"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Wednesday, May 12, 2010

12 May, Aud/Usd, Eur/Usd - My Best Trade So Far

Today is the day i stick to my system. Today is the day emotions did not meddle with trade. Most importantly, today is the day it hit my pre-set profit-target. The combination of these three in a single trade, gives me an incredible sense of satisfaction. Something i have longed for after all these times. Ok la come on man, seems like its just the words are magnifying the performance, lol.

AUD/USD

Browsing through my usual pairs (skipping the yen due to superstitions and phobia). Aud/Usd looks promising, with the downtrend (top red line) 1H chart. Hoping to hit a bounce i shorted 2x size, with a 30pips stop loss set, right above the trend line. take-profit at 35pips, which serves my risk:reward focus this month with a close to a 1:1. wanted to put further, but then it looks more like a support area at the 35 tp area (the zone where the line is).


EUR/USD

As for the Eur/Usd, i entered only after the bull candle (bull candle?) closes, i don't know how to tell you, but based on the momentum, that the bull just doesnt seem that promising. I short the euro with 20pips stop-loss, 40 pips take-profit, with a 1:2 risk. 1x size.

I was quite occupied thru the night, as part of my plan not to meddle with it, i only glance my positions once in a while. I only sneak peak of how the two trades goes:

first it went +8, +13

then 0, 0

then -23, -15 (here is usually the part i panic, either adding averaging losses or close, but i try to take it, because after all this setup is base on good risk-reward ratio, i take this smaller lose, but the nextime i win it will be good)

then it went 1, 4

then 15, 24 (this is another part, where similarly, emotions come into play. how how how? close and take the deal? or wait further? wait my unrealise profit gone how?? nevertheless, i left it alone.)

then it went back to -2, 0. OH GAWD! well, there's nothing i can do about it.

at this period of time u should be wondering if i was really only taking sneak peak once in a while, or more frequent than the 5M candlestick closes.

The next moment, after i finish watching a latest news here in Singapore, sadly to say, about a teenage youth hitting his own classmate in the lift, very violently. This is sad and crazy.

Before i re-collected my thoughts on teenage violence, my Euro trade has closed with t-p. Shortly, my Aussie trade joined in the happy ending. I wish every trade is like that. we cant control where the price go after we enter a position, but we have to control ourselves. I may have profited, but the greater satisfaction came from sticking to my plan. Even if i had lost, if i had stick to my plan, i guess i wouldnt feel that bad, afterall. That is if my revenge monster doesnt come into play.

+74 pips.

Black.

3 comments:

daytrader233 said...

Well done Black!

Bottle said...

Beautiful bro.. Beautiful, feels f***ing good eh??? Ur bday coming soon, its double happiness man!! Ha! Keep it up!!

Black said...

Thanks DT, good to see u back in action!

My bro bottle! Thank u! yes its good. This probably my last trade for the week, will be out to enjoy. Let me know where we should party, any fellow traders who wants to join in the fun this weekend feel free!

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