Monday, August 9, 2010

Short To Exit CPO


Date of entry: 28 July 2010
I longed CPO Oct 2010 Future Contract at 2516 (1 contract) as it opened higher than the previous two candlestick bar couple with the price stayed well above moving averages.
This is the first trade since I changed my trading method to using daily chart instead of the previous 1 hourly chart; less trading activities and more relax.


Date: 30 July 2010
Still Holding On Long CPO Position
I still hold on to my long position. It was scary at times when the price went as low as 2495. The price managed to close above previous closing price at 2517.

Date: 6 Aug 2010
Are We Looking At 2700?
It has been an 8th days since I initiate my long position. Are we looking at 2700 mark? Honestly I don't know and I don't care as long as it does not violate my stop loss.

Date of exit: 9 Aug 2010
Short To Exit CPO
I shorted to exit CPO Oct Future Contract at 2718 with a profit of 200 points. The price has been up for sometimes now. 200 points gain is good enough for this trade for me


The balance of my account is RM 24,725 after the profit of RM5000 (200points x 1 contract x RM25 = RM5000) (The details of my account is at My Future Trading Account Records 2010 )

22 comments:

  1. Hi Abel,
    Good luck to you.

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  2. Thank you so much ahyan77.

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  3. This is a late-bull trade, very risky !

    By Adam

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  4. Adam,
    For the moment, there is still chance CPO will break its recent highest 2435. Bull bear battle today is bull still in control because it never touch the day low. But once break 2435, we need to look out.

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  5. Hi Adam & Mark,

    Technically speaking, the best price to long should be 2435 and higher. My entry is not perfect. I will put a stop loss to protect my position just in case the market does not continue.


    Thanks Again You All For Your Comments.

    Abel

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  6. Hi Abel,
    did you scared out by today trading? Long term CPO is still uptrend, but short term will be swing up and down.so watch out your position

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  7. I was scared this afternoon honestly.

    Thank you so much for your concern. I appreciate a lot.


    Abel

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  8. come to club bro... happy trading

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  9. Based on WEEKLY chart, I might say cpo will hit the MAY 2009 high. My view is base on demand on FESTIVE season.. HARI RAYA PUASA. For myself, I'll go long until October 2010.

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  10. Thank you Don.

    Good thought, Zarudin bin Yusoh.

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  11. 2799/2800 level? Possibly. Short term wise (for this week), i found a few resistance levels at 2608, 2625 and 2664. Wonder if CPO can gap above these levels within this week.

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  12. Hi bloodscalper,

    It looks like the whole market would take a breather for now. Let's see.


    Thanks

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  13. Hi Abel,
    Congratulations, you finally make a big money.

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  14. Thank you so much Mark Chang.

    The trade is still going on and the profit will only confirm when the trade ends.


    Thanks Again

    Abel

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  15. You caught it at the right time. Daily chart seems to be the way to go.

    Congratulations Abel!

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  16. .. Hi GUYS
    Let cheer up, let the CPO burst the resistance. Let us chak kopi .. hehe

    See you all at 3,200.00

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  17. Wow! Zarudin bin Yusoh,
    You are ambitious. Good! Let's see


    Abel

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  18. Hi ABEL,

    you can shortened my name to zaru. I'm in-charge futures in my company.

    I like you website cause it updated. For your info, previously I'm using SMA-H & SMA-L for 12-day period but after read your website, its look like 24-day would be better.

    Thanks a lot :-)

    ReplyDelete
  19. Hi Zaru,

    I am glad that my recommendation works for you.


    Thanks

    Abel

    ReplyDelete