FCPO Breakout - Potential Move Higher After Tracement

FCPO 30 Minutes Candle Stick Chart

FCPO Dec Contract Gap up at the open this morning indicating the potential bullish momentum ahead.
Suggestion : We could wait for the retracement to enter long position; 50% or 61.8% Fibonacci Retracement will be a good price to long.And of course, the Stop Loss must be place at the most recent low or your choice of the low.
GOOD LUCK!

Reason For Lack of Posts Recently...

To all my loyal visitors, you may have noticed that I have not been blogging for a while in recent months. This is due to health issues, and I have been resting since and have been putting off posting on here for the time being.

Thank you for understanding.

Exited Trade To Confirm Profit

Date of exit : 10 Feb 2014
Title : Exited Trade To Confirm Profit
I exited the trade to take profit at 2599 with 40 points gain. It might continue the surge. I guess it is enough for me for now.

Date of entry : 6 Feb 2014
Title : Long CPO At the Open
I initiated long CPO April 2014 Future Contract at 2557 for 1 contract at the open. MACD is moving upwards. There is a potential for the rebound.

Exited For Profit

Date of exit : 23 Jan 2014
Title : Exited For Profit
I exited my trade at 2595 with a gain of only 26 points for my first trade of the year. The price might continue surge, 26 points is good for me for now.

The Profit : RM 650 (26points x RM25 x 1contract = RM 650) 

The balance is now RM 26,850 (RM 26,200 + RM 650 = RM 26,850)

Date of entry : 20 Jan 2014
Title : Longed CPO At The Open This Morning
I initiated long position at the open when the price opened with gap at 2567 with 1 contract.

My FCPO 2013 Performance - FLAT!

FCPO Trading 2013 : 
My opening balance for FCPO was RM 26,175 in 2013. After a long and stressful trades for the whole year, my account managed to break even at RM 26,200 (slightly positive by RM 25!). I actual made up to RM 32,875 and for some reasons, the trades went south making me string and string of losses all the way to the low balance of RM 21,875.

The few bad trades enough to kill all my 'should have' profit of the year. In trading, anything can happen. When experiencing big win, we should BECOME very CAUTIOUS to preserve our profit. This is the lesson I learn from 2013 FCPO Trades. 

FKLI Trading 2013 : 

I have been quiet in FKLI trading with the reason that FKLI has no pattern. A pure chartist would find it hard to trade. I only managed have only trades for the whole year. Well, at least it is positive. I am happy actually. 

My initial balance at the beginning of 2013 was RM 13,675 and I managed to a little profit of RM 4,150 to RM 17,825; a positive performance of 30.35%. 

Short To Realize Profit

Date of exit : 30 Dec 2013

Title : Short To Realize Profit

I exited the trade at 2648 with a profit of 60 points this morning when the market open. The surge of the price seems not strong and it has been 10 days since I initiated the trade. 

The Profit : RM 1500 (60 points x RM25 x 1contract = RM 1500)

The balance is now RM 26,200 (RM 24,700 + RM 1500 = RM 26,200)

(The details of my account is at My Future Trading Account Records 2013 )

Date of entry : 20 Dec 2013
Title : Long CPO 
I initiated long position for CPO March 2013 Future Contract at 2586 for 1 contract.

Closed Position For The Weekend

Date of exit : 29 Nov 2013
Title : Closed Position For The Weekend
I closed my long position at 2662 with little gain of 3 points. 

The Profit : RM75 (3points x RM25 x 1contract = RM75) 

The balance is now RM 24,700 (RM 24,625 + RM 75 = RM 24,700)

(The details of my account is at My Future Trading Account Records 2013 )

Date of entry : 28 Nov 2013
Title : Initiated Long Position
I initiated long position at 2657 for 1 contract. The uptrend could continue. 

Exited Trade For 40 Points Profit

Date of exit : 22 Nov 2013

Title : Exited Trade For 40 Points Profit

I shorted CPO to lock my profit at 2648 for 40 points gain. It 'should have been' more :)

The market behaved volatile couple with weekend ahead. Confirming the trade seemed to be a good bate. 

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

The balance is now RM 24,625 (RM 23,625 + RM 1000 = RM 24,625)

(The details of my account is at My Future Trading Account Records 2013 )

Date of entry : 21 Nov 2013
Title : Long CPO At The Open
I initiated long position of CPO Feb 2014 for 1 contract at the open at 2606. ( I placed buy order at 2610 before the market open and I was filled at 2606 ).

Exited Trade For 10 Points Profit Only

Date of exit : 20 Nov 2013
Title : Exited Trade For 10 Points Profit Only
I longed to close my trade at 2558 for little profit of 10 points only. 

The Profit : RM250 (10points x RM25 1contract = RM250) 

The balance is now RM 23,625 (RM 23,375 + RM 250 = RM 23,625)

(The details of my account is at My Future Trading Account Records 2013 )

Date of entry : 19 Nov 2013
Title : Shorted CPO Feb 2014 Contract
I initiated a short position of Feb 2014 Future Contract at 2570 for 1 contract. The downside might not be strong. Let see.

Exited Trade To Confirm Profit

Date of exit : 15 Nov 2013
Title : Exited Trade To Confirm Profit
I shorted the position to confirm profit at 2613 with 60 points profit (2 points for commission) 3 minutes before market closed. It is the last day of the active month for CPO Jan 2014 and also tomorrow is a weekend. 

The Profit : RM1500 (60points x RM25 x 1contract = RM1500) 

The balance is now RM 23,375 (RM 21,875 + RM 1500 = RM 23,375)

(The details of my account is at My Future Trading Account Records 2013 )

Date of entry : 12 Nov 2013
Title : Reversed Position To Long CPO
I reversed my position again to long CPO Jan 2014 Future Contract at 2551 for 1 contract.

Stop Loss Hit

Date of exit : 12 Nov 2014
Title : Stop Loss Hit
My position was stopped out at 2551 with a loss of 27 points (2 points added for commission). 

The Loss : RM675 (27points x RM25 x 1contract = RM675) 

The balance is now RM 21,875 (RM 22,550 - RM 675 = RM 21,875)

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

Date of entry : 11 Nov 2013
Title : Also Reversed To Short CPO
I placed reversed short order earlier and I was also filled at 2526. I am not sure the next direction of the price. I am just following my trading method and it is hard to accept at times.

What! I Am Stopped Out

Date of exit : Same Day
Title : What! I Am Stopped Out
I could not believe my eye. My long position was stopped out at 2526 with a loss of 24 points (1 point for commission) towards the last 5 minutes of the trade. Placing Stop Loss is a MUST in trading despite  wild swing could occur. What to do! 

The Los : RM600 (24points x RM25 x 1contract = RM600) 

The balance is now RM 22,550 (RM 23,150 - RM 600 = RM 22,550)

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

Date of entry : 11 Nov 2013
Title : Long CPO 
I initiated long position for CPO Jan 2014 Future Contract at 2549 for 1 contract; potential rebound.

Locked Small Profit

Date of exit : 7 Oct 2013

Title : Locked Small Profit

I longed to close my position with little profit of 17 points with 2 points for commission. I know it is a small but I guess it is a good start. CPO price seems resilient.

Profit : RM425 (17 points x  RM25 x 1contract = RM425)

The balance is now RM 23,150 (RM 22,725 + RM 425 = RM 23,150)

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

Date of entry : 6 Oct 203

Title : Short CPO

I shorted CPO Jan 2014 Future Contract at 2561 for one contract. It seemed like long time ago since my last trade. I am trying to get back on my feet after experiencing one of my worse day. Wish Me Luck! :) 

Potential Correction - CPO

CPO has been up remarkably to the high of 2485. However there are two reasons that CPO might correct in the next few sessions;
1. The price reached the high of 2485 which was also registered in 28 Aug 2013.
2. MACD of hourly chart has been flat despite the surging of the price.

Soy Bean Oil Hourly Chart Might Be Weak

Soy Bean Oil Futures has been moving up slowly. Despite the daily chart looking strong, the hourly chart seems weak based on the divergent between the price and MACD. The weakness of Bean Oil Futures could give us an opportunity to short CPO.

Gold Futures 101

Simple Facts we should know about Futures Gold Trading :

Code Name: FGLD 

Trading Time : 

Morning Session 9:00 to 12:30

Afternoon Session 14:30 to 19:00

Deposit For Each Contract : RM 1,000 

( We should place more than RM 1,000 as we have to top up if our position go under. I would use RM 2,000 or RM 3,000 for each contract to buffer the volatility ) 

Contract Size For Each Contract : 100g 

Contract Value : RM 13,500 as at 18 Oct 2013 

( RM 135 x 100g = RM 13,500) 

Movement Per Tick : RM 0.05 

( RM135.00, RM135.05 , RM135.10 , RM 135.15 , RM135.20 and so on ) 

The Value Per Tick : RM 5 

( RM 0.05 x 100g = RM 5 ) 

Commission (Online) : RM 13 per trade ; buy or sell 

( Meaning that to complete a buy and sell trade, we will be charged RM 26 and so we need 6 ticks to break even for every trade ; 6 ticks x RM 5 = RM 30. For example, long at RM 135, we would need RM 135.30 to be break even and any price beyond RM 135.30 will then be our profit and vise-versa ) 

Active Month : 3rd Month 

( For our current Oct 2013, we are trading Dec 2013 Futures Gold Conract ) 

Contract Expiry : End of month 

Settle Price : Based on London Gold Fix the morning price ( AM Price ) 

CPO Daily Potential Correction

CPO has been performing well since the beginning of Oct 2013. However, with the 'hangman' candle stick pattern emerged, there is a high probability for the price to correct or at least a sideways ahead.

Intraday trading has been tough lately. Just look what has happened today, it opened with a beautiful gap up of 2422 then the price plunged all the way to the low of 2369 then closed at 2400. I did not take the long trade due to this reason :) 

' When I See It, I Take It ' should be the trading way for now. No more 'let the profit run' way of trading. 

CPO Weekly Might Be Strong

It is important to see the big picture once in a while. CPO weekly has been descending (the high is getting lower), however, looking at Weekly MACD, it shows otherwise. There is a divergent between the price and MACD indicating that CPO might be Bullish. 

Realize Loss At 2288

Date of exit : 3 Oct 2013

Title : Realize Loss At 2288 

I exited the trade to realize the loss at 2288 with a loss again of 29 points. I am not sure what the direction will be. Just call it a day and see how. 

The Loss : RM 725 (29points x RM25 x 1contract = RM725)  

The balance is now RM 22,725 (RM 23,450 - RM 725 = RM 22,725)

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

Date of entry : 30 Sept 2013

Title : Long One Contract

I initiated long CPO Dec 2013 Future Contract at 2315 for 1 contract. Usual break up. 

Took Lost The Final Contract

Date of exit 2: 26 Sept 2013
Title : Took Lost The Final Contract
I finally realized the lost at 2273 with a loss of 51 points. The Loss RM1,275. 

Date of exit 1 : 25 Sept 2013
Title : Closed One Contract
I closed 1 contract with a loss of 24 points. CPO price is heading for unknown now. The Loss RM600. 

The Loss : RM1,875 (RM1275 + RM600 = RM1,875) 

The balance is now RM 23,450 (RM 25,325 - RM 1875 = RM 23,450)

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

Date of entry : 24 Sept 2013
Title : Long CPO At Open
I longed CPO Dec 2013 Future Contract at 2322 at the open for 2 contracts. I actually lost confident during the last few losing trades.