
ReplyDeleteHi,
ReplyDeleteYes. Thank you. The daily chart really looks stabilizing around this area.
Abel
Too bad! Better luck next time...At least you can catch it back near the bottom on the way up?
ReplyDeleteIt appeared that the down side is nothing much too.
ReplyDelete