Short FKLI At The Open

Date of entry: 19 July 2010
Short FKLI At The Open
I shorted FKLI at 1333 with 2 contracts this morning the opening price. The price opened with a gap down and broke below recent low (refer to the blue line). I am not comfortable with this trade honestly as I have not been trading FKLI. I just do according to my system.

Date of exit: Same Day
Long To Close At 1340
The price hit my stop loss at 1340 lossing 8 points including 1 point for commission.

The balance of my account is RM 18,925 after the loss of RM 800 (8points x 2contracts x RM50 = RM800) (The details of my account is at My Future Trading Account Records 2010 )

Trade CPO Using Daily Chart

In case you are wondering if I still trade, I have been doing lots and lots of back testing using different methods and various time frame; 30 minutes, 1 hour, 2 hours, 4 hours, daily and weekly.
I decided to trade CPO using Daily Chart. It seemed that daily chart produced the most profit (paper trade of course) when I did the back testing of 2009 and 2010. I am not going to tell you the performance as it is just a back testing. All I can say is that it is good, really good.
CPO daily chart has less 'noise'. Any intra day charts would give us lots and lots of false breakout till we run out of bullets.
Trading daily chart allow me to have more time to analyse and relax too.

Wish me luck!

Shooting Star - Short To Close FKLI

Date of entry: 9 July 2010
Long FKLI On Break Up
I opened long position at 1324 for FKLI July contract for 1 contract on the break up. The price is well above moving average indicating bullishness of the market at least hourly for the day.

Date of exit: Same Day
Shooting Star - Short To Close FKLI
I also shorted to close FKLI at 1327 with a little profit of 2 points (RM100). The previous bar is kind of shooting star. I ran and will reenter later too.

The balance of my account is RM 19,725 after the profit of RM 100(2points x RM50 = RM100) (The details of my account is at My Future Trading Account Records 2010 )

Exit The Trade, Reenter Later

Date of entry: 9 July 2010
Also Long CPO Now
I longed CPO Sept 2010 future contract at 2316 for 1 contract now. It is a break up with the price just broke above moving average (the last candle). There is higher chance that the price could continue go up.

Date of exit: Same day
Exit The Trade, Reenter Later
I shorted to close the trade since it did not continue with the price of 2308 at the loss (7 points including 1 point for commission). You may think that I am too sensitive. Well, I am using candlestick pattern for the call. I will reenter if the price continue going up

The balance of my account is RM 19,625 after the loss of RM 175 (7points x RM25 = RM175) (The details of my account is at My Future Trading Account Records 2010 )

Long To Exit At 2307

Date of entry: 7 July 2010
Short CPO Sept 2010 Contract At 2283
I shorted CPO Sept 2010 Future Contract at 2283 for 1 contract. It broke down the low of 2289. Daily and 1 hourly chart are all below 24 moving average indicating bearish market.

Date of exit: 8 July 2010
Long To Exit At 2307
I longed to close at 2307 losing 26 points. The price opened with a gap up. I have no choice but to close.

The balance of my account is RM 19,800 after the loss of RM 650 (26points x RM25 = RM650) (The details of my account is at My Future Trading Account Records 2010 )

Long To Exit At 1291

Date of entry: 5 July 2010
Short FKLI At 1297
I shorted FKLI for 1 contract at 1297. It is a nice break down. I will exit the moment the price does not make lower low.

Date of exit: 6 July 2010
Long To Exit At 1291
I longed to exit my trade at 1291 making 5 points after deducting 1 point for commission. The price opened with a gap down at 1287, but it failed to follow through and bounded back making a bullish candle pattern instead. I closed the position before the confirmation of formation of the bar at 10:00.

The balance of my account is RM 20,450 after the profit of RM 250 (5points x RM50 = RM250) (The details of my account is at My Future Trading Account Records 2010 )

Took Break To Look Back

I did not trade for the last one week or two as my previous system are not really working costing me 40% draw down. Well, it is really nice to take a break. Everything seems clearer.
I am adjusting my trade system now by looking into more elements instead of just the simple price breakout. I will still do my back testing as usual to test it out. It is my passion to do research on financial market trading. I still believe that it is the best way to build our fortune.