My Trading Adventure

First trade done : FKLI

CP TEH
Publish date: Sat, 28 Jul 2012, 07:32 AM
CP TEH
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All the writings in this weblog are mainly for PLEASURE reading purposes. I am in NO position to recommend a call(BUY/SELL). Please check with those know-hows before you make a decision. Yes, I am just a learner, with only five years experiences in KLSE. So, please BEAR with me.
Following Message

KLCI : This is our index now ... going below overbought region and the correction is needed. Went below 20MA now, with DOW up another 200 points, will we be seeing rebound?

This week, we took a short position at 1635 and glad to escape and covered at 1623. It is very volatile and lack of liquidity. We are swimming dangerously with sharks.

Next week, we may see short rebound ... and we should be going long. Will 1620 will be good to sell at 1635? We shall see ...

cohort-7 : Today I will have a new batch of tratles coming in ... and I will be excited to know them.

TEH
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Discussions
1 person likes this. Showing 3 of 3 comments

Weng Fai Yik

With Dow Jones has had overnight triple digit gain, FKLI will probably shoot up to 1630-1635 region pre-market trading. It will be good to have a crystal ball to be able to see that on Friday, thus going long. On Monday, the FKLI will most probably trade higher. Will you be going long at, lets say 1632? =)

2012-07-28 11:47

CP TEH

hi,

KLCI moving opposite direction at the moment. Yes, we covered the short as it is weekend. Besides, it is out first trade, learning to check on technical. I will not jump to long at 1632 levels, but rather to wait to short again at resistance.

I am new to FKLI ... and may need a year or two to understand some charateristics and coming out with some strategies. I dont know yet, too raw.

Any pointers will be appreciated.

Thanks

TEH

2012-07-28 13:19

Weng Fai Yik

Hi CP TEH,

I'm also very raw, maybe 1.5 months earlier than you in FKLI. I'm in no position to point out anything. Lets share the experience shall we? =)

As for me, I simply use dual EMA (26d and 7d) to determine to buy or to sell. Explored other method eg Ichimoku Kinko Hyo and others technicals, but I came back to basic EMA. EMA 7D crosses above EMA 26D I'll go long and vice versa. As a EMA user, WHIPSAWS MEANS LOSSES to me. Trying to avoid whipsaws by using longer EMA you'll get slower signal and less profitable trades. Trying to strike a balance between these two extreme is my current objective. Still experimenting with different EMA settings on ChartNexus with data since 1995.

I started my first real trade by shorting FKLI on 1 June 2012 (as EMA 7D> EMA 26D). Covered my shorts and go long on 13 June 2012 (as you can see EMA 7D crossed above EMA 26D for few days) at 1575. I've been holding on long contracts eversince (till my dual EMA tells me otherwise).

Oh I haven't introduce myself, where are my manners. CP TEH I've been you loyal silent reader. Great stuff you got in your blog, with great mission to educate others. I've been out from trading stocks, my job doesn't allow me to. That's why I've to resort to futures, with one index to see EOD.

2012-07-28 14:20

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