Thursday, April 28, 2011

Exit On The Opening Bell With Loss


Date of entry: 27 April 2011
Changed To Short FCPO
I changed to short FCPO July 2011 Future Contract at 3280. It is the low of today so far.

Date of exit: 28 April 2011
Exit On The Opening Bell With Loss
I exited to close the trade on opening bell at 3306 with a loss of 28 points (26+2=28points). Side way market really can kill!

The Loss: RM700 (28points x RM25 x 1contract = RM700)

The balance of my account is RM22,700 after the loss of RM700.
(The details of my account is at My Future Trading Account Records 2011 )
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5 comments:

  1. AnonymousApril 28, 2011 at 4:26 AM

    brader, you got guts man, to pull it thru ..salute.. regards lengchai6

    ReplyDelete
  2. AbelApril 28, 2011 at 1:58 PM

    Hi LengChai6,

    Long time no chat! I exited again with a loss this morning. Both FKLI and FCPO are untradeable specially for trend traders. Based on the break out to trade, die hard!


    Thanks

    Abel

    ReplyDelete
  3. HandSome168April 28, 2011 at 3:45 PM

    Bro, in a sideway market, we used to encounter such scenario, this is just part of the game. Anyway, is good that you can follow your trading plan with DISIPLINE, Good Luck!

    ReplyDelete
  4. AnonymousApril 29, 2011 at 4:55 AM

    hi Abel, yea man, had been tied up quite a bit... have u tried back testing 6 days Simple MA with 3 pts stop for FKLI... i wish i had that capability in chart or quantitative method to measure it... no time + no historical data :( ... vs. your 24 days... side mkt, some say use std dev. to trade... having say that, who can tell when mkt start treading sideways...like in cantonese, if we all know, there won't be beggars...:) take care... lengchai6

    ReplyDelete
  5. AbelApril 29, 2011 at 5:05 PM

    Thanks HandSome168.


    Hi LengChai6,

    Thank you for your suggestion. I will do the back testing and see if it works.


    Happy Labor Day,

    Abel

    ReplyDelete

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