Monday, November 8, 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 )

12 comments:

  1. Abel, look like you are loosing confidence again..

    Muhaidin

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  2. 又有鸟人讲鸟话了。

    ReplyDelete
  3. You are trading futures to help your FBR brother right?

    ReplyDelete
  4. Abel,撇除技术层面不说,昨晚美国股市狂涨,加上本地补选成绩,您的作“长“看来要大大的捞一笔了。贺贺贺.

    ReplyDelete
  5. Hi 华仔 Andy,
    It was a surprise with two good news come together.
    Thank you so much 华仔!

    Abel

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  6. abel.. stick with ur system n dont scared to lose.. it looks like ur stop a bit tight, i used to trade like u way back 12-13years ago.. try to trade with the trend be it min chart or up to 60m chart & please please try not to predict the market

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  7. Hi gt,

    Thank you so much for your advise. I used moving averages of 24 to identify the trend, maybe I will try other number and see.
    As for the stop loss, I will also look into adjusting it by giving it more room.

    You have a very impressive trading account records.

    Regards,

    Abel

    ReplyDelete
  8. Hi Abel,

    Just discovered your blog. Splendid stuff. How love have you been trading futures/forex?

    A.

    ReplyDelete
  9. 嗨 Abel, 不晓得您方便给我您的电邮吗? 好让我发出我的部落邀请函。 您可在您的followers 那儿点击“华仔“发出msg.. 谢谢。

    ReplyDelete
  10. Thank you A,
    I started trading futures 5 years ago and only I was serious in March 2009 last year. That is the time I started this blog too.

    Regards,

    Abel

    ReplyDelete
  11. Hi 华仔,

    I tried to follow your site and send message to you but it seemed that I was not able to log in. My email: bullsa 'at' ymail.com
    (at = @)

    Sorry for the delay.

    Abel

    ReplyDelete
  12. Abel, 没问题.邀请函已发出.请查收. 谢谢.

    ReplyDelete