Date of entry: 11 Oct 2010
Long FKLI Before Bursa Starts
I longed FKLI Oct 2010 Future Contract at 1488.5 in the morning before Bursa opened. It is a break up. Chart will be provided later.
Date of exit: 12 Sept 2010
I Am Hit - FKLI Long Exited
My stop loss was hit at 1484.5 in the morning with a loss of 5 points for each contract after adding 1 point for commission. It looks like the up trend is not strong enough to push the price higher. Staying aside and waiting for the next move seems to be a better option for now.
The balance of my account is RM 29,875 after the loss of RM 500 (5points x RM50 x2contracts = RM500)
(The details of my account is at My Future Trading Account Records 2010 )
have you back tested on this way - stop out and initiate the reverse position... like in your case...initiate a new short position...
ReplyDeletelengchai6
Hi LengChai6,
ReplyDeleteI did the back testing before, but the result is not that good. Unless we can go for quick in quick out, making few points then exit. The market is still up trend (price at above moving averages), shorting could be risky.
Regards,
Abel