Thursday, March 10, 2011

CPO - Long To Lock Profit

Date of entry: 8 March 2011
Short FCPO - Potential Breaking Down
I shorted FCPO May 2011 future contract at 3571 for 1 contract. It broke down the recent low of moving average (green line) of 3585.
It turned out I shorted at the lowest of the day.

Reason To Short:The daily chart of FCPO is still below the moving averages

The Concern: The price still maintains between the moving averages.

Date of entry: 10 March 2011
CPO - Long To Lock Profit
I longed to close the position at 3463 with a gain of 106 points after deducting 2 points for commissions. The dogi candle stick pattern with long tail for the high and the low indicating that the current plunge could be resting.

The Profit: RM2,650 (106points x RM25 x 1contract = RM2,650)

The balance of my account is RM21,075 after the profit of RM2,650.
(The details of my account is at My Future Trading Account Records 2011 )