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

Tuesday, October 25, 2011

Stop Your Itchy Ass

My previous post Eur/Usd order did not get triggered. As for Aud/Usd order, I have to say it was a classic example of a noob mistake once again. Using Daily chart... here is what happened..

Day 1: Trade triggered and went up in my favor..

Day 2: Trade retraces to -90 pips.. ten pips away from my stop/loss.. but I did not get stopped..

Day 3: Trade went up +120 pips.. still a hundred pips away from my take-profit.. prefer to stick to my system..

Day 4: Trade went down to +60.. got worried.. went to adjust my take-profit to +100 pips..as I thought to myself I should have closed it then... also adjusted my stop/loss to -20pips...

Day 5 morning: stop/loss hit.. -20pips

Day 8: see chart..

...my very first original +200 pips profit would have been hit, plus my very first original stop/loss wouldn't have been hit either. This is what we call backside itchy.

Buying and selling is so easy. But to master the technique of such to profitably is a totally different story. It drive one to nuts. I remember those days when me and Bottle executed our very first trade at the same time scream I AM A FOREX TRADER!! WOOO!! Lol.....you know what I mean.

Had a short scalp off Xau/Usd. Very dangerous move:

..what my take-profit hit was only half of the movement.. though it retraces back up soon after. 

Currently in Eur/Usd trade... I should have my buy-stop on above the resistance around 1.3970. Instead I got in at previous high 1.3950... and it never went back up. It does went up a while just that it just keep getting knocked back down. Chart:

..an obvious heavy resistance.

My Gbp/Usd trade.. also having a hard time breaking up 1.6000:

Taking a longer swing trades. Keep you guys posted.

As for poker, had bad swings past two days. *warning rantings on bad beats ahead*

Hand 1:
Me: AK
Flop: AKQ

Guy A raises 5bb, Guy B raises 25bb, I reraises all-in.
Guy A calls, Guy B fold.

Guy A turn over QQ.

Hand 2:
Me: KK
All-in and opponent flopped an ace.

Hand 3:
Me: JJ
All-in and opponent hit straight on river.

Hand 4:
Me: AA (finally)
Check-called all the way and shoved on river.

Board: Q 7 5 T 2

Guy turn over QQ.

I took most of the above less personally than I would have had previous (smashing window slamming mouse). The last hand on AA really had me. I just took a walk outside the hallway and take in deep breaths. No more violence. It doesn't solve anything I realised.

I came back after cooling off to play a heads-up match SNG. Man, was the longest session I ever had (not sex) from 10/20blinds to 80/160. More than 100 hands lol. Big swings. I could have finish him off once or twice but didn't, when he called my nuts. One thing that I do not master is whether all-in (seems like over-betting) when you have the nuts, or let him call a very justifiable pot-odds? Because you might end up winning nothing when you shove and he folds. Wasn't my day though when I jammed Turn with 13 outs and loss.

Anyway I am still in trade now US session is opening. Good luck to your trading / at the tables!


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