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

Friday, December 2, 2011

November Review

FXDD: Withdrawn
Oanda: +17%
Poker: Busto! (have re-deposit)

November passed by really quickly. I had losing streak starting of the month, and slowly fought my way back. I still maintain a non-scalping mode, where I simply set my orders and leave the chart. I also learn about not messing too much with the trade when they have not hit your stop/loss or take-profit, I still meddle though but reduced. Leaving trades over night no longer bother me as much as used to be.

I am currently using a very comfortable position size, increased a little. I will continue to increase when my capital grow a little more. In fact I did increase early this month but the moment I increased I faced losses thats why I reduced them again lol so typical. I maintain a stop/loss of about maximum 5% of my account, because I don't want a huge drawdowns again. Even successful traders move up the ladder with a little lost here and there. I am still working on my risk:reward ratio.

Highlight of the month was probably the last week of the month, with a big reaped off Aud/Usd +480 pips, my highest record ever (still much lower than my record loss hehe). That trade I have also cultivated a good risk:reward ratio, letting the profit run feels really good. Admittedly, there was one position I did close early, but was compensated early this week with a few Longs.

I learn how I should swing the trades and not sit down and bust my account, my temper get blown up easily. So I am not gonna trade the NFP news tonight. Some people prefer scalp, some swing, some intraday, and some position. It is finding out who you are. I kinda know the answer for me, but being a profitable trader is still another story.

That leads me to think about my poker journey. I was still thinking early last month whether I should simply focus on full-ring cash games, sit & gos (STT & MTT), or heads-up SNG.

I have bad results with cash games, but played them because they are fastest way to earn VIP points for bonuses. My time for sit & gos are limited because you can't leave the table whenever you want. I have been doing good with heads-up SNG and has shown profit. I love it and my buddy (who plays with me) also feel I should simply focus on heads-up.

And then I realised otherwise. I have a e-mail pen-pal friend (who read this blog) told me heads-up are like scalping trading. I thought I could conquer it but ALAS, I have bad beats and I keep on registering for new tourney (HU-SNG) and even highest buy-ins and I play badly due to tilting, much like revenge trading.

I got crushed in cash games either. Playing too much table and bad beats made me re-buy n re-buy and throw the money into the pot, fastest way to drawdown in poker IMO.

Now I am turning to Sit & Gos and not multi-tabling, not touching the rest (HU-SNG & FR Cash games). So if I got beaten I may not be so tempted to re-buy because they are more tiring games. I working on it now. For past two days I simply played the Sit & Gos, finishing a few of them right before the money finishes -_-. But on the other hand, it shows some improvements. My last two games of 45 men SNG came in 3rd & 7th.

Lets take it nice and slow from here, tilty head.

Anyway, have a good weekend people.


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