Thursday, February 23, 2012

Long To Close At 3268

Date of entry: 22 Feb 2012
Short May CPO For Potential Correction
I shorted CPO May 2012 Future Contract at 3254 for one contract. The market has been up, there is high chance that it will correct.

Date of exit: 23 Feb 2012
Long To Close At 3268
I longed to close my position at 3268 with a loss of 16 points with 2 points as commissions. The price opened with a gap and recovered strongly. I have no choice but to close the position and wait for the next move. This is trading, morning everything seems so bright and the market reversed to black in the afternoon.

The Loss: RM400 (16points x RM25 x 1contract = RM400)

Thursday, February 16, 2012

Exit Trade At The Open

Date of entry: 10 Feb 2012
Long CPO For Continuation Of Trend
I longed FCPO April Future Contract at 3138 for one contract. There is potential of the continuation of up trend.

Date of exit: 16 Feb 2012
Exit Trade At The Open
I shorted to exit the trade at 3170 on opening bell with a little gain of 30 points (2 points for commission). Wow! I hold it for 4 days! I usually hold it not more than 3 days based on hour chart.

The Profit: RM750 (30points x RM25 x 1contract = RM750

Wednesday, February 8, 2012

Hard Broken To See Profit Run Away!

Man! CPO opened with a gap at 3110 and continued the surge to the high of 3153. I did not take any position on Friday thinking that long weekend with two long holidays ahead. But the market just does what it wants.
My usual method will be entering the long in the morning on opening bell, but I was afraid and 'hoping' that it would not go that high. I was miserably WRONG.

We Have To Trust Our Preset System; Lesson Of The Day