CPO Daily Chart Updates

FCPO March Future contract is now at the previous high territory indicating that this could be the resistant.
I missed the board of trading long. I have to patiently wait for the next round. What to do.

We Are Traders! Nice video for us

I came across a nice video for follow traders,

Check it out:

We Are Traders

What Do You Think Of Stop Loss Placement

Hi there,
Any one could suggest to me the best strategy for stop loss placement? Placing too near to the price, our position will be kicked out all the time. If we place it too far, the losses could be huge.
As we all know, placing stop loss is the most important strategy when trading to protect our investment.

Please feel free to suggest. Thanks

Shorted To Close - Another Busy For Losing Trade

Date of entry: 14 Dec 2011
Long CPO For Potential Rebound
I longed CPO Feb 2012 Future Contract at 3005 in the afternoon after the price shot up to 3006 then back to 3005. There is high chance for the rebound.

I did not usually hold over night when I am against the trend (below moving averages in this case). I did it because the price has been down. The stop loss is placed at all time.

Date of exit: 15 Dec 2011
Shorted To Close - Another Busy For Losing Trade
I shorted to close my position at 2997 with a loss of 10 points (2 points for commissions). I have nothing to say about this trade. The market can do what ever it wants. Yesterday, everything seemed so great and today with a gap down.

The balance of my account is RM13,200 after the loss of RM250.
(The details of my account is at My Future Trading Account Records 2011 )

FKLI Failed To Drop Further - Exit Short

Date of entry: 8 Dec 2011
Short FKLI On 2nd Time Broke Down Previous Low
I shorted FKLI Dec 2011 Future Contract at 1472 on second time broke the support (the previous low of 1473.50). The index stays well below moving averages.

Date of exit: Same Day
FKLI Failed To Drop Further - Exit Short
I longed to close the position at 1470.5 with 0.5 point gain (RM25). The future index did not fall further. I closed the position and wait for the next opportunity.

The balance of my account is RM13,425 after the profit of RM25.
(The details of my account is at My Future Trading Account Records 2011 )

Short To Exit FKLI

Date of entry: 6 Dec 2011
Long FKLI Dec 2011 - Potential Rebound
I longed FKLI Dec 2011 Future Contract at 1481.50 for a potential rebound since it hit the moving averages.
I stopped trading FKLI since June 2011 and I thought it is time to start trading one. Wish Me Luck.

Date of exit: 7 Dec 2011
Short To Exit FKLI
I shorted to close my position at 1486.50 with 4 points gain (1 point deducted for commission). The index failed to break up and stayed well below moving averages. (Chart will be provided later).

The Profit: RM200 (4points x RM50 x 1 contract = RM200)

The balance of my account is RM13,400 after the profit of RM200.
(The details of my account is at My Future Trading Account Records 2011 )

OK I am Out at 3251

Date of entry: 21 Nov 2011
Short CPO Feb 2012
I shorted CPO Feb 2012 future contract at 3210 (1 contract) for potential beak down. Bear in mind this could be a sideways market, not much down side for what I know.

Date of exit: Same Day
OK I am Out at 3251
I closed my position with a loss again at 3251 when the price is shooting upward crazily.

The Loss: RM1050 (52points x RM25 x 1contract= RM1050)

The balance of my account is RM13,450 after the loss of RM1050.
(The details of my account is at My Future Trading Account Records 2011 )

Comment: This is a typical sideways market, either way; long or short, I will loss money.

Potential Sideways - CPO 2 Hour Chart

CPO futures have been up remarkably for almost 400 points. With such a surge, there is high chance that the market would rest.

CPO Daily Chart

Hi, It has been a while since my last update. I was busy with working out and testing out my new trading strategy. Honestly, lots of hard work, patience and passion needed to continue.

Following is daily chart of cpo as at 12:30pm 18 Nov 2011; It could be a sideways ahead.

Long to close position

Date of entry: 9 Nov 20011
Shorted FCPO In Afternoon Session
I shorted FCPO Jan 2011 Future Contract at 3039. There is no strong reason to short accept that candle stick pattern called hangman emerged at the first bar of the day (2 hourly chart).

Date of exit: 10 Nov 2011
Long to close position
I longed to close my short position at 3063 with a loss again at 26 points (2 points for commission).

The Loss: RM650 (26points x RM25 x 1contract = RM650)

The balance of my account is RM14,500 after the loss of RM650.
(The details of my account is at My Future Trading Account Records 2011 )

Placing Stop Loss

I am going to change my stop loss placement method.
I used to place the stop loss lower than the previous two candle stick lows when trading. As you could see, I was stopped out all the time.
After long researching and back testing, I will change my stop loss placement further rather than my usual basing on my previous last two bars.
You would be able to see how am going to place it during trading. Wish Me luck!

Close Long Position At 2935

Date of entry: 2 Nov 2011
Long CPO At 2950 - Gap Open
I longed FCPO Jan 2011 Future contract at 2950 for 1 contract. This is a gap up.


Date of exit: 3 Nov 2011
Close Long Position At 2935
I shorted to close at 2935 with a loss of 17 points (2 points for commissions). Which ever direction I take, I loss. This is extremely heart broken.

The Loss: RM425 (17points x RM25 x 1contract = RM425)

The balance of my account is RM15,150 after the loss of RM425.
(The details of my account is at My Future Trading Account Records 2011 )

Exited My Trade At 2936 With Loss Again

Date of entry: 1 Nov 2011
Long Jan 2011 FCPO At The Open
I longed FCPO Jan 2012 Future Contract at 2956 for 1 contract. The price has corrected well from the high. There is a high chance that the market could go up. My stop loss is always in place just in case.

Date of exit: Same Day
Exited My Trade At 2936 With Loss Again
I exited the trade at 2936 with a loss of 21 points (1 point for commission). The price did not continue the up swing this morning. I am kind of use to it.

The Loss: RM525 (21points x RM25 x 1contract = RM525)

The balance of my account is RM15,575 after the loss of RM525.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Hit in real Last Minute

Date of entry: 24 Oct 2011
Long FCPO On Break Up
I longed FCPO Jan 2011 Future Contract at 2906 for 1 contract. It is a break up. Any weakness I would close the position.

Date onf exit: Same Day
Stop Loss Hit in real Last Minute
My stop loss was hit at the worse possible time; the real Last Minute at 2898 with a loss of 9 points. I am speechless.

The Loss: RM225 (9points x RM25 x 1contract = RM225)

The balance of my account is RM16,100 after the loss of RM225.
(The details of my account is at My Future Trading Account Records 2011 )

Close Short Position At 2847

Date of entry: 20 Oct 2011
Short FCPO At The Open Gap Down
I shorted FCPO Jan 2012 Future Contract at 2825 for 1 contract.

Date of exit: Same Day
Close Short Position At 2847
My stop loss is hit at 2847 with a loss of 23 points with 1 point commission (RM575).

The Loss: RM575 (23points x RM25 x 1contract = RM575)

The balance of my account is RM16,325 after the loss of RM575.
(The details of my account is at My Future Trading Account Records 2011 )

Close Short Position On Opening Bell

Date of entry: 18 Oct 2011
late Report - I Shorted FCPO Jan 2012 Earlier
I placed short position of FCPO Jan 2011 earlier at 2826 and I was filled. The price bounded back right after I shorted. The price is below moving averages and broken morning's low. I honestly feel nervous as it rebounded right after I shorted.

Date of exit: 19 Oct 2011
Close Short Position On Opening Bell
I longed to closed the position at 2855 with a loss of 31 points (RM775). It is a gap up which could mean a continuation of the up trend.

The Loss: RM775 (31points x RM25 x 1contract = RM775)

The balance of my account is RM16,900 after the loss of RM775.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Hit At 2901

Date of entry: 14 Oct 2011
Long FCPO Dec 2011 On Break Up
You know me. I longed FCPO Dec 2011 Future Contract at 2881 (1 contract) on the break up of recent high 2879.

Date of exit: 17 Oct 2011
Stop Loss Hit At 2901
My position was stopped out at 2901 with a gain of 18 points with 2 points as commission. I was waiting for the price to go either way actually. It chose the down site.

The Profit: RM450 (18points x RM25 x 1contract = RM450)

The balance of my account is RM17,675 after the profit of RM450.
(The details of my account is at My Future Trading Account Records 2011 )

Exited Long Position

Date of entry: 12 Oct 2011
Late Report - Long FCPO On Opening Bell
I longed this morning FCPO Dec 2011 Future Contract at 2854 on opening bell. I trade based on break out, this is one of the major breakup and I have to be in even if I feel the price is a bit too high.

Date of exit: 13 Oct 2011
Exited Long Position
My stop loss was hit at 2836 with a loss of 20 points with 2 points commission added.

The Loss: RM500 (20points x RM25 x 1contract = RM500

The balance of my account is RM17,225 after the loss of RM500.
(The details of my account is at My Future Trading Account Records 2011 )

Out Again

Date of entry: 10 Oct 2011
Reentered Short Position at 2786
I reversed to short FCPO Dec 2011 Future Contract at 2786. I have nothing to say. This is my trading plan, I have to follow even I feel sad; My stop loss is meant to be near so to minimize the losses. The market could be choppy at times (like now).

Date of exit: Same Day
Out Again
I am out again at 2798 with a loss of 13 points.

The Loss: RM325 (13points x RM25 x 1contract = RM325)

The balance of my account is RM17,725 after the loss of RM325.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Reached At 2787

Date of entry: 10 Oct 2011
Reversed To Long CPO
I turned long FCPO Dec 2011 future contract at 2807 for 1 contract. This is a overdue rebound that I have been waiting for.

Date of exit: Same Day
Stop Loss Reached At 2787
My position was again stopped out at 2787 with a loss of 21 points with 1 point for commission.

The Loss: RM525 (21points x RM25 x 1contract = RM525)

The balance of my account is RM18,050 after the loss of RM525.
(The details of my account is at My Future Trading Account Records 2011 )

Exit Short Position

Date of entry: 7 Oct 2011
Shorted FCPO
I shorted FCPO Dec 2011 future contract at 2777 for 1 contract. It is a breakdown from 2784. I hate to admit it, but the price is still below moving averages.

>Date of exit: 10 Oct 2011
Exit Short Position
I closed my short position at 2800 with a loss of 25 points with 2 points as commission.

The Loss: RM625 (25points x RM25 x 1contract = RM625)

The balance of my account is RM18,575 after the loss of RM625.
(The details of my account is at My Future Trading Account Records 2011 )

Daily Chart UpDate

The following is the FCPO daily chart as at today. With hammer candlestick formation, their is high chance that the market will rebound.


Bean Oil seems oversold too. I have been waiting for the rebound.

Close Short Position

Date of entry: 4 Oct 2011
You Know What, I Shorted
I shorted FCPO Dec 2011 Future Contract at 2822 for 1 contract. A break down is a break down. I have to add according even if I feel lousy.

Date of exit: Same Day
Close Short Position
I closed my short position at 2842 in the afternoon opening session with a loss of 21 points. The market is obvious in sideway mode. It turned out whatever I made lately all gone to waste.

The Loss: RM525 (21points x RM25 x 1contract = RM525)

The balance of my account is RM19,200 after the loss of RM525.
(The details of my account is at My Future Trading Account Records 2011 )

Wow! Position Stopped Out

Date of entry: 4 Oct 2011
Long FCPO For Short Term Bound
I longed FCPO Future Contract at the open: 2863 for 1 contract. This is a nervous trade since I am against the trend. At the time of writing this blog, the price is 2835! You can imaging the tension I am in.

Date of exit: Same Day
Wow! Position Stopped Out
Hello, my position was stopped out at 2823 with a loss of 41 points with 1 point commission included. I know I am against the trend, this is the result.

The Loss: RM1025 (41points x RM25 x 1contract = RM1025)

The balance of my account is RM19,725 after the loss of RM1025.
(The details of my account is at My Future Trading Account Records 2011 )

My Position Was Stop Out At 2850

Date of entry: 30 Sept 2011
Turned Short FCPO
I reversed to short FCPO Dec 2011 Future Contract at 2900 for 1 contract. I was nervous when it was about to reach my stop loss and reverse to short. Tough game.

Date of exit: 3 Oct 2011
My Position Was Stop Out At 2850
My position was stopped out at 2850 with a profit of 48 points with 2 points for commissions. I honestly feel that the market is still bearish. But I have to stick to my original plan to exit when the stop is hit. This is trading.

The Profit: RM1200 (48points x RM25 x 1contract = RM1200)

The balance of my account is RM20,750 after the profit of RM1200.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Reached & Stopped Out

Date of entry: 30 Sept 2011
Long For Potential Rebound
I longed 1 contract at 2918 on opening bell. There is a rebound potential knowing that the price stayed at above recent low of 2850 on daily chart and bean oil has been down & due for rebound.
The concern: The price is still below moving averages.

Date of exit: Same Day
Stop Loss Reached & Stopped Out
My position was stop out at 2900 with 19 points loss.

The Loss: RM475 (19points x RM25 x 1contract = RM475)

The balance of my account is RM19,550 after the loss of RM475.
(The details of my account is at My Future Trading Account Records 2011 )

Exited Trade At 2883

Date of entry: 29 Sept 2011
Reversed To Long FCPO For Day Trade
I reversed to long FCPO Dec 2011 Future Contract at 2885 for 1 contract right after I was stopped out.

Date of exit: Same Day
Exited Trade At 2883
I exited my trade at 2883 with a loss of 3 points with 1 point commission included. This trade is meant for day trade and should not hold overnight.

The Loss: RM75 (3points x RM25 x 1contract = RM75)

The balance of my account is RM20,025 after the loss of RM75.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Out At 2885

Date of entry: 28 Sept 2011
short FCPO
I shorted FCPO Dec 2011 Future Contract at 2910 for 1 contract. Oth daily chart and 2 hourly chat are obvious in down trend mode.

Date of exit: 29 Sept 2011
Stop Out At 2885
My position was stopped out after opening session at 2885 with a gain of 23 points with 2 points for commission.

The Profit: RM575 (23points x RM25 x 1contract = RM575)

The balance of my account is RM20,100 after the profit of RM575
(The details of my account is at My Future Trading Account Records 2011 )

OK Long Position Closed

Date of entry: 27 Sept 2011
Long At The Open For Short Term Bound - If Any
I longed at the open at 2935 for 1 contract. I am against the trend so it will be a day trade only unless it could continue the bound. I do not usually do that but I did some back testing and it works fine. So I trade this method for real to see if it works.

Date of exit: Same Day
OK Long Position Closed
I shorted to close my position at 2904 with a loss of 32 points. The bearish candle shows the market is not strong enough. Getting out seems be the idea way since I am against the trend.

The Loss: RM800 (32points x RM25 x 1contract = RM800)

The balance of my account is RM19,525 after the loss of RM800.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Hit At 2919

Date of entry: 26 Sept 2011
Reentered Short Position On Breaking Down
You would have known me by now. I shorted FCPO Dec 2011 Future Contract again at 2943 when it broke the last week low of 2951. Daily Chart is confirmed bearish broken the low of 2951.

Date of exit: Same Day
Stop Loss Hit At 2919
My stop loss was once again hit at 2919 with little gain of 23 points.

The Profit: RM575 (23points x RM25 x 1contract = RM575)

The balance of my account is RM20,325 after the profit of RM575.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Hit At 2989

Date of entry: 22 Sept 2011
Late Report - Shorted FCPO At Afternoon Open
I shorted FCPO Dec 2011 Future Contract at the open of afternoon session with the price of 3010. It opened with a gap down and stayed well below 3023 (refer to blue line). It also managed to break below daily moving averages.

In longer term, FCPO of daily chart is still in sideway mode.


Date of exit: 23 Sept 2011
Stop Loss Hit At 2989
My stop loss was hit at 2989 with lesser gain of 19 points after deducting 2 points for commissions.

The Profit: RM475 (19points x RM25 x1contract = RM475)

The balance of my account is RM19,750 after the profit of RM475.
(The details of my account is at My Future Trading Account Records 2011 )

Short To Close At The Open

Date of entry: 14 Sept 2011
OK Longed FCPO
I longed FCPO Nov 2011 Future Contract at 3016 for 1 contract. I reduced my size to 1 lot only so that I feel 'safer'.

Date of exit: 19 Sept 2011
Short To Close At The Open
I shorted to close at the open at the price of 3043 with a smaller gain of 24 points for each contract. It is a gap down, what can I say.

The Profit: RM625 (25points x RM25 x 1contract = RM625)

The balance of my account is RM19,275 after the profit of RM625.
(The details of my account is at My Future Trading Account Records 2011 )

FCPO SIDEWAY IN DAILY CHART

It is obvious that FCPO is in sideway mode for sometimes now. As a trend trader, I was not doing well.

Stopped Out At 3035

Date of entry: 9 Sept 2011
Long FCPO At 3059
I longed FCPO Nov 2011 Future Contract at 3059 for 2 contracts on afternoon opening session. A break above morning's high of 3052 might turn out to be a rally. I placed stop loss near.

Date of exit: Same Day
Stopped Out At 3035
My stop loss was reached at 3035 with a loss of 25 points for each contract (1 point commission included). OK, I had enough.

The Loss: RM1250 (25points x RM25 x 2contracts = RM1250)

The balance of my account is RM18,650 after the loss of RM1250.
(The details of my account is at My Future Trading Account Records 2011 )

Short To Close On Opening Bell

Date of entry: 8 Sept 2011
Wow! Reversed To Short FCPO
I reversed to short FCPO Nov 2011 Future Contract at 3028 for 2 contracts. The bearish candle stick could be a weakness of the market.

Date of exit: 9 Sept 2011
Short To Close On Opening Bell
I shorted to close at 3046 on opening bell with a loss of 20 points for each contract (2 points added for commissions). It is obvious the market is in side way mode.

The Loss: RM1000 (20points x RM25 x 2contracts = RM1000)

The balance of my account is RM19,900 after the loss of RM1000.
(The details of my account is at My Future Trading Account Records 2011 )

Long & Close FCPO - Busy For Losing Trade

Comment: This is one of the situation a trader will face from time to time; getting in and out, busy for losing. We just do not know what the market is there for us.
Emotionally, I am upset. I would be lying if I told you I am ok. I just have to deal with it.

Date of trade: 8 Sept 2011
Long & Close FCPO - Busy For Losing Trade
I relonged this morning at 3059 for 2 contracts after I have just closed the position at 3059. It was just so bullish that the price went all the way up to the high of 3076.

Then I closed at 3028 this afternoon when the chart formed a bearish candle at 3028 with a loss of 32 points with 1 point commission included.

The loss: RM1600 (32points x RM25 x 2contracts = RM1600)

The balance of my account is RM20,900 after the loss of RM1600.
(The details of my account is at My Future Trading Account Records 2011 )

Closed Long Position At The Open

Date of entry: 6 Sept 2011
Long FCPO - Potential Rebound
I longed FCPO Nov 2011 future contract at 3006 for 2 contracts. There is potential for the rebound.

Date of exit: 8 Sept 2011
Closed Long Position At The Open
I shorted to closed my position on opening bell at the price of 3028 with 20 points gain.

The Profit: RM1000 (20points x RM25 x 2contracts = RM1000)

The balance of my account is RM22,500 after the profit of RM1000.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Triggered At 3043

Date of entry: 2 Sept 2011
Long FCPO At Sky Price
You know what! I longed FCPO Nov 2011 Future Contract at the open; 3069 which turned out to be a Sky Price. FCPO is bullish; staying broke above moving averages.

Date of exit1: 2 Sept 2011
Short To Close Half Of My Position
I shorted to close 1 contract at 3057 before the market was closed with loss of 13 points (1 point commission was added).

The Loss: RM325 (13points x RM25 x 1contract = RM325)

Date of exit: 5 Sept 2011
Stop Loss Triggered At 3043
My stop loss was triggered at 3043 with a loss of 28 points including 2 points commissions.

The Loss: RM700 (28points x RM25 x 1contract = RM700)
The Total Loss: RM325 + RM700 = RM1025

The balance of my account is RM21,500 after the loss of RM1025
(The details of my account is at My Future Trading Account Records 2011 )

Cut Loss At The Open

Date of entry: 19 Aug 2011
Short FCPO Nov 2011 Future Contract
I shorted FCPO Nov 2011 Future Contract For 2 contracts. It is a break down couple with Europe weak market.

Date of exit: 22 Aug 2011
Cut Loss At The Open
I longed to close at 3031 on opening bell with a loss of 38 points for each contact. The price opened with a gap up and also 3000 is for sure a support. Loss is major part of trading, what to do.

The Loss: RM1900 (38points x RM25 x 2contracts = RM1900)

The balance of my account is RM22,525 after the loss of RM1900
(The details of my account is at My Future Trading Account Records 2011 )

Short to exit at 3061

Date of entry: 15 Aug 2011
Longed FCPO At The Open
I longed FCPO Oct 2011 Future Contract on opening bell at the price of 3039 for 2 contracts. It opened with a gap and stay above moving averages.

Date of exit: 16 Aug 2011
Long to exit at 3061
I shorted to exit at 3061 for 20 points gain of each contract. There is no solid reason to sell exept that the market has been up; 5 white candles in a row further more we are in new month contract (November).

The Profit: RM1000 (20points x RM25 x 2contracts = RM1000)

The balance of my account is RM24,425 after the profit of RM1000
(The details of my account is at My Future Trading Account Records 2011 )

Long to close at 2965

Date of entry: 8 Aug 2011
Shorted FCPO On Broke Down
I shorted FCPO Oct 2011 Future Contract at 3007 for 2 contracts when it broke lower than morning low of 3015.

Date of exit: Same Day
Long to close at 2965
I long to exit at 2965 with a gain of 40 points at the afternoon opening. Lesser is better than nothing.

The Profit: RM2000 (40points x RM25 x 2contracts = RM2000)

The balance of my account is RM23,425 after the profit of RM2000
(The details of my account is at My Future Trading Account Records 2011 )

Daily FCPO In SideWay Mode

WHAT CAN I SAY, SIDEWAY MARKET FOR FCPO IN DAILY CHART!



Unfortunately, it took too long for me to realize. Thank you Sky for pointing out.

Hello! My Stop Loss Was Hit At 3107

Date of entry: 1 Aug 2011
Long FCPO Oct 2011 Future Contract
I long FCPO Oct 2011 Future Contract at 3127 for 2 contracts. The price managed to opened with a gap up in the afternoon and above moving averages.

Date of exit: 2 Aug 2011
Hello! My Stop Loss Was Hit At 3107
My stop loss was hit at 3107 (the low of the day) with a loss of 22 points for each contract (2 points for commission). Side way market can really kill.

The balance of my account is RM21,425 after the loss of RM1100
(The details of my account is at My Future Trading Account Records 2011 )