Friday, June 24, 2011

Close To Take Profit For 20 Points Gain


Date of entry: 23 June 2011
Reenter Short FCPO Short Position
I reenter the short position of FCPO Sept 2011 Future Contract at 3136 for 1 contract. It broke below earlier low of 3140. Some how, it is hard to act on this trade initially. Human being I guess.

Date of exit: 24 June 2011
Close To Take Profit For 20 Points Gain
I longed to close my position at 3114 for 20 points gain after 2 points deducted for commission. 5 Bearish Candle Sticks emerged in a row could be an oversold situation with weekend ahead. I am just not willing to risk further my profit.

The Profit: RM500 (20points x RM25 x 1contract = RM500)

The balance of my account is RM23,500 after the profit of RM500.
(The details of my account is at My Future Trading Account Records 2011 )
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11 comments:

  1. PJune 23, 2011 at 11:41 PM

    Well, it looks like you made the right choice! :)

    ReplyDelete
  2. AbelJune 23, 2011 at 11:53 PM

    Thanks P

    ReplyDelete
  3. AnonymousJune 24, 2011 at 1:06 AM

    Abel Abel ,me(wilson),ofcos is right(if hold it until it drop),bcos outside still have bad news until to next week,if cpo market tomorrow up ,b plus short more.

    ReplyDelete
  4. AnonymousJune 24, 2011 at 10:50 AM

    Abel Abel ,me(wilson),i waiting the price drop at 3103-3108 to long

    ReplyDelete
  5. AnonymousJune 24, 2011 at 4:36 PM

    Soya oil is holding very well after a strong rebound..

    Najib

    ReplyDelete
  6. AbelJune 24, 2011 at 4:52 PM

    Hi Wilson,
    I think you are right.

    Hi Najib,
    I exited the trade. The market looks oversold too.


    Abel

    ReplyDelete
  7. AnonymousJune 27, 2011 at 11:34 AM

    Abel Abel ,me(wilson),now i parking at oct 3083x3 long,now i still thinking what point to stop loss,d u have any idel?

    ReplyDelete
  8. AnonymousJune 27, 2011 at 12:34 PM

    abel ,me(wilson)i long 2 more at oct 3092x2 done.any comment for me?

    ReplyDelete
  9. AbelJune 27, 2011 at 4:26 PM

    Hi Wilson,

    I was busy this morning, are you still holding the long? It looks like rebounding.


    Abel

    ReplyDelete
  10. AnonymousJune 28, 2011 at 12:06 AM

    abel,i(wilson)still hold oct 3092x2,the parking only 1/2 day dint done it,the market last 1 minutes from 3078 rebound to 3040,world still have bad news,williams%R chart is oversold,which one want to trus?tomorrow 3000 is final blok,still thinking want to plus 2more long at 3002-3007 or not,almost drop 460 already,abel d u have any comment?

    ReplyDelete
  11. AbelJune 28, 2011 at 12:04 PM

    Hi Wilson,

    I am looking to long based on candle stick pattern. I totally agree with you that the market is way oversold. As long as it did not give me what I want, I would wait.


    Abel

    ReplyDelete

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