Action 20090910: Long CPO Future Nov 2009 Contract

(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 Sept 2009 (Day 1: Open Trade)
Action: Long CPO Future Nov 2009 Contract
Long Price: 2226
Volume: 1 contract
Initial Stop Loss: 2164 (6 points above yesterday's low of 2170)
Reason To Long:
1) Price broke yesterday high of 2217. The movement is really fast & furious. By the time I wanted to long when the price hit above 2217, the price went as high as 2230, so I placed a long order at 2226. I got the price 15 minutes later
2) Stochastic of 2 hour chart is now up again.

Date: 10 Sept 2009
Action: Short to close position
Shorted Price: 2161
Loss: RM 1675 ( 2226-2161+2=67 points )
Reason to close Position:
1) Again, my stop loss was hit at 2170.
Comment:
The price acted abnormally for this two days; broke up then broke down again. This could mean consolidation ahead. I close my position and watch at side line.
Note:
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 39,025 as deposit and now RM 37,350 after the loss of RM 1675
Please refer to 'My Future Trading Account Records' for details.