Jack of all Trades, or Master of One?

I use Grammarly's plagiarism checker because I like to know the fact that I'm unique, no one is trying to be me, and it improves my writing for my readers' readability.

After last year's trading here and there, I have stopped forex trading for quite a long while. Partly due to the reason that I have busted my account, and my wedding proposal in April which added a doggy into our family (proposal gift for my wife), and then my 12 hrs job, which leads 12 hrs in a day working, 6 hrs sleep, 3 hrs taking care of the dog, and the remaining to job hunting. I can't explain how much I'm dying to leave the first trading firm.

my dog.

Finally after so much interviews, I landed into another trading firm, where people there appreciates work-life balance, and great opportunity to learn. And my wedding preparation began then, for my big day in mid-December. Blink of eye, I'm a married man. Our house key collection date was 31-December-2013, and now we're busy with the renovations and stuff.

 pic from HDB wiki.

In my country, many couples apply for a HDB flat first before the guy's proposal, which leads to women in my country complaining we're unromantic. (Because applying a flat together means both must be married by key collection date!) I admit the fact though, but what to do, we have to wait about 4 years for the flat to be ready after the application. By the time men in my country serve 2 years of national service (military) and then join the work forces, and by the time we save enough money to propose and then apply a flat, we would be 30+ by the time when the flat is ready.

 pic from mothership.sg

Even for my case, after my wedding and renovation, my savings will be *WHAM*.. back to ZERO. Property here costs about $300K SGD, for a 4-room flat 92sqm. Don't tell me about how much your country's property cost to make me feel depressed, don't tell me about how much your country's vehicle cost to make me feel upset. My wife and I planned for a very very basic renovation because we're hoping not to borrow renovation loan, and all in all still costs nearly $30K including furnitures, HMmmm.. where do we find the money...

So we gamble.

Two new casinos here in Singapore? No, I don't got the balls and capital to pay $100 levy for every entry. If they are so restrictive about local going to casino, they should do like South Korea do, ban the locals from going in COMPLETELY! I believe there are so much trouble brought to us than the economic benefits the casino has brought to us.

I gamble with them in another way, though. I bought Genting SP shares last year, I held for a year before selling them. Gaining about 10% of my capital invested in it. I have to say I am a lucky ass because the share plummeted right after my exit.

Yes, I have stopped forex but trading shares instead because of time commitment. Trading requires time to monitor but investing in shares does not require that much of a screen time. The time I used to use for screen time now becomes daily dog-walking routine haha. It is my responsibility but it really brings joy to the home.

I recently applied for an IPO and balloted two lot of shares for OUE Comm REIT. Not going anywhere but holding for long-term.

My latest paper win now is Suntec REIT (Real Estate Investment Trust).. currently up about 7.8% profit.

I have stopped forex due to time commitment but my appetite to gain financial freedom do not stop. I am not closing my forex account and just looking for good opportunity for a come-back, after my home renovation. And probably starting my own business after that. A come-back like in poker, which I now takes it casually. But do we still need to do all these if we're earning quite adequately in our full time job, like many of my friends do?

Great run this afternoon though.

To be a jack of all trades, or a master of one?

Black.

Just another post to remind myself

Not sure if its just me or it happen to everyone else...

Ok this is a story of the difference between what i want, what i expect and what will actually happen. Or rather, a little true story of greed and fear.

I believe most of us would have read stuff like having a system, or a set of rules to follow strictly to, be it online or books we grab off bookstore shelves... Yes, im just like the majority of self learning traders-wannabe out there.. i came out with a system that (i hope) suits to my style of trading.

Imma skip the part whereby we came up with that signal entry and exit thing. We all have our own different way of entry and exits. What im actually want to talk about... is the part where we set the stoploss and take profit level.

So generally, we all have a certain percentage of our account that we are willing to lose and also... not to mention, the best part.. the part where we plan how much we can rip from this trade. That is the profit part.
Ideally, profit should be bigger than the loss. We read stuff like 1:2 or at least a 1:1.5.. worst to worst... 1:1.. right? Well logically thinking, we wouldnt want to have our risk of loss higher than that of profit. Very safe i would say. Because that is what i am doing.

So there we are, entering a trade when the entry signal came, we try to set the parameters for SL and TP.

Subconsciously, i will have in mind where i want my TP to be... We all know that our system will give us an exit, like the last peak? Or at one of the major resistance level? But what if these level doesnt rip u the amount of pips you want? It could be like 10pips away to your ideal ratio of 1:2... Greed perhaps.. i will sometimes set my TP at the level where I WANT.. L O L... As im typing now, i know it is stupid... but in the midst of making that decision during trading... Emotions come in.

So well sometime my greed pays off.. but usually, there isnt any good ending.. HA HA

Not only did greed affects my decision. sometimes fear also makes me set my TP at safe level. So the ending is of cause, wasteful. I will waste a chunk of the profit due to my bad decision to be safe and not go for more. Amateur mistakes.

As for SL, discipline and past bad experience tells me that i should just set it at a point where its the amount of loss that im willing to risk. Simple as that.

Fortunately, that was the past me.. It seldom happen now. Occasionally i still have the itch to.. you know, get back to old self.

If you did what i did, and still doing what i did... You are not alone............ I know that feel bro. Keep resisting the temptation yea?

"This is John Connor. If you are listening to this,you are the RESISTANCE."


Regards,
Bottle

Black to Work

Just started my new job this week, am feeling really glad. So sudden as it was quite an immediate position, in a local securities firm, which I am quite happy. Although I am not working as a trader or remisier like that, but handling backend processes of equities. Hope to learn as much as possible and then we'll see. So far so good.

Will be trading and blogging less from now as learning curve is steep and I need to adjust my sleeping time earlier instead of 3am during unemployed days. Though if I happen to learn to trade some shares in the future I might be posting them up too.

Gd luck people on your trading, this blog is not dead yet we'll be back any moment!

Black.

Chicken Pox, Poker & Trading

It's been a month! So fast. Just a quick update on what's up with us. I am still jobless, spending hours every day job searching but outta luck (sad). I been on poker bug once again for the past month. I withdrawn most of my bankroll out of stars and left a bit for leisure grinding. But I still got stuck, busto and decided for the firstime in my poker career to go on a infinite hiatus. 

I been neglecting this site, trading and Bottle for some time.. leaving the lone spartan fighting against the armies of Xerxes himself. We still catch up every week, Bottle and I, he is still actively trading, but I caught chicken pox a week back and had been stuck at home miserably. Yeah, what an age to get infected. I'm sure most of you don't even remember the time when you had it. I've seen the western doctor and they gave me anti-viral pills and didn't mention about not eating anything. 

My mum, on the other hand, is a classic eastern style believer. During my days of infection, she said I was not allowed to eat chicken, beans, nuts, egg (yolks), and seafood!

Not sure how closely I obeyed, but I just tried. Can't wait to go to seafood buffet soon.

Anyway regarding poker, I think spreading my focus between trading and poker is not working out. Poker, recently to me has been tedious experience. Making it short and simply, the joy of winning could no longer compensate the pain of losing. When that happens, that's when I think it's time to move on from certain venture.

I have neglected many books and I am going to catch up with them too. We have recently stopped Diablo 3 for a while, but will be bringing ourselves back together soon. I have decided to take these time clearing my books. Some have already grown mold before I even started reading. Recently found an app TED.com, they have it on android and iOS devices, on many insightful talks from experts of many fields. Very interesting.

Finally break my losing streak (8 straight losses) with a very small win. Nevertheless, still a win. Booking a small win during losing streak is a necessity to slowly build back your confidence and focus. I have to admit the previous trades were reckless. There are many habits of me that does not fit a trader, I'm sure I'm not alone, and that is what we are trying to change.

And that habit, comes from your mind. Whatever you punch into your keyboard, the words, the lot size, your take-profit and stop-loss, whatever you think the market is doing, comes from your mind. You think you should execute the trade now, you think you should book the win, cut the loss, the let loss run (familiar) because closing it means surrendering and admitting your defeat.

From my experiences of trading, gambling or poker (there are similarities and difference between them in certain aspect though), trying to win every single hand/trades (battle) ironically, causes the (overall) defeat in our war. I am a very good example. 

Previously, I can't go to bed with a loss (sometimes even now). I don't stop trading until I have a win. And 8 out of 10 times I drag even more losses trying to do it. And ironically, the 2 out of 10 times you succeed in trying so, spells the doom to your next trades. Because you think that since you succeed in trying to force a win, you can do it again. And every 10 times you do it, you will fail most of the time trying to do it, but your mind keeps flashing back to that only few times you succeeded. So you keep doing it, still. Just like a lottery.

As I always have the [loser] habit of abandoning my trade journal during losing streak, I now plan to write more regularly and simply add into the comment section of myfxbook.com for every single trades. I still love the detailed and service myfxbook provides and its free. I'm not endorsing it, but I think it provides more extensive information than any brokers' statement themselves. Usually for such service in the poker industry costs you money. 

It's Friday now, last trading day of the week. Good luck if you're trading, if not, happy weekend!

Black

Crazy Week

Ok where do i start... Crazy week as a title sounds more like having alot of fun during that week... Doing crazy stuff you never imagined before and totally enjoy it. But no, not for me...

Almost every trade this week goes AWAY from me, followed my setups but keep hitting stop losses... And those setups that i missed(cos of work or other commitments), travel nicely to TP(had i spot the setup and went in trade). This is crazy, all the stop losses are hit within the next 2 candles while i used to wait for TPs to be hit overnight. Looks like all long thick juicy candles that came up this week are all intended to stop me out.

This is madness, i experienced this shit before, yes.. But this week's is much worst. EVERY SINGLE TRADE. Feel so lost, where did i go wrong... Luck? Timing? I know that no setup guarantees a 100% hit. But what are the chances that i got in all the losing ones and missed out all the winning ones?? hmmmmmm i suspect someone put a curse on me.. But a curse that can move the market against me?? hhmMMmmmm.... Doubt so...

Hopes shattered... Confidence rock bottom, went underground and reach the core of the earth. ArghhhhhhHHHhhH MY PRECIOUSSSSSSSSSSSssssssssssssssssssssss....

F*** it.. im gg to sleep.. not gg to look at the f***ing chart. fcukkucufhdfufkcckufckkcufkcfcufck

Faith put to the test



Bottle

A New Post After Release.

Yes, released from the grasp of Diablo 3. No jail or rehab whatsoever. Im no criminal, am no addict... Addicted to trading yes but...... Anyway~~~

Like Black mentioned earlier, we were consumed by Diablo3. As expected. Havent been able to squeeze time for blogging amidst the tradings gamings and working. Its crazy how this game grips so tightly on 2 full grown male adults of the human species, causing them to be seated in from of their computers for 10s of hours a day. We were never old. We can still game like hardcores. Well, its not like this game is really that fantastic anyway.. Actually we are both quite disappointed by some aspects of this game.. It could be that we waited this game for more than a decade, we are so attached ot it.

Alright enough of the game already. Initially before the release of the game, i had visualized myself getting so hooked up by it that im gg to lessen or neglect trading so much. Surprisingly no... mayb for the first few days after the game release, yes. But there after, i have been trading as per normal. The amount of trades i made a day(provided there is a setup) remains the same.

I wonder to myself, why? Spent sometime thinking about it as well. I just cant take my mind off the chart during weekdays(even when im gaming). As for my previous post on gaming to provide a good distraction from my trading, it really worked. When there is no setup, i get back into my game and never looked back. Same goes for entering a trade. But at least with the game, i wont be so looking forward to weekdays during my weekends like i used to. It keeps my mind occupied. Subconciously, the goal of being successful in trading.. the freedom that it can offer kills everything else in the path...

^^^^^MY TRADING DESIRE ^^^^^

^^^^^MY GAMES & OTHER HOBBIES THAT KEEPS MY MIND OFF TRADING^^^^^


Well, having said that... it maybe helpful to you or you or him or she or it who have the same problem as me in or out of trades. Try to find a hobby or something that can take your mind off trading for abit. Whenever there is no setup, simply dive into that thing you love doing. It may help get you out of some unplanned bad trades, unplanned or impulse exits. I've tried it first hand. LOL. It kinda works.

Trading have been relatively well lately, still trying to achieve Nirvana in trading. Ignores the losses and winners. As long as i stick to my setup, i shall see GREEN!!!!

GOODLUCK TRADING FOLKS!!!

1% inspiration, 99%perspiration.
Bottle

Monday! YayYYyY

O its Sunday... Monday finally... I know i sounded wrong, but i shall no longer deny that ever since i started trading, im looking forward more to weekdays than weekends. Or should i put it this way, weekdays aint that dreadful as it used to be. The problem is, i can only say it out LOUD here in this blog.. because i believe i am not the only one feeling this way. Try telling that white collar guy at your bus stop on a blue Monday morning.

If you still dont get what i mean.. Well, market's opennn on MOndayYYyYY.... All the excitements bla bla bla..
I guess they are right, passion/interest is really important.

O and one more thing! Black and I are so looking forward to the release of DIABLO 3!! HOLYyyYYy..... and we have already pre ordered our copies of it already. Mine? I got it for free... my girlfriend bought it for me. She doesnt know anything about games, but she know im so into it, she decided to buy it for me.. So sweeeeeeet. But she have NO IDEA what she got herself into....

So true...~~ Im so dead if she reads this. MUaHAHahHAHHAaAAHHA~~

Anyway, WTF has DIABLO 3 gotta do with Forex Trading? Of cause it does, did i mentioned before that gaming is one of the few ways i find very effective against emotional trading? At least to me though. It takes my mind off trading, it keeps me disciplined enough to follow through my trades.

Going into game right after i entered trade (after setting my SL n TP), prevents me from looking at the chart too much.Just imagine the emotional stress of looking at prices going up and down. Hence, the trade will be safe from early exits or profit taking. Or when setups are not triggered, i can remove my eyes from the chart and prevent myself from entering trades just because i got the urge to do so. Gaming gives me distractions, in a right way.

2 more weeeekkksssssss................................................................

Which cHar to uSe which ChAr ??? which WHicHH whIChhHH?????
Bottle

The Lack Of Sleep. True Story.

Above image is a reply to Black's earlier post. Its a true story. LOL. I'm envious of Black's life now. Admire his courage to try to achieve it. Me on the other hand, is always thinking of going the same path, but afraid of being financially insecure. Thats the thing yea? We all have our dreams, but how many of us are willing to risk it all to pursue it?

Nonetheless, my time will come! Sooner or later.. But i'll make sure my daytrading days will be more exciting than just waking up and doing same thing all over! I promise to have a haircut every now and then to avoid having urchin's hair.. LOL

Anyway, some thoughts that i would like to share.. its one thing that i think all traders, at some point of their journey faced.. be it pro traders, wannabes, going to bes, greens, reds... bla bla. Any category! THE LACK OF SLEEP!


Not sure about u, but i remember days when i went in position and targets are not hit within certain period of time and is forced to put it overnight... every now and then in the middle of the night, woke up and check hows my trade going.. No matter how sleepy i am, i will still be able to get myself focus and check out my trade. SURPRISINGLY. Its like 3am or 4am in the morning. And i gotta wake up @ 7am for work later on.

Or going into the night with a floating loss position? Waking up every hour to check if my trade came back to green zone... I even dreamt (TELL ME I'M NOT ALONE!) of my postion hitting target profit! Only to wake up and see -23RED on my screen... F*ccCCCkKAAaAAAAAA!!!

How bout sticking your eyes to the screen and waiting for that perfect set up that u have planned since a few hours ago. Watch watch watch and watch the price into the late nights..
Its quite bad for me as my laptop is just right beside my bed. I've also got my forex app on my iphone4. It just makes things worst, i wake up every now and then to check out my trade thru my phone. So convenient! =D

Nights and nights of praying to as many gods as i can think of in front of my laptop/iphone4 in the middle of the night 3am! Now i that i mention it, i must have looked so stupid... Hurhurhurhur...

Recently came by an article on this issue, the lack of sleep. And how important it is. I believe we can google and find many useful informations about it. The benefits and stuff like that. But its this one article that caught my attention. Ranjan Das, CEO and MD of SAP Indian subcontinent. (Click on his name for the link on the article.)

He is a high flyer, he got almost everything we wish for. A good career, loads of money.. dreams bla bla bla.. you name it and most probably he got it. He is still young @ 42 years old.. most probably he still got so much that he wants to do. So much to look forward to, so much things he wanna see, would like to go... bla bla bla.. He worked hard for it and now its time to enjoy the fruit of his success,but its all taken away from him in an instant. Life's cruelty. Truely feels sad for him and his family.

We can have all the material things that we want in life. But what are these without our good health to enjoy it? Life is short, yes. Life is unpredictable too. We never know whats gonna happen tommorrow. Dare to pursue our dreams but not at the expense of our health and those who care for us. So now, if you slept less than 6 hours. Please go get some now. AND! try to hit your daily quota of 6-7 hours of sleep yea..

Else, WE WILL DINE! IN HELL!!!!!!!!

Bottle

Just Random - Full Time Trader/Poker

Ok, after some "bad beats" last week, I took a break away from the chart until Wednesday before hitting the poker tables n chart again.

I think the break serves well because last week I just kept trying and then i made things worst, and then I felt worst when the losing streak persisted. I am currently on trades too but im posting this from iPad in starbucks probably another day for charts.

I am currently unemployed, not depending on poker n trading yet of course, still looking around for a full time job. Finally got called up for an interview this week and it was smooth. I hope for a follow up call. In the meantime, during my unemployed days, I experienced the feeling of being a full time trader / poker player.

It is true that u feel wondrous without the need to wake up and report to work a specific time, the need to show ur boss ur in the office doing work n sending emails. You are ur own boss, u do what u wan u knock off anytime u want.

But everything got its good and bad side. When u r not a consistent winner like me, u dont have a pay day. Although i barely spend money like i did when i had a job (expensive lunches and after-work hang out), other than monthly fixed expenses, it can be scary. I had winning months in Jan n Feb but a March losing streak could tear everything down.

I stopped shaving regularly, stopped going to my regular barber (only go downstairs for a cheap quick cut, where my head now looks like sea urchin) n I stopped talking much about latest news around the world like in the office. But all the above could just be personal habits lolllll.

My routine has been, wake up when im done sleeping (obv), put anything on and go downstairs for a quick meal, or cereal. Then I fire a few tables in pokerstars n started grinding. For abt 3-4 hours when im feeling tired or the tables not looking good, I'll take a break and then wait for the London opening at 3pm, while reading up updates on the market. If no opportunity for trades, I would close the chart n probably wait around until New York session at 9pm after dinner. Else I would be reading some trading/poker books. TV has been a stranger to me since years back. Sometimes I sat down at the couch n barely know how to switch to a particular channel.

My stakes r currently not enough to feed 3 meals a day, let alone the lack in consistency. So I think I still got much to learn n probably work for and save for a more realistic capital.

Bottle n I met every Tuesday n Thursday for the past few weeks for Black Bottle's weekly meeting. Yeah right, we didnt pass our physical test and have to go back to camp for training twice a week. We are all soldiers here in Singapore. If there were a war our economy would be hit hard probably becuz all the engineers, doctors, businessmen etc would have to put on their helmet n die for the country. Thats why we have to keep fit and take yearly proficiency tests. First time I didnt pass... So FFFUUUUUUUU.

Anyway, its good to maintain physical training be it working or unemployed.

Just some random thoughts this post, time to embrace the weekend! Gd luck n enjoy!

Does it remind you of yourself? Just for laugh....

Or is it just me??? =(


Bottle

When EVERYTHING doesnt go your way.

Guess its really hard to "grow" out of this shit. EVERYTHING just goes wrong..
The feeling of "the market is watching u and doing everything against u" is here again... For fuck sake, this is like the countless times this month.. and its like only halfway through.

Have u ever been through times when u studied the chart and went SHORT, some analyst says should LONG. Result : Stoploss. Nevermind, i may have overlooked something here. Let it be.

Next trade, studied the chart again and went LONG, some analyst says should LONG. O yea, finally someone agrees with me. Result : Stoploss. Nevermind, the analyst suck and i suck too.

Third trade, same... studied the chart again, went LONG, some analyst says go LONG. O yea, once again im not alone... Result : Stoploss. Fuck.........

Fourth trade, still focused... studied the chart, went SHORT, same old "some analyst" say should go LONG. Result : Stoploss. .................



WHAT THE FUCK EVERYTHING I DO IS WRONG!!!!


Yea now its trending these faces... so im just going along. BUT!!! That is really how i felt when this kinda shit happens. HAVE THE GODS NO MERCY????!!!!

On top of all these, i've been following my "system" for a couple of trades. 4 trades to be exact. I got whipped, with 2 stoploss hit and 2 breakeven. Then comes the 5th one that i missed out due to work commitment. IS THE ONE THAT HITS TP IF I TRADED!!

Once again......



There is more, trust me... but i shall not taint this blog with my negativity. There is still hope. Have faith!


Bottle

3 Months into 2012

3 months into 2012 already! Time really flies, we r nearing the predicted 12122012 end of the world. LOL. I wonder if that day really is the end of the world, how would the guy who just strike 10million dollars lottery feels, Prize Collection Date : 12/12/2012. Or that kid who slog 3years of his life n finally gets to graduate. Graduation day - 12/12/2012. Sucks for sure.

Anyway, these few months my account has been like a roller coaster ride, as usual. Up n down up n down n im still at square one. I wonder if its just me, i always felt that i will make it someday and becomes a full fledge trader! HAHA! Even when trades hit stop loss, i felt like i've learned something from it and as long as i doesnt repeat it, i will reach my goal sooner or later. But unfortunately, it seems rather abit late. =~( What if the day i really achieve my goal is the same day that guy strike his lottery n that kid graduating?? LOL

Some trades i did recently, quite interesting though, is on DOUBLE ZEROES as support and resistance. Scalping 10 to 15 pips at a time during not so violatile hours on smaller timeframes. Areas like 1.3400 and 1.3300. Glad i didnt trade during Bernake's speech. His is like the voice of the emperor. One word one cough or one fart and the whole market shooks with it. Pretty scary what one man can do eh? Its best to shut ur pc and sleep when these important figures are giving speech.

Best of luck to all of u out there!

Bottle
Be happy with what we have. Nothing feels better than being satisfied.

Don't Listen to Analysts!

Trading for more than 2 years now, repeatedly tell myself (even reminded by Bottle) that we should trade based on what we see and analyzed, not on analysts' rumors. Sick that after all these while I'm still committing such a disciplinary mistake.

Yesterday's trade (US session) I only took a slight look at the chart. And then I followed an analysts' mere comment and traded that. WHAMP! Stop/loss-ed. If you make a trade on your own and loss, it doesn't feel that bad (theory was also thought in a book I read: Reminiscence of a Stock Operator).

Another reason why we should not rely too much on others as it reminds me of the Elephant and the Blind Men story. Market is like the Elephant and we are the blind men. We experienced different part and perspective of the market and we have our own opinions. At every moment, there is people longing or shorting any single pairs. All have their own perspectives.

Even this blog and how I traded are merely what I myself see and are advised not to follow. Maybe the one thing you can learn from this blog is things you should not do! 

Eur/usd: -50 pips

Usd/chf: -65 pips

Black.

2011 Review - Plus Usd/Chf & Poker Wiped Out

Forex

Kinda early? I decide to wrap this up because tomorrow night I am flying away to Harbin, China, for a week trip. It is going to be freezing cold I heard.. about -20 deg celsius. On top of that, my Usd/Chf trades have finally hit the stop loss.

After Usd/Chf broke the ten-month high last week, I made a fruitful ride up the pair for about 175 pips (closed), I also long a second position on retrace which was peaked at +50 over pips. But overconfidence and greed caused me this huge drawdown.. in addition to my bad habit of averaging losers. 

I was so confident with the trades that when I was switching between my chart and news.. right before the SNB announcement about 30 minutes.. my second position was down to about break-even. Then I went in a third position, after another alt-tab between chart, both positions were instantly -50 -60 floating loss.

Jaw-dropping.

Brutal.

Disbelieved, I later long another position stubbornly when price looks like it will hold. But it didn't.

It went on for days and all the way until today, giving me hope but false hope. The initial broken 0.9350 level of ten month high resistance turned support didn't hold. The slow and steady fall and rise a little these few days by this pair feels like some one who is trying to kill you, pushes the knife slowly into your stomach instead of stabbing right in it. Slowly, and gently. And before you know it, JAMMED IT IN.

Trading: Year-to-date profit/loss: +30% (loss count of pips, probably -2000 plus) 

First year of profit since I live traded in 2009.

I have an account for myfxbook which Trader32 recommends, my nick is black147. Don't know the add-friend function and not sure if it exists.

Early part of the year, trading hasn't been much active due to work and exams. I did have major drawdown twice, in March and in August, both occur within each day. After my come back in October, things has been going pretty smooth except for my last trade in Usd/Chf. Oh well, shit happens.

Like what FX used to tell me, trading skills doesn't happen overnight or monthly, it takes years to realise. And this year, I am glad to finally found my trading style. Not completely I guess but somehow. I can't scalp, I can't position trade. I have to do intra-day to medium term swing trades. I can't sit at the chart for hours because any losses will tilt me and I will bust my account within one night like I did countless times.

Next up, I will need to focus on my discipline (again), on my risk:reward ratio, tendency to widen stop/losses, averaging losers, and over confidence and more.. Before this Usd/Chf drawdown, for the past two months I kept my stop/losses within what my account can take, about 2-4%, so that in case it hit the stop/loss, I don't take it that hard. I need to work on that. I will come back 2012 focusing on trading and reading up more, as well as working on discipline.. why not poker.. which comes to the next topic..

Poker

I been on it for about 1.5 years now. I am not sure how long usually profitable poker players took to be profitable. So far in my experience, profitable players are profitable, losing players are losers, they stay that way.

Yesterday, I busted my account once again. Past two weeks, I was reading up and working on 6-max online. I had HUD installed and was utilising it well. I maxed two-tabling, and focused on my game. Finally in my cash game career, I am grinding out profits for 6-max. I was happy.

Yesterday, I sat down and played my second session of the day. Within one hour, I was dealt 4 pocket aces.

First one, I raises 3bb and was called. I valued bet all the way and was called down and opponent hit a river flush. Well, I may be didn't bet enough to drive him out, but I thought I was value-betting?

Second aces, all folded to me except SB who called my preflop raise and folded to my c-bet. Earned a little.

Third aces, I raised 4bb and sb called me and hit a deuces set on flop. Oh well, stacked again.

Before my fourth pocket aces, I was dealt A4. Except first player who folded, all 4 other players limped and I raised to 7bb from SB, trying out a different aggression. Only the cut-off called.

Flop came 9 2 5.

I raised 15bb, he called.

To my delight, turn came 3, giving me a straight.

I raised 25bb and he re-raised me all in.

I put him on a set and he turned over 4 6 for a higher straight.

Welcome to micro-stakes.

Ultimate tilted, as always I went over the low stakes table, CAP (cap meaning only cap maximum bet).  I played tight and only planned to go all-in with premiums, like almost every other players were doing.

There was a lady who called down and all-in a lot. With a hud stats of about 50/20/60. Too loose.

Finally from BB I was holding my fourth ACES of the night. She raised me from SB to 3bb I re-raised to 6 bb.

Flop came T 9 7. She shoved me on the flop. I called, and she turned over J 9.

River J. She scooped the pot.

I am not sure how to go about from here because I think I have tried my best. I have spent a considerable sum (of money and time) for the past 1.5 years, and I am really feeling this is it. Looking over to my poker books gives a chill down my spine now. My cousin is a profitable poker player who earns my yearly pay and haven't read a single book. He even became the last standing Singapore player during yesterday's Sunday Million. He was so close to winning and so many of us were rooting for him to win, but he was busted with KK vs AA during the last 150 out of 61,000 over entrants. Sad for him, but it was such a deep run.

I am going to take a break and focus on my trading first. Take poker as casual play and I am still finding ways not to tilt (like in trading) and accept variance. Or looking for the most suitable game for my playing style. But will all be casual, or may be not at all.

Year-to-date profit/loss: BUSTED

Tomorrow night I will be flying off and my next post will probably be in 2012.

Good luck to y'all and have a great winter break!

Black.
Off to my first white Christmas~

Reality of life.

The day we smash our head into the wall together. Hand in hand.

Bottle

Hold'em Graph & Recent Trading

Going tighter & aggressive style. I been 6-tabling recently and playing a better ABC poker than my previously fanciful and loose style that ripped my bankroll very quickly. I find that multi-tabling makes me play tighter and lesser range of hands because good hands comes at a higher frequency, instead of single tabling where you may have to wait for so many hands before a playable one arrives.

I give myself a pause on HU-SNG & only play occasional MTTs. My bankroll is still "ranging" and I hope to go uphill soon for once.

Trading has been pretty bad lately. Been on losing streaks and on small wins. Some times I just meddle with the trades, and then regret where it should have reached take-profit, some times I regret not meddling with my trades because it went to stop-loss, and the cycle keeps on and on.

Look at the beautiful downtrend of Aud/Usd, where price resisted off 50 SMA continously. I have two long positions on-going. I am going to leave it for now. Yesterday I just cut my Eur/Usd at -30pips before it turn around and move towards my take-profit.

Will be withdrawing my remaining funds in FXDD and focus on my Oanda. FXDD has been fine, but my under-capitalised account are of no use and there is no MetaTrader available for my iMac. Oanda has an office here in Singapore and support are much convenient, even in terms of funding & withdrawing.

Happy Thanksgiving people and enjoy the weekend! Good luck!

Black.

ZOMG! Day

Had calculated stop-loss in my first trade, which was 70 pips away, 2% of my account.

Struggling its way up to my take-profit, a brutal London session sent Gbp/Usd about 150 pips down.

-70 pips, and then average down -70 pips, and another average down -70 pips.

*deep breath*

Having no edge against the market is not as deadly as an uncontrolled tilt.

I am going to watch the TV and have some cookies n' cream ice cream for the night.

Like in a snake and ladder game - "Go Back to Start".

Black.

October Review & Why I Can't Scalp

FXDD: -12%
Oanda: +12%
Poker: b/e

The account size between FXDD & Oanda is quite different. I thought about withdrawing from my FXDD funds and put into my Oanda, but what makes me stay put is the fixed spread FXDD provides even during news trade. But I can't download MetaTrader into my iMac anymore, so it is still hard for me to trade through the iPad.

Overall, the first half of the month was inactive. Most of my actions were very last two weeks of the month. I hope to keep the focus and maintain. Will still be using the same position size for my trades until I can move up further. I have also decided (countless times) to keep an excel for my monthly profit & loss, for all the above.

While calculating my October profit & loss, I was browsing through my year-to-date Oanda transaction history, and I learned something about myself. I can't scalp or take short-term trades, nor can I position trade. What worked best for me so far has been between intra-day trade to swing trade. Here is why I have to place my orders and walk away (not in the cafe):

Started the year with good grinds. It was consistent and I was up about 20%. During March, my capital was -30% or more in ONE night. Sitting down there firing n firing n firing trades like playing Strikers 1945 the more you press the better. Until one big super revenge trade that made a lucky come back.

Cooling period came and then I come back n started trading in June. I grind my way up again slowly and even reached the greenery! Until August, everything busto my account met another -20% tear-down.. in ONE night.

As for why I can't position trade, I think I can't step away from watching my trade progresses. If my trade is 200 pips away from take-profit, I will be watching the price at every thought of it. Very paranoid if you ask me.

Going forward, I hope I am not currently at the middle of my yearly vicious cycle and see another November ONE NIGHT BUSTO again (touch WOOD). Mid-November I will be out of job. So I will have so much time to trade & blog.

Meanwhile, you can take a look at a nice article by fxmadness.

Happy Halloween!

Black.

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.

*kaput*

Hand 2:

Me: KK

All-in and opponent flopped an ace.

*kaput*

Hand 3:

Me: JJ

All-in and opponent hit straight on river.

*kaput*

Hand 4:

Me: AA (finally)

Check-called all the way and shoved on river.

Board: Q 7 5 T 2

Guy turn over QQ.

*kaput*

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!

Black.

Short Update, Stock Broker?

Was doing fine in my poker heads-up SNG, until (I don't know why) I went into heads-up cash games and get owned like nobody business. I think I'm too afraid to bet unlike in SNGs. Restarting my profits from scratch.. so much like trading.

Bought Eur/Usd @ 1.3990.

It's going down now and looking bad for me.

Recently completed my studies and looking around for jobs. I applied a job on Equities Dealer Trainee.. wish to work some thing like that, but I'm not sure if I will cope if I go into stockbroking sector... will I be able to take the heat?

Black.