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 )

2 comments:

  1. cool bro, dont panic if u believe in ursystem u will succeed...

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