Went in Long on Gold XAU/USD two days back at 1.638.xx, hold overnight till 1.654.xx for about 100usd profit. But profits are short-lived, when I entered a 1.08 buy-limit into Aud/Usd. Adding on to losers and losers, now I'm holding out to about -200 pips loss. I had the chance to break-even all my Aussie trades this morning before going to work, but greed had me and I leave it there. It went 100 pips down before lunch. Another 100 pips down this evening. Well, cutting that gold trade at 1.654 and letting this aussie trade run, is a very good example of a cutting profit, and letting losses run - a truly opposite way of a profitable trader.
Sigh, things couldn't be worst. Shares dropped due to the train crashes in China, because I bought a manufacturer companies share that supply them the materials. It was a whopping drop. I had profits in the first two weeks until this accident happens. There is no what-if in such a unpredictable occurrence.
Poker was another red. I go multi-tabling again and account was near to busting. I think I am still not up to the standard of multi-tabling. I should focus on one first and start from basics. Learn the opponents and be patient for good cards. The problem is I hear about so much pro-grinder 20-tabling etc. and they play only premium cards. I thought that was that. But there are more in poker than merely holding and playing the premium cards. My cash-games profitable days were like one or two out of ten days. It sucks and demoralizing. It pushes me to the limit of giving up. But no, I guess there are much to learn, just like trading.
I don't know why I am not cutting out my aussie trade and subconsciously hoping for a miracle. Tomorrow is non-farm payroll. I have no plans but to get a drink.
Don't try these at home..
5 comments:
At least you got out of your Gold position before it dropped $40 in two hours...
exactly, thanks Adam.. its time for me to have proper plan instead of always gambling my way in trading..
I used to multi-table quite a bit and you can't expect the same profit level. It's because you can't give as much of your focus to each of your opponents (I liked six-player tables, and played on average 6-8 at a time. So divide the amount of attention every player gets by ~8).
For a while I even used tracking software to help me keep track of who did what and when. It gave me each player's current stats and prior stats (if I had played them before). That helped, but it is still a balancing act.
Also, I played profitable single table poker (and tournament poker) before I started multi-tabling it. A lot of the movements you do, you have to have not just memorized, but _ingrained_ in your mind. Otherwise you won't have enough time.
http://greenleaftrader.blogspot.com
Thats true, at my stage I seriously don't know what is going on when multi-tabling except only playing premium cards but I think thats not enough. "Ingrained" in the mind is the word, I need to focus on single table first and instead of just trying to play as many hands as possible. Past two days of single tabling was fine. Thank you for sharing, anyway I have added you into my blog list. Good luck with trading ! :)
Thanks for the link (: And I always love talking poker! Markets, too!
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