Date of entry: 9 June 2011
Shorted FCPO On Break Down
I shorted FCPO Aug 2011 Future Contract at 3307 for 1 contract. It broke recent low.
Date of exit: 10 June 2011
FCPO - Long To Take Profit
I longed to close my position at 3284 with a gain of 21 points (2 points commission included). There is no strong reason to exit except that wanting to confirm the profit which is hard to get.
The Profit: RM525 (21points x RM25 x 1contract = RM525)
The balance of my account is RM23,100 after the profit of RM525.
(The details of my account is at My Future Trading Account Records 2011 )
AbelAbel u short at sep or ogos?
ReplyDeleteHi, I shorted Aug 2011 Future Contract.
ReplyDeletewhat time u sell?
ReplyDeleteHi, at around 3:05 afternoon session.
ReplyDeleteI have been following your blog for quite sometime, and it seems that your CPO trade is performed better than FKLI at the moment. I would just like to share this piece of excerpt from a book named "The Principles of Sccessful Trading", it is just for the sake of sharing, and not a comment to this trade, I know you have your risk management.
ReplyDeleteTRADE FOR PROFITS OVER TIME
ReplyDeleteTraders tend to get wrapped up in current market conditions, the news of the day and the current trade, usually at the expense of the big picture and profits over time. My grandfather used to have a saying, "You can't go broke taking profits." He was very wrong. You can go broke taking profits. If you take profit before the market tells you to, or you succumb to fear and close out the trade before its time, you are focusing on the short-term and forgetting how to make money over the long haul. Close out no trade before its time.
Hi shortie,
ReplyDeleteThank you so much for sharing. I appreciate a lot.
You are right, we usually are very tempted to take profit. It is important to remind ourselves.
May I the writer of the book "The Principles of Successful Trading"?
Thanks & Regards,
Abel
Abel,
ReplyDeleteIt is from an author of TradeStation, the author name wasn't printed anywhere. I only have the pdf file, not sure if you can find it in book store, if you don't mind, I can email the e-book to you.
I can only do it tomorrow, the file is in my office. Thanks.
Hi shortie,
ReplyDeleteThank you for sharing. It means a lot to me.
My email: bullsa@ymail.com
Regards,
Abel
Hi Abel,
ReplyDeleteI have sent to you, did you receive?