Wednesday, September 9, 2009

Action: 20090909 Long CPO Future Nov 2009 Contact at 2209

(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: 9 Spet 2009 (Long and short the same day)
Action: Long CPO Future Nov 2009 Contract
Long Price: 2209
Volume: 1 contract
Short To Close At: 2177
Loss: RM 850 (2209-2177+2=34 points loss)
Reason To Long:
1) Price broke above the moving average high (pink line), there was high chance of the up trend continue.
2) Price went higher than the previous high of last two candlestick bar
Reason Short to close:
1) Price went below the recent low of 2181.
I closed my position as the price failed to continue the up trend. I choosed to stay aside and wait for a clearer signal.
1. One points of CPO Future = RM 25
2. Commission needed for buy and sell is RM50 so we need 2 points to break even
3. Margin (Minimum Deposit for holding overnight) = RM 8000
4. I have RM 39,875 as deposit and now RM 39,025 after the loss of RM 850
Please refer to 'My Future Trading Account Records' for details.

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