Monday, December 27, 2010

Site Seeing: Another Candle Sticks Learning Site

I came across another site that explains candle sticks pattern well. The simple 10 candle stick patterns explain it all.
Do check it out:
http://www.candlestickgenius.com/top-10-candlestick-patterns.html

Thursday, December 23, 2010

Stop Loss Hit With Profit


Date of entry: 22 Dec 2010
Long FCPO On Double Break Up
I longed FCPO Feb future contract at 3604 for 1 contract based on 2 hourly chart. I have been using daily chart to trade and now I tried using 2 hourly chart just like my FKLI trading.

Reason to long 1) Price broke up from this morning high
Reason to long 2) Price also broke above moving averages now
Reason to long 3) It is still bullish based on daily chart
Reason to long 4) Candle stick bullish engulfing pattern

The concern: Holiday is near and the volume is small. Less traders take part.


Date of exit: 23 Dec 2010
Stop Loss Hit With Profit
My stop loss was hit at 3649 with a gain of 43 points after contributing 2 points for commissions.


The balance of my account is RM 35,350 after the profit of RM 1075
(43points x RM25 x 1contract = RM 1075)
(The details of my account is at My Future Trading Account Records 2010 )

Tuesday, December 21, 2010

Exited FKLI On 10 Points Target


Date of entry: 21 Dec 2010
Long FKLI - Double Break Up
I initiated long FKLI Dec future contract at 1502.5 after it spiked up to 1507 and retraced to 1502.5.
Reason to buy 1) Broke up of the recent high (blue line on chart)
Reason to buy 2) Broke up of the high of moving average.

Date of exit: 21 Dec 2010 - Same Day
Exited FKLI On 10 Points Target
My target of 10 points gain was reached at 1513.5 after deducting 1 point for commission. The price could go higher, but I prefer to confirm my profit and reenter later if the market continue the upside.


The balance of my account is RM 34,275 after the profit of RM 1000
(10points x RM50 x 2contracts = RM 1000)
(The details of my account is at My Future Trading Account Records 2010 )

Monday, December 20, 2010

FKLI - Stop Loss Hit


Date of entry: 20 Dec 2010
Shorted FKLI - Potential Continuation Of Down Trend
I shorted at 1490.5 for 2 contracts in the morning around 9:30. It could be the continuation of down trend. The price at one point rebounded back to 1497 and that really got me worried.
Reason To Short: The price is well below moving averages
The Concern: The price has been down for 6th days and heading to the 7th based on daily chart.

Date of exit: 20 Dec 2010
FKLI - Stop Loss Hit
My position was stopped out at 1495.5 with a loss of 6 points for each contract after 1 point for commission.


The balance of my account is RM 33,275 after the loss of RM 600
(6points x RM50 x 2contracts = RM 600)
(The details of my account is at My Future Trading Account Records 2010 )

Thursday, December 16, 2010

Exit Final Lot - My Target Reached


Date of entry: 15 Dec 2010
Short FKLI - Break Down
I shorted FKLI Dec 2010 at 1507 for 2 contracts.
Reason 1) It is a break down
Reason 2) The price is now below moving averages.

Date of exit1: 15 Dec 2010
Long To Close Half FKLI Position
I longed to close 1 position at 1504.5 with a little gain of 1.5 points. There is candle stick reversal pattern; 'hammer' emerged with a long tail low of 1500 which is a psychological support level.


Date of exit2: 16 Dec 2010
Exit Final Lot - My Target Reached
I exit the last 1 contract at 1496 with 10 points gain after 1 point for commission. 1496 is my target price.


The balance of my account is RM 33,875 after the profit of RM 575
(1.5points x RM50 x 1contract = RM 75)
(10points x RM50 x 1contract = RM 500)
(The details of my account is at My Future Trading Account Records 2010 )

Friday, December 10, 2010

FKLI Stop Loss Hit


Date of entry: 9 Dec 2010
Reenter FKLI - A Promise Is A Promise
I initiated long position again after I closed my position earlier. The price went high than morning's high of 1518.5 and longed at 1520.5 for 2 contracts. I followed what I initially though of. It might seem 'sayang' and I should have hold on to the trade without exiting. But sometimes, the price just did not advance like the previous weeks; One day up and one day down situation. I am trying hard to avoid situation like that.

Date of exit: 10 Dec 2010
FKLI Stop Loss Hit
My stop loss of 1515.5 was hit with a loss of 6 points (1 point commission included) this morning.


The balance of my account is RM 33,300 after the loss of RM 600 (6points x RM50 x 2contracts = RM 600)
(The details of my account is at My Future Trading Account Records 2010 )

Thursday, December 9, 2010

Long To Exit ALL For FKLI


Date of entry: 8 Dec 2010
Long FKLI On Break Up
I longed FKLI Dec 2010 future contract at 1507 for 2 contracts this morning.
Reason 1) It is a descending line break up
Reason 2) The price stays well above moving averages.

Date of exit1: 9 Dec 2010
Exit 1: For 10 Points Profit
I exited 1 contract at 1518 on opening bell with 10 points profit and remained 1 contract. There is no follow through buying. It looks like FKLI is not strong enough to continue the surge.


Date of exit2: 9 Dec 2010
Long To Exit ALL For FKLI
I exited the balance 1 contract also at 1518 for 10 points profit. I will reenter the long position if the price break up. For now, I confirmed my profit.


The balance of my account is RM 33,900 after the profit of RM 1,000 (10points x RM50 x 2contracts = RM 1,000)
(The details of my account is at My Future Trading Account Records 2010 )

Wednesday, December 1, 2010

The Ugly Picture


I stopped trading FKLI today just wanting to take a break like 华仔 recommended earlier.
Looking at the daily chart of FKLI. Wow! The chart really was ugly; one day up and one day down, one day gap up and one gap down. Trend trader like me is having hard time with situation like this. Swing trader will be laughing all the way to the bank.