FKLI Performance Summary: Apr13 contract

Market has becoming quiet as we are going to the polls on 5th May. Below is system Apr results:

Position Update 20130430

It is helpful to have buy stops or sell stops resting in the market which will automatically take you into the trade, but then you must manage the trade in terms of how the market responds.

FKLI
L1714.5 (30/04), C1716.0 (30/04)

FCPO
S2311 (29/04), C2288 (30/04)

Position Update 20130429

You can’t expect your knowledge of yesterday to carry you through tomorrow.

FKLI
L1710.0 (25/04), C1711.5 (29/04)

FCPO
L2323 (26/04), C2326 (29/04)
S2311 (29/04), Open position

Interesting Comment in Previous Post

I received an interesting comment and thought readers might like to read. 
From Eken,

Do you trade full time? I read your blog and found that trading profitably sounds easy and simple, at least for you. However for me, my futures trading journey is a total disaster. 

I started trading in year 2010 with RM50K. I always thought broker knew something more, therefore relied heavily on their tips and recommendations to trade. In less than 6 months, I lost more than 70% of my capital. I surrendered and quit trading for the first time.

After rested for 3 months, I open another futures account with another broker, this time a broker that I have known from attended a seminar. He is a good and diligent person. I learn something new from him. I banked in another 100K. After only 2 months, I gain profits of 20%. I thought I am the king of futures. He told me to keep my ego and maintain good discipline. Then I read a newspaper advertisement about futures trading system. It claimed to make more than 100% in a year. I immediately signed up their signal services. Puuuui! I lost almost every cent trading their signal. I remember called them after broker called me to top up after moeny is not enough to maintain even 1 lot. They told me bank in some more $$ to hold the position. I was so naived to believe in them that I banked in another 50K. Sad to say, I busted my account with in the next 3 months. 

I felt utterly disappointed with myself, losing self confidence ... This affected my jobs. I was fired and forced to move back to my kampung in Segamat. Through my friend recommendation, I found another job in Singapore. Now live in Johor Bahru, travelling each day through Woodlands checkpoints eacy day to work. 

Even though I lost almost entire saving in trading. I still believe theremust be a way to beat the market and "trading for a living". I attended many trading seminar on futures, forex, stock trading etc, always trying a way to make a comeback. Until recently I started to read your blog, I found something I really like, the way you trade. 

Sorry, I wrote too much here. Do you mind me email you to ask for guidance in trading? Do you accept students?

My reply:

Hi Eken,

Thank you for your comment. Trading profitably is definitely not as easy and simple as you mentioned. However there are ways to tackle the market so that hopefully it can work in our favor.

I met many traders and when they relayed their trading experiences, I found many similarities. The one very grave “mistakes” I saw, almost in every story I heard is, blame game. Probably this is the fatal mistake that if you are not ready to rectify and correct, there is no way to you can enjoy the game. When we win, we claimed how smart we are. But when we lost, we blame brokers, system, market, manipulators, other traders, etc… We tend forgot we are the one who pulls the trigger; no one forced us to trade. Yet, when we shifted the blame to others, we feel relieved.

Anyway, in your case, I can sense the fighting spirit. If you continue to learn and improve, there is no way you can’t be profitable.

For your info, I am just an ordinary, private trader. I am not an educator or signal provider. And I am not taking any students due to bad experience in the past. I created this short term system to try to capture short term movement in the market.  I still trade other long term trend following systems in FKLI, FCPO and some foreign markets. This is definitely not Holy Grail.

If you want, you can ask anything in the comments column or email me (bmdtrder@gmail.com) I can’t promise to help or advise you on trading but I will try my best to answer your query. I am also learning everyday in this market. 

Cheers! :-)

Position Update 20130426

Pattern or coincidence? No one knows...

FKLI
L1710.0 (25/04), Open position

FCPO
L2323 (26/04), Open position

Position Update 20130425

Life is full of challenges. Embrace those challenges with an open heart. 

FKLI
L1704.0 (24/04), C1705.0 (25/04)
L1710.0 (25/04), Open position

FCPO
L2274 (23/04), C2310 (25/04)

Position Update 20130424

大凡成功之人，似乎总有一段刻骨铭心的失败之旅。

FKLI
S1696.0 (23/04), C1702.5 (24/04)
L1704.0 (24/04), Open position

FCPO
L2274 (23/04), Open position

Position Update 20130423

Value is defined by time and place, by what someone is willing to pay, not by what something is inherently worth.

FKLI
S1701.5 (22/04), C1700.5 (23/4)
S1696.0 (23/04), Open position

FCPO
L2274 (23/04), Open position

Position Update 20130422

Fear leads to panic, and panic leads to poor decision making.

FKLI
S1697.5 (18/07), C1706.0 (22/04)
S1701.5 (22/04), Open position

FCPO
Nil

From today onwards, I will only update system position after market, no more update during trading hours.

FCPO Position Update 20130418

Trading part time to achieve financial freedom? How about those full time traders?

FCPO
L2300 (18/04), C2306 (19/04)

FCPO Position Update 20130418

Trade the way that suit your personality.

FCPO
L2300 (18/04), Open position

FCPO Position Update 20130418

System trading removes discretionary elements arising from emotional influence.

FCPO
S2292 (17/04), C2279 (18/04)

FKLI Position Update 20130418

你跟一年前比，是不是成长了许多？

FKLI
S1697.5 (18/04), Open position

FCPO Position Update 20130417

Trading is not for everyone.

FCPO
L2311 (16/04), C2292 (17/04)

S2292 (17/04), Open position

FKLI Position Update 20130417

请不要惊讶！ 有些人，为了钱，不只出卖身边的人，连自己都出卖！

FKLI
L1691.0 (16/04), C1703.0 (17/04)

Gold Futures Performance Summary

Gold Futures is probably the hottest commodity right now in the market. It topped some where 1800 before drifting down steadily. It collapsed after broken 1500 psychological support. Today it is trading between 1320-1380.

Here, I am going to show readers how system perform in this market.System started trading Gold Futures Jun13 contract (GCM13) since 27 Mar. Below are the results:-

FCPO Position Update 20130416

if you give a person one watch, they'll know what time it is. If you give that person two watches, they'll never be certain what time it is!

FCPO
L2311 (16/04), Open position

FKLI Position Update 20130416

If you don’t fully accept and love yourself as you are, you could be more prone to comparing yourself to others as a way of artificially boosting your feeling of self-worth.

FKLI
L1691.0 (16/04), Open position

FCPO Performance Summary

System did 13 trades for June13 contract, with 11 winners and 2 losses.

FCPO Position Update 20130415

Losses are not failures.

FCPO
S2306 (15/04), C2292 (15/04)

FCPO Position Update 20130415

If you are confidence that the system can win over the long term, why stressed out?

FCPO
S2306 (15/04), Open position

FCPO Position Update 20130415

Let the market unfold as it meant to be. Learn to accept realities.

FCPO
S2347 (12/04), C2322 (15/04)

FCPO & FKLI Position Update 20130412

The river is flowing where it should.

FCPO
S2347 (12/04), Open position

FKLI
L1712.0 (11/04), C1705.0 (12/04)

FKLI Position Update 20130411

Persistence and skepticism. Always assume that what you’re being told or what you’re reading is incorrect or inaccurate, so take your time and double check everything. Be very careful.

FKLI
L1712.0 (11/04), Open position

FCPO Position Update 20130411

赢了就炫耀自己多厉害，输了就怪市场被操纵。这是什么歪理！

FCPO
S2384 (10/04), C2362 (11/04)

FKLI Position Update 20130411

It is impossible to know in advance whether your next trade is going to be a winner or loser. 

FKLI
L1688.0 (10/04), C1702.5 (11/04)

FCPO Position Update 20130410

Why not approach the market with total ignorant and focus on what is happening in the market right now?

FCPO
S2384, Open position

FCPO Position Update 20130410

The survival of the fittest doesn't go to the strongest... nor does it go to the most intelligent... it goes to the one who can adapt the quickest.

FCPO
S2404 (09/04), C2402  (10/04)

FKLI Position Update 20130410

The best evidence that a market is going up is that it is going up right now.

FKLI
L1688.0 (10/04), Open position

FCPO Position Update 20130409

Blind faith won't take you far. Understanding and action will.

FCPO
S2404 (09/04), Open position

FCPO Position Update 20130409

Stop look at trading as a job, treat it as a lifestyle and an important part of your life.

FCPO
L2401 (08/04), C2418 (09/04)

FCPO Position Update 20130408

当我们不想赚钱时，我们是客观的站在远处，看着河流的流向，那很清楚。但我们很想赚钱时，我们就变的和大众一样，都泡在河里，被冲的根本搞不清楚方向。

FCPO
L2401 (08/04), Open position

FCPO Position Update 20130408

When it's time to get out, just get out, don't wait.

FCPO
S2346 (05/04), C2387 (08/04)

New Trading Hours for CBOT Grain and Oilseed and KCBT Products

For those who trade CME CBOT Grain and Oilseed and KCBT Products, please take note that there will be shortened trading hours starting tomorrow (08 Apr 2013, trade date).

Trading hours for CBOT Corn, Soybeans, Wheat, Soybean Meal, Soybean Oil, Rough Rice, Oats, and KCBT Wheat futures and options, plus all related CBOT and KCBT calendar spread and inter-commodity spread options, will be amended as follows:

• Sunday to Friday: CME Globex trading from 8:00 am to 8:45 pm Malaysia Time

• Monday to Friday: Break in CME Globex trading from 8:45 pm to 9:30 pm Malaysia Time

• Monday to Friday: Floor and CME Globex trading from 9:30 pm to 2:15 am Malaysia Time

Please refer to CME Website if you need more details.

FCPO Position Update 20130405

高胜算，低仓位；低胜算，零仓位。

FCPO
S2346 (05/04), Open position

FCPO Position Update 20130404

Unfortunately, you can't project a reward. However, the good news is you can quantify risk.

FCPO
L2376 (02/04), C2380 (04/04)

FKLI Position Update 20130403

Trying to make decisions when the market is open is going to lead to emotional decisions.

Because of excessive volatility in FKLI today, system is intervened. Position is closed without following system exit rules.

FKLI
S1671.0 (03/04), C1661.0 (03/04)

FKLI Position Update 20130403: 2 Fast 2 Furious Edition

Market has no emotion, market participants are emotional.

FKLI
S1671.0 (03/04), Open position

FKLI Position Update 20130403

Flexible with expectation but rigid with rules.

FKLI
L1670.0 (02/04), C1684.0 (03/04)

FCPO Position Update 20130402

The most expensive loss is the loss of self-confidence.

FCPO
L2376 (02/04), Open position

FCPO Position Update 20130402

Reward is not a function of risk.

FCPO
S2355 (01/04), C2353 (02/04)

FKLI Position Update 20130402

我以为我很了解市场，其实市场更了解我。

FKLI
L1670.0 (02/04), Open position

FKLI Position Update 20130402

When I am tempted to deviate from my trading system, I try to convince myself with numbers.

FKLI
S1657.5 (01/04), C1666.5 (02/04)

FCPO Position Update 20130401

FCPO
S2355 (01/04), Open position

FCPO Position Update 20130401

FCPO
S2382 (29/03) , C2369 (01/04)

Free Money

When I started trading futures, I was told by a "senior" in futures trading to pick up the "Free Money" lying on the street. However, is there really any "Free Money"???

Today I am going to show a case about this concept of free money. This is a trade in the Corn market today. To make this explanation easier, below are the chart of Corn Futures May13 contract.

1. The very first step is to identify a limit-up or limit down market, in this case Corn May13 limit-down last Thursday. For Corn Futures the limit-down move value is 40 cents. It closed 695.25.
2. The idea is to short Corn May13 on the opening if it open between 655.25 (695.25-40.00) and 695.25. If it opens too low, I would assume the down momentum is too strong and probably exhausted at the opening.
3. Stoploss and exit. I like to divide the limit down value to 10, in this case 40.00 / 10 = 4.00. The initial stoploss is set to (Entry Price + 4.00). Short 679.00. Stoploss 683.00. You can set target price to 2 or 3 times the risk value, T1=671.00, T2=667.00. But, make sure to trail a portion of position till the end. Who knows, there might be another limit-down in the making.

#I need to point out the difficulty in this trade in when I try to short at the opening when market open. You need to very fast in executing the trade especially market moves extremely fast with orders flying around in the opening.

Enjoy picking up "Free Money".

FKLI Position Update 20130401

FKLI
S1657.5, Open position