Friday, January 29, 2010

Long CPO April 2010 For Short Term Rebound

Date of entry: 28 Jan 2010
I turned long CPO April 2010 Future Contract at 2438 since the price broke above 2438 (recent high based on 1 hour chart) for a short term rebound. CPO has been very resilient for the past days and staying sideway well without making new low when most markets were down indicating that CPO or commodities market could be strong.
Date of exit 1: 29 Jan 2010
I closed 1 contract at 2443 making 3 points gain only. The market is neutral now, it could go either way

Date of exit 2: 29 Jan 2010
I closed the last 1 contract at 2424 at the open of afternoon session lossing 16 points including commission.

The balance of my account is RM 31,550 after the loss of RM 325 (Profit:3points x 1 contract x RM25 = RM 75)(Loss:16points x 1 contract x RM25 = RM 400).
(The details of my account is at My Future Trading Account Records 2010 )

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