Sunday, May 15, 2011

Late Report - Long To Exit Short Position

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, 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.


  1. Dear ta loser, my sifu samgoss shames u again in his blog >

    From: Lee Hong ???? h??
    Date: Sat, May 14, 2011 at 7:04 AM
    Subject: TA vs FA
    To: ""
    Cc: "h??"

    Hello Uncle Sam,

    I read your blog and subscribed to your samgang blog yesterday.......feel like 相见恨晚。。。

    I have been trading (i feel like gambling) local FKLI and FCPO futures for 2 years relying on TA, no need to say, 输到趴再地上不能动。。。similar on my venture in Forex.....account almost die.......I can say I have gone through all technical indicators, candle stick, even learned to create automated trading systems for my forex trading.....blindly rely on my so called "holy grail" system already brought me to 荷兰many many times.......

    Talking about Failure in TA, 我是人版。。。

    At the moment I am very disappointed in my trading journey, especially don't trust technical trading anymore, one of my trading sifu recommended me have a look at your blog........he said you explain very well why TA not working......that's how I found your blog......这是一个人生中很重要的际遇。。。。

    多谢你的字字诸机。。。多谢你的直言。。。多谢你唤醒我不要再以 TA 为理由在赌博。。。投资才是最可靠。。。


    I gonna empty my cup and learn in humble manner from you.........

    Sam Lee


    2 Sam Lee ,

    First of all , may I know who is d trading sifu that introduced u 2 my blog ? jgn jgn it is mike loser lee or alex lu worrr ? ha ha

    Well, never too late 2 know ta is never works , I am not d only one whose critics ta , d great warren buffet oso said d same >

    It is not too late 2 start all over again ^_- , in order 4 u 2 know better d beauty of FA, click this >

    n oso , see d attached portfolio , although d mkt is not doing well lately but my current portfolio is still making RM52,340.29 ^_-...not bad yah ???

    Can tak ada akal method achieve this ?

    This is d beauty of FA , I dont know when it will come but I know she will bring me $$$$one day ^_- do u like this beauty ? ^_-

  2. Rubbish, how come one can boast oneself like that ??