Wednesday, March 24, 2010

Long CPO At Higher Price

Date of entry: 22 March 2010
I longed at much higher price at 2590 (2 contracts) when the price broke the high of 2584.

There are two concerns:
1) A candlestick shooting star emerged at the end of trading day. The price failed to maintained at the high after the breakup of 2584 indicating the weakness ahead
2) Stochastic turned down from over bought area.
I have get ready to exit the trade tomorrow if the price further going against me.

Date of exit (Partial): 23 March 2010
I shorted to close 1 contract at 2579 with a loss of 13 points (RM325) as the price failed to continue the upside and broke the little trend line. There is 1 contract remained.

Date of exit: 24 March 2010
The price hit where below my stop loss at 2574 (my stop loss was 2576). I lost 18 points (RM450) for this contract.

The balance of my account is RM 27,625 after the loss of RM 775 (RM325 + RM450 = RM775).
(The details of my account is at My Future Trading Account Records 2010 )

No comments:

Post a Comment