Action 20090710: Long FKLI July 2009 Contract At 1066

(I am recording my trading. The followings are my trading actions and records. As good traders, we should keep a good records of all the details like points of entries, reasons of the actioin;long and short, stop loss levels, profits and loss and commands etc. )

Date: 10 July 2009 (Day 1: Open Trade)
Action: Long FKLI July 2009 Contract
Long Price: 1066 (the actual price is 1065.50, I was mistaken)
Volume: 2 contracts
Initial Stop loss: 1053 ( 2 points below Yesterday's low of 1055 )
Potential Loss Amount: RM 1400 ( 13+1=14 points above my entry point )
Reason To Long:
1) Stochastic of 4 hourly chat is still up
2) The price stayed well above 10 moving average of high and low
3) The price broke above Yesterday's high of 1067.50

Date: 9 July 2009 (Day 3: Close Trade)
Action: Short To Close FKLI July 2009 Contract
Short Price: 1070.50 & 1080.50
Volume: 2 contracts
Profit: RM 900 ( 1080.50-1065.50-1 = 14 points and 1070.50-1065.50-1 = 4 points )
Reason Of Short To Close Position:
1) 4 hourly Stochastic is at very over sold area
2) The price hit the high of 1082.50 which is near the recent high of 1085.50
I could hold the trade for another day as there is high chance that the price will continue. I did not as I want to feel the profit after two previous consecutive losses. It is important for a trader to keep up the momentum.
Note:
1. One points of FKLI Futures = RM 50
2. Commission needed for buy and sell is RM50 so we need 1 points to break even
3. Margin (Minimum Deposit for holding overnight) = RM 3500
4. I have RM 35,050 as deposit and now RM 35,950 after the profit of RM 900