Poker vs Trading

Interesting article about poker and trading statistic here.

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.

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

Poker Posts Moved! New Blog 'Black Deck Poker'

Forex and poker are completely different fields although there are many similarities in the "investment" and probability concept. But in anyway, after much consideration, I still think it is better to separate both forex and poker posts into different blogs, as not to bore traders with poker posts, and poker players with trading posts.

My new poker site, made simple.

http://blackdeckpoker.blogspot.com

Feel free!!!!!!!

Black.

My Best Day In PokerStars

Today I finally achieve VIP SilverStar for the firstime ever since I started playing PokerStars. It is no sweat for high stakes player but I been grinding out almost everyday, a lot of sweat for me. At this rate I don't think I can aim for GoldStar, unless I continue to improve and move up stakes.

It is amazing for the first 1.5 years of my poker career I been losing 8 out of 10 days and now I am running hot. When you grind for VPP & FPP at the same time earning profits, it feels real good. Because it used to be moving in opposite direction. I'm not say it won't in future but I'm happy right now. Feeling good, running good, builds my confidence and game. Today up another US$73 in cash games 3-tabling 0.08/0.16. 

Entered a re-buy tourney and I was above average stack. Entrants was about 512 and I was knocked out at 154 when I 4-bet shoved KK to a semi-loosed guy who thought for a while...... and called me with QQ. Turn came a Q and I found myself face-palm and taking deep breaths. Luckily it didn't affect my cash games (playing simultaneously) like it would have used to (thanks to Mental Game of Poker), and I continue to grind. 

Gonna go out for a while and maintain balance lifestyle (shopping lol). Been in front of the computer for so many hours already. Have a great weekend people!

Black.

Poker Updates - No Trades

Haven't been trading for the past one week. Almost grinding poker at home everyday. I think I am at my next level. Used to be just a few dollars for my daily overall profit/loss. Currently 3-tabling and my peak session winning was US$73, high loss about US$65.

Another emotional achievement was that I am able to remain calm despite my peak loss day. And I was surprise that I wasn't that super happy either when my new session peak win happened. I think deep down I am slowly accepting variance in poker, of course I do get pissed when shoving an AA losing to KK. On the other hand, I remind myself I do crack aces with AKs when I flop a nut flush. 

Today I sat down and lost about 30usd within 50 hands. Managed to grind them back up and additional profit of 15usd. Tired and I stopped.

Above is cash games profit n loss graph. Did went back down to red but managed to win back. I am aiming for VIP SilverStar for this month. Currently about 100 vpp away.

Still no luck with tournaments/sngs. Lol what an awful graph.

Black.

Grinding Chart & Tables

Aud/Usd: +65 pips

+50 pips. (screw the analysts, I'm back into my position in Eur/Chf)

Finally hit the positive region for the first time this week (graph since November). Been grinding for more than 4 hours today. Could have been higher but that last slope down was due to my pocket aces getting cracked by cow boys. Variance variance variance.... I hope it continue its upslope!

Black.

January Review & Start of February

Busy with Chinese New Year for the past two weeks and a lot of things happened. So managed to find time now to update some stuff.

(extracted from Myfxbook)

Close to a -2% for my January trading month. One main problem with my losses was that I tend to trade 3 different pairs that are co-related at times (for eg. those peg against the USD). So if USD depreciates, they move together (Eur/Usd, Gbp/Usd move up, Usd/Chf move down) and vice versa. Thats when my trades usually get knocked down all at once if it fails.

Started the week with similar mistake and caused a huge drawdown. Managed to scrap bit by bit throughout. I took out my Gbp/Usd 30 pips earlier as not to hold them through NFP tonight. As usual I will be by the side lines and watch. 

This week transactions. No chart as I am too lazy due to high number of trades. (extracted from Myfxbook, my ID is black147)

I earlier (start of Asian session) longed Eur/Chf because I felt it is time for reversal. But then I saw a post in www.forexlive.com here:

I closed my position at +2 pips as not to take the risk. Just wondering, what would you do if you were me?

-------------------------------------------

Poker has been a good month in January. February started off well as I moved up stakes too. But I will still be wary of variance and approach things cautiously.

To all who are trading NFP, good luck tonight! And best of luck everyone at the charts/tables!

Black.

The Mental Game of Poker - Book Review

The Mental Game of Poker (TMGP)

I am not a good book reviewer so pardon me, but I felt a need to recommend this book to my friends and whomever (poker players or even traders) that are reading this blog. After picking up this book and going through to the 4th chapter, Jared Tendler has become my new hero.

Jared Tendler is not a poker player. He was a mental game coach for golf. Typically, this fact is enough to have most of us thinking "hey what does he know about poker to advise us?", even me. But I picked it up because after flipping and reading all those poker strategy books I have always been telling my girlfriend, "For the past 1.5 years in poker I am just losing 9 out of 10 days and reloading my bankroll!" It is that sad and its true, just click on my blog label: Poker and you will know my sad past. I pick it up because I have enough and I know there is something wrong underlying that is within me. I know positioning, playing range, pot-odds, calculate bet-sizes etc. than my friends but they are still winning players than me.

Jared Tendler (JT) has studied the game of poker and then coach top professionals, and after reading reviews I decided to give it a try.. in his book he wrote an excellent analogy: "A mechanic working on a race car doesn't need to be world-class driver to understand how to prepare a car to win. He needs to have a deep understanding of what the driver needs, the conditions the car will race in, and how the car works, and he must be able to diagnose and fix problems quickly."

You can get hardcopy or even eBook format in his official website. As I am living out of U.S. of course eBooks are good enough for me.

And enough of my stories lets get to the book. A typical "Conventional Poker Psychology" (what he calls it, such as deep breath, take breaks, meditation etc.) often helps to a point, which he regarded as short-term fixes, but not a long-term resolutions. In the TMGP he drills into the underlying problem of "Mental Game Fishes" and advise you. Even a solid winning poker player is a mental game fish if he has (a list of) thinking habits which are flawed.

The book covers 4 central areas of every poker player's mental game: Tilt, Fear, Motivation and Confidence. Before reading any new book, I suggest you approach it with an open-mind (not thinking that you-know-it-all).

The Adult Learning Model (ALM) which was mentioned is a theory of a process in which all of us learn. It breaks down into 4 levels of our learning model, which he uses throughout the book to explain to us some things which affect us at which level (for example, if you go on tilt your mind will shut down what you are learning in the Conscious Competence, and will only be left using skills from Unconscious Competence level).

Another powerful concept is the "Inchworm". It explains when poker players play their Best-game at times and trying to improve their best. But like an inchworm (it moves by stretching its body straight, anchors the front part, lifts up the back end, anchor the back part, then stretches its body straight to take a step forward) our game progresses like that. We need to fix our weakness (the back part), before we can move forward to learn our best (front part) to the next level. In short, improvement happens from two sides.

In between the chapters, there are also short sections on Client's Story. Where they tell stories about what they did in the past before approaching JT on their mental game. What they experienced in the past was something I can truly relate and its funny.

Here is one of the best chapter IMO, Emotions. Here in this chapter, JT breaks down technically how our emotions affect our thinking, that causes tilt. For example, it you hold A5 and flop the nut straight with 2-3-4. A fish all-in you and hit a runner-runner flush in the river. You may go "FUCKING IDIOTIC FISH DAMN!!"..... like I did. Your emotion has risen to a point which it basically malfunction your analytic mind (the higher brain functions such as thinking, planning, awareness etc). So if emotion is overactive, it shuts down the higher brain functions. That is one of the reason why tilt costs you more money.

To resolve, TMGP has advices on 'injecting logic', not only at the table (because that will be too late). You have to work on your brain muscle away from the table to fix this in the long-term. Strategies for this resolution are also covered intensively in the chapter on Strategy.

In the Tilt chapter, it also break down the common types of tilt poker players encounter and fixes. I can easily circle 5 out 7 tilts I am infected with.

In the Fear chapter, it explains player playing out of fear, like after losing sessions they may stop playing what is their usual profitable style, because they lost their trust due to fear (of beats or outdrawn etc). Sections such as Fear of Success and Fear of Mistakes are also covered.

The chapter on Motivation is also detailed on laziness, procrastination etc. which result in absence of learning and stop focusing on the process but only result every single time. What I can relate is Hopeless, when losing 9 out of 10 sessions is no joke. I even stop playing for a month at a point of time. These are covered, and to help it, the next chapter (which is a surprise to me) is to fix the problem of Hopeless.

Confidence. What I am surprise is that, even too much confidence can be harmful. Maybe because I never felt that way. Overconfidence leads to thinking you can play many hands and thinking you can beat the game for example you were simply running good and you began playing many too many hands which are out of your usual range. This chapter includes teaching you how to develop a stable confidence.

The Appendix includes a questionnaire that is supposed to help you identify and recognise your mental game problem.

I have not mastered the book obviously, but I am beginning to see progress in my game. Getting rivered by opponent who has only 1-3 outer in the past definitely tilt me to the point that I will lose more (spewing stacks), I never win after getting tilted in the past. Although it does not mean I definitely will win even if my mental game is good, but for the firstime I see myself getting beats and slowly grinding my way back.

Here are my progress for the past weeks.. it may not seem excellent to you, but it is a result good enough for me based on my past.

Cash Games.

Tourneys.

One reason for my tourney is that I began moving down stakes to try and beat the game a bit to rebuild my confidence. I proceeded up after that and won a few. Yesterday me and my buddy played a 45 Home Game tourney league (past 3 games my chip never even reach $3,000), I cashed out 4th and he cashed out 3rd.

This may be a period of running good and I may experience bad runs but what is important is to learn to "inject" the logic of variance into our game. I am trying my best now and love to see my progress.

Conclusion? This book does not have any poker strategy in it. But before you need any strategy, you need to master yourself. If you have tilt problem (I believe all poker players do), it is good enough you get this book. After countless poker books on my shelf, I must say this is one of the best and highly recommended book!!

Black.

---------------------------------

EDITED:

My post was fed into our twitter @blacknbottle and we got a Retweet from the author Jared Tendler @jaredtendler himself! 

Article on Tilt (Extracted Post)

Below is a very interesting article I came across browsing the net:

Link of original site: Freezeout Player http://www.freezeoutplayer.com/wht-tilt-is-your-enemy.html

To poker players (even traders) I think you've heard this over & over before but I think it still serves as a very good reminder for us because in the field of trading and poker (even athletes), mindset and psychological factor plays such an important role. I recommend reading because I think the concept also applies not only the poker players, but even to traders. Markets are so random (at times) and we should always factor in losses along the way, as long as we focus doing the 'right' thing, we will succeed over the long run!

Enjoy.

"Overcoming Tilt and Your State of Mind.

Have you ever gone on tilt ? I don’t think there is a person I’ve talked to that hasn’t at one time or another. There are a number of things that may happen that make you go on tilt, and some even have to do with poker ! Let me explain.

I hate getting sucked out on. I hate hitting trips after a rainbow flop, I bet and there is a raise all in. I call and a weak player hits runner runner for a flush. I HATE it but it is something you just have to take because it happens from time to time. That’s poker and that’s what makes it such an interesting game to play. You can make all the correct plays and still lose!

What I try to do to combat going on tilt is train myself to think about the suck out and believe that I made a correct call and more often then not I will win given the same circumstances. That’s why there are percentages for any given hand to win. Even a hand that’s favored 90% of the time will lose 10% of the time. So you must hang on to that belief that you made the correct move and just got unlucky. Then you have to put it behind you and move on.

I know what your thinking, easier said than done.

You're right, it is, but you must find a way to do this otherwise you could lose a lot of money. When you do this you might even discover you made an incorrect play so you can change your thinking the next time a similar situation comes your way. You also have to look at your long term results and not just this one hand.

Thinking about your long term results will put this one suck out into perspective. If your long term results are not good then perhaps other areas of your game need some analysis. The point I am trying to make is that you have to be able to take an unlucky hand and move on.

Some other things that have nothing to do with poker can affect your game and even put you on tilt before the game has started. These factors you have direct control over and can eliminate so as to not affect your game. If you’ve had a fight with your wife/husband, if you’ve had a bad day at work, if you have a headache or are feeling under the weather you should not be looking to start playing a poker tournament online. These are just a few of the many non poker factors that can have an influence on how you play. I think to play consistently well over a period of time you have to play with what I call a good ‘poker mindset’ going in. I think this gives you a better opportunity to win.

Your state of mind is very important when sitting down to play a mtt.

As said above many things in the world around you can effect your mindset before playing a tournament. To me the trick is if those factors affect you too much perhaps a break from poker for that evening is in order. Maybe a longer brake is in order, only you know for sure. Something else I try to do is to sit in front of the computer 10 minutes before the tournament I signed up for starts and close my eyes and just think of how I’m going to start this tournament, what strategy will I use, making good decisions and so forth. Just get into a ‘poker’ mindset. Its like a little quiet time before the tournament gets going. This is the mental part of the game. Look at any sports stars. I’ve seen interview after interview where the athlete says “much of what I do is mental, if I believe I can win I’m half way there”.

Anything you can do to increase your chances of making good decisions at the poker table is worth while doing. Different players do different things to prepare for a tournament. Figure out what your ‘thing’ is and do it. Having a good poker mindset going into a tournament gives you a better opportunity to make those good decisions therefore increasing your chances to win. If you can come up with a good way to avoid going on tilt and eliminate outside distractions then you have achieved a good ‘poker state of mind’! "

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~

Gbp/Usd & Drawing Dead

Sell-limit for Gbp/Usd on 50 SMA line wasn't triggered (less 1 pip away) and it went down a bit.. was kinda pissed and it later come back up and filled me in along with its ride.. take-profit +50 pips at previous low.

Usd/Chf is still running and been on ranging whole of today. Currently looking good. I am hoping to ride a long one for this. Do or die.

Am currently playing 6-max cash game for poker. Yesterday's session was running fine until I busto against a maniac who was raising overbet like 2x pot size for a few hands, as if trying to play punk.

So immediately the next hand I was dealt an AJ. He didn't look strong on pre-flop. Flop came A-J-5 and I thought I had this guy. He checked and I bet the shit out of him. In the end, he turned over pocket Aces, I was drawing dead since the flop. I opened my mouth staring blank and at the moment felt like how Mike McDermott got busto by KGB in the Rounders.. of course I didn't lose 3 high-society.. just my buy-in.

Today I was trying deep-stack 6-max. I played loosely (how I thought it was) and almost halved my stack. Quickly tightened up and luckily won back my losses, yesterday's losses and about a buy-in. Rare days for me for poker like this.

Black.

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.

Black.

Aud/Usd Big Reap & Poker Dick

Aud/Usd opened 100+ pips higher over the weekend in my favor. I continued my long on the pair hoping for a reversal. Before the weekend, I also did a buy-stop at 0.98 (which hit the moment the market open). The reversal continue throughout the day and finally two position hit the take-profit at 0.99 and one closed on 0.995. Bagged about +480 pips.

Not rich yet, but for today's trades, my account has finally go to the green side. It usually don't last so long as you can see, hope to be more consistent from today. Happy with the trades.

As for poker...

Continue the downtrend... can someone ask me to quit? I been on online poker for a year and a half now, and its been really tough for me. I don't know what to do now, I probably take a day or two break from it and think it over.

Good luck for the week people!

Black.

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.

My Hold'em Equity Graph

Proudly present to you..

Black.

Break-even Week for Trading

Got to blog at this hour because today is a public holiday in Singapore. Selamat Hari Raya Haji to our Muslim brothers! Its pretty sunny day and great that it is not rainy.

After all the battles with the market last week, I ended it break-even. Summary:

Usd/Jpy
Got a great trade during Japan BOJ intervention, rode along upside and exited swiftly. Besides the intervention, it became one of the most boring pair to trade the rest of the week.

Eur/Usd
Had a bad trade in Eur/Usd. Followed by an order off resistance, which bounces off nicely and caught a 56 pips.

Aud/Usd
Besides the RBA rate announcement last week, which they -0.25% of the aussie and I caught the downside, I had bad trading with the pair during Non-farm payroll. I only traded the aussie during NFP. Bad trading once again. Another good reason why I should walked away after placing my positions to enter. I sat down beforehand telling myself just to watch the order get hit else don't touch. Despite a very shallow movement after the announcement, I still entered. This discipline thingy seems like always a hundred miles away.

Poker

Been bad week. Need some serious thought and re-alignment. If it is time to walk away, walk away. 

Good luck people for the brand new week!

Black.

Bank of Japan Intervention Trade & 4-Heads-Up Poker

Forex
Asian market open trade on Usd/Jpy upon Bank of Japan intervention.

Very swift 10 minute take-profit. The intervention was heavy, just look at the candle stick. Correct me if I'm wrong, Bank of Japan were buying the US dollars with Yen, so to make their Yen cheaper, so as to boost their export. It is no difference from China controlling Yuan (Renminbi) buying of treasury bills?

+49 pips

Poker
Was full ring cash gaming earlier, after I watched the chart in the US opening, but could not find a set-up. Table was tight. Half of them were only buying in short-stack, like 40bb? So they barely call pre-flop raises so I slowly blind steals. Short-stack players usually play a fold-shove style, not necessary through shoving pre-flop, but they raise pre-flop at such an amount that commit their stack even upon flop. So its a do-or-die when your in a hand against such, else if you can successfully check-raise their c-bet if they didn't hit.

Key hand occurs when one of this short stack re-raises 12 big blinds amount pre-flop after UTG min-raised, I shoved my stack with QQs. The min-raiser folded (phew, his stack was 100bb same as mine). Short stacker called and rolled up aces. Oh my fucki- and then flopped a Queen set before my swearing was done. Now I am at the other side of the course as compared to my last week bad beats.

Had a 4-man NLHE Heads-up Sit n' Go. First guy was good. I managed to discover his betting style when he had top pair, from calling a sure-lose river bet just to see his hole cards. Things were easier from there, and I also got lucky hitting sets about two hands. I finished the game earlier so I went over to observe the other table, watching the two possible opponents. Guy who won was shover, aggressive from what I observed.

I was surprise when the final table match started at how tight he was. I took the pots down for the first consecutive 12 hands. By then effective stack was about 800. He began to become "personal" about my raises. Meaning he shoved whenever I raises, and check/call whenever I call. I noticed in heads-up there are players who get emotional or tilt and their betting style began to have a big difference. And he began to exploit this shoving style, knowing I wouldn't risk giving him a chance to double-up.

Hand #14

View hand 1498422

DeucesCracked Poker Videos Hand History Converter

BB: t690  34.50 BBs

Hero (BTN/SB): t2310  115.50 BBs

Pre Flop: (t30) Hero is BTN/SB with Q A

Hero raises to t40, BB calls t20

Flop: (t80) 3 J T (2 players)

BB checks, Hero bets t40, BB calls t40

Turn: (t160) 7 (2 players)

BB checks, Hero bets t40, BB raises to t610 all in, Hero folds

Final Pot: t240

BB wins t240

Hand #15

View hand 1498426
DeucesCracked Poker Videos Hand History Converter

BTN/SB: t810 40.50 BBs
Hero (BB): t2190 109.50 BBs

Pre Flop: (t30) Hero is BB with 2 K
BTN/SB calls t10, Hero checks

Flop: (t40) 5 A T (2 players)
Hero checks, BTN/SB checks

Turn: (t40) 6 (2 players)
Hero bets t40, BTN/SB raises to t790 all in, Hero folds

Final Pot: t120
BTN/SB wins t120

Hand #16

View hand 1498427
DeucesCracked Poker Videos Hand History Converter

BB: t870 43.50 BBs
Hero (BTN/SB): t2130 106.50 BBs

Pre Flop: (t30) Hero is BTN/SB with 5 9
Hero calls t10, BB checks

Flop: (t40) 7 A 3 (2 players)
BB checks, Hero checks

Turn: (t40) J (2 players)
BB checks, Hero checks

River: (t40) 5 (2 players)
BB checks, Hero bets t40, BB calls t40

Final Pot: t120
BB shows 7 6 (a pair of Sevens)
Hero shows 5 9 (a pair of Fives)
BB wins t120

Hand #17

View hand 1498428

DeucesCracked Poker Videos Hand History Converter

BTN/SB: t930 46.50 BBs

Hero (BB): t2070 103.50 BBs

Pre Flop: (t30) Hero is BB with 8 A

1 fold

Final Pot: t30

Hero mucks 8 A

Hero wins t20

(Rake: t10)

Last Hand

View hand 1498429

DeucesCracked Poker Videos Hand History Converter

BB: t920 46 BBs

Hero (BTN/SB): t2080 104 BBs

Pre Flop: (t30) Hero is BTN/SB with T 4

Hero raises to t40, BB raises to t120, Hero calls t80

Flop: (t240) J J 5 (2 players)

BB checks, Hero checks

Turn: (t240) T (2 players)

BB bets t800 all in, Hero calls t800

River: (t1840) J (2 players - 1 is all in)

Final Pot: t1840

BB shows A Q (three of a kind, Jacks)

Hero shows T 4 (a full house, Jacks full of Tens)

Hero wins t1840

He probably thought I wouldn't hit the paired flop and turn so he could either win a high card by river or make me fold immediately, since his previous shoves has been met with high fold equity from me. But wrong timing for him and right timing lucky turn for me. 

Good luck for the new month friends!

Black.