Saturday, June 29, 2013

CPO Daily Potential Rebound

There is high chance for CPO (Daily) to rebound given that 1. The price hit 38.2% Fibonacci level 2. The price touched 60 days moving average low. 
Week to week, the CPO price stays well between the range. 

Wednesday, June 26, 2013

Profit Locked At 2383


Date of exit : 26 June 2013
Title : Profit Locked At 2383
I placed profit target earlier at 2383 and was finally triggered before the market closed. It has been a 'slow' trade with 'less meat'. Anyway, profit is profit while it last. 

The Profit : RM1000 (40points x RM25 x 1contract = RM1000) 

The balance is now RM 26,425 (RM 25,425 + RM 1000 = RM 26,425)
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 21 June 2013
Title : Reversed Short CPO Aug 2013
I reversed to short CPO Aug 2013 Future Contract at 2425 for 1 contract unwillingly. This trade should have been done much earlier. But I was 'hopping' the price to rebound. Hopping is the worse enemy and it cost me extra 13 points. 

Saturday, June 22, 2013

CPO Daily Potential Correction - Weekly In Sideways

Daily Chart Watch : 
It looks like the price of CPO (Aug 2013) is holding well above the up trend line (blue line) and closed at 2438. Technically speaking, the resistant of 2505 is rather strong for now. Unless it can break above the high, CPO still has high chance fro correction. 
Weekly Chart Watch : 
CPO has been in consolidation for more than 37 weeks. This is quite unusual. The market always does what it pleases. We just have to watch and wait patiently. 


Friday, June 21, 2013

Cut Loss At Lower Price - Tried Too Out Smart!

Date of exit : 21 June 2013
Title : Cut Loss At Lower Price - Tried Too Out Smart! 
I finally cut my loss at 2425 with a loss of 36 points (2 points added for commission). I know I should have done it at the opening price 2438 but I was trying out smart the market. This is the price I am paying.

The Loss : RM900 (36points x RM25 xx 1contract = RM900) 

The balance is now RM 25,425 (RM 26,325 - RM 900 = RM 25,425)
(The details of my account is at My Future Trading Account Records 2012 )


Date of entry : 17 June 2013
Title : Entered New Long Position
I reversed my position and long Sept 2013 Future Contract at 2459 for 1 contract. 

Monday, June 17, 2013

Closed Position

Date of exit : 17 June 2013
Title : Close Position
My position was stopped out at 2462 with a loss of 24 points (2 points for commission).

The Loss : RM 600 (24points x RM25 x 1contract = RM 600) 

The balance is now RM 26,325 (RM 26,925 - RM 600 = RM 26,325)

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

Date of entry : 13 June 2013
Title : Shorted CPO
I reversed to short CPO Aug 2013 Future Contract at 2440 with one contract. It is a sell down that I 'hope' it will not happen but the market always does as she pleases.

Thursday, June 13, 2013

Stop Hit At 2440


Date of exit : 13 June 2013
Title : Stop Hit At 2440
My long position was stopped out at 2440 with a gain of 42 points with 2 points deducted for commission. 

The Profit : RM 1050 (42points x RM25 x 1contract = RM 1050) 

The balance is now RM 26,925 (RM 25,875 + RM 1050 = RM 26,925)
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 5 June 2013
Title : Long CPO
I longed CPO Aug 2013 Future contract now for 1 contract. I have no more mood to describe my feeling. You would know. I was even thinking to quite blogging at one point.

Saturday, June 8, 2013

CPO Daily Remains Bullish With Potential Minor Correction


CPO could head higher as it breaks the recent high based on daily chart and of course there will minor correction along the line.

Week to Week, CPO has up consecutively for 5 weeks. This could mean a minor correction is unavoidable. We just have to be ready.

Wednesday, June 5, 2013

Stopped Out - Loss Deal Again


Date of exit : 5 June 2013
Title : Stopped Out - Loss Deal Again 
My position was stopped out again at 2396 with a loss of 28 points (2 points added for commission). I don't have to tell you how bad I feel.

The Loss : RM700 (28points x RM25 x 1contract = RM700) 

The balance is now RM 25,875 (RM 26,575 -  RM 700 = RM 25,875)
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 4 June 2013
Title : If You Dare - Reversed To Short
I reversed to short CPO Aug 2013 Future Contract for 1 contract right after my position was stopped out. This is a very very tough call specially just experiencing consecutive losses, trust me.

I was thinking not to pull the trigger but I was afraid of missing the real action which might come without warning. A trend trader always faces this kind of situation being stopped out all the time. This is the business of mental torturing. Traders get paid to suffer mentally.

Tuesday, June 4, 2013

Cut Loss Again

Title : Cut Loss Again 
My long position was stopped out at 2370 with a loss of 37 points with 2 points for commission. 2370 turned out to be the low of the day. Couple with the consecutively loss, I am feeling like shit. Sideways really kills. 

The Loss : RM925 (37points x RM25 x 1contract = RM925) 

The balance is now RM 26,575 (RM 27,500 -  RM 925 = RM 26,575)

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


Date of entry : 3 June 2013
Title : Reversed To Long CPO
I reversed my position to long CPO Aug 2013 Future Contract at 2405 too for 1 contract. This is a very tough thing to do despite I have been doing it ; reversing position. But 'Tough To Do' is part of my trading. I just have to deal with it.

Monday, June 3, 2013

Short Aug 2013 CPO Future Contract

Date of exit : 3 June 2013
Title : Long To Cut Loss At 2405 
I exited my trade at 2405 to cut my loss with a loss of 32 points. What a day! 

The Loss : RM800 (32points x RM25 x 1contract - RM800) 

The balance is now RM 27,500 (RM 28,300 -  RM 800 = RM 27,500)
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 30 May 2013
Title : Short Aug 2013 CPO Future Contract 
I shorted CPO Aug 2013 Future Contract at 2375 for 1 contract. The price has been up for many days. There is high chance for correction.
This is not my usual method of break out method. I just took the advantage of overbought situation. I have to bare in mind that the trend is still up.