Playing the real number game

So far so good

2011-06-11T11:48:00.000+08:00

My main target is to hit an income of RM 20K in this month and speaking about RM 20K in a month, it has been a while (about 2 years) since I last hit that threshold. Psychologically, RM 20 K in a month is achievable in both the sales industry and also in the financial market.Once this figure is reclaimed, I will try my very best to break my own record which is roughly about RM 30K.
So far so good this week ,it has been really fruitful.Relationships are getting better since I returned to the employment world. Moods are getting better too.
I have hit more than 25% of my targetted income so far and will continue to fight for that remaining 75%.

Although the market is the passion that I will never let go, I dont think that I will become a full time trader again anytime soon. Maybe about 3-4 years from now....

The return to FCPO!

2011-05-29T13:40:00.000+08:00

It has been like ages since I get myself connected with world financial matters because I have been out of the market since a few months ago( almost a year already) and no matter how much I've tried to convince myself to return to my previous best, it was useless. The reason is that all of us believe that ignorance is bliss ...not all of us but losers like me. We live in denial and no matter how much I've tried to convince myself that I made money in the market but the fact is my expenses surpassed my cashflow. What happened is I went into the gaming euphoria ,playing games everyday and became one of the top 200 players in south east asia . What's the point? It has been useless because top 200 cant make money, only the top 5 or top 10 are able to.

Nothing is permanent and same goes to bad spells. I've returned to the sales industry and will once again command my 5 figure income. The anticipated return will occur in June where I will begin to trade in CPO again.

Whatever that doesnt kill me will make me stronger.

Return of The Jedi

2010-12-22T23:20:00.000+08:00

Ladies and gentlemen,I have decided that it is time for a comeback to the bloggosphere and I have been in the market once in a while for the past 2 months of hiatus as well.Everything remains the same here...the passion for the market has never changed, the desire to succeed is always there and the mechanical system has always been profitable.Being lazy has always been a pleasure but this temporary pleasure has to be stopped,I realized. Life of a full time trader is a true test to one's discipline not only the market but also in life. For example, if the market that we trades opens at 9am, and we sleep at 4am in the morning ,that is a sign of indiscipline but then again, it's the choice we make.A position trader does not need to monitor the market as all he needs is to place stops at the right time and price.

I have seen a lot and been thinking a lot lately....and worse,I had a dream...yesterday..that I turned back time to the age of 21. Next year I am going to be 27 and I tell myself that next year is the final year I allow myself to live moderately. Plans have been drafted in my mind and a full force return to the market is imminent.
Glory will be reclaim and see you at the top !

Just a word or 2

2010-10-05T18:56:00.000+08:00

Ladies and gentlemen, imagine a glass falling from the ceiling ...gets broken with a bang !
Recently, over the past 2-3 weeks, I have been smacked by the market badly to a level where I have no more ability to recover the losses in a short period of time. And because of this, I have also decided to take a break from the bloggosphere due to my non commitment to the market. I became a full time trader in August year 2009 and September 2010 might be the end of my career as a full time trader. Might be only,ya.
The rise to glorious trading is never an easy path and although I have lost majority of my trading capital, there is 1 thing that I have never lost which is my confidence.
The thing that I have discovered along my journey is that although long term trading yields slower profits but in the long run, it is safer than short term trading whatever system that we implement and not forgetting that long term trading outperforms its shorter term counterparts.

I would like to thank everyone who takes part of their time to come to my blog giving me criticisms and also encouragement ...... those mean a lot to me for me to be a better trader in the future. In this setback, I never blame any external factors that caused my downfall....except myself.

To those who are still trading, I wish u guys all the best!

And I will be back !

*DOWN BUT NOT OUT*

The lifespan of a financial blogger

2010-09-23T04:08:00.001+08:00

Most financial bloggers will eventually die, especially futures bloggers. I can say that 99% of the futures bloggers out there are traders themselves. Eventually, they will lose money..and although it sounds cruel,this is the reality of the market. As we can see, there is this gentleman who commented on my cbox saying that some bloggers stopped blogging after some drawdowns. Well...seriously speaking, I don't think those are some drawdowns..those are huge drawdowns.
First,there is no financial benefit for us to gain by blogging and blogging is actually a hobby for most of us.So,when a trader reaches to a point where he couldn't accept his losses , he will take some time off from blogging. Actually, when I lose money,I don't like to blog too. Well, make it simple la...it is not easy to continue being a financial blogger. I'm sure that many people will be disappointed. But don't worry,ladies and gentlemen...
there are some bloggers who are very serious in what they do.

Kan H.S from http://klfutures.blogspot.com/ and Martin Wong from http://www.traderstruthrevealed.com/
and Bloodscalper from www.killingtrade.blogspot.com are 3 bloggers who are very serious in what they do. To be honest, I am their loyal follower.They provide valuable information to the public.

p/s: Of all the blogs that I follow, the one that made the biggest impact in my life is still http://www.cpotrader.blogspot.com ..I've read all his old posts till his latest posts ...and learned alot from there.

What is your biggest fear?

2010-09-15T13:06:00.000+08:00

Death is the 6th most feared thing in the world. The number 1 most feared thing is Public Speaking. Logically this is the case.
I have been frightened many times and death is not one of the factors. I remember, there was once when I was walking pass ( I dunno what we call it ) an entrance to a condo parking space. There is a steel thingy that goes up for the car to pass ,then it comes down signalling the car to stop. I was walking pass that thing and jsut by LESS THAN A METRE, the thing fell down. Normally that thing is covered by something but in that old apartment, that steel was quite sharp. I was very calm at that time.

Second experience was in the open sea. I was trying hard to go underwater.....which means I did not wear any life jacket. The water wave was so strong that I went hard against it. My muscles were tired already because I have been swimming for 3 days in a row. I wasn't too far away and there were rocks somewhere. I 'dislocated' my right shoulder.......a normal injury for swimmers , badminton and tennis players. This injury comes from the rotator cuff ....one of the parts of our shoulders. I could not move my right arm AT ALL due to extreme pain. What I did was I thought I was going to die ....but pain is something normal to me.I swam using my legs of course and my left arm to a place that have rocks so that I can rest. After thinking how to solve this problem, suddenly , I pressed my rotator cuff . My right arm could move again.

* To those who do not know where the rotator cuff is , it is actually located on the back of the shoulder. If you play badminton after a long period of not playing, u will feel that your rotator cuff aching the next day.
The rotator cuff is one of the weakest links of a sportsman and is one of the most important group of muscles in sports.Try massaging your shoulder after you kena this type of injury because it could save lives.*

After that,of course I swam back to the shore....and things were alright again. We need a lot of time for full recovery. Partial recovery...erm..about 1-2 weeks time. I was working hard in the gym after that injury and suddenly when I reached plateau in weight lifting,I could feel pain on my right shoulder again. Maybe history repeats? I stopped gym until now.

So, death is definitely not one of the most feared things in the world ...because most of us live in suffering. To me, my most feared thing is not being able to survive in this world. I have gone thru a lot as a full time trader and to be honest, I have overcome my own greatest fear.

What about you?

I wish I could

2010-09-13T20:07:00.000+08:00

Recently there was a comment stating that I can fool everyone but not myself. That is a figure of speech but to me, I won't be able to do that.
If I can fool everyone in the world,I would have been the richest man on earth.
To be honest, as a breakout trader myself, I make mistakes by exiting my long position in FKLI too early. If a person tells you that he is a true trend trader, ......he might be lying ..or he is a top trader. Imagine the early breakout of FKLI at 900 points up to 1300. And some minor losses along the way before another breakout to 1460 ! A trend trader would have profitted more than 300% ( my own assumptions ) in 1 1/2 year time.
Following the trend sounds easy but when we encounter a sideway market in FKLI in May, we might have lost confidence. Following the trend is the most simple thing but it is one of the hardest things to do in the world of trading because if one is disciplined enough to follow the market on continuous basis, he is destined for financial greatness !

Dont judge a book by its cover !

2010-09-11T23:20:00.000+08:00

Okay ladies and gentlemen, the way I have blogged may have created uneasiness amongst my readers and friends but this blog is a personal blog of a trader which I use it to voice my opinions( and also something for me to remember and recall back years to come ). Some people may view me as cocky, some may view me as humble , some may view me as confident. Don't do not take everything personal because this blog has no business value. I am not planning to sell any financial service to anyone by using this blog because I am not qualified for it.

Those who are not satisfied by the way I blog still come to my blog because they are curious of what I wanna write.
I am who you think I am. If you think that I am cocky, I am. If you think that I am humble, I am. This is the fact of life. I can't be able to satisfy everyone in this world. Once again, this blog has no business value and is my personal journal of me recording my opinions about the markets and also my own life .

*Cheers*

p/s: Do not judge a book by its cover

Fundamental Rumours!

2010-09-11T15:14:00.000+08:00

A rumour is a rumour before the news is published but when the news is published, it might be game over by then. According to sources, KLCI will reach the moon in about 1 1/2 years time but I can't reveal the rumour as a form of respect to my friend.Because of this strong fundamental reason,the foreigners might be flooding into our stock market anytime when they receive this rumour. This is just an appetizer for everyone.

To me, whatever the rumour is, I prefer to trade according to price action.I think FKLI is not a welcoming market for swing traders because there is no shorting opportunity at all. Intraday shorting opportunities are available but if we talk about position trading, I don't see any possibility of the market swinging up and down. It's a 1 way traffic. The trend is up ..... the long term support is even see below 1400. I'm looking at around 1380 levels.

Happy Eid ul-Fitr to all Muslims

2010-09-09T19:18:00.000+08:00

I wish everyone Selamat Hari Raya Aidilfitri !

A secret revealed on this post

2010-09-07T23:49:00.000+08:00

Everyone is looking at the SAME OLD CHART(Time frame chart) because many people do not know that there is a few other charts available out there. I will reveal 2 additional charts .I know 3 additional charts but I would love to keep the final one as a secret.

1st : Point and Figure chart (everyone knows about this)
2nd : Volume tick chart

Now, a secret is being revealed. The volume tick chart ,if used properly will yield high returns especially in the stock market !

I know a person who uses this chart but he refused to give me any additional information. There are many times when I wanted to korek info from this person but again and again, I got rejected.

I am a loyal follower of Martin Wong's blog and I believe he is doing a good job in sharing information to all of us. His blog address is in my blog list. Well, his partner and him are teaching a method called VSA ( Volume Spread Analysis ) and this method is founded by Wyckoff , one of the fathers of technical analysis. Currently, they are promoting a software called TradeGuider. There is a few questions that pop out from my mind.

1st : If I use TradeGuider, can I just rely on this software to give me signals?
2nd : If I use TG, do I still need to attend VSA seminars ?
3rd : What is VSA seriously speaking?
4th: Can VSA work in the futures market?

Can someone enlighten me with this?

p/s: I just know that if a stock sells down and make a new low with very low volume, it is a reversal . Is it true ah?

KLCI Daily Chart

2010-09-07T18:30:00.000+08:00

KLCI Daily

Just a quick update and appreciate if any of you can comment on this chart. Let's learn together.
Look at the up arrow marking a breakout to the upside and currently we have seen a few days of consolidation forming a " Flag . " A flag is a continuation pattern and if we were to trade based on this pattern, we can only go long. The thing is this ...this flag looks a bit small. The uptrust bar was small too.

And yes ...it's a bar chart. :)

Returning to the sales industry!

2010-09-07T02:21:00.001+08:00

Aiya. Wrong title ? I tot that we are always in the sales industry ? Selling CPO to other traders... Buying CPO or FKLI from other traders and sell those stuffs ( future contracts ) to other traders.
One of the best quotes that I have encountered is " Salesmanship begins when the customer says no. " To me, Salesmanship ends when the customer says no. It always depend on what products we are selling. Let's take insurance and credit cards as examples. I sell cards. You sell insurance. You provide long term services with clients and u need to be constantly updating them . I sell cards, I only need to come up with a road show in a shopping centre somewhere in Kuantan (KL and PG market are too saturated) .... say Wave those cards.." Hey Sir, promotion for XXX card ending next week . " Bla bla bla.

I wanna return to the sales line in a sense that I want to sell my investment services to people. Tarak license is definitely illegal la but .... I dare to say that the market is full of illegal activities especially market manipulation ! When the market becomes very quiet, SC and Bursa will be worried and what they do ? They approach a group of participants called " Promoters " and " Operators" ( Syndicates ) to goreng stocks.
I will start to reconnect with the world next month and see if there will be people who are willing to take risk to improve their lives. Remember,I will only manage money for NON TRADERS. I WILL NOT MANAGE MONEY FOR TRADERS. Why? Because I respect their profession. It is a privilege to be a futures/stock/forex trader ! Of course I will be looking for non traders to convince them to buy into my idea. Like I said, to me, Salesmanship ends when the customer says no. In my humble opinion,if the person does not buy my idea, then it is his loss, not mine and I will just give up that person without having to follow up.

So,I forsee that life will be interesting soon because besides trading under my own personal account, I will move to the next challenge to become a business owner. Eventually,for trusted , FOR VERY TRUSTED people, I will open a company with him/her. In fact, I am going to do this with one of my trusted friends ..without starting a company but by pooling in the money to each other's account.

To those who are true winners of the futures market/stock market/forex marekt, it will be a pleasure if you do not mind to move into the "B" quadrant and become a business owner by having clients to make money. There are so many types of businesses out there..like selling shoes, selling computer...we are in the business of helping people to make money in the market .

Gambate !

p/s : Tonight, I won't be drinking tea to sleep . Im grabbing my alcohol.

Powerful quotes again

2010-09-06T13:56:00.000+08:00

We think sometimes that poverty is only being hungry, naked and homeless. The poverty of being unwanted, unloved and uncared for is the greatest poverty. We must start in our own homes to remedy this kind of poverty. - Mother Teresa

Daring ideas are like chessmen moved forward; they may be beaten, but they may start a winning game.

Most poor people are not on welfare. . . I know they work. I’m a witness. They catch the early bus. They work every day. They raise other people’s children. They work every day. They clean the streets. They work every day. They drive vans with cabs. They work every day. They change beds you slept in these hotels last n...ight and can’t get a union contract. They work every day . . . - Reverend Jesse Jackson

FKLI to the moon

2010-09-04T21:52:00.000+08:00

I'm planning a long entry in FKLI after seeing it correct for 2 days . Probably T+4 selling might be over. The overall trend is still up while hourly trend is already oversold.
Recently I have suffered some unwanted losses in CPO and currently ,I'm holding some unrealized profits. Current position : Long at 2550 ++ . The damage has been done and I'm going to be abit cautious with my position sizing from now on until I capture a big move in the market again.
Talking about FKLI .......no hard feelings ah, traders. I understand there are many many many shorties in this market. These shorties are skillful traders and also beginners who did not believe that this market is trending upwards.Before I proceed , to those who read my blog, please understand that losing money is just a small problem..never "trade in denial" and continue to believe that the market is going to go down because nobody can predict the future. Honestly speaking recently, I long CPO at the high. Cut loss...short near the low , cut loss and now reverse to long. I accept my defeat and losses. But this FKLI provides superior shorting opportunities for those who are out of the market. Because the bigger the bull is , the bigger the bear will be. But WHEN ? Be patient , young comrades ! The time will come when the market crashes and when the market crashes, we enter short ( not before the market crash as nobody can pick the top ).

Happy 1 Day Holiday

2010-08-30T17:44:00.000+08:00

It seems like my decision to long at 2580 might turn out to be a losing trade.

If we look at the 30 minutes or 5 minutes chart, there was a breakout from the inverse head and shoulder pattern and my mechanical system also triggered a long signal. Anyway,the market is going to close soon and i'm going to carry my longs overnight.

Happy holiday to all Malaysians!

Flag formation in Suncity

2010-08-29T16:21:00.000+08:00

suncity daily

Attached is the daily chart of suncity. I relooked at the volume. It's not bad . Triangle breakout was confirmed.
Now come the next pattern. Some call this a pattern within a pattern.LOL. Okay, my own PERSONAL charting view is that I have identified a flag pattern. A break up is a very low risk , high reward set up.
The question is that.... Long FKLI or Long Suncity ?? FKLI requires only RM 2.5K. Suncity,I need at least RM10K. Hmmm.... normally futures traders don't like to trade stocks because of this factor. We can control something worth about RM 40-60K by just using RM 2.5K!

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Currently I am reading a book called " How to Sell yourself " by Arch Lustberg . I recommend this book to everyone there is whether you are a computer programmer, whether you are an investor, whether you are a public speaker bla bla bla. Everything we do, we attract attention whether it is positive or negative and indirectly,we are selling ourselves to other people. The author is good in a sense that he is using simple to moderate english ...far easier to understand than " Reminiscenes of a STock Operator " that traders love to read. To be honest, I actually bought the China version of this book which costs me only less than 15 bucks. LOL

Honesty is the best policy

2010-08-28T14:23:00.000+08:00

I love putting my nose on other people's side . That's just a figure of speech of being busy body.Alot of the futures traders that I'm chatting with are shorting FKLI and some bloggers are also shorting FKLI. Some said, there are out of the market. Some said they are long. Well,I am just curious.... the most important thing is being honest. I respect honest traders who admit their losses because by being honest, he/she will be able to improve, that means this type of traders have controllable ego.For example, an ex colleague loves to ask me how am I performing in the market. To be frank, I hate people asking me this question whenever I lose a lot of money but like I said, honesty........is........the best policy. :) We never hide our losses! Whenever I start making money and becoming "egoistic" again, I tend to take revenge by purposely asking him how much is he earning in the sales industry. To be less straight, how much volume did he generate. He always tells lies! Yesterday,I indirectly told him that I know about everybody in the banking sales line...asking him don't underestimate my ability to check him out. The banking line industry is very small... There is just a few banks that have their own sales force and I know people from every single bank.The network is connected .
Blogging about trading is the same. When we bloggers make money, we tend to blog more often. See the pattern here??? When we lose money, we might even hide our losses or blog very less. LOL. I'm just one of them...remember?? When I faced heavy losses in the month of May / June, I decided to stop recording my trades ! Human nature la. Those bloggers who record their trades take heavy responsibility and pressure from outside ,to be very honest. This is the society that we live in today.

Technically, I am very optimistic that FKLI will go up on Monday. It will definitely gap up and once it is above Friday's high, I will plan my long entry. But there is a problem here! Based on TA , it is okay to long but based on history, it might not be good to long because Tuesday is a public holiday and futures traders dont like to carry positions overnight during holidays! So, the long traders of FKLI will dispose their contracts normally at the end of the day(monday). Judging based on the market psychology, I still think that there are not much buyers in the market. I think that the market is going up due to short covering more than buying. So,since that the confidence is only low to medium, it is advisable for those who want to long to enter the market with minimum lots. 1 lot to me is good enough.

As we know,I suggested that we long FKLI on pullback and long CPO on breakout. Everyone has his own resistance and support. My resistance will be broken on Monday and therefore, a long entry will be established in CPO on Monday ( my long entry is very near ).

All the best in trading!

Unbelievable !!!!

2010-08-26T23:33:00.000+08:00

1 word but 4 "sounds". F K L I !
This is really a tough market. Too high to long and a totally brutal markets for the shorties. I have found joy in being out of this market and focussing on CPO instead. There is virtually no chance for short sellers to make money in this beautiful trending market.
*Note: This post is meant to be my own personal point of view only.
I know that many many many many traders ...... some are top professional traders ARE shorting the market.My point is this. When it comes to this type of condition, it is ok to short FKLI under the conditions that we must have a cut loss point ( eventhough if eventually we are right on our short trade ). Cut loss,means cut loss.......without regrets. Second condition is that we must never go all out in our short trades because the trend is up. Since that we are going against the trend, we should know that our chance of making big money is slim.But some traders have the ability to trade countertrends so, my point of view is that we have to play small during countertrend trades ..and play big during trend trades.Let's look at it this way. My trend trades yield an accuracy of about 40-60% while my countertrend trades yield an accuracy of only 20%. Why wanna make life so difficult??

I believe that there are many ways to trade in the futures market. Some love to average losses. Some love to average winners. Stock traders love to average losses and this should not be done in FKLI. In forex or cpo ,it is still ok because cpo got a lot of countertrend moves and also intraday volatility. FKLI ? One way street only.In my case,I love to average winners.Both these strategies are driven by hope and greed. People average losses because of HOPE while people average winners because of greed. Both will bring us to a point of no return,one day. But averaging winners is definitely better than averaging losses coz the worst case scenario is to break even.
Another thing, some traders cant cut loss. Some traders cant take profits.

Enough of talking cock here.
The strategies! LONG FKLI on pullback. Long CPO on break up ! U guys determine the support and resistance.the entry and exit price is not the issue. The issue is to follow your own judgment/system.

My friends out there.. It is okay to lose money. It is also okay to make money. 1 defeat will never change the whole outcome. Same goes with 1 victory. We are in these hundreds and thousands of battles in 1 WAR. I wish you all the best in your next trades.

p/s : I am thinking to give free trial signals to the public to attract new investors for me to trade for them. This is only a rough plan which I may not even plan. It will be either providing signals before market opens..or I reveal my trading statement. Both are not good ideas.

A new beginning

2010-08-25T20:10:00.001+08:00

Settling some issues nowadays and will reconnect with the world again a month later. There are many things that I want to do and many things that I want to stop doing. One of the things is playing computer games. Seriously speaking, this disease has to be cured once and for all. Imagine that I have been a gamer for so many years, if I actually use the time and money for other more beneficial stuffs, I would have gained a lot. Let's give an example of 10 years as a gamer. How much money have I spent in the cybercafe? How much time have I lost there? Gamers enter the world of games and they can be whoever they want ...at the end of the day, it is never good for our self esteem. Subconsciously many gamers try to achieve what they cant achieve in reality , in the gaming world.To make it more simple, this disease will cause us to get deeper into our world of fantasy.Gamers feel proud of themselves in their own "games" but they have low self esteem in reality.I'm not talking about all gamers,just the majority of them. Well, to continue this journey as a gamer is going to drag me deeper into the point of self destruction. Of course for example, if you ask a smoker to immediately quit smoking, you won't be able to do that. I give myself a month time to kau tim this personal problem and start reconnecting with real people again. A new beginning will occur in the month of October,trust me for this.

Coming back to the market, it is astonishing that CPO crashed below 2500 targetting my next buy target at 2480-2470. But my turning point is getting nearer and once it triggers, I have no choice but to turn short. Sometimes I feel that it's not worth to go short this time but what to do? Like Nike's motto, JUST DO IT !

Well, I still believe that FKLI is poised to go up ...but it is coming to an end soon. One or two more bear strikes and that's it!

The markets are not my main concern at the moment. My ultimate objective is to quit gaming !!! C'mon guys, give me some morale support !

CPO Weekly Triangle

2010-08-25T01:07:00.000+08:00

For viewing purpose only . :)

95% or 97%

2010-08-25T00:08:00.000+08:00

Recently I have googled the percentage of failure in internet marketing .some said 95%, some said 97%. I know that network marketing's failure rate is 97% la. And then in the market,the failure rate is about 80% . So good ah? I'm sure everyone has heard of the 80/20 rule before.20 % success rate?

Whatever percentage it is lah.......the lower the better. Actually, trading has become boring but at the same time became so easy for me. Long ,short or stay out. Most of the time is either long or short.

Talking about success rates, failure rates, the 80/20 rule bla bla bla... it has caused traders to mislook something very important.
When we talk about 95failure rate ,we must also NOT FORGET our 5% homerun trades. The lesson is never miss out a major profit trade.

Suncity Triangle Breakout

2010-08-24T11:16:00.001+08:00

Triangle breakout in Suncity but with low volume. A break up in stocks must be accompanied by big volume.Let's see how is the development these few days. I think it's worth looking at this counter. Prefer to buy before the budget announcement. Target price : Above its all time high

A Legend Retires

2010-08-23T19:32:00.000+08:00

Stanley Druckenmiller has retired from fund management and will dedicate his life to invest his own money.
A true legend retires, he claimed his place amongst the most successful hedge fund manager when he shorted the pound sterling for his former boss George Soros and helped made a USD 1 billion profit . 30 years....... 30 years is enough for this greatt man.

The real battle is coming soon

2010-08-22T00:39:00.001+08:00

I have been a follower of a blog called www.ginsing70.blogspot.com for quite some time to check out updates by other bloggers and recently, I have seen that more and more bloggers are turning bearish on CPO. But here on my site, on my side, I am still a bull. It has been quite a while since I was a going against the majority. If you look at the charts, it is so certain that market operators distributed their futures contracts at above 2700 recently.One thing we do not know is whether they had turned short or just staying out. We also do not know whether they are planning to go long below 2500 or not until it happens. My strategy based on my own point of view is to go long at 2530++ ( I have entered long at 2539 ).I will increase my position if the market trades at around 2480. Note : * I only share my entry plan here.Everyone needs to plan their own exit plan as well.*
My short term view is very bearish. Long term view, slightly bullish. Since that I am applying a lagging trend following method, my bias is towards the long side until a certain support is broken. According to Mark Fisher, "time is a greater than price." If you look at the downtrend from March 2010 till July 2010, it took about 4months. The recent uptrend has lasted for about 1 month plus. If this is indeed a real uptrend or bull market, it should last longer than that !

Dow has been going down everyday and FKLI has been going up everyday. I understand the feelings of most of the bears out there because I have been a bear more than I have been a bull. When we see FKLI trading at 1390, it really reminds me of the 2006 bull market . When FKLI was trading at 1000 , which was the psychological level at that time, I shorted a few lots. Reasons ? MACD Histogram divergence la. Candlestick paterns la. RSI divergence la.I ended up losing money. The bulls respect the 1400 resistance levels but historically when a psychological level is tested, it is normally surpassed.I dunno much about Dow ...as for KLCI, the market is not ready to go down. One of the reasons is because the recent uptrend is only supported by blue chips. Remember, the end of the market will only come when all the 3rd liners and PN17 stocks go up with big volume.

How to be a professional trader

2010-08-20T16:01:00.000+08:00

There are 2 types of traders that I truly respect.

-Winning traders
-Professional traders

Note:Everyone can correct me on this topic

Winning traders are traders who make money in the market over a certain period of time.

Professional traders are traders who trade full time for a living.
Professional traders might be part of the losers too.

So long as a trader is still a part time trader,he is still considered as either a winning or losing trader. Anyway, who cares? Most importantly is making money whether we are trading part time or full time. Lol

A little bit of my secret here

2010-08-20T01:23:00.000+08:00

I have asked this question again and over again to a group of futures brokers from a broker firm and it seems like their perception has changed.

" Have you met any trader who consistently make money in the market at least for a year? " The answer that I used to receive was very disappointing. They answered, " No." I can't be asking them this question anymore if you get what I mean. LOL.
I am itching to ask them again a similar question.
I wanna ask them , " Have you met any trader who makes money consistently for a period of more than 5 years?"
I'm pretty sure the answer is NO. Actually,one of them can just answer yes because he is one of them who produces a return of about average 60% per year over a period of 10 years.Dont look down on this 60% per year because these brokers will tell you that they have never met anyone who makes money consistently for 10 years in the futures market. LOL.
Some of you may think that the brokers that I ask may not have enough clients.This group of brokers are working in a dealing desk that generates an average volume of MORE than 700 lots per day. it can even go up to more than 1000 lots in a day.

Ladies and gentlemen, it is my uncommon ego to claim that I make money in the futures market for a period of more than a year. I have done it not on part time basis but on full time basis.Whoever I am in real life does not matter..most importantly,I am blogging to tell the world that making money in the futures market is very possible but not everyone can achieve it. In this period of 1 year,I have gone thru multiple psychological trauma because money is an emotional subject. It has never been the problem of Technical Analysis or Trading System , it is always been the problem of the traders themselves.

I have forgotten exactly when I turned full time... I know it was in August last year.

If you ask me whether there is anyone who makes money in the futures market(for a period of 1 year),I am actually a living example.An advice for all. First, aim for survival . Second, aim to make small and consistent profits. Third, aim to make big money.

I have achieved the first and second steps. It is a matter of time that I achieve the third step.

Once again, I wouldn't have done it without the advices of those wise people out there.

If you are part of the winners of more than a year, you should be proud of yourselves because we are part of the extreme minority!

Pocket money gone

2010-08-19T19:24:00.000+08:00

I wanted to earn some pocket money to buy Starcraft 2 but ended up poking a big hole on my pocket today.3 series of losses in total. 2 came from FKLI and 1 came from FCPO. Conclusion? The market is not a place to earn pocket money.

Will you enjoy watching something that has very bad acting and ridiculous storylines? I will. Okay, there is a TV drama that I would like to recommend to all of you here. Tune in to NTV7 at 4:30pm until 5:30pm every weekday. Basically, it is a hokkien drama from Taiwan. You don't need to able to understand hokkien to understand the drama because they have subtitles in Malay and Chinese. I am a Hokkien myself but I can only understand 30% of their hokkien due to the difference in accent and some pronounciation. This drama is a story about the vengence of 4 families, the rivalry of 4 families which is never ending and on going till the second generation. All sorts of emotions are shown in this drama , not to forget u get to view beautiful Taiwanese actresses as well.

I've lost a Starcraft 2 DVD

2010-08-19T12:14:00.000+08:00

A Starcraft 2 DVD costs about RM250.
Shorted FKLI for some pocket money and ended up delaying my purchase of Starcraft2 , losing 5 points.

Do you believe??

2010-08-19T01:14:00.000+08:00

The recent uptrend seen in the stock market is a very good experience for stock traders but very very frustrating for futures traders.When Dow is down, FKLI goes up. When Dow is up, FKLI goes up. I prefer to make money from both sides ..not only from the long side. Seriously, it can be very boring.
Let's look back in year 2005 . In year 2005, did you believe that our KLCI will break above its 1993 high?
Then when our KLCI was trading above 1500 in year 2008, did you believe that we will crash towards 800??
When we were at 800 or 900 ...or 1000 ,or 1100 or 1200,did you believe that we will reach to 1380 at this current moment???? No??Yes?
My opinion is that you bring me back to 2009, I will tell you that I never believe that our market will break above 1300. But it did happen. Seriously, I never believe that our index is trading at this level ..until today. The markets always defy beliefs and we traders are at the mercy of the market.

Okay, what do I believe? I believe that our KLCI should go down to 1150 to 1200 levels. Honestly speaking, it might go to that level or it might even defy the law of the markets to crash to 200 like in year 1998, or it might defy gravity to pump up to 2000.In my most humble opinion, I have never believed that CPO could have traded up to 4480 and because of my belief, I did not make money in the previous bull market!

The trader in me

2010-08-19T00:33:00.002+08:00

I have been blogging about patterns most of the time. When I talk about markets with people, I talk about fundamentals.
But actually, I'm just a simple robotic system trader. LOL.

2 cups at the top

2010-08-18T14:42:00.000+08:00

Hehe. A cup with a handle was formed WITHOUT a breakout because the market did not break above 2737 on continuous basis and what happened now? This cup with a handle pattern in the short term term has turned into a DOUBLE TOP pattern with a breakout to the downside!
2737 was the high. The support was seen at 2651 ( which is the current resistance ). We are targetting 2565 to take profits and turn long . My long term support is seen at 2480.

Cup with a broken handle!

2010-08-17T04:27:00.000+08:00

Kaput case lah. Bean oil was down 107 points and all my unrealized profits are going to turn into realized losses soon. Please don't follow me to cut loss because I might change my views anytime..which means, if something good happens at 10:20am , I might not exit my long position. Or what I might do is, take out the position in Oct and Nov contracts and just continue to hold that damn bloody December contract.There is no more cup with a handle pattern in CPO's short term charts so, buying above 2737 will not be a pattern trade but more of a normal breakout trade.Let me reveal the secrets here.I strongly believe in the bearish engulfing pattern and why didn't I cut loss earlier? Because the recent trade done was based on judgment and I did not have any plan to cut loss. What I was planning was to cut loss only after I evaporate all my unrealized profits.Stupid,isn't it? If we do not have a real mechanical system,we will tend to be affected by 2nd guesses! Dont get me wrong, I'm not saying that I am a lousy trader who only depends on systems...what I'm trying to say is that a mechanical system will make our life easier!My life is turned upside down...seriously. If you notice my time of blogging,it is normally around this time. I don't get enough sleep and according to science, if we don't get enough sleep,it will affect our mental performance and seriously, I dunno what should I do. I remember one of the traders in Market Wizards said that having less sleep is the price we need to pay as traders.
Anyway,what's the plan here? A normal reaction will be..........SELLING my FKLI contracts to cover my losses in CPO. Totally wrong.....but too bad, there is a big possibilitiy that I am going to do it ! LOL.
A change of strategy is needed here. All these while my big lots are in CPO ...quite less in FKLI. Even my current positions, I have more lots in CPO than in FKLI although I am trading both markets under the same account. I'm biased towards liking CPO more because I make more money in CPO but if we talk about money management , putting too much money on CPO is not a good thing because CPO as a commodity market, moves in a more D E A D L Y manner compared to equity futures like FKLI.

Let's look back about a year ago...exactly a year ago. My career in the sales line was in jeopardy because I have earned enough capital for me to make a living by trading full time in the futures market. This profession as a trader either in futures or forex is seriously no joke and is highly pressured! My sales performance was on a big downtrend despite earning more than RM 6K in that month. As a form of consolation, I spent money like drinking water because at the same time,I was making more than RM 20K in the market.August 2009 was the most defining moment of my life .that was when I decided and took the right action to be a full time trader. I have lost so many things .........................so so many things after being a full time trader but what I have gained is something that almost nothing can buy, TRADING CONFIDENCE ! I believe it is worth while and one day, if the market permits ,if there is a severe inflationary or deflationary pressure, I willl earn glory and life will be full of pleasure.

A big surprise

2010-08-17T00:09:00.000+08:00

CPO open high and close low. I am very surprised to see this happening and it looks like it was a mistake for me to increase my position in the morning. Maybe I should wait for the high of 2737 to be broken first ?? Anyway,the damage has been done and if the market continues to decline , I will exit my long position. The funny part about my current position is that I am holding long in all the 3 contracts. Haha.First time....
Oct , Nov n December.
FKLI continues to march higher targetting the upper range of 1400 and let's see what surprises the markets are going to give tomorrow.

p/s : CPO has formed a bearish engulfing candle is the daily chart marking the top of the market. Since that the trend is still up......there is still chance

How to sell online

2010-08-16T11:23:00.000+08:00

To all ladies and gentlemen out there, there is something that I would like to share. It is something that I have great interest in and basically, it is about how to sell online. Jenny How who is one of the top Malaysian bloggers will show us how to make money by being an internet marketer.If you have some free time,just drop by at ;

http://www.jennyhow.com/how-to-sell-online/

Enjoy

A good morning to all

2010-08-16T11:16:00.000+08:00

Kinda free this morning and feel like blogging something. DCE Palm Olein is up by more than 100 points but CPO is not really reacting nicely to his brother market. Basically I have added long positions in both markets. One market very near to the low,another market very near to the high.I think it's quite impressive that our KLCI is going up instead of down when most of the Asian markets are down. To all the bulls out there, let's hope for the best... the market will decide!

CPO Continuous Pattern

2010-08-13T18:13:00.000+08:00

cpo 30min

Ladies and gentlemen,I need u guys to correct me if I'm wrong because I have problem identifying this chart pattern because I only read Technical Analysis of Stock Trends, and not Encyclopedia of Chart PAtterns.Is this a valid cup with a handle?

Alright if this case is for real, a break up above the handle or the previous high which is 2737,will bring our market to another new high. According to Dan Zanger and William O Neill , this pattern is one of the strongest of all.

p/s: the cup with a handle pattern is quite new because it is founded by William O Neill, and not the original grandmaster John Magee.

More and more bearish

2010-08-12T04:05:00.000+08:00

CPO is still a very bullish market and shorting is definitely not advisable but the topic of the day is FKLI.

If you look at my previous post, I would turn bearish if FKLI trades below 1360 . It was a short term view but judging based on the current market sentiment, it seems like FKLI still has much room to go downward.

And bear in mind that Dow is once again trading below its 200 day moving average ....what does that mean?? Bear territory

Systematically,I should be still holding my long position .........but I have set my profit protection target now and if the market dips towards my short signal, I will enter with a very big position! It is time that we see a big profit in fkli after so long. Don't u think that it's boring only to make profits in CPO ??

Profit taking activities

2010-08-11T00:19:00.000+08:00

Early in the morning I hesitated to take profits after seeing 2710 being broken down because that is the first short term support. Secondly, 2695 was taken out as well and thirdly after 2686 is taken out, I took out all my positions. What we might be experiencing is the last wave bull of commodities and the first wave bear of equities. Commodities have always been the final sector to go up before the imminent crash of the stock market.
I have established my short positions in FKLI and will add position if the market breaks my long term support. If we use TIME to judge the market, ever since March 2009 there has been virtually no downtrend at all. If we use price, of course there were some corrections along the road lah.

I keep my options open for CPO but I would prefer to go long around 2550, targetting 3000-3200.

FKLI .... Just hold short till the swing / trend changes.

For all

2010-08-09T13:08:00.000+08:00

"Being powerful is like being a lady.If you have to tell people you are, you aren't." Margaret Thatcher

"The best way to sell yourself to others is first to sell others to yourself. " Napoleon Hill

Internet marketing vs word of mouth

2010-08-09T02:53:00.001+08:00

Internet marketing covers many aspects including blogging, affiliate marketing, selling stuffs online etc.Basically,it is a means to reach out to potential customers ,not only generating traffic for companies to post their ads on our website.Have a look at Ebay, Facebook and many more,what do they have in common? Actually,all these companies are websites which generate tons of traffic ...at the end of the day, whatever we learn from our so called sifu who charge us thousands of ringgit, it is all about generating traffic.
I would like to say that people nowadays are lacking creativity, most internet markets are in fact NETWORK MARKETERS. They use the internet to attract more distributors and customers ..i think this is not really an effective way in the long run. At the end, I can put my money that people will give up network marketing to earn a little bit of pocket money thru internet marketing.

Successful internet marketers are rare, just like successful speculators.I will never reveal my trading systems at any cost...yes,at any cost.So, successful internet marketers have their own secret recipe to success.It is never easy to create a successful system whether it is in internet marketing or futures trading. At the end of the way, the word of mouth is still the most powerful form of selling and marketing.
Period.

Don't be afraid of height

2010-08-07T17:41:00.001+08:00

CPO Futures is skyrocketting again defying the law of gravity while FKLI is maintaining its upward posture supported above 1360. Baltic Dry Index is recovering from its low and the sky is the limit.

I have re-established my long positions in both markets on Thursday and Friday ...as for CPO my support is seen at 2620 and then 2570. As for FKLI I will turn bearish (short term) once 1360 is broken.
Remember, the price is the leading indicator of the market. Looking at the current price trend, there is a big possibility of the 10th of August data to be extremely bullish before we see a pullback. But we are not insiders...there is also a small possiblitiy that the data might turn out bearish. Be noted that market expectations are ;
export down , production up and stock down.
The demand might not have picked up...productions are picking up but then, the stocks are down reflecting lack of supply. The recent run up in the grain market is more due to lack of supply rather than the picking up of demand.

We all know that our stock market will be lightly traded during the Ramadhan month but bear in mind that , we will also have a pre-budget rally! Not much to be gained from FKLI ...the big kahuna is still in CPO.

A holiday is needed

2010-08-04T03:55:00.000+08:00

I'm currently out of FKLI and CPO so, that makes me quite a free man. Currently,I'm only trading forex but I won't be revealing my performance. My big trades are always in the futures market unless 1 day,my forex account surpass my futures account in terms of size.It has been a while since I "escape" from KL and it has been a year since I last stepped into a dance club.Life has been dull but I don't mind because I am willing to wait so that when I enjoy, I enjoy to the fullest. A holiday is seriously needed and what I'm thinking of is going to Sarawak for a few days. The last time I've been to Sarawak was about 15 years ago ! After 15 years only I am willing to revisit this beautiful state! Call me a Katak Di Bawah Tempurung . LOL . But dont look down on me because I've been to America and Europe before.There is a huge difference between Los Angeles and San Fransisco . There is also a huge difference between Kuala Lumpur and Sarawak! 15 years ago ...... Sarawak was one of the cleanest places that I have ever been.. KL is just so dirty. But of course if u ask a Sarawakian, he will say that there is nothing special about Sarawak. I dunno about now but I'm pretty sure that Sarawak is still a very clean state.I plan to go to Sarawak before the 10 th of September.

After Sarawak, the next destiny will be Sabah and Pahang before I visit Singapore and Europe

The sky is the limit

2010-08-03T02:36:00.000+08:00

In bear markets, the bottom is the limit. In bull markets, the sky is the limit. So, to make a fortune in the market, we don't have to catch the top and bottom.All we need to do is to ride the trend. I believe CPO will have another correction coming in paving the way for a beautiful long setup. As for FKLI, just forget about it.

Comments are welcome. Please

2010-07-31T06:02:00.000+08:00

I would appreciate if whoever read this post is willing to comment .....doesn't matter whether it is nice to read or harsh to me.
My original swing position in CPO was established at around 2340 level (discretionary + mechanical signal ) and it was a small position. My big position was established at 2405 when the 3rd month contract hit my long signal at around 2420-2435 ( I forgot ). The reason why I was able to establish that big position was because I have a profitable position at a lower level.
These 2 positions carry different objectives, 1 was a swing trade another was a trend trade, But I disobeyed all my rules and took out all my positions today for a profit . I was totally not satisfied with the profits at all although the absolute amount was 5 figure.My dad always reminds me that taking profits is never wrong. Well...everyone around me was telling me that CPO is trading at a strong resistance. I also felt that way. Although the trend is UP, but minor fluctuations were making me quite emotional due to the big fluctuations in my own account. The daily volatility is equivalent to a normal executive's monthly salary.I gave up to the pressure of holding to this position and damn it , I sold at 2495 ++ !!!! I'm trying hard to convince myself that this is a right decision.Furthermore, I have indeed recovered all my losses that nearly destroyed my confidence.

As for FKLI, I have also taken out everything and I'm left with no positions at all. FKLI is just a piece of cake because I strongly believe that the bulls will not bring us far. The highest it might go should be around 1450 and if it really crashes one day,the big kahuna is caught by selling short....not going long. CPO is different because it is a commodity market ..in a commodity bull, the sky is the limit.

Well, it is still a victory afterall. The market is always there and more opportunities are waiting for me in the future.

Correction done

2010-07-30T03:25:00.000+08:00

Guys,I have corrected the figure I have posted wrongly the other way but next time, please assume that extraordinary figures are just careless mistakes. When I wrote 1240, it means 1340. When I wrote that CPO is trading at 2420 , it actually means 2520. There is actually no important purpose for me to reveal my buying or selling price because this is no longer a trading journal. It is just a personal sharing from me to all of you. It's like when people gather for a market talk , we always reveal what stocks we are holding, at what price we short CPO/FKLI etc etc.

Recently,I've been advised by many parties to take profits but I did not take any action. I know we are trading at a very stubborn resistance level but the trend is still up. I just dont want to miss anything out there. In fact, in this bull trend, I may even use up all my margin and hold for a period of a few months. Of course there will be corrections...whether it is sharp or not...long positions will be there for the long haul.

Expectations for FKLI and FCPO

2010-07-27T20:27:00.001+08:00

FKLI :
Market is trading sideways in te short term timeframe ever since it broke above 1352.5 ...ranging from 1350 to 1361. Eventually, one of the groups need to give way either for further upside or decline. Will the market go down since that it has defied fundamentals for so long and ripe for a reversal?? Will the market go up because the market is pricing in the end of deflation?? If we look at company earnings, our Malaysian market should not decline from 1500 to 800 in year 2008 . Maybe we can give a reason that America was going to collapse at that time. Now, based on technical analysis, I expect FKLI to break above 1361 anytime from now . And since that the market is still strong although lethargic, it increases the chance of us marching towards 1400 ( look at weekly chart ).
My assumptions will be wrong if the market trades below 1350

CPO :
I look at the weeky and daily trend(UP) and follow the overbought/oversold indicators in the 4hr and 1hr charts. These 2 stuffs have reached oversold conditions and needless to say,the market is poised for a resumption of a major uptrend. To confirm that I am right, the market has to break above 2535 and the next level of resistance is seen at 2700.

An uncomfortable day

2010-07-27T03:59:00.000+08:00

Yesterday was an uncomfortable day for me ....in the morning,i was uncomfortable with fkli. in the evening,i was very uncomfortable with cpo. i have added another 1 lot long position in fkli this morning because the market made new high and i saw that there were more than 200 winners and less than 50 losers in the overall market.it was at around 9:15am..i was impatient and bought almost at the high. And then, CPO was sold down in the evening ..maybe due to profit taking by traders.
As for CPO, I believe that the major uptrend is poised to resume in a day or 2. As for FKLI, with a strong closing in US , I believe we will once again witness a new high.

The moral of the story

2010-07-26T00:47:00.003+08:00

Currently positions in the market are ;
1340 ( FKLI August )
2380+ and 2405 ( CPO October )

Nothing special about the positions mentioned but here i wanna blog about something that came across my mind.

I was being told by one of my friends that an ex schoolmate went to someone and criticsed everyone and 'sold himself.' What I meant was he was boasting about how good he is and the others suck so much. The details are too much to be mentioned here and I would like to express my disagreement over some issues here.

First and forecast, I am very sensitive when people say bad about those SPM leavers. LOL. I strong disagree when people say that SPM leavers are inferior to Masters Holders ..well, I'm not going to give my points here because it will lead to a never ending arguement.

Secondly, this guy talked cock about people who are earning RM 2K ++. This is very very untrue. He said that earning 2k per month is not enough for survival nowadays. Is he out of his mind? This is totally BS ( Bull SH*T!). I have met a person who has survived for 10 years with zero income per month. I have met a person who has a debt of more than RM300K and making a 6 figure comeback within 2-3 years time( with some financial help from some people la ). In my very humble opinion, great people do not earn RM 10K(and above) and know how to spend RM 5-10K per month. Great people are people who are able to earn unlimited amount of money and at the same time know how to adapt to difficulties when he is earning nothing and STILL being able to survive. Great people are people who are able to survive although they are making RM 200-300 per month !
This thing really strike my mind because last year, after I turned full time trader, my dad offered me a job paying about RM 2K per month . This job gives me the advantage of looking at the trading account of top Malaysian traders including the market operators( EPF one of them ). But RM 2K per month ?? I was pissed off when he offered me that job because I felt that he was looking down on me. Because I respected him as a father, I did not shoot him directly but I told everyone in my family , " RM 2K which comes to about RM 1.8K per month is not a job for humans. " Coz on my mind at that time, RM 1.8K a month type of job is for dogs .
See, arrogance will not bring us forward. I regretted for saying that and also thinking like that ....... I learned everything the hard way...I started to mature up after suffering from huge losses recently ..... Life is full of opportunities and opportunities go to those who are humble .

When I started to feel that I am the God of futures, I fell down. Now I have recovered all my losses and I promise that I will not be arrogant anymore. The ultimate reason why we should stay humble is not because we want to earn more but because we will eventually come across with people who will change our lives forever. I have met this sarawakian gentleman ...a few years ago who has given me all his knowledge in trading and that is one of the key factors why I am making money in the futures market!

Strategy for this week

2010-07-25T21:23:00.000+08:00

The Asian and European markets will determine whether the stress test result was a bullish or bearish one soon.I am all ready for anything except for declines. Hehe. I have a very strong bullish bias now when FKLI has hit a 52 week high on last Friday and closed almost at the high.Dow is once again trading above the 200 day moving average marking the resumption of a bull market. Of course it can decline back to below the 200 day MA but what are the chances? My strategy would be to add long below 1360(but above 1350) which I am not very confident whether it will happen on Monday because I expect the market to gap up above 1360. My medium term target would be 1420 if there is no trend reversal but even if it reaches 1420, I will not exit all my positions. I will keep at least 1 lot . Now, in my very own opinion, if the market trades below 1350 again, the bulls should expect some corrections before going up again because that is the current resistance turned support. Any long position can be established by the risk will be 1349.5. I am still waiting for my CPO to give me more Raya angpow in weeks to come and once my profits reaches a certain level, I will use some of the profits to speculate in some speculative stocks and keep the remaining in my futures trading account.

* once again,this is not a buy or sell recommendation *

Mastery is boring!

2010-07-23T22:56:00.000+08:00

Guys ......guys ..!! guys.. .listen!
Mastery is boring. :)
If you have attended Benny Lee's course at OSK last March , he said that once you have mastered the charts, trading becomes boring. It is true.It has been about a year I have been 'staying at home' everyday chatting on msn, looking at price charts/quotes, reading financial news and sleeping. Basically, there is nothing much to do in trading ...it's a very simple process that most people made it so complicated.
I'm sure most of the guys out there play games or used to play games. When we started playing a very nice game, we become very addicted and we play a lot because we wanna learn. Once we master the game,we feel that the game is very boring and we give up playing that game. But trading is a different aspect. Trading is my passion and this love is eternal. Sometimes, I feel like wanna get a sales job for myself or maybe to join an investment bank as a broker ...but then again, sometimes I feel that I prefer the freedom I am having now. Bear in mind that this is not a true freedom because I am not rich. True freedom comes only after I achieve financial freedom which is also equivalent to personal freedom.
Meeting people , talking to different people everyday sounds quite fun to most people out there. But let me tell you again, mastery is boring. When you are a networker or a sales person (different profession,ya) , you will meet many people and talk to many many people everyday.I was once a sales person(I am still a sales person deep inside my heart)... It has reached to a stage where I am sooooooooo afraid of talking on the phone. The phone which used to be my weapon of courting girls and closing sales became something that I am so sick and tired of. As a result of that, due to my recurring activities of encountering new people everyday, I became scared of meeting and talking. I became anti social !

Whatever we do, we must do it passionately and this is the only way to cure boredom. I know it is time for me to do powerful things like deep sea diving, mountain climbing, marathon, skydiving, etc etc. Haihhhhhhh.........wait la. Wait till CPO trades at RM3000 per tonne first. LOL

Talking cock

2010-07-23T01:26:00.001+08:00

Prior to when I started this blog, I was inspired by the performance of 3 blogs. One is called Journey of a Millionaire CPO Trader. Another is called Reminiscenes of a Crude Palm Oil Trader.Another one is called The Legend of San Po. Both recorded their trades which I believe could only be achieved by magicians until mid last year. I also started my own blog which is also my trading diary and recently, after a string of serious losses, I stopped reporting my trades and started to blog nonsense. This blog has turned from a serious diary to a place where I release tension by writing craps..i hope intellectual craps though. The internet has turned into a very personal place where readers and traders take things too personally and there is a lot of criticisms around. I welcome criticisms .......sometimes I love them, sometimes I don't. Anyway, just like men thinking of sex everyday/every hour......i mean just like sex which is part of human nature, criticising people is also part of human nature. It is fun to criticise people especially we traders because we deal with tremendous amount of stress everyday ...besides that, it can be very boring to read news and charts everyday/every 30 minutes without talking nonsense. LOL.
I believe , like successful traders, successful internet marketers are very rare. I have tried internet marketing but I could not improve my blog's popularity unless ...maybe someone comes to my blog and declare war again. Well ....it is long term development that we are looking at. My last option will be selling an ebook.I have compiled various information from various e-books to put into 1 ebook ...due to human nature of procrastinating, I havent taken any steps to sell.

Ok, let's talk about the market. As we all know CPO;s volume has breached the 15k barrier again and according to a broker firm ,most volume came from market and limit orders. Not much of stop orders if I'm not mistaken. Many traders park at a lower price and got their orders done. Many traders also chased the market. But there is 1 thing which we need to be aware of. Most of the buyers are retailers which I am a bit concerned here. You know la, most retailers lose money and they are emotional ....although they are part of the entire market force. Yes, they are a force to be reckon with but then , if they get emotional , they can sell very fast and force the market to tumble. I am expecting a sharp pullback in this market but for safety reasons, I prefer to hold ALL my long positions because this might turn into an incredible bull market.

It seems like yesterday

2010-07-22T16:27:00.000+08:00

I have been holding the same position in FKLI for more than a month and the market is still not going anywhere.When the market declined below 1290, I was still a bull. When the market rallied to 1247.5,I was still a bull. Today I am still a bull.
Currently, I am looking for the support of 1300 to be broken before I turn short or else,keep holding my long position to maybe 1400 and above.

The end of a bear market

2010-07-21T02:08:00.000+08:00

Like what discussed in Alex's blog ...... I strongly believe that there is no way for us to 'determine' what type of trend will appear or what type of market condition will appear as well ....... forgive me for my opposing investment views. By being able to determine market conditions successfully, we will be what I call market forecasters ..... people who are able to predict market trends which I am actually NOT part of it. Coming back to this topic , it is always fun to discuss about market conditions and everyone ( including me ) love to predict the market. LOL!

Ok, SSEC has declined from its high of last year until recently. From about 3500 to 2300 range and that might have completed the bear market within a period of 1 year. Now, as we can also see, the Baltic Dry Index might have bottomed around this level as well and what I forsee is that we might witness a major bull market in China and also the shipping market(baltic dry index).My arguement will be the stock market is the leading indicator of the economy of a nation .....not the other way round.

As for trading perspective, I stick to momentum trading. Short or long ...... anything will do. Just follow my own rules

The mind of a millionaire

2010-07-20T13:03:00.000+08:00

We have heard people saying that they don't dream of buying luxury/performance cars. They say that cash is king. Or money is not everything. Many more.
We strive for money everyday and if we dont give the best to ourselves,what is the purpose of striving then? I believe that we need to think like millionaires before we become millionaires or else we will never achieve our dreams. The first thing to do is to believe that we can afford what we want like performance cars, a semi D/bungalow etc.

Last week I received a call from a bank agency business partner offering me a job without any basic salary but with a potential to earn about RM 5K per month. When it says 'no basic salary', it is in fact an advantage to me because they give time flexibility and I can wear anything I want.Seriously, earning that amount of money is not an issue to me but seriously, I got better things to do. I have pledged that my previous job will be my last job and if I were to look for any extra income besides from my own trading, that will not be to return to employment. I prefer to look for business opportunities ( not MLM ). Hehe.....

C'mon FKLI and CPO !!!! Go go go !

Page recommendation

2010-07-16T13:37:00.000+08:00

I would like to recommend a website to all of you specially only to those who understand Malay.

http://fazlisyam.com/

Who can understand?!

2010-07-16T04:07:00.001+08:00

The thing is this...who can understand our feelings as traders? Stock investors and futures traders are from 2 different world. I guess that to understand the feelings of a futures trader,one has to really trade futures or forex.
No wonder they said that trading is a lonely business. To be honest here, I feel that people who are close to me do not understand what I am going thru except those are who trading futures/forex themselves. I strongly believe that I will grow my equity to RM 1 million one day....but ...seriously,this year has been a farking tough year. Am I not good enough ?? Sometimes I wouldnt think that I am not good enough..sometimes I would. But then again,this year's market condition does not favour my trading style.Cut the crap.Whether anyone understands the difficulty that I am going thru or not, I shall continue with my own trading style. I buy WHEN THE MARKET IS STRONG. I FOLLOW ONLY THE PRICE ACTION. And I don't follow news! I read news but when it comes to trading, I follow entirely based on my own system.

Well well.....like I said,this year has been a tough year. Does it mean that futures trading is no longer a profitable business? Am I continueing trading because this is what I am best at? Yes and No, no and yes. I believe...that trading in the futures / forex market is the best business in the world and I am extremely proud to be a trader. I have suffered from huge drawdowns in the past and made a comeback and this time,I strongly believe that nothing is going to stop me from achieving my ambition to be a great successful trader.

I know a few traders(futures/forex) out there.......these people understand me.But no matter what, this journey is really a lonely journey. I have chosen this path and I shall go on with it.

Whether anyone understands my feelings or not, I don't care . What I know is I need to trade and trade and trade and one day, I will capture a big trend

CPO Update

2010-07-15T18:15:00.000+08:00

I have doubled my position in the October contract recently after the continuous chart triggered a long term BUY signal.

If the market develops into a real bull market trend, I will be able to bring my trading account to an uncharted territory.

If not, too bad lah. Ta pau.

Still unfortunate (FKLI)

2010-07-15T17:46:00.001+08:00

In the FKLI Daily chart, the head and shoulder formation is still valid. The market has to break above the 1352 resistance to repel the chart pattern. A breakdown below 1250 will target the next support at 1150. Anyway, the trend is still up and all the best to the bulls.

Dow is still trading below its 200 day moving average after testing the resistance twice. Let's see how it goes tonight.

I don't have to say anything about CPO anymore. LOL

CPO ALERT!

2010-07-14T14:15:00.002+08:00

CPO has broken the downtrend line in the daily chart ! A close above 2370 will negate the trendline and a close above 2380-2390 will confirm a new uptrend!

Facebook stuffs

2010-07-13T23:41:00.000+08:00

I wont be making any comparison here. Ever watched a movie called Ip Man 2? I'm sure most malaysians do.
In his final speech after defeating the boxing champion , Ip Man stated that there are many many people from different classes but one's integrity is never above the other person's. And according to buddism,everyone is equal. I have gotten my facebook friends deleting me from their lists a few times and some of them .....came to add me as friends in the past. The latest stuff is that my ex gf has deleted me from her list and this is very saddening. saddening not because i dream of her everyday but because a couple who are so closed in the past are currently now strangers. lol.
Although friendships can't last forever, at least facebook can act as a bridge that make revive the friendship. I seriously do not know what stuffs have my ex told her friends about me but then... it's not important. I won't feel bad for this type of people.
Life is like this. When a woman falls in love with you, you are the king of her heart and when she falls out of love, you r just a piece of shit.

Alright, CPO and FKLI are resuming their upward momentum and there is no doubt that FKLI is still the world's strongest market at the moment. As for CPO, if you look at the daily chart , u can see a trendline showing a downtrend from March 2010 till July 2010 and I assume that if it can break and close above 2379 tomorrow, the downtrend will be halted and a new uptrend begins. As for the weekly timeframe, the market is still a short but resistance lines are MADE TO BE BROKEN.

Back to normal

2010-07-12T18:59:00.000+08:00

The World Cup has ended in the most dramatic fashion with Spain winning the trophy for the first time in their history ! The all star team deserved the victory and some of their key players will become legends of football.
Let's put it this way.
I HAVE SEEN IT . I have witnessed one of the greatest victories in the world of sports as a 26 year old. Seriously, although a Dutch victory will go into the history books but a Spanish victory is what the world needed.
Iniesta, Xavi, Alonso, Fabregas , Pedro, Casillas and co produce one of the greatest teams of all time. Can we start comparing this team with Brazil's 1970 team which was also full of legends?
In this entire month, my life was turned upside down and most of the time I sleep at 5 am in the morning and could not wake up early to watch the market. But then again, I enjoyed the entire process of watching football with friends and getting excited once again watching football.

I would say that this is one of the best world cups that we have ever seen. Germany is fully transformed from a boring team to the finest team on earth ! Just look at their style of play. They play the defense of italy, the attacking football of Brazil, the passing of spain, the total football of Holland and finally and most importantly, they play the speed of England! Bastian Schweinsteiger became my favourite player after watching him play in this World Cup. In the next world cup, I will support Germany and Ghana all the way.

-------------------------------------------------------------------------------------------------------------

Let's get back to the market. Last 2 weeks, everyone was bearish on our stock market and a chartist was telling that a head and shoulder pattern is forming in our KLCI ( FKLI ) chart. I saw that as well but there was no breakdown. The neckline support was seen at 1250 level and if it breaks,we are targetting 1150 at least.
Earning season is around the corner so, expect the market to be volatile. Technically speaking, CPO has triggered a buy signal in the daily chart and as a technical trader, I went long. Awaiting for further strength to add more long positions

Still bullish

2010-07-09T04:42:00.000+08:00

I am still bullish on our stock market. Expect the index to retest 1350 before making new yearly highs.
As for CPO, do expect the downtrend to be completed very very soon.

1270 ?????

2010-07-06T22:58:00.001+08:00

I got a very special feeling today which happened to b totally wrong. I tot that my bull horns will be chopped off today so, I decided that I NEED to wake up early to check the market. The first thing I did was logging into yahoo and I saw SPX Futures down by 1 % and Nikkei was down more than 1 %. Normally, I would wake up at around 9 something to 10 something or even in the afternoon but since that its close to my turning point, I had to wake up. At around 8 :30am , I saw that the market was matched at 1270!! My goodness, I was kinda shocked . Then 1278. And then 1293. After the opening of the cash market ,judging from the market breath, I knew I am safe. RBA gave the world markets a boost by pushing the Australian Dollar higher after the announcement of their interest rates and we saw short covering all the way up.

Well, I believe that some people are guessing whether I am returning to employment or not. The answer is NO. Once again, the answer is NO not because I am financially strong but because I can't find any suitable job due to the fact that I have no degree. Although I have earned a 5 figure income(from employment) many many times in the past, that doesn't justify that I can produce the same amount of income if I were to return to employment. I have thought of working again but then, that will destroy the entire agenda. Let's look at it this way. A 30 point profit in FKLI can be easily obtained and if I trade 2 lots, that would be RM 3K profits which could be higher than my job income. Maybe la.The worst case scenario is to look for business opportunities, not job opportunities.I just don't want to make my bosses rich anymore. That seperates true millionaires and job seekers.

I have regained my trading confidence and once again the sky is the limit!

Coming back to the market, I believe that FKLI is still in a bullish trend while CPO should complete the downtrend within this period of not more than 2 months time. In order words, I am looking forward to go long CPO soon!

His spirit will never die

2010-07-05T05:07:00.000+08:00

About 15 years ago, I was actually a hardcore football fan and I remember I bought a tape about The Greatest Football Player Ever.Before I watched that tape, I watched how Eric Cantona, David Beckham, Bebeto and the rest play but after watching the tape, I knew who is the greatest of all time. They were comparing the 2 greatest players of all time, 1 is a complete footballer with the highest of degree of success, another 1 is an artist of the ball. Pele and Diego Maradona. It is also said that Maradona scored the goal of the century in the 1986 World Cup against England. This year, Argentina brought the spirit of Maradona together with them with the hope that they will once again lift the World Cup..unfortunately, they were outclassed by the Germans. I was at Station1 Setapak with my friends and it was not a good outing for me. Everyone was cheering for Germany and when Germany scored,everyone shouted GOALL!!!! I was helpless at that time. Actually,I'm not a fan of Argentina.I am a fan of Maradona.4-0. It was devastating for the Argentine fans....but then again,injustice always happen. Just look at Ghana as an example.

Maradona should not put all the blame on himself ......as a leader himself, we all urge him to clean up his wounds and make a comeback in 2014! Don't resign!!!

I need to write !

2010-06-28T02:50:00.000+08:00

I need to write something here because there was a significant event occurred a few hours ago. England was trashed by Germany 1-4 ! It is never a surprise and seriously, I don't understand why are there so many malaysians still supporting england. I started liking football when I was a teenager in 1996/1997. The goal that Michael Owen scored in 1998 is still in my memory. I was also once a football player. It is very common that we develop interest for England because we all watch English Premier League. We are normally fans of Manchester United and at that time, most of their players are england international. So, I also used to support England but always get disappointed at the end. Let's put it this way. In the previous 10 years ...I would say that England only had 1 player who could create magic on the field.....David Beckham. He is never a complete player but he was the best passer in the world.A few hours ago, I was banking on England to win....due to monetary issue *ahem* and also I would like to see England vs ARgentina.That would be a dream quarterfinal.

England has always been a disappointment . The previous match was a great one for Germany.I can say that the Germans really really outplayed the English.

Can't wait for th eWorld Cup to be over. Have been watching football till 4 something in the morning everyday .... and everyday, when I meet up with friends,the topic is world cup / football. The phone rings all the time talking about football.

Question : Will this World Cup help me to regain my passion for football ?? The answer is no. Now I realized that I never had a favourite team. I only had favourite players . I supported MU because of David Beckham!and not to forget that more than 5 years ago, Ryan Giggs was extremely entertaining to watch.

Measuring the volatility of both markets

2010-06-25T04:12:00.000+08:00

CPO Weekly FKLI Weekly

The Average True Range is used to measure the volatility of the market . I have plotted the 4 week ATR on the FKLI and CPO charts. The margin requirement for CPO is roughly around 4.5k to 5k while FKLI is about 3k. Doesnt matter to me anyway. Based on traditional position sizing strategy, CPO is actually 2 times larger than FKLI which means that for example, we are using RM 20K to trade 1 lot of CPO,we can actually trade 2 lots of FKLI with the same capital.
Based on the currently volatility of CPO compared with FKLI, it seems as if FKLI is the more volatile( or similar) market. 1 point (2ticks) in FKLI is equivalent to 2 points in CPO.At its highest volatility in FKLI history,based on my trend following system, RM 13-15K is enough for me to survive if I trade 1 lot. Based on CPO, I needed about RM 25k to RM 30K for 1 lot(year 2008).

So....if we were to use RM 10K to trade 1 lot of FKLI based on current volatility,we can also do the same in CPO. Since that the margin requirement is higher, maybe we can try to use about RM 12-13K to trade 1 lot in CPO.

This is only used as a guideline, no matter what the technical indicators tell, commodities are always more volatile than indices. It is a matter of time that CPO regains its volatility. In order for it to regain that, I strongly believe a bull market is needed.

Confession of an avid gambler

2010-06-23T00:56:00.000+08:00

Any better title than this?

Reminiscenes of an avid gambler?

Memoir of a futures trader?

France was defeated by South Africa hours ago. Spain was defeated by Switzerland and the list goes on. The world has changed? Anyway, the ball is round. Recently I have been extremely busy with football stuffs and I dont really watch the market anymore. One of the most critical reasons is that I am fed up. If we look through my trades on this blog, this year I am supposed to be still making some profits but in reality, I lost a little bit but as a professional trader, losing a little bit is a losing money because I depend on my trading for survival.
One of the bloggers around once said that a public diary is to show to the others our drawdowns in trading and I felt that it's important to do so. A good trader is a trader who keeps his diary. But I can't do it anymore. Things are not looking good and I don't update as early as I used to. The interest does not exist anymore and what is left now is not a stressed up heart but more of a burned out heart. I don't believe in going for holiday because the market exists in my veins.I would like to apologize that all my friends(readers) who come to my blog often that I can't go on with this diary and I will not report my trades anymore eventhough if I ever start to make big profits again.

This means that I have accepted defeat but defeat is only temporary. I am not going to stop trading as of now.
My current position is long in FKLI at 1334. My stop loss is kinda far away.... about at around 1300. Although this diary will not go on, I will still update my blog but give me time ,ya. Wait till the world cup is over and I'll be a regular blogger again.

I have set many targets to achieve in trading and this is very destructive. It leads to greed and unrealistic expectations. IF I have no expectations in trading, by today I would have achieved my goals.
This is my major mistake. My second mistake is despite Cat Owner's advice for me to focus more on forex trading, I decided to ignore his words and continue with futures and neglect forex.

Over this period of reporting my trades, I have gained respects from many people ......actually more people from the internet than real life. I have also gained some enemies ( only on the net ).
Well, I am 26 this year. I seriously NEED to become a millionaire by the age of 30. This is my dream. I dunno whether I will make it or not. But then again, lets just do it !

p/s : currently bullish on FKLI , bearish on CPO

CPO Final Trade

2010-06-23T00:43:00.001+08:00

CPO Final Trade :

Enter long at 2415. Stopped out at 2377.

Busy with world cup

2010-06-20T00:14:00.000+08:00

I'm very busy with world cup this month and this is a short update for Joe.

Currently still holding short FKLI .

Will trigger long above 1320. Give about 2-4 points filter.

Result of CPO Trade

2010-06-20T00:11:00.000+08:00

CPO Trade 11 got exited at 2410 ( August contract ) for a profit of 28 points

Total profits : -109 points

FKLI Trade 8

2010-06-14T19:41:00.002+08:00

Short FKLI at 1301.

Return to indices

2010-06-12T03:08:00.000+08:00

FKLI:

The market did trade above 1300 as expected due to strong closing of Dow on Thursday but the market failed to close above the pivotal 1300 level on Friday. Gap up failure?? Overbought situation? Whatever it is, the market seems to be more volatile than any type of market out there. Many would say that the rebound from the low of 1238 to 1308 is only a minor rebound but THE MONEY IS REAL. Volatility continues to rule the equity markets and stock indices are the place to make money. I will enter short in FKLI either on Monday or Tuesday.Stay tuned.

CPO:

The grain market has been very quiet recently with little volatility and nothing else. CPO is considered as a grain market as well because it is a competitor of soybean oil. Look at soybean oil...going nowhere with little volume . Whatever it is, it is still a downward biased market. CPO has finally broken below the double top support and confirmation would be 2% below 2393. If the market continues to be weak on Monday, then we would see the market testing the psychological 2000 level. If break 2000, we might even see the market retesting 1800 or 1500. Let's not predict and stick the the market direction.

Alright..let's compare which market offers better trading opportunities. I would say FKLI would be the better bet! 1 point of CPO is 1/2 point of FKLI. 1 lot of CPO is 2 lots of FKLI.

I don't expect much profits from the market recently. Let the nature take its course. And of course....SHORTING is the preferred trade!

Expectation for FKLI

2010-06-11T02:55:00.000+08:00

As of writing Dow is up more than 200 points and I expect FKLI to trade above 1300 in the next trading session. Things are getting more and more interesting here because I have been bearish since 1320 and still bearish at this moment. If the market rallies to 1310, it should provide me with an excellent shorting opportunity.I think I can't get any price better than that.
My mechanical system is still calling for a short ...and besides that, technical indicators like stochastic in the daily and 4hour charts are pointing up towards the overbought levels. It should happen soon.

It has been a pleasure to stay out of this market which has been going up as a bear.
My bet would be FKLI to reach 1150 before 1360.

The World Cup

2010-06-09T10:53:00.000+08:00

The world cup is coming soon and traditionally, the market goes down. In the last world cup, our KLCI declined about 90 points which was equivalent to about 10 %. If this were to happen this time, we might see our KLCI declining to the level of 1190. All these are just speculations and we speculators should just position ourselves(either long or short) and let the market decide.

Meanwhile, this would be a good time to patronize mamak stalls to watch football and I wish that England will lose again in the quarterfinals! Haha

Quote of the year

2010-06-08T03:36:00.000+08:00

" Sex is part of relationship although relationship might not be part of sex. "
Author anonymous.

LOL! I know who is the person who came out with that phrase but I dunno whether he wants his name to be mentioned here. This is a very creative quote by this gentleman and it will bury in my mind for a very long period of time.

Anyone here knows Billy Kuek from Singapore? I have attended his talk before years ago and he said something that I can't forget as well....

" We must live life with passion because we were born from moments of passion. "

CPO Trade 11

2010-06-08T03:31:00.000+08:00

CPO Trade11 : Enter short at 2438.

Result of CPO Trade 10 : Exit long at 2437.
A loss of 43 points

Total profits : - 136points

Frustration to the maximum

2010-06-04T01:11:00.000+08:00

Let's evaluate the entire year's performance.

http://futuresresult.blogspot.com/

March was indeed a profitable month.
April and May are " no eye see. "

If I were to stick 100% on my trend system, I would be making some losses in CPO but my actual performance up to date so far in this year is still positive.

And if I were to stick on my swing system in FKLI, that swing system would have brought me to heaven in January and February but as my equity grew bigger, I would be betting bigger in April and May...... and that would result in the annihilation of my trading account.

If I follow trend systems in this year, I would only be a survivor in the market and so far, this is not a fruitful year.

Let's make it simple as ABC.

I can only tolerate 1 more loss in CPO and I will change my strategy to a long term trend following strategy in the future. As for FKLI, I have decided to use very 'slow' system. The market has no mercy and many traders can't survive. For me to survive, I have to evolve and choose a method that has stood the test of time ( 15 years at least ).

CPO Trade 11

2010-06-04T00:47:00.000+08:00

Exit short at 2480.
A loss of 35points.

Enter long at 2480.

Total profits : - 93 points

Bouncing ball theory???

2010-06-02T02:48:00.000+08:00

Let's look at the CPO market.
A great bull market in year 2007 followed by a great bear market in year 2008,followed by a technical rebound in year 2009 and now a correction downwards. We are seeing further decline in volatility in this CPO market with its average true range reaching about 30-40 points per day only.
I dont know whether we are going into a real quiet market ahead ..or the market will burst into activity very soon.
This is when a long term system comes in handy. A long term trading method is suitable for all market conditions and I should view this quiet trading environment as something positive. The lower the volatility, the lower the risk...of course the rewards are lower as well.

When rewards are lower, I would call this as 'tough times.' But tough times don't last...tough people do. My time has not come to shine yet and ....... just like a woman ever waiting for his Mr Right to come ... I am ever waiting for big volatile trends to come.

CPO Trade 10

2010-05-31T22:26:00.002+08:00

Result of CPO Trade 9 : Exit short at 2437.

A loss of : 39 points.

CPO Trade 10 : Enter short at 2445

Total profits : - 58 points

The end of financial year !

2010-05-29T05:01:00.000+08:00

I have ended my financial year 2009/2010 because I began my journey as a winning trader in June 2009 and so far, my trading performance has been quite not bad. I wouldn't say that my performance is truly phenomenal but I should be contented with its overall results. This year's market is not really my forte due to its sideways characteristics. Last year's market was great! Like what we all know in Buddism, nothing is permanent. Trending markets don't last forever, sideways markets don't last forever as well. Good times don't last forever and same goes to bad times.
Afterall, I need to be contented with my results as a trader and also a sales person. The fact is this, I have never survived on a salary of more than RM 600 since the year 2005 after I left Standard Chartered. All my income are derived from commissions and profits in the markets since April 2009. I have faced my greatest fear which is to survive without having to rely on any job ...I have faced my worst trading drawdowns which was in the month of XXX 2009 and I have proven to myself time to time that I am a survivor in the market.

I know if I continue to produce the profits that I have produced in the past for at least 4 more years, I will create a track record that enables me to work for one of the biggest investment banks in the world. This might just be a dream because if I can really produce great returns in the market, I do not need a job anymore eventhough if that is my dream job ( working for Goldman Sachs ).

-----------------------------------------------------------------------------------------------------------
The month of April and May were a tiring one for me. Zero profits and some 'major' losses in CPO. In actual reality, I have recovered all my FKLI losses for the month of April till recent although I did not report in my trading journal ( I shorted June at 1320.5 and covered on last Friday ). Now is left for me to recover my CPO losses. I need to have the patience this time as the market condition does not favour me at all. Maybe 2011 will be a better year than 2010.

By the way, I have put a temporary stop to my forex trading as I would prefer to concentrate on futures. I will make a full force return to FX in the month of September. Stay tuned. So long as FKLI does not reach 1100,I will never return to the stock market

Happy Wesak Day to all

2010-05-28T15:57:00.002+08:00

Today is a public holiday in Malaysia and also the anniversary of Gotama Buddha's enlightenment. I wish everyone a Happy Wesak Day and may the light of wisdom shines into your life.

To quote the Buddha,

"Do not believe in anything simply because you have heard it. Do not believe in anything simply because it is spoken and rumored by many. Do not believe in anything simply because it is found written in your religious books. Do not believe in anything merely on the authority of your teachers and elders. Do not believe in traditions because they have been handed down for many generations. But after observation and analysis, when you find that anything agrees with reason and is conducive to the good and benefit of one and all, then accept it and live up to it."

Kalama Sutra

According to Buddism, there are millions of Buddhas in all dimensions and our teacher is Sakyamuni Buddha and most Buddists around the world salute the 3 famous Buddhas, Sakyamuni (our teacher), Amitabha and our The Healing Buddha. All Buddhas teach the same doctrines which is the Dhamma. When Sakyamuni realizes the 4 Noble Truth in his meditation under the Bodhi Tree , he attained enlightenment and became a Buddha. In the teachings of the Buddha, all living beings are equal, ....the hungry ghosts, ants , tigers, dogs, birds, angels, demons etc becaue of all us have a Buddha nature in us and ignorance ( ignorance of the 4 noble truths) is what covered our Buddhahood ( enligtenment ).
Many people have read the 4 noble truths but not many truly understand and practise.
Besides the 4 noble truths, there are 3 facts stated by the Buddha which is not understood by many Buddhists and the 3 facts are ;

1 : Everything is subjected to impermanence.
2 : There is no God
3 : There is no self

I was once a buddist but not anymore.....currently i am a free thinker but a believer in buddism. A believer and a true buddist is different. Buddism is not about worshipping the Buddhas and Boddisatvas but about leading a good life. To me, achieving monetary wealth is my most important mission .

p/s : This post is written originally by me and only the Kalama Sutra was copied from a website

CPO Trade 9

2010-05-28T15:49:00.002+08:00

Result of CPO Trade 8 : Exit short at 2476.
A loss of : 26 points

CPO Trade 9 : Enter long at 2476

Total profits : - 19 points

Result of FKLI Trade 7

2010-05-28T15:48:00.000+08:00

Exit short at 1266.5

A loss of 14 points

Total profits : -29 points

FKLI Trade 7

2010-05-26T16:31:00.002+08:00

Enter short at 1252.5 ( June )

Holiday! I also need a holiday now.... kena heart attack.. :(

2010-05-26T00:02:00.007+08:00

OMG!... Now market dropping like cirit birit, as a futures trader now taking holiday??? SO CUTE!!
To OUR HERO WINNER, how come u never short FKLI? why go to long CPO?! hey bro, even u short at 1290 last week... u still can make about 50 points today! how come u never take any action?... oh ya!! i totally forget, maybe that time RSI already show OVERSOLD, so u not dare to short... hey bro winner... i already abandon and never use RSI since 7 years ago... RSI totally useless.... or maybe u just want "BUY and HOLD" in current market?? or buy low sell high? or u want take holiday until October then buy a lot stock that time and sell all during February 2011 (b4 CNY)??.. so funny la u...

TO ENCIK HERO WINNER, pls la... don't too lanci with ur 5 years+ LIMITED "edition" trading experience la... for me, u still a newbird in this HUGE industry... pls humble and learn more la... learn something from Mr. Someone Axxx Kxx la..

p/s: if u so pro in short term or swing trading... better go trade forex la... malaysia market is not suitable for WINNER/HERO like u... Malaysia market only suitable for noob and loser player like Zaclim... lol

I live for this KAHUNA

2010-05-25T22:42:00.001+08:00

Recently, I'm sure that you guys know that there is a new blog created and that blogger has attacked me since the inception of the blog.
Sell in May and go away? He claims that he is a winner and now he wants to go for a holiday. Maybe he is old and needs to enjoy his life. Sell in May and go for holiday applies only to the stock trader. A futures trader should capitalise on this opportunity to make money from a falling market. As a trend follower myself, I live for this kahuna !
My message to him,
" You catch many small fishes but I caught the big kahuna! " Anyway,to post my statement here is not possible as I was just kidding with him and it seems like he thought it's for real. Unless he wants me to help him to manage his millions of rupiah,then I wouldnt mind to show.

To Winer ( so called Winner ),
You read my blog so often and when I post questions asking for advice, you tend to ignore. I was asking you about my positions in FKLI vs your positions in CPO. Can't you answer a simple question?? Vin Diesel in The fast and furious once said, Victory is victory, whether it is by a mile or an inch. Maybe you are a winner by an inch . Maybe you are just a 20 points profit type of CPO speculator. 20 points is so easy for me to obtain in CPO,dude! :) I may have lost many trades but to be a millionaire WITH A STARTING CAPITAL of RM 10 K ....... I realize that I only need to win major battles ( trades )!

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I respect all traders including day traders and short term traders as I have learned a lot from them but I give no respect to arrogant traders who believe that they are heroes of bull markets or hero of sideways markets.

Winer / Winner or Whiner ?? Stay tune for tonite's update

2010-05-25T16:47:00.000+08:00

Whiner, do stay up late tonite to see my latest update. I receive my statement in the wee hours or if you mind yesterday's statement I can show up here earlier tonight.

I would like to get your advice whether your long in CPO and my short in FKLI .........which is better??
Which is the bigger wave ???

Feel sour ?? Feel like wasting time??

Btw, did you get burn by buying FKLI recently?? lol .

Winners admit their losses and are proud of their losses while losers hide their losses(in real numbers).

FKLI Result of Trade 6

2010-05-23T21:33:00.000+08:00

Exit short at 1290.

Profit : + 20 points

Total profits : - 15 points

Note : Actually I am still holding short in June contract but I wouldn't want to report because that is would make my reported profits to soar. I will re-enter short positions in FKLI on the rebound. Technical resistance is seen at 1300

A magical approach

2010-05-23T14:49:00.000+08:00

Just the above picture and see the contents.
Before that , can I tell everything that I took profits at around 1270 on last Friday?
Why don't I make the figure sounds like 1260? Ya,around there la.

The picture above is what a winner cum loser claim that he took his profits around 1309. He might be saying it might be around 1310 or 1311. First of all, when the market gapped down in the afternoon below 1300 on last Thursday, the price rebounded but NEVER TOUCH 1309. It's ok if we tell people the market has reached around 1300 but when it comes to real positions, a trader will definitely remember the price . Unless he has bad memory and easily forgetting things which are even 1 day before.

This guy acts like a magician and a magician loves to create illusions for people to see that those illusions are real. In fact, they are not.
1309 was never touched on Thursday and please do not claim that you took profits 'around' 1309. I suggest the blogger to delete that particular post.

It doesnt matter whether that blogger has an public identity...what I know is that blogger is a human with an identity and I would love to teach him a lesson about way of life.

Deleveraging process

2010-05-22T03:25:00.000+08:00

A friend of mine asked me to visit one of the unknown blogs around whose owner loves to brag about his winnings in the futures market. Well, I told my friend that I am not interested to read n if he wants to share anything,he can always come to my blog. Recently, I went to check out and I feel that his blog is quite interesting.

He reminds me of many traders who there who love to brag when they win and when they lose, they sort of like give excuses. To them ,the word " I am wrong " does not exist in their dictionary. I would like to discuss about one of his investment principles. Its goes like this.

Losers follow the herds and winners dare to defy the herds.

Now ,always remember that in FKLI , 50% of the volume come from the retailers . Institutions contribute lesser volume. The crowd is PRIMITIVE but they are strong. Do not fight against the crowd. I know of many futures traders who lose their money because they go against the herd. The crowd psychology represents the trend of the market. When the crowd is bearish, the market goes down.When the crowd is bullish, the market goes up.
To know when to follow the crowd and when to defy the crowd is the hallmark of a successful trader.In my opinion, buy low and sell high does not really work in the futures market because those who buy at the low and sell at the high are those who manipulate/operate the markets.If you ask me whether I can make money buying low and selling high, I would say that I can but there is a possibility that I might have a series of drawdowns before I can the major reversal.

To me, a successful trader is a person who is straightforward when it comes to his profits and losses. There is no point bragging about how much he makes in a trade ...... I only respect those who admit how much he loses in a trade.

I give one example. A friend of mine told me that Petra Bhd will test RM 4.00 again. He has been talking about it for quite some time and fundamentals and technical are pointing to a higher price. At the end, he averaged his profits by 'contra-ing' at the HIGH around RM 1.7 something. Have a look at Petra now. He doesn't admit that it is a mistake to buy at that price. The trade at 1.7 something was meant to be a short term trade but due to the fact that the market went against him, he held those stocks for the long haul.

Super high accuracy and super high profits traders are either liars or magicians. I would like to meet magicians one day.

Alright,I am in the process of deleveraging my trades because of some setbacks in my CPO trades. I have exited all my positions in May FKLI n currently only holding my June short. The price of my June short is at 1320.5 but I did not reveal out in my trading diary because the profits earned ( in points ) will be unrealistically high. In actual fact, I have also shorted at 1330something, the same price Winner went long. Is there anything to brag about? I dont think so. Maybe he knew that I was going to short at that price so, he gave me the chance by buying some contracts from me.

Who will win??

2010-05-21T13:27:00.000+08:00

The chart never lies and according what I have seen, I would assume that the European Union has intervened the forex market by supporting higher yielding currencies and shorting the Yen and USD.

Will they win this intervention war?

Only time will tell. I hope that fundamentals will overrule government interventions.

Kencana Daily Chart

2010-05-20T14:01:00.000+08:00

Kencana Daily Chart

A company with strong fundamentals. Some bearish news just came out recently but here we are to study the trend of the stock.
It is clearly on a downtrend and potential supports are seen in the chart. RM 1.00 is a good price to enter long. For the time being, just stay out.

FKLI Reversal Pattern

2010-05-19T19:01:00.002+08:00

FKLI Daily

FKLI has formed a head and shoulder pattern with a critical support seen at 1300. That is where the neckline is seen and not forgetting the 100 day moving average as well. Besides that 1300 is a psychological support for the market.

If the market can successfully break and close below 1300, I can confirm that the bears are safe and can ride the wave downward.

First target : 1250.

Second target : None, hold till trend changes

The 200 day moving average

2010-05-18T10:41:00.002+08:00

Note : CPO is trading at the 200 day moving average support .

Let's see if there is a breakdown

Talk cock la

2010-05-18T04:24:00.000+08:00

One of the key reasons why I am a full time trader is because I don't want to work. Behind this particular reason is that I have no more chance to "make money" selling banking products to the public. In the past,when we submit 10 credit cards or unsecured loan products, we will get a 50% approval rate...during the good times,up to even 60-70%.Malaysians continue to utilize their credit cards and the debts that we have accumulated is in billions of ringgit. I have forgotten the amount and I dont want to speculate because it is an extremely big amount that might be able to buy up 50% of our entire KLSE.

Our government claims that the strong ringgit is the reflection of strong fundamentals of our nation. Well, I dont think so. The banks are not willing to lend out to people....and also to business owners. Businesses suffer while we witness a super bull run in the stock market. This is seriously a sad case. The entire economy is not doing well. Foreign investors would rather invest in Indonesia than Malaysia. When banks are not willing to take risks, it means that our consumer spending is low. According to statistics , only 2% of MAlaysians have the ability to earn RM 20K per month ........... haih...... don't you think it is so sad ?? Our KLCI should be trading at 500 points rather than 1330! Imagine year 1993, we were trading at 1330 and everyone was celebrating with their high income. Now, eat shit got lah.

I have seen so many things ...... I have met and talked to so many business owners who fail in their businesses. I have talked to many people who have strong personal finance.....My father has been in the stock market for more than 30 years and he would agree with my views as well. Sooner or later,we Malaysia are going to fall because we lack competitiveness. It is just a matter of time that our stock market will reflect its Malaysian economy ( which is extremely bad ! ) ......and I urge everyone not to fall into the trap of SMART MONEY to buy stocks because I believe the main reason why our market is not falling yet is because our market operators have not fully distributed their stocks. Let them get trap at the top of the market ,let them push our market up until nobody is willing to buy ...let them lose money and cause our ringgit to weaken again.

Extreme divergence

2010-05-18T03:56:00.000+08:00

I didnt do my calculation but what I know is that Shanghai has been trending down for weeks already. The previous high made in year 2009 was at about 3500 levels and yesterday it closed at 2559. Dow has not even corrected 10 % (based on closing basis) from its high. Now I believe that there is a serious imbalance going on in this financial market. The US is fighting against deflation and the Chinese are fighting against inflation. Deficits and surplus of accounts ......the gap is growing wider and wider. The Europeans are in debt crisis while the Chinese got excess liquidity. Previously,when we see Dow collapsing about 2%, Asian markets will follow and so do the European markets the next day but now we do not have this sort of consensus anymore. Dow can go down, Asia goes down but Europe can go up. Or the other way round. I have been monitoring the markets for so many years and until today, I still scratch my head while watching the market. At the end of the day, I believe it is wiser to stick to technical analysis rather than to understand the complexity of the markets.

Nothing is more fascinating than how our KLCI holds up against selling pressure and maintain its uptrend! Super bull ??? One day, we are going to crash harder than anybody else just like what we have seen in the currency crisis in year 1997 and 1998 political crisis !!

Result of FX Trade 6

2010-05-18T03:45:00.001+08:00

Short UJ at 92.140. Close with a loss of 31.2pips.

Total profits : + 441.8pips

FX Trade 6

2010-05-17T11:58:00.000+08:00

Short UJ at 92.140.

Note : I'm currently holding an unrealized profit of about 30 pips as of now. I am anticipating for a sudden surge of the Japanese Yen in tandem with a massive collapse in world stock markets.