20051129 Close. Sidewas to down movement after the triangle breakout. Would be prudent to square position, wait for next setup. An abject lesson that technical analysia, its patterns and indicators; nothing is 100% correct. It is important to have the mindset to accept that things are not working out as expected, and move on to the next trade.
FKLI Futures Trading - Bursamalaysia
This will chronicle trading in the FKLI & FCPO futures. If you don't like what you see/read in this blog, just surf away. These opinions are our personal opinions and just a record of our thoughts..."In evolution, it’s not the biggest, the fiercest nor the smartest that survive, it’s the one that changes the fastest.” I.e. the key word is to adapt the trading style to the markets, until it stops working
Tuesday, November 29, 2005
Friday, November 25, 2005
Thursday, November 24, 2005
Wednesday, November 23, 2005
Tuesday, November 22, 2005
2005122 So if we took a long position at the support levels indentified just after lunch (892-894), what do we have going for the position? 1) The day trend is stil up, as the daily macd and stochastics have not crossed down and 2) the FKLI is trading at a big discount to cash index with less than a week to expiration. Net net the position has a good risk-reward equation. However things may yet change, depending on the price action next day or so.
20051122 Close. A ZLR sell signal given b the CCI momentum indicator. The settlement long trade is now few points underwater, but yeat to see what will eventuate come settlement next week. Maybe can let the cash index (which has not confirmed the fkli next leg down) reaches 895, the reevaluate on whether to average (bad word here) or take further action.
Friday, November 18, 2005
Tuesday, November 15, 2005
Monday, November 14, 2005
20051114 Continuation of selling on key blue chips pushes FKLI down again. So the ZLR sell signal turned out to have follow through. On this move is 6 consecutive days of falls. Usually after 8 to 9 days of falls, the markets rebound technically. Would look to scale into some long positions by tomorrow given the overextended discount of the futures v cash.
Friday, November 11, 2005
Thursday, November 10, 2005
Wednesday, November 09, 2005
Tuesday, November 08, 2005
Wednesday, November 02, 2005
20051102 Going into the 2 day break for Hari Raya celebrations, the FKLI narrowed the discount and settled against the 50 day moving average. Buy signal on Monday turned out to be a good one. Since the cash index is about 4 points off its 50 day moving average, expect a little more upside for the FKLI. 920 can be a level for shorts for scalps.
"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore
THE END OF AN ERA
From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system