Date of entry: 26 March 2010
I shorted CPO June 2010 future contract when the price broke below yesterday low of 2549. My entry price is 2545 or 2 contracts. I hope I am right this time.
Date of exit: The same day
I am kicked out at 2560 (my stop loss level) with a loss of 16 points (2560-2545+1=16 points).
The balance of my account is RM 26,975 after the loss of RM 800 (16points x 2contracts x RM25 = RM 800).
(The details of my account is at My Future Trading Account Records 2010 )
Hi, again being played out by the "flip-flop" sideway market..
ReplyDeleteI suggest you look at the daily chart as well to get a sense of direction of the market. OR make use of good indicator to avoid such a sideway market
Anyway, still a good try
Cheers
Najib
hi abel,
ReplyDeleteactually,i have been following your blog since last year itself.i can see that u r a very disciplined trader and that is the characteristics of a highly successful trader.
if you don't mind ,can i give you my opinion?
from your trading diary, i see that your performance in FKLI is greater than in CPO.maybe your performance will greatly improve if you switch your focus to FKLI... less on cpo.
cheers,
zac
Hi Najib,
ReplyDeleteMy trading methods work only when market is trending. You are right, looking at the daily chart, it is obviously in consolidation mode. Perhaps I will trade half of my usual position till it is trending again.
Thanks
Hi ZacLim,
ReplyDeleteThank you. I will trade FKLI also from now on and see how it goes. Looks like FKLI works better.
Regards,