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.
Black.
2 comments:
Congratz man, though IMO it's not healthy adding losers in the long run.
Thanks De'Trader, u r right. Learning to avoid it from now on..
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