Tuesday, January 25, 2011

Long To Close FKLI - Index Did Not Drop Lower

Date of entry: 25 Jan 2011
Short FKLI On Bouncing Back From The Low
I shorted FKLI Jan 2011 future contract after it touched the low of 1535.5 and bounced back to 1538 for 3 contracts. Looking at the chart pattern, a kind of hammer making me uneasy right now. Further more, FKLI is at around the support line (moving average low).

Date of exit: Same Day
Long To Close FKLI - Index Did Not Drop Lower
I longed to close the short position with 1 point loss as commission for each contract. The index did not drop further after forming the hammer on the previous bar indicating that the selling down pressure is not strong enough.
I will reenter the market if the index could continue the downside in the afternoon session.

The Loss: RM150 (1points x RM50 x 3contracts = RM150)

The balance of my account is RM17,975 after the loss of RM150.
(The details of my account is at My Future Trading Account Records 2011 )

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