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
Friday, February 27, 2009
Thursday, February 26, 2009
20090226 0922. FKLI Mar 09 15 min chart continues up, since our bullish stance yesterday.
Wednesday, February 25, 2009
Tuesday, February 24, 2009
Cash KLCI, market forces or manipulation? You can make your mind up. Please don't construe my rants as accusing some of 'creating false impression of market activity'. I am like the auditors, expressing an OPINION on the trading, which can be either true or false. At least it does provide trading opportunity....
20090224 1653. Cash KLCI index value last minute jumps by 4 points to close 894. Same type of manipulative price action as yesterday. Seems the worthwhile trade only comes in after 4:30pm nowadays. But if one looks at the 5 min chart we can enter around 884-885 area. The short on usdchf is working out right now...
Monday, February 23, 2009
20090223 2302. eurusd now at 1.2788 and usdchf at 1.1602. We are closing positions and calling it a night.
20090223 1715. FKLI futures 5 min provided a sell on the 'manipulation' markdown of the cash KLCI at 4:51 pm. You can see clearly why it would not be a buy on the close below the 3 mov averages. It is blatant manipulation, and the authorities does nothing about it, but what the heck, at least it provides trading opportunity!
Saturday, February 21, 2009
20090221 I was asked yesterday what made the bias on the downside, going into yesterday's opening of the FKLI futures. A look at the 4 hour chart tells the story. If the pattern plays out (head and shoulders reversal) there will be a pullback to the neckline then a decline equal to the height of the head, which would be around 865.
Friday, February 20, 2009
20090220 Makes interesting reading this article about whether the weakest stocks should be delisted from being an index component. Maybe bursa should do the same to MISC, which is regularly used to mark index values.
Thursday, February 19, 2009
Wednesday, February 18, 2009
20090219 2252. eurjpy gets above 120 and the trade is closed out.
20090219 1103. They tried to squeeze the longs but it backfirec, eurjpy rises above 118.
20090219 0905. eurjpy trades 117.85, so the stop can move to breakeven,, waiting game till London opening at 3pm.
UPDATE 2324. We have moved the stop to 116.80 and we'll let the eurjpy long trade run overnight.
20090218 2211. We are long eurjpy from 117.15 on the breakout at 2148. Let's see what happens.
Tuesday, February 17, 2009
20090217 RHB's announcement of its DMA for both equities and futures, through GL Trade. But the cost, witll definitely be very rich for retail traders.
Monday, February 16, 2009
Friday, February 13, 2009
Thursday, February 12, 2009
"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