Thursday, October 25, 2012

100 Profit Points Reached

Date of exit : 25 Oct 2012
Title : 100 Profit Points Reached
I exited on my 100 target points at 2599.
My reason:
1) My usual 100 profit target is reached
2) Friday is a public holiday for Malaysia. The risk increases when many global markets still open on Friday
3) CPO has been up for many days.

The Profit : RM2500 (100points x RM25 x 1contract = RM2500)

My balance is now RM28,700 (RM26,200 + RM2500 = RM28,700)
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 18 Oct 2012
Title : Reversed To Long CPO Jan 2013 Contract
I reversed my position to long CPO Jan 2013 Future Contract at 2497 for one contract.
This is not my usual decision making which is based on bullish candle.

Thursday, October 18, 2012

Exited Short Position Finally

Date of exit : 18 Oct 2012
Title : Exited Short Position Finally
I placed my stop loss near and I was kicked out at 2497 at the loss of 39 with 2 points commission included. It has been a 'waiting' trade.

The Loss : RM975 (39points x RM25 x 1contract = RM975)

My balance is now RM26,200 (RM27,175 - RM975 = RM26,200)
(The details of my account is at My Future Trading Account Records 2012 )
Day 3 : 17 Oct 2012
Title : Sideways But Potential Rebound
The price has been ranging since I bought on 15 Oct 2012. It looks like there is high chance that the market will rebound. I was once wanted to get out but then there was no signal of exiting so I have to hold on to the short side despite I 'think' the market is going to rebound very soon.
Date of entry : 15 Oct 2012
Title : Short CPO Jan 2013 Contract
I initiated short position for CPO Jan 2013 Future Contract at 2460 for one contract. The last week bad feeling still remind in my mind. Time is the best healer.

Friday, October 12, 2012

Exited Trade At Breakeven

Date of exit : 12 Oct 2012
Title : Exited Trade At Breakeven
I exited my trade at breakeven point of 2405. It is heart breaking to see my profit down to the drain. Actually, I should not have exited. But I was nervous.

My Mistake:
1. I did not take my 100 points target. I was affected by my previous trade of closiing too early. I SHOULD STICK TO MY 100 TARGET POINTS NO MATTER WHAT.
2. There was no sell signal as long as my trading method is concerned. I was nervous and I acted (exited) emotionally. I SHOULD ALWAYS STICK TO MY TRADING SYSTEM; STOP LOSS PLACING IN THIS CASE.
3. When I realized I was wrong, I SHOULD HAVE REENTERED THE MARKET

One thing, Once I was wrong of not doing the above. At least I did not go in at all. This is one thing I achieve. Trading is not as easy as it looks. Mastering of all these; missing trades, slip page, emotion etc are the path to become a good trader. Wow! What a day!

Date of entry : 5 Oct 2012
Title : Long CPO Dec 2012
I initiate long position for CPO Dec 2012 for 1 contract at 2403. There is high chance for the rebound.

Tuesday, October 2, 2012

CPO Back To 2010

CPO Dec 2012 Future Contract plunged 209 points and closed at 2255. CPO price is now back to 2010 level. In trading, we just have to expect the unexpected.
I missed the trade all the way and it turned out to be the most important trade of the year that I should not miss. I was looking for rebound all this time "thinking" that the price "sure" will rebound but it never did.
The Trend Is Your Friend, Just Follow The Trend. Never Try To Out Smart The Market