Friday, August 7, 2009

Action 20090807 (Intraday): Long CPO Future Oct 2009 Contract at 2325

(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: 8 Aug 2009 (Day 1: Open Trade)
Action: Long CPO Future Oct 2009 Contract
Long Price: 2325
Volume: 1 contract
Date: 8 Aug 2009 (Same Day: Close Trade)
Shorted to close price: 2317
Loss: RM 225 ( 2317-2325-1= 9 points )
I longed in the morning as the price stayed at above moving average both high and low as it remained at almost the same the whole price further more it was near the end of the day (Weekend is near) so I closed 2317 lossing 8 points. I will stay aside and get when opportunity comes.
1. One points of CPO Future = RM 25
2. Commission needed for buy and sell is RM25 for intraday trade so we need 1 point to break even
3. Margin (Minimum Deposit for holding overnight) = RM 8000
4. I have RM 37,200 as deposit and now RM 36,975 after the loss of RM 225

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