Tuesday, October 20, 2009

Long CPO Jan 2009 at the open - 2211

I longed CPO Jan 2009 Future Contract at the open with the price of 2211. The price broke the mini down trend line (in blue).
The details:
Date of entry: 20 Oct 2009
Action: Long CPO Jan 2009 Future Contract
Longed Price: 2211
Volume: 1 Contract

I was stop out at 2195 lossing 16 points. This is not a right trade for me. Technically, the price did not break previous high.
The details:
Action: Short to close CPO Jan 2009 Future Contract
Short Price: 2195
Loss: RM 425 (2211-2195+1=17 points x RM 25= RM 425)
My account balance now is RM 35,425 after the above loss of RM 425.
(The details of my account is at http://www.bullsa.com/2009/06/my-future-trading-account-records.html )


  1. Not a good trade ! You should wait for a pull back first. Agreed Daily chart is still on the long side !.

  2. You are right ALFANG, I went in too early turned out to be a lossing trade.