Tuesday, January 11, 2011

Exit Short CPO Position - No Continuation Of Down Trend


Date of entry: 10 Jan 2011
Short CPO March 2011 - Potential Down Trend Continue
I shorted CPO March 2011 future contract at 3748 for 1 contract. It is a break down with the price stays well below moving average indicating that the down trend might continue.

Date of exit: 11 Jan 2011
Exit Short CPO Position - No Continuation Of Down Trend
I longed to closed the position at 3744 with a little gain of 2 points after deducting 2 point for commissions. The price did not continue the downwards indicating that there might be a rebound couple with the price reached moving average in daily chart. I will reenter the market if the price breaks below the low.

The Profit: RM50 (2points x RM25 x 1contract = RM50)


The balance of my account is RM16,325 after the profit of RM50.
(The details of my account is at My Future Trading Account Records 2011 )

4 comments:

  1. I think it is a good move to exit your short position. Better safe than sorry!!! Afternoon session may confirm you made the right decision or not...

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  2. Hi,
    Yes. Thank you. The daily chart really looks stabilizing around this area.


    Abel

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  3. Too bad! Better luck next time...At least you can catch it back near the bottom on the way up?

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  4. It appeared that the down side is nothing much too.

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