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

Thursday, January 13, 2011

Aud/Usd - Big Swinging Dick

I quote the post title from Michael Lewis's book - Liar's Poker, a very entertaining read. Had quite a swing on Aud/Usd passed two days. I had total of 6 trades running concurrently on this pair, both on Oanda & FXDD. My first mistake in going in this pair is entering before the trade balance announcement on Tuesday morning. I was down -100pips within two hours.

I averaged-in two more positions at a better price, in another words, average-losers. Price went down close to my stop/loss at 0.98, but did not hit it luckily. Tuesday night I entered using my MetaTrader with two orders, buy limit at support, and another buy stop, three positions shown below.

I closed my position this morning before the aussie employment announcement, where price dip and recovered shortly. I am satisfied with these trades, managed to recouped my losses I tilted on Tuesday night, and had more than expected gains.

As for my Oanda account, my three open trades were closed this morning too. I am not sure they will continue to rally after much gains yesterday. This is the firstime I have such a blessing to be able to recoup my losses so I need to take trading more seriously from now on and not to tilt like Tuesday night. If I try what I did that night, I'm sure it will happen again, so the main thing now is not to kill that revenge monster in me, but perhaps, I should try to avoid it.

This is quite a risky trade, if it had turned against me I would have massive margin call, but also a great earning I made so far in my trading experience. Six positions were closed at profits.

+411 pips.

In terms of value, almost half of them were losses made on the previous tilt.



De'Trader said...

Congratz man, though IMO it's not healthy adding losers in the long run.

Black said...

Thanks De'Trader, u r right. Learning to avoid it from now on..

Related Posts Plugin for WordPress, Blogger...