Friday, August 31, 2012

Bullish Harami = Potential Rebound

CPO Oct 2012 Future Contract closed at 3019 and formed a bullish harami candlestick pattern (based on daily chart) indicating that there is high chance the market would rebound. Do not forget, the daily chart for both CPO and Bean Oil Futures are at the uptrend.

Note : Harami means that the high and the low of the bar are inside the high and the low of the previous candle bar.

Wednesday, August 29, 2012

50 Points Profit Locked


Date of exit : 29 Aug 2012
Title : 50 Points Profit Locked
I exited the trade by buying at 3011 for 50 points gain. The daily chart is still showing up trend which means the potential the bound is high.

The Profit : RM1250 (50 points x RM 25 x 1 contract = RM1250)
My balance is now RM25350
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 28 Aug 2012
Title : Shorted CPO Nov 2012
I placed short position of CPO Nov 2012 Future Contract at 3063 for one contract.
Bare in mind, the market is still bullish based on daily chart and also Bean Oil Future.

Saturday, August 25, 2012

Bean Oil Future Could Rest

Bean Oil Sept 2012 Future Contract closed at $56.28 on Friday (24 Aug 2012). With two dogi emerged for the last 2 days, there is high chance that the market could consolidation.

Thursday, August 23, 2012

Potential Consolidation

CPO Nov 2012 Future Contract closed remarkably at 3078 with 116 points up which was rare. I closed my position thinking that there is high chance CPO futures will consolidation from now given that there were two consolidation early in June and July (please refer to the chart).

Wednesday, August 22, 2012

Exit To Confirm Profit

Date of exit : 22 Aug 2012
Tittle : Exit To Confirm Profit
I shorted to exit the trade at 3057 with 170 points gain (2 points for commission). Sometimes, confirming profit is the way to go specially 170-point-profit seldom occurred.
The Profit : RM4250 (170 points x RM25 x 1 contract = RM4250)


My balance is now RM24100
(The details of my account is at My Future Trading Account Records 2012 )



Date of entry : 16 Aug 2012 
Tittle : Long CPO For Potential Rebound
I longed at the open CPO Nov 2012 Future Contract at 2885 for 1 contract. There is higher chance that CPO would rebound at least in the next few bars. 

Wednesday, August 15, 2012

CPO Daily Chart - Three Tail In A Row

CPO Oct 2012 Future Contract closed at 2858 with the 3rd long tail emerged in the daily chart (refer to chart) indicating that the rebound could be now at least in the next few trading day.

Tuesday, August 14, 2012

Exited On Long Waited Trade


Date of exit : 14 Aug 2012
Title : Exited On Long Waited Trade
I finally longed to exit the long waited trade (12 days; the longest holding for this year) at 2843 with 60 points again. My initial target as you would know was 100 points but CPO price seemed reluctant to go down further and it has been holding very well with few attempt failing to continue the downwards. More over, Bean oil future is bullish. I may be wrong in taking profit too early, but sometimes, confirming the profit is the best thing to do particularly on the long over due trend.

The Profit : RM1500 (60 points x RM 25 x 1 contract = RM 1500)

My balance is now RM19850.
(The details of my account is at My Future Trading Account Records 2012 )


Date of entry : 2 Aug 2012
Tittle : Ops - Reversed To Short At The Lowest
I placed earlier the sell order together with the previous trade (stop loss) and I was filled at 2905 which turned out to be the low of the day. I have nothing to say. I just have to stay with it. Anyway, the price is now below moving averages.

Thursday, August 2, 2012

Shorted To Close At The Lowest


Date of exit : 2 Aug 2012
Tittle : Shorted To Close At The Lowest
I shorted to close at 2905 which turned out to be the low of the day. It bounded strongly right after I closed my position. I loss 66 points.

The Loss : RM1650 (66 points x RM25 x 1 contract = RM1650)


My balance is now RM18350.
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 30 July 2012
Tittle : Long At The Open
I longed CPO Oct 2012 Future Contract at the open for one contract (2969). CPO has been down and there is high probability that the price would rebound. I wanted to long at the opening price, but it moved so fast that by the time I managed take the position, the price rocketed to 2969.