Thursday, December 20, 2012

Long CPO March 2013 Contract

Date of exit : 20 Dec 2012
Title : Took The Huge Loss
I shorted to exit my long position at 2303 with a huge loss of 71 points. This is a hard trade with a changing month. Changing month is usually a tough one. What to do.

The Loss : RM3550 (71points x RM25 x 2contracts = RM3550)

My balance is now RM30,075 (RM33,625 - RM3550 = RM30,075)
(The details of my account is at My Future Trading Account Records 2012 )

My Comment : The price had been against my position the moment I started this trade and I was "suffering" since then too. I hold the position "thinking" that MACD was heading higher indicating the bullishness of the momentum. But I was wrong and I had no choice but to exit the trade. This is trading.

Date of entry : 17 Dec 2012
Title : Long CPO March 2013 Contract
I longed CPO March 2013 Future Contract at the open at the price of 2372 for two contract. Opening with a gap shows a bullishness of the market.
Honestly, it is kind of hard to act upon when seeing a gap open. This is part of trading, do what I got to do.

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