Friday, July 30, 2010

Auto Closed My Long Position


Date of entry: 23 July 2010
Long FKLI At The Open: High Price Lah!
I longed FKLI July 2010 contract at 1347 at the open for 2 contracts. Well, it opened with a gap and so far it is doing alright. I put tight stop loss just in case the market does not continue.

Date of exit: 30 July 2010
Auto Closed My Long Position
FKLI closed at 1356.50 at the end of July 2010 with a profit of 8.5 points for ech contract after deduction of 1 point for commission.


The balance of my account is RM 19,775 after the profit of RM 850 (8.5points x 2contracts x RM50 = RM) (The details of my account is at My Future Trading Account Records 2010 )

VEGOILS-Palm oil off 3-month highs after weather rally

(3 August 2010)
* Palm eases on profit-taking but weather concerns support
* Players eye July production data
* July palm oil output seen up 3-4 pct vs June

KUALA LUMPUR, Aug 3 (Reuters) - Malaysia crude palm oil
futures settled down 0.31 percent on Tuesday, slipping off
three-and-a-half month highs of the previous day as investors
who had bet on a weather-driven rally closed their positions.
Palm oil has clawed back some of its losses so far this year
due to mounting concerns about the effect of dry weather on
rival soy crops in the U.S. and European rapeseed and to heavy
rains that disrupted palm oil production.
The benchmark October contract on Bursa Malaysia
Derivatives Exchange closed down 8 ringgit or 0.31 percent at
2,562 ringgit ($811) per tonne. The previous day, the market hit
a level of 2,583 ringgit, a level unseen since April 9.
Overall traded volume rose to 17,244 lots of 25 tonnes each,
compared with the usual 10,000 lots.
"It's more of a profit-taking after gaining in five days.
But the market is still firm," said a trader in a foreign
brokerage in Kuala Lumpur.
On Monday, cargo surveyor Societe Generale de Surveillance
reported a 4.7 percent increase in Malaysia's July palm oil
exports, driven by higher demand from Pakistan for the Muslim
fasting month of Ramadan in mid-August. [PALM/SGS]
Reuters technical analysis showed Malaysia's October
contract is likely to consolidate between 2,540 ringgit and
2,580 ringgit per tonne as its rise is seen as weak.
But traders expect palm oil prices to derive support from
from crude oil and global weather woes.
Market players also await fresh leads from a slew of key
palm oil data, including July's production from Malaysian Palm
Oil Board next week.
"Nobody wants to sell down the market in a big way until
MPOB data is out, which is expected to be bullish because July
output is seen only increasing by 3 to 4 percent," another
trader said.
Monthly palm oil output normally can increase 5-7 percent as
it enters high production season in July-September, but yields
were reduced by hot weather with the event of El Nino last year
followed by a brewing La Nina, which brings more rains in
Southeast Asia palm oil producing countries.
Oil prices slipped back from three-month highs towards $81
on Tuesday as stock markets consolidated ahead of key U.S.
economic data.
Firmer crude supported other vegetable oils. U.S. soyoil for
September delivery barely moved in Asian hours, while the
most-active May soyoil contract on China's Dalian
Commodity Exchange rose 0.48 percent.
"Although edible oils demand for mid-autumn festival and
National day has risen recently, it is minimal," said a
Shanghai-based oil analyst.
China will celebrate the festival and National day in late
September and early October.

INDONESIA PALM TRADES
Jakarta-based PT KBN Nusantara, formerly known as the state
marketing centre, sold 4,500 tonnes of crude palm oil in an
auction on Tuesday, with the top price at 7,773 rupiah ($0.869)
per kg, against 7,806 rupiah per kg the previous day.[OILS/TEND]
Producers in Medan, home to Indonesia's main palm oil export
port of Belawan in Sumatra island, sold crude palm oil at 7,780
rupiah per kg. There was no palm oil auction in Medan on Monday.
Refiners in Jakarta offered refined, bleached, deodorised
(RBD) palm olein -- used as cooking oil -- at 8,050-8,100 rupiah
per kg, against 8,000 rupiah per kg on Friday.

Tuesday, July 27, 2010

CPO - Healthy Correction Finally


CPO Oct 2010 Future opened with a gap down at 2460 and reached the low of 2434. It is a healthy correction with 3 black candles in a row (3 days). I am waiting to long when the correction over if the bullish can resume. I am following the price action closely.

Monday, July 26, 2010

CPO - I Miss The Board


CPO Sept 2010 Future Contract surged remarkably well since it broke 2372 (based on 24 moving average) on 14 July 2010. I did not act faster enough to long and I miss the board. There is no correction since than. I am still waiting for the healthy correction then decide on the next move.

Wednesday, July 21, 2010

FKLI Failed To Continue Up


Date of entry: 19 July 2010
Reverse To Long FKLI
The moment I was stopped out, I added to long 2 more contracts at 1340.

Date of exit: 21 July 2010
FKLI Failed To Continue Up
I shorted to close the position at 1341 with break even. The price opened high but failed to follow through and also it hit the recent high of 1347.5 which is the resistant for the moment.

Monday, July 19, 2010

Short FKLI At The Open


Date of entry: 19 July 2010
Short FKLI At The Open
I shorted FKLI at 1333 with 2 contracts this morning the opening price. The price opened with a gap down and broke below recent low (refer to the blue line). I am not comfortable with this trade honestly as I have not been trading FKLI. I just do according to my system.

Date of exit: Same Day
Long To Close At 1340
The price hit my stop loss at 1340 lossing 8 points including 1 point for commission.


The balance of my account is RM 18,925 after the loss of RM 800 (8points x 2contracts x RM50 = RM800) (The details of my account is at My Future Trading Account Records 2010 )

Thursday, July 15, 2010

Trade CPO Using Daily Chart

In case you are wondering if I still trade, I have been doing lots and lots of back testing using different methods and various time frame; 30 minutes, 1 hour, 2 hours, 4 hours, daily and weekly.
I decided to trade CPO using Daily Chart. It seemed that daily chart produced the most profit (paper trade of course) when I did the back testing of 2009 and 2010. I am not going to tell you the performance as it is just a back testing. All I can say is that it is good, really good.
CPO daily chart has less 'noise'. Any intra day charts would give us lots and lots of false breakout till we run out of bullets.
Trading daily chart allow me to have more time to analyse and relax too.

Wish me luck!

Friday, July 9, 2010

Shooting Star - Short To Close FKLI


Date of entry: 9 July 2010
Long FKLI On Break Up
I opened long position at 1324 for FKLI July contract for 1 contract on the break up. The price is well above moving average indicating bullishness of the market at least hourly for the day.

Date of exit: Same Day
Shooting Star - Short To Close FKLI
I also shorted to close FKLI at 1327 with a little profit of 2 points (RM100). The previous bar is kind of shooting star. I ran and will reenter later too.


The balance of my account is RM 19,725 after the profit of RM 100(2points x RM50 = RM100) (The details of my account is at My Future Trading Account Records 2010 )

Exit The Trade, Reenter Later


Date of entry: 9 July 2010
Also Long CPO Now
I longed CPO Sept 2010 future contract at 2316 for 1 contract now. It is a break up with the price just broke above moving average (the last candle). There is higher chance that the price could continue go up.

Date of exit: Same day
Exit The Trade, Reenter Later
I shorted to close the trade since it did not continue with the price of 2308 at the loss (7 points including 1 point for commission). You may think that I am too sensitive. Well, I am using candlestick pattern for the call. I will reenter if the price continue going up

The balance of my account is RM 19,625 after the loss of RM 175 (7points x RM25 = RM175) (The details of my account is at My Future Trading Account Records 2010 )

Thursday, July 8, 2010

Long To Exit At 2307


Date of entry: 7 July 2010
Short CPO Sept 2010 Contract At 2283
I shorted CPO Sept 2010 Future Contract at 2283 for 1 contract. It broke down the low of 2289. Daily and 1 hourly chart are all below 24 moving average indicating bearish market.

Date of exit: 8 July 2010
Long To Exit At 2307
I longed to close at 2307 losing 26 points. The price opened with a gap up. I have no choice but to close.


The balance of my account is RM 19,800 after the loss of RM 650 (26points x RM25 = RM650) (The details of my account is at My Future Trading Account Records 2010 )

Tuesday, July 6, 2010

Long To Exit At 1291


Date of entry: 5 July 2010
Short FKLI At 1297
I shorted FKLI for 1 contract at 1297. It is a nice break down. I will exit the moment the price does not make lower low.

Date of exit: 6 July 2010
Long To Exit At 1291
I longed to exit my trade at 1291 making 5 points after deducting 1 point for commission. The price opened with a gap down at 1287, but it failed to follow through and bounded back making a bullish candle pattern instead. I closed the position before the confirmation of formation of the bar at 10:00.


The balance of my account is RM 20,450 after the profit of RM 250 (5points x RM50 = RM250) (The details of my account is at My Future Trading Account Records 2010 )

Thursday, July 1, 2010

Took Break To Look Back

I did not trade for the last one week or two as my previous system are not really working costing me 40% draw down. Well, it is really nice to take a break. Everything seems clearer.
I am adjusting my trade system now by looking into more elements instead of just the simple price breakout. I will still do my back testing as usual to test it out. It is my passion to do research on financial market trading. I still believe that it is the best way to build our fortune.