Tuesday, November 2, 2010

FKLI - Exit On Stop Loss Hit


Date of entry: 29 Oct 2010
I Longed FKLI Again - Do What I Got To Do
I turned long FKLI Nov 2010 at 1504.5 for 2 contracts.

Date of exti: 2 Nov 2010
FKLI - Exit On Stop Loss Hit
My position was stopped out at 1508.5 with a little gain of 3 points. I will reenter the market if the price would continue the upside. For now, I just wait and see.


The balance of my account is RM 30,600 after the profit of RM 300 (3points x RM50 x2contracts = RM300)
(The details of my account is at My Future Trading Account Records 2010 )

18 comments:

  1. Abel,

    Simple rule: DON'T trade in sideway market, easily whipsawed.

    Chai

    ReplyDelete
  2. Simpler rule;don't be so scared to lose in the market. As we all notice, Abel is just wasting his time enriching his FBR.

    ReplyDelete
  3. Abel, since you trade so frequently (relatively speaking), do you get discount on your trades? The book you recommended was brilliant by Joe Ross... perhaps the 2 contract with intention to cover cost may work if the commission is low enough...

    lengchai6

    ReplyDelete
  4. Hi, Thank you you all for commenting.
    It is obvious that the current situation is in consolidation. I wish I know earlier the sideway market ahead.
    My FBR is not that happy for my 'busy' actions. He is my brother. Every time when his commission from me increases, my profit shrinks. He told me that he rather sees me making profit than earning the little commission from me : )

    Regards,

    Abel

    ReplyDelete
  5. Abel,
    You really need to sit down and actually come out with a better trading system. You're too scared to lose your small profit and in the end you stress yourself out and come out worst than when you started in 2009. Why waste your time trading if you can't even match the banks FD rates?
    The only blogger so far which I have come across consistently up year in and out is GT ..the rest seems to blow themselves up by over trading or stopped posting their results when they start losing.Why don't you just tail gate Gt or even ask him to teach you the basics of trading than wasting your time and stressing yourself out with your 'system'?
    Or is your purpose of trading is to start and maintain a blog? If that's the case you have exceeded your goals.
    No offence intended with my comments.

    ReplyDelete
  6. Hi,
    Thank you for your recommendation. I will check out GT.
    I have done my back testing many times using different time frame; daily, 4 hourly, 2 hourly and 1 hourly even 15 minutes. It turned out my trading method fit better at 2 hourly chart. That was why I use 2 hourly chart. I am not blindly or emotionally entering and exiting the trade. You may think that my stop loss is too near, but that is the way that to minimize my losses and let the profit run.
    I know back testing defer from real trading, that is why I am using small account for this purpose.
    My method changed over time since I started in April 2009. And up till now, I am still adjusting my method. The current method that I am using has improved my capital (from the worse RM18,000 till now).
    These few round of wild swing really suck out my capital. I am rechecked my trades to see how I could improve my trade.


    Regards,

    Abel

    ReplyDelete
  7. like frank sinatra sang " I did it my way..".. your "revised" method seems to be on the winning side and served you well...except for few rounds...keep it up..

    lengchai6

    ReplyDelete
  8. Hi LengChai6,

    Thank you so much for your encouragement.

    Abel

    ReplyDelete
  9. Hi Abel,
    I'm newbie and interest in derivative, wish to ask which FBR or platform u r using or recommending? Isit possible for me to access to free FCPO hourly chart an using those indicator? Thx..

    JMC

    ReplyDelete
  10. Hi JMC,
    Welcome on board. There are many FBR around, you could use any one of them as long as they are near you.
    For what I know, none of free FCPO hourly chart with indicators is available (I am using Nextview with month fee of RM200+).

    Regards,

    Abel

    ReplyDelete
  11. Try OSK188 OMS... they have FCPO hourly chart for half year subcription of RM120 or something like that...

    lengchai6

    ReplyDelete
  12. Hi Abel & Lengchai6,

    Thx for answering newbie question. Happy trading..

    Regards,

    JMC

    ReplyDelete
  13. Abel,

    有些人是唯恐天下不乱, 您赚钱的时候他们静鸡鸡, 行情不好的时候他们就出现。 以前那么多的“师父“级人马喜欢在这指指点点。 那些“师父“级人马现在很多都已经“执笠“了咯.

    还是您作的对, 信自己最酷.

    华仔

    ReplyDelete
  14. When we trade, whose money are we risking? Since we trade for ourselves, we should believe in ourselves. How many times have we heard this common saying "See, I told you so" when the so-called "tips" offered by someone makes money. If the "tips" turn out to be wrong, the "adviser" will just keep quiet.

    We should develop our own system/strategy and slowly adjust it overtime till it becomes part of you.

    Well said, 华仔!

    Trader88

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  15. hi abel, don't know about you but google translator helps a lot on translating those mandarin to english... :)

    lengchai6

    ReplyDelete
  16. Hi LengChai6,

    Yes, I tried just now. It turned up to be very helpful. At least we could understand the meaning of it.

    Abel

    ReplyDelete
  17. Hi Hi,

    Sorry sorry I ingat Abel and lengchai can read Chinese.. I also try google translat, walao.. some chinese words become dirty words.. so let me translate a bit with my rojak english. hope you can understand oh..

    macam in:

    Some people like to kakacaucau, when you make money they diam diam like dead chicken, when market not good, they come out and teach people how to make untung. I saw many sifu talkers here before, but many now alerady out of bisiness,

    what you doing is truthful, trust in yourself is cool.

    HuaZai (not Andy.. hahaha)

    ReplyDelete
  18. Hi 华仔 Andy (Sound Good),
    Thank you so much for trying for the translation. I can read Chinese too, I do understand what you wrote.

    Regards,

    Abel

    ReplyDelete