Short To Close FKLI Just To Call It A Day

Date of entry: 7 Jan 2011
Long FKLI For Potential Continuation Of Up Trend
I longed FKLI Jan 2011 future contract at 1573.5 for 3 contracts. I did not wait till the break up as bullish candle stick pattern speaks well.

Date of exit: 10 Jan 2011
Short To Close FKLI Just To Call It A Day
I shorted to close my position at 1563 (finally!!) with a much bigger loss of 11.5 points for each contract.
The lesson: Stop Loss Limit Should Place At Least Two Prices
My initial stop loss was set at 1569 (one price only) and the price did not match my price instead jump down to 1568.5 way passed my stop loss price. So I was never stop out.
It is important to place a stop limit for at least two prices, for example, if my stop loss is 1569, I should place the stop loss limit at 1569 and 1568.5 or even 1568. By doing so, my stop loss is sure to meet the actual traded price.

The losses: RM1,725(11.5points x RM50 x 3contracts = RM1,725)

The balance of my account is RM17,900 after the loss of RM1,725.
(The details of my account is at My Future Trading Account Records 2011 )

Exit To Lock Profit - CPO

Date of entry: 7 Jan 2011
Short CPO - Price Below Moving Averages
I shorted CPO March 2011 future contract for 1 contract at 3802. It broke below moving averages.

Date of exit: Same Day
Exit To Lock Profit - CPO
I longed to close my position with a gain of 20 points after 1 point commission being deducted. The price seemed stabilizing around this area. With tomorrow being weekend, exiting should be a good idea for me.

The Profit: RM500 (20points x RM25 x 1contact = RM500)

The balance of my account is RM16,275 after the profit of RM500.
(The details of my account is at My Future Trading Account Records 2011 )

Stop Out At 3858

Date of entry: 6 Jan 2011
Long CPO March Contract At The Open
I longed FCPO March 2011 future contract on opening bell at the price of 3880 for 1 contract. It opened with a gap and the price stays well above moving averages.

Date of exit: Same Day
Stop Out At 3858
My position was stopped out at 3858 with a loss of 23 points. It is ok being stopped out since there are gaps at open lately.

My Losses: RM575 (23points x RM25 x 1contract = RM575)

The balance of my account is RM15,775 after the loss of RM575.
(The details of my account is at My Future Trading Account Records 2011 )

Short To Exit On Opening Bell

Date of entry: 4 Jan 2011
Long CPO - Price Higher Than Yesterday High
I longed CPO March 2011 Future Contract at 3871 for 1 contract. Chart is not available at the moment.
(The data feed from Bursa Malaysia is experiencing some problem which caused the unavailability of the data and so the 2 hourly chart, what a mess!)

Date of exit: 5 Jan 2011
Short To Exit On Opening Bell
I exited the trade on the opening bell at the price of 3820 with a loss of 53 points added 2 points for commissions. Bean Oil was down a lot last night and CPO joint the bandwagon. What I don't like about this trade is; I did not have a proper 2 hourly chart to guide me. I should not have traded in the first place.

My Losses: RM1325 (53points x RM25 x 1contract = RM1,325)

The balance of my account is RM16,350 after the loss of RM1,325.
(The details of my account is at My Future Trading Account Records 2011 )

Short To Exit FKLI For Profit

Date of entry: 3 Jan 2011
Long FKLI - A Break Up
I initiated long position for FKLI Jan 2011 future contract at 1535.5 for 3 contracts. It is a break up and the price stays well above moving averages.

Date of exit: 4 Jan 2011
Short To Exit FKLI For Profit
I shorted to take profit at 1547.5 for 13 points gain for each contract (1 point commission included). The price failed to continue making new high after touching 1549.5. It is kind of resistant for now. I will reenter the market later when the opportunity comes.

The profit of the first trade of the year 2011 is RM 1950 (13points x RM50 x 3contracts = RM1,950)

The balance of my account is RM19,625 after the profit of RM1,950.
(The details of my account is at My Future Trading Account Records 2011 )

My 2010 Performance: + 16.09% Only

Happy New Year To All!
My 2010 future trading performance is only positive by 16.09% after all the ups and many downs. The detail is at My Future Trading Account Records
It was a tough year for me; I made a lot of changes here and there. Patience is desperately needed in this business.

Site Seeing: Another Candle Sticks Learning Site

I came across another site that explains candle sticks pattern well. The simple 10 candle stick patterns explain it all.
Do check it out:
http://www.candlestickgenius.com/top-10-candlestick-patterns.html