Thursday, November 12, 2009

Turned Short FKLI at 1262

Date of entry: 12 Nov 2009
I shorted FKLI Nov 2009 Future Contract when I was just stopped out my previous long position (trade code: 20091104). I am not sure of this trade at all since the whole markets are at the sideway mode; stocks market, forex, commodities. My reasons of shorting are 1) The price broke below 1269 which I believe is a strong support (refer to chart) 2) Stochastic is still down indicating that the market bearish. 3) Daily Stochastic turned down.
Trade Code: 20091112b
Price shorted: 1262
Volume: 2 Contracts

Date of exit: 12 Nov 2009 (Cut loss the same day)
I closed my position short position at 1273 (the worse price) lossing 12 points including commission with the reason 1) Stochastic turned up from oversold area 2) Bullish engulfing parttern.
My balance now remain RM 32,300 after the loss of RM 1,200 (1273-1262+1=12 points x RM100 = RM1200)

(The details of my account is at )

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