Tuesday, November 30, 2010

Opss! FKLI Stop Loss Hit


Date of entry: 30 Nov 2010
Long FKLI Dec 2010 Future Contract
I longed FKLI Dec 2010 future contract at 1493 for 2 contracts.

Date of exit: The Same Day
Opss! FKLI Stop Loss Hit
I could not believe it. My position was stopped out at 1483 with a loss of 11 points for each contract. I have nothing to say.


The balance of my account is RM 32,900 after the loss of RM 1,100 (11points x RM50 x 2contracts = RM 1,100)
(The details of my account is at My Future Trading Account Records 2010 )

No Follow Through - Exit FKLI


Date of entry: 29 Nov 2010
Long FKLI Now
I long FKLI Nov 2010 future contract at 1493.5 for 2 contracts. I can hold the position till tomorrow. It should be ok for me. The price is now above moving averages.

Date of exit: 30 Nov 2010
No Follow Through - Exit FKLI
I shorted to close the trade at 1487 with a loss of 7.5 points for each contract since the price did not continue the upside.


The balance of my account is RM 34,000 after the loss of RM 750 (7.5points x RM50 x 2contracts = RM 750)
(The details of my account is at My Future Trading Account Records 2010 )

Monday, November 29, 2010

Exit FCPO To Feel The Profit


Date of entry: 25 Nov 2010
Immediate Reversed To Long CPO
I reversed to long FCPO at 3243 for 1 contract right after I closed my short position.

Date of exit: 29 Nov 2010
Exit FCPO To Feel The Profit
I shorted to close my position at 3375 with a gain of 130 points. There is not much reason for me to exit except that I want to feel the profit. The price might continue, but 130 gains is good enough.


The balance of my account is RM 34,750 after the profit of RM 3,250 (130points x RM25 x 1contract = RM 3250)
(The details of my account is at My Future Trading Account Records 2010 )

10 Points Profit Target For FKLI

I did lots and lots of back testing over the weekend and I found out that setting a 10 points profit for each trade seems to be a good way.
I initially did not believe it thinking that I should let the profit run. Out of so many trades for the period of 6 months (based on FKLI 2 hourly chart), 20 points and above gains only occur few times; 4 times actual. We are dealing with probability. If the market has a higher chance to hit 10 points rather than 20 points, why must I try to achieve 20 points and at the end, I got even lesser because the market turn around.

At the time of writing this article, the market continue the plunge for another 13.5 points to 1471. I could have exited at 1475.5 with a pretty profit of 10 points and that's it. Sounds Good right?

FKLI - Exit Trade - No Follow Through Selling Down


Date of entry: 26 Nov 2010
Short FKLI At 1486.5 - Do You Dare?
I reversed my position and shorted FKLI Nov 2010 future contract at 1486.5 for 2 contracts. I don't have to tell you the feeling. It really sucks.

Date of exit: 29 Nov 2010
FKLI - Exit Trade - Long Follow Through Selling Down
I exited the trade at 1484.5 for the two contracts with the reason that the price did not open with a gap down following the US market selling down on Friday. Moreover, it has been down for continuing 5 sessions (candles), there is high chance that the market will rebound.


The balance of my account is RM 31,500 after the profit of RM 100 (1point x RM50 x 2contracts = RM 100)
(The details of my account is at My Future Trading Account Records 2010 )

Friday, November 26, 2010

FKLI - My Long Position Was Stop Out!!


Date of entry: 26 Nov 2010
Long FKLI On Opening Bell
I longed FKLI of Nov 2010 on opening bell at 1505 with 2 contracts. I am not willing to take the shoot actually but this is my trading method. I proceeded. It is a break up and the price is now above moving averages. Close monitoring is much needed in this trade.

Date of exit: The Same Day
My Long Position Was Stopped Out!!
The price opened with a gap down and I managed to exit at 1486.5 with a huge loss of 19.5 points for each contract (Loss of RM1950 in total).


The balance of my account is RM 31,400 after the loss of RM 1,950 (19.5points x RM50 x 2contracts = RM 1,950)
(The details of my account is at My Future Trading Account Records 2010 )

My Comment:
Apparently, my method needs some adjustment. For volatile market like this, what ever I use; tight stop loss or lenient stop loss. They would cost me money. Imaging you place a stop loss far, the losses could be disaster when the stop loss is hit. But if I put the stop loss too close, we would end up busy getting in and out all the time.
For price target, if I only look at 10 or 20 points to exit, I might limit my profit potential. However, if I turn greedy, I would end up not getting any profit at all like my recent FKLI trades.
I am looking into candle stick chart pattern as an indicator for my trading. I will do some back testing over the weekend and see how it goes.

Thursday, November 25, 2010

Cut Loss At the Open - FCPO


Date of entry: 23 Nov 2010
Short CPO Feb 2010 Future Contract
I shorted CPO Feb 2010 future contract at 3169 for 1 contract.

Date of exit: 25 Nov 2010
Cut Loss At the Open - FCPO
I longed to close my position at the open with a price of 3243 with a big loss of 76 points!


The balance of my account is RM 33,350 after the loss of RM 1,900 (76points x RM25 x 1contract = RM 1,900)
(The details of my account is at My Future Trading Account Records 2010 )

Long To Exit FKLI At The Open


Date of entry: 23 Nov 2010
I Short FKLI Now - Fast And Furious
I shorted FKLI Nov 2010 future contract for 2 contracts right after I exited my long position which was done few days ago. The price managed to break 1) Recent low (refer to chart) and 2) Below the low of moving average.

Date of exit: 25 Nov 2010
Long To Exit FKLI At The Open
I longed to exit at 1494 at the open with a loss of 2 points. The price opened with a gap up correspondent with the up of Dow Jones over night.


The balance of my account is RM 35,250 after the loss of RM 200 (2points x RM50 x 2contracts = RM 200)
(The details of my account is at My Future Trading Account Records 2010 )

Tuesday, November 23, 2010

FKLI - Stopped Out


Date of entry: 19 Nov 2010
FKLI - Long On Opening Bell
I longed FKLI Nov 2010 this morning when market started at 1500.5 for 2 contracts. The mixed feeling really sucks. I am following my trading method and this is what I supposed to do.

Date of exit: 23 Nov 2010
FKLI - Stopped Out
My position was stopped out at 1499 with a loss of 2.5 points for each contract. The price did not continue the upside. It means that the market is not strong enough to push the price higher. Running away seems to be a good solution for now.


The balance of my account is RM 35,450 after the loss of RM 250 (2.5points x RM50 x 2contracts = RM 250)
(The details of my account is at My Future Trading Account Records 2010 )

Thursday, November 18, 2010

FKLI - Stopped Out At 1495


Date of entry: 15 Nov 2010
FKLI - Reenter Short Position
I reentered short position for FKLI Nov 2010 future contract at 1487.5 for 2 contracts.

Date of exit: 18 Nov 2010
FKLI - Stopped Out At 1485
My position was stopped out at 1495 with a loss of 8.5 points for each contract (1 point commission is included).It is obvious that the market is resting after the recent plunge. I am out now and waiting for the next opportunity.


The balance of my account is RM 35,700 after the loss of RM 850 (8.5points x RM50 x 2contracts = RM 850)
(The details of my account is at My Future Trading Account Records 2010 )

Monday, November 15, 2010

Exit On Stop Loss Hit - FKLI


Date of entry: 11 Nov 2010
Reversed To Short FKLI After The Stop Loss Hit
I reversed to short FKLI Nov 2010 Future Contract at 1513.5 for 2 contracts right after I was stopped out my long position. It is a break down and the price stays at below moving averages.

Date of exit: 15 Nov 2010
Exit On Stop Loss Hit - FKLI
My position was stopped out at 1499.5 with a gain of 13 points. Apparently, the down trend has just started and the current bound seems like a technical rebound. Since my stop loss was hit indicating that the bear is resting for now and I am waiting for the next opportunity to emerge.


The balance of my account is RM 36,550 after the profit of RM 1300 (13points x RM50 x 2contracts = RM 1300)
(The details of my account is at My Future Trading Account Records 2010 )

Thursday, November 11, 2010

FKLI - Exit On Stop Loss Hit


Date of entry: 9 Nov 2010
Initiate Long Again - FKLI
I initiated long position for FKLI Nov 2010 future contract at 1523 for 2 contracts again. I could have longed this morning based on my usual method but I was busy. This is the second time that the price tries to reach the high at the time of writing this blog.

Date of exit: 11 Nov 2010
FKLI - Exit On Stop Loss Hit
My stop loss was hit at 1513.5 with a loss of 10.5 points (1 point commission included). This trade, I would have exited at 1516.5 based on my usual method. I tried to give it more room so that I would not appear to be too scared to lose, but it did not turn out right. It is important to stick to my original plan.


The balance of my account is RM 35,250 after the loss of RM 1050 (10.5points x RM50 x 2contracts = RM 1050)
(The details of my account is at My Future Trading Account Records 2010 )

Wednesday, November 10, 2010

Exit Long FCPO Position - Hang Man Candle Stick Pattern


Date of entry: 9 Nov 2010
Long FCPO - Bullish Engulfing - Mission Impossible
I longed again FCPO Jan 2011 future contract for 1 contract. It is a bullish engulfing candlestick pattern with the price broken new high. It is like a mission impossible. I am totally nervous about this trade. But a breakup is a breakup.

Date of exit: 10 Nov 2010
Exit Long FCPO Position - Hang Man Candle Stick Pattern
I shorted the long position at 3378 with a small profit of 19 points. If the price closes at this level, the candlestick chart pattern would be 'Hang Man'; a potential reversal signal. There is still need one more bar (day) for the confirmation. I exited the trade simply for not willing to take the risk.


The balance of my account is RM 36,300 after the profit of RM 475 (19points x RM25 x1 contract = RM 475)
(The details of my account is at My Future Trading Account Records 2010 )

Monday, November 8, 2010

Exit FCPO - Candle Stick Shooting Star


Date of entry: 28 Oct 2010
Long FCPO - Bullish Engulfing
I initiated long CPO Jan 2010 future contract again for 1 contract. It is a bullish engulfing candlestick pattern. There is a high chance of continue trend. I am really not comfortable as I was stopped out yesterday and now I longed again at much higher price.

Date of exit: 8 Nov 2010
Exit FCPO - Candle Stick Shooting Star
I shorted to exit the trade at 3286 with a gain of 208 points. It is a candle stick shooting star emerged. No body knows for sure what the next direction the price will be, but one thing is sure; my 208 gain points.


The balance of my account is RM 35,825 after the profit of RM 5200 (208points x RM25 x1 contract = RM 5200)
(The details of my account is at My Future Trading Account Records 2010 )

FKLI - Exit On Stop Loss Hit


Date of entry: 3 Nov 2010
Long FKLI - Potential Continuation Of Trend
I initiated long position of FKLI Nov 2010 future contract at 1513.5 for 2 contracts. It could be a continuation of the up trend since the price maintained well above moving averages. It will be pretty if the price could close at the high and form bullish engulfing candlestick pattern.

Date of exit1: Same Day
Exit Half FKLI - Looks Sideway
I exited 1 contract at 1512.5 at a loss of 2 points since the price did not continue. The long tail of white candle does not look pretty. This could be a sideway market.(2points x RM50 = RM100)


Date of reentry: 4 Nov 2010
FKLI - Add On Long Position
I reentered the market at 1517 for 1 contract.

Date of exit: 8 Oct 2010
FKLI - Exit On Stop Loss Hit
My position was stopped out again at 1517.5 for both contracts;

Trade 1) 1512.5 - 1513.5 - 1 = -2 points
Trade 2) 1517.5 - 1513.5 - 1 = 3 points
Trade 3) 1517.5 - 1517.5 - 1 = -0.5 points
With the total gain of 0.5 points = profit of RM25 only
I am in the process of retuning my stop loss strategy till then I will still use my usual stop loss method which is quite sensitive.

The balance of my account is RM 30,625 after the profit of RM 25
(The details of my account is at My Future Trading Account Records 2010 )

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 )