Thursday, January 23, 2014

FCPO: Here Comes The Retracemennt 23th Jan 2014

Thursday, 23th Jan 2014. Palm oil futures went down for the first time after gaining up for four session straight amid constant weakness on Soy oil this week. Other news to follow.

"- U.S. stocks closed mostly higher on Wednesday after trading in a narrow range for most of the session. Markets shrugged off mostly disappointing earnings, but results from IBMIBM +0.22% weighed on the blue chips. TheDow Jones Industrial Average DJIA -0.25%closed 40.58 points, or 0.3%, lower at 16,373.86, falling for the second day in a row. The S&P 500 SPX +0.06% finished the day up 1.07 points, or 0.1%, to 1,844.87. The NasdaqComposite COMP +0.41% was the best performing index, gaining 17.24 points, or 0.4%, to 4,243.00, its highest level since July 17, 2000. The tech-heavy index gained in five out of last six trading days and is the only measure with year-to-date gains."

"-  Japanese stocks advanced in early Thursday trading, with tech shares enjoying gains after a modest fall in the yen overnight. The Nikkei Stock Average JP:NIK +0.57% rose 0.4% to 15,890.26. Hong Kong stocks extended the previous day's gains early Wednesday, as investors awaited initial results of HSBC's Chinese manufacturing survey, due Thursday. The Hang Seng Index HK:HSI +0.21% edged higher by 0.2% to 23,078.31."

"- Demand for natural gas spiked on Wednesday in the wake of another winter storm on the East Coast, rallying futures prices for natural gas to their highest close in more than 2 1/2 years. Oil futures climbed toward $97 a barrel to score their highest settlement of the year so far. as investors awaited upcoming U.S. crude inventory data and weighed the impact of the startup of TransCanada’s Gulf Coast Pipeline. Crude oil for March delivery CLH4 -0.11% , which became the front-month contract after February crude oil expired on Tuesday, advanced $1.76, or 1.9%, to settle at $96.73 a barrel on the New York Mercantile Exchange. The expired February contract settled at $94.99, up 0.7%, on Tuesday."

FCPO- How Low You Can Go For Long Positions ?

I think I would want to do something different for this write up today, let me officially welcome you to the year of horse. For my side of story, broking business is getting tougher and tougher each passing day due to broker price war. There are broker house that offer rock bottom rate for end users like you out there if you know where to look. My offer rate would not be identical compared to them but not far away. Everything can be arrange and  rate can be slow talk if you have the volume to back it up. End users want to have everything good about to talk about, free platform, free research, free strategies, free trading ideas, free lunch and significant increase on ROE with capital protected from the broker. Ohh boy, what is this community has become. A stand alone broker has to continuously innovate, else he/she will lose out to the competition. A niche is what I am talking about, a special tool or product that others cannot copy, a thing that make you stand out. In this case, there is none other I can think of would be getting good at what you are doing, trading day in and out from the financial market. Getting good at what you are doing means doing it over and over again with countless improvisation, countless hour in order to getting good at it. But unfortunately, less and less people know that your equity can get hurt or gain at the same time dealing with risk day in and out. You as a trader knows better what is like to have a bad day or good day and so forth. It is a bad omen for the equity performance as a bad day puts a massive mark reduction to your face. Well, that is what I and other traders are dealing with everyday. It is part and parcel of a profession as a trader in financial market. Would you know that for yourself ? Would you have your own bad day ?
Alright, back to CPO futures market outlook. The benchmark month for April contract closed lower yesterday after it rose to two weeks high around 2,597. By this moment you would notice some Bearish divergence on hourly chart and the next question would be how low this retracement could go ? It is everyone guessing, but that is not the point here. What is matter to you is your trigger price, or the level for you to act when the price does go there. Other than that, just sit tight if the price or volume or certain indicator did not hit the criteria for you to act. This part is also known as "pulling the trigger with due diligence according to your strategies or system." That would be the correct way to benchmark your score trading in financial market. If a trader would operate above 90% efficiency according to their system / plan / strategies, success will likely follow. In other words, being able to operate efficiently is the key to have positive result on your equity performance, period. Do not focus so much on how much you can get the money, focus on how you can trade efficiently according to your tailored plan. That, for me is 1000% more important than getting certain profit in the market.
I wish all the combatants "good luck" and good hunting in the year of horse, 2014.

Daily Pivot Point
R2= 2612
R1= 2593
S1= 2559
S2= 2544
 Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.


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