Date of entry: 12 May 2011 Short FCPO On Breaking Moving Average I shorted FCPO July 2011 Future Contract at 3225 for 1 contract. It broke below the moving average low. My short action was done at around 4:45pm, blogspot.com was experiencing some problem not able to post my blog.
Reason To Short 1.The price broke below moving average low (blue line) of 2 hourly chart
Reason To Short 2.The price is still below moving averages of daily chart
Reason To Short 3.Bearish engulfing candle stick bar was formed on the last bar of the day; A confirmation.
Date of exit: 13 May 2011
Late Report - Long To Exit Short Position
I longed to exit my position at 3271 on afternoon opening bell. The market rebounded strongly. I have to cut my loss. This trade cost me 48 points with 2 points commission included.
The Loss: RM1,200 (48points x RM25 x 1contract = RM1,200) The balance of my account is RM21,625 after the loss of RM1,200.
(The details of my account is at
My Future Trading Account Records 2011 )
Note: Blogspot was not able to update on Friday. The server was having some technical difficulty and on Saturday my post was missing.