Friday, June 18, 2010

Short To Close CPO Too Early


Date of entry: 17 June 2010
Long CPO Sept 2010
I longed CPO Sept 2010 future contract at 2395 (1 contract). It broke up from the consolidation and also stay well above the moving averages.
Wish me luck.

Date of exit: 18 June 2010
Short To Close CPO Too Early
I closed my position at 2403 with a gain of 6 points only as the price failed to make new high at the previous bar.
The price continued right after I shorted to close. Well, luck sometimes just does not at my side. It is ok as long as it is blue; making money I mean.


The balance of my account is RM 20,200 after the profit of RM 150 (6points x RM25 = RM150) (The details of my account is at My Future Trading Account Records 2010 )

5 comments:

  1. luck sometimes like to play fool with us. Long at 2374 but queue to close yesterday 10 pts higher. Mana tau, near mkt closing time, shoot up. Tui

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  2. You are right Anonymous, most traders have the same encounter.

    Thanks

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  3. Looking from the charts, market is
    on the uptrend..target 2450, better join in..

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  4. Luck has no part in trading unless you take it as gamble or you don't have a system. Abel,check your nerves,you are too emotional and using slightest excuse to get out of your position.

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  5. Hi,
    I do have my own set of system. I use 1 hourly chart and candlestick pattern. Any change in the pattern, I would exit the trade and enter again whenever there is new entry opportunity.
    You are using trend trading to trade I totally agree with you. While my CPO trades uses breakout method and exit immediately when the price does not continue. There will be a lot of in and out (which will make remisier happier). I have don't some research for the pass data 2009 till now basically, and it works ok (on paper of course). I am still testing it out and doing some tuning using real money so that I can experience the emotion part which is the most difficult one.

    Thanks

    ReplyDelete