Thursday, November 26, 2009

Short CPO Feb 2010 Contract at 2463

The price opened with a gap up but fail to maintain at the high. Instead, it dropped all the way to as low as 2461. I shorted at 2463. Reason being 1) Price broke below recent low of 2469 and 2) Stochastic of 1 hour chart is on the way down.
The details:
Date of entry: 26 Nov 2009
Trade Code: 20091126A
Action: Short CPO Feb 2010 Future Contract
Price: 2463
Volume: 1 Contract

I closed the position 10 minutes before the market close at 2487 as I realized that there will be public holiday tomorrow and follow by weeken. I have been lossing money including this trade so I just want to get out of the market and have fresh start on Monday. It has been a bad week for me. What to do, trading is trading. I just have to live with this kind of situation.
I further loss RM 625. My account balance now is RM 30,425.

(The details of my account is at )

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