Friday, March 19, 2010
Exit Short Position CPO June 2010
Date of entry: 18 March 2010
I reversed my position to short CPO June 2010 future contract at 2576 (2 contracts). The bearish pattern breaking down looked convincing for a downward market ahead.
Date of exit (Partial Size): 18 March 2010
I locked my partial profit at 2562 with a gain of 13 points which is RM325 (2576-2562-1=13 points)
Date of exit: 19 March 2010
My stop loss was hit at 2568. I was busy and forgot to lower my stop loss which is supposed to be at 2558; 10 points missing!! A profit of 6 points after deducting 2 points commissions, the profit could have been much more, what a waste!(6 points x RM25 = RM 150)
The balance of my account is RM 28,400 after the profit of RM 475 (RM325 + RM150 = RM475).
(The details of my account is at My Future Trading Account Records 2010 )
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Abel, you should work on your exits. I noticed you always exit with losses or small profits. Maybe you should take profit instead of putting stop loss.
ReplyDeleteHi,
ReplyDeleteYou are right. I have been thinking about it too. I do notice that the maximum points that I could get so far in FCPO trading is 40 points which is the limit. And it is common to have 20 points gains.
It is heart breaking to see my profit from hero to zero. I will reschedule my stop loss and make sure that I take profit (half of my position) when there is 20 points gain and take all when I see 40 points gain.
Thank you again FCPO.