Thursday, July 8, 2010

Long To Exit At 2307

Date of entry: 7 July 2010
Short CPO Sept 2010 Contract At 2283
I shorted CPO Sept 2010 Future Contract at 2283 for 1 contract. It broke down the low of 2289. Daily and 1 hourly chart are all below 24 moving average indicating bearish market.

Date of exit: 8 July 2010
Long To Exit At 2307
I longed to close at 2307 losing 26 points. The price opened with a gap up. I have no choice but to close.

The balance of my account is RM 19,800 after the loss of RM 650 (26points x RM25 = RM650) (The details of my account is at My Future Trading Account Records 2010 )


  1. Hi,
    Just to know why you choose 24MA as important indicator to gauge your entry level? Mind to share?

  2. Hi Ahyan,

    I started using 24 days moving average from daily chart initially. And there are 22 to 24 trading days in a month, so I choose 24 days for moving average. When I changed to the time frame of the chart from daily to hourly, I realized that it works just well. So I finally picked 24 days for my moving average.