Kicked Out With A Loss Of 26 Points!!

Date of entry: 29 July 2011
Short FCPO On Breaking Down
I shorted FCPO Oct 2011 Future Contract at 3081 for 2 contracts when the price broke recent low of 3083.
Anywhere, it is rebounding now.

Date of exit: Same Day
Kicked Out With A Loss Of 26 Points!!
My stop loss was hit at 3106 with a loss of 26 points for each contract (1 point added or commission). Looking at the daily chart, it is obviously at the sideway mode. It is really a 'touch and go' trade!

The Loss: RM133 (26points x RM25 x 2contracts = RM1300)

The balance of my account is RM22,525 after the loss of RM1300.
(The details of my account is at My Future Trading Account Records 2011 )

Looking at my account being hit by the losses, trade after trade, I really feel like crying. These trades really effect my mood. To be a good trader, I will have no choice but to control myself no matter what situation.

Long To Close FCPO

Date of entry: 28 July 2011
Short FCPO - Open Gap Down
I shorted FCPO Oct 2011 Future Contract for 2 contracts; one at 3108 and the other at 3098 with the average price of 3103. It opened with a gap down and broke below moving averages.

Date of exit: Same Day
Long To Close FCPO
I exited the trade at 3113 with a loss of 11 points for each contract. The formation of bullish candle seems bullish or at least a sideway market. Getting and staying sideline is the way to go.

The Loss: RM550 (11points x RM25 x 2contracts = RM550)

The balance of my account is RM23,825 after the loss of RM550.
(The details of my account is at My Future Trading Account Records 2011 )

Short To Exit Trade

Date of entry: 22 July 2011
Long FCPO For Potential Continuation Of Up Trend
I longed FCPO Oct 2011 Future Contract at 3150 (the highest price) for 2 contracts. It could be the continuation of up trend since it is still above moving averages.

Date of exit: Same Day
Short To Exit Trade
I shorted to exit trade at 3140 with a loss of 11 points including 1 point for commission each contract. The formation of shooting star with long tail (high) does not look convincing for the up trend yet. I will re enter the market if it could break higher. Busy For Losing Trade.

The Loss: RM550 (11points x RM25 x 2contracts = RM550)

The balance of my account is RM24,375 after the loss of RM550.
(The details of my account is at My Future Trading Account Records 2011 )

Final Exit FCPO At 3139

Date of entry: 19 July 2011
Long FCPO Again
I longed FCPO Oct 2011 Future Contract at 3105 for 2 contracts. It is a break up. What can I say.

Date of exit1: 21 July 2011
1st Exit - Short FCPO To Close One
I shorted to exit FCPO half of my position (1 contract) at 3149 for 42 points again.The bearish candle emerged after touching the high of 3164. It is a first warning.

Date of exit2: 21 July 2011
Final Exit FCPO At 3139
I exited the final contract at 3139 with a gain of 32 points. The bearish engulfing candlestick pattern could mean a weak market

The Profit: RM800 + RM1050 = RM1850
(32points x RM25 x 1contract = RM800)
(42points x RM25 x 1contract = RM1050)

The balance of my account is RM24,925 after the profit of RM1850.
(The details of my account is at My Future Trading Account Records 2011 )

Exited Trade At 3097

Date of entry: 18 July 2011
Reversed To Short At 3080
I reversed to short at 3080 for 2 contracts. The breaking down caused a lot of stop loss triggered. I don't have to tell you the emotional part of these two trades. It sucks.

Date of exit: 19 July 2011
Exited Trade At 3097
I longed to exit my trade this morning at 3097 with a loss of 19 points (2 points for commissions). Everything looked bullish at the open, but it turned out to be the other way round. I 'wish' I would have hold on to the trade. But 'wish' can be dangerous. I followed my trading method. This is the way trading life is.

The Loss: RM950 (19points x RM25 x 2contracts = RM950)

The balance of my account is RM23,075 after the loss of RM950.
(The details of my account is at My Future Trading Account Records 2011 )

Comment:
Trading is meant to be touch and heart breaking. I have been following my trading strategy (which I back tested). The market just behave wild sometimes. Every knows about emotion control when trading. But it is hard to do even for professional traders (they admit themselves). I have been telling myself that this is part of my trading life. But it is extremely hard to overcome.

STOP LOSS HIT

Date of entry: 18 July 2011
Long FCPO Oct Future Contract
I longed FCPO Oct 2011 Future Contract at 3137 for 2 contracts. The price is above moving averages.

Date of exit: 18 July 2011
STOP LOSS HIT
My stop loss was hit at 3103 with a loss of 35 points with 1 point as commission for each contract. Before we know it, the trade was out!

The Loss: RM1750 (35points x RM25 x 2contracts = RM1750)

The balance of my account is RM24,025 after the loss of RM1750.
(The details of my account is at My Future Trading Account Records 2011 )

Short To Take Profit

Date of entry: 13 July 2011
OK OK I Long FCPO
I longed FCPO Sept 201 Future Contract at 3068 for 2 contracts. It managed to break above moving averages. It is not really confirmed.

Date of exit: 15 July 2011
Short To Take Profit
I exited the trade after the market opened at 3119 for 49 points gain for each contract after deducting 2 points for commissions.

The Profit: RM2450 (49points x RM25 x 2contracts = RM2450)

The balance of my account is RM25,775 after the profit of RM2450.
(The details of my account is at My Future Trading Account Records 2011 )

Long To Close FCPO

Date of entry: 12 July 2011
Shorted After Market Just Open At 3047
I shorted FCPO Sept 2011 Future Contract right after the market opened but not the best price at 3047 for 2 contracts. It broke below moving averages.

Date of exit: Same Day
Long To Close FCPO
I longed to close the position at 3042 for a little gain of 4 points for each contract.

The Profit: RM200 (4points x RM25 x 2contracts = RM200)

The balance of my account is RM23,325 after the profit of RM200.
(The details of my account is at My Future Trading Account Records 2011 )

Exited Trade With Loss

Date of entry: July 2011
Long FCPO - Potential Continuation Of Up Trend
I Longed FCPO Sept 2011 Future Contract at for 2 contracts. It could be a continuation of up trend since the break up of moving averages.

Date of exit: Same Day
Exited Trade With Loss
I exited my trade at 3071 with a loss of 30 points.
Wow! My loss is double i.e. RM750 x 2 contracts = RM1500.

The balance of my account is RM23,125 after the loss of RM1500.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Loss Hit

Date of entry: 8 July 2011
Long FCPO On Opening Bell
I longed FCPO Sept 2011 Future Contract at 3100 on opening bell. It is a break up I have been waiting for. Looking at the current price of 3090, the market is not strong enough.

Date of exit: Same Day
Stop Loss Hit
My stop loss was hit at 3081 with a loss of 20 points (1 point for commission). This could mean that the current upside is not strong enough.

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

The balance of my account is RM24,625 after the loss of RM500.
(The details of my account is at My Future Trading Account Records 2011 )

FCPO Long To Take Profit

Date of entry: 30 June 2011
Short FCPO - Broken Down
I shorted FCPO Sept 2011 Future Contract at 3106 for 1 contract. It touched moving averages and failed to break above. With bearish daily trend, there is chance for the down side.

Date of exit: 1 July 2011
FCPO Long To Take Profit
I longed to take profit at 3034 for 70 points gain after deducting 2 points for commissions. Confirming the profit is the only reason I close the trade before the weekend.

The Profit: RM1750 (70points x RM25 x 1contract = RM1750)

The balance of my account is RM25,125 after the profit of RM1750.
(The details of my account is at My Future Trading Account Records 2011 )