10 days profitable
9 days not profitable
Most of the days that ended in a loss started out with a losing trade.
Towards the end of the month I made some significant progress in being able to stay out of trouble. Additionally, going forward, if my first trade of the day is a loss then I'm going to wait for pocket aces before I take another trade.
Poker Trend Line Break
A while back I picked up poker as a hobby via Don Miller's posts about how the two are related and how they can be complimentary activities in some ways.
I've been grinding the 1 cent 2 cent tables on PokerStars since October 09. So far I've put in 30,000 hands. At first I was playing Fixed Limit Hold'em and after awhile I realized I hate Fixed Limit Hold'em because its much more difficult to raise the competition out of the pots. So as of December 09' I began playing No Limit Hold'em exclusively and by looking at the chart you can see I immediately slowed the rate at which I was being beaten by the game. For the first 3 weeks of February I thought I was officially seeing some progress but alas the downward trend still had a few more extensions to go.
Right now my poker earnings have hit support twice and I'm looking for a trend-line break to the upside. I'll keep you posted how the chart develops.
I've been grinding the 1 cent 2 cent tables on PokerStars since October 09. So far I've put in 30,000 hands. At first I was playing Fixed Limit Hold'em and after awhile I realized I hate Fixed Limit Hold'em because its much more difficult to raise the competition out of the pots. So as of December 09' I began playing No Limit Hold'em exclusively and by looking at the chart you can see I immediately slowed the rate at which I was being beaten by the game. For the first 3 weeks of February I thought I was officially seeing some progress but alas the downward trend still had a few more extensions to go.
Right now my poker earnings have hit support twice and I'm looking for a trend-line break to the upside. I'll keep you posted how the chart develops.
Today Doesn't Count
Connectivity issues during an important part of my trading day leads me to not count this day at all. Irritating because I'm fairly certain I would have been reporting another nice result today had I had the opportunity to trade after the 7AM news announcement.
I'm also fairly certain that the connectivity issues were Oanda's and not mine. I have two different internet connections. One I pay for and one that's free. Both were working well. I haven't had any problems with Oanda since I started using them in the summer of last year so I'm betting they'll fix whatever happened and it'll be smooth sailing from here on out.
I'm also fairly certain that the connectivity issues were Oanda's and not mine. I have two different internet connections. One I pay for and one that's free. Both were working well. I haven't had any problems with Oanda since I started using them in the summer of last year so I'm betting they'll fix whatever happened and it'll be smooth sailing from here on out.
+ 5 pips = + $2.35
03.18.10
I could have minimized my loss on the first trade by moving my stop to underneath the price pause at 1.3671. I'm happy the second trade worked out in my favor but my target really wasn't that good. Price was breaking out of a range that it had been locked in since the beginning of the European session so there was a strong reason to think price would have continued downward as it did. A better target would have been 1.3620.
I could have minimized my loss on the first trade by moving my stop to underneath the price pause at 1.3671. I'm happy the second trade worked out in my favor but my target really wasn't that good. Price was breaking out of a range that it had been locked in since the beginning of the European session so there was a strong reason to think price would have continued downward as it did. A better target would have been 1.3620.
+ 16 pips = + $8.19
03.17.10
If any of my short entries circled in green were hit then my target would have been 1.3735. Once price broke through the high marked by the green line I was still looking to go short but my target was then adjusted and is notated by the gold vertical lines.
Lucky. My stop loss notated by the cyan colored line came within fractional pips of being hit.
+16 pips = $8.20
03.15.10
I was thinking reversal and was proven incorrect by two break-even trades. A little after 8:00AM PST any thought I had of going long was gone but I didn't think I was going to be able to get a decent entry for a short either. Again, I was wrong and I was able to go short at 1.3669 with my stop at 1.3679. My target was 1.3650 but I closed it early for +15 pips instead of +20.
I was thinking reversal and was proven incorrect by two break-even trades. A little after 8:00AM PST any thought I had of going long was gone but I didn't think I was going to be able to get a decent entry for a short either. Again, I was wrong and I was able to go short at 1.3669 with my stop at 1.3679. My target was 1.3650 but I closed it early for +15 pips instead of +20.
- 18 pips = - $9.15
03.11.10
The first 3 trades were totally lame. After the news I missed an entry at the pause and subsequent break of the trend line. Perhaps missing that trade contributed to a feeling of having to do something even though there weren't any high probability trades that I could see.
I was whip sawed on each of my first 3 trades. (Got what I deserved)
My fourth trade was frustrating because moments after my break even stop was hit price took off to within a pip of my target. I would have been able to manually close the trade for +10 pips.
The fifth trade was a higher risk entry in my opinion but at least it made sense. I wanted to wait until price had broken out of the range that I had just been whip sawed by many times. My stop was the cyan colored line. Price came to within a pip of my target and I closed it manually.
If today had been flawlessly executed with no hesitation, no emotional trades in the whip saw range & no moving my stop to break even, then my total profit potential on a perfect day would have been +39 pips. However, many mistakes were made and the net result was -19 pips.
The first 3 trades were totally lame. After the news I missed an entry at the pause and subsequent break of the trend line. Perhaps missing that trade contributed to a feeling of having to do something even though there weren't any high probability trades that I could see.
I was whip sawed on each of my first 3 trades. (Got what I deserved)
My fourth trade was frustrating because moments after my break even stop was hit price took off to within a pip of my target. I would have been able to manually close the trade for +10 pips.
The fifth trade was a higher risk entry in my opinion but at least it made sense. I wanted to wait until price had broken out of the range that I had just been whip sawed by many times. My stop was the cyan colored line. Price came to within a pip of my target and I closed it manually.
If today had been flawlessly executed with no hesitation, no emotional trades in the whip saw range & no moving my stop to break even, then my total profit potential on a perfect day would have been +39 pips. However, many mistakes were made and the net result was -19 pips.
-13 pips = - $6.55
03.10.10
First trade I didn't hold to my target of 1.3625
Second trade I was expecting the market to range back and forth.
Third trade was a completely bad move. The market wasn't moving fast so there was no reason to expect momentum to carry price quickly past my entry.
First trade I didn't hold to my target of 1.3625
Second trade I was expecting the market to range back and forth.
Third trade was a completely bad move. The market wasn't moving fast so there was no reason to expect momentum to carry price quickly past my entry.
+12 pips = + $6.35
03.09.10
I second guessed myself on the first trade and closed it prematurely. On the second trade I was determined not to second guess myself. The stop was placed below the cyan line and it was immediately tested. The market continued to drift sideways continually taunting me to close my trade prematurely for a second time in a row. So I said to the market "Hey, if you wanna give me a loss then go ahead and hit the damn cyan colored line. Otherwise, I'm staying with you until you give me a friggin' profit."
I second guessed myself on the first trade and closed it prematurely. On the second trade I was determined not to second guess myself. The stop was placed below the cyan line and it was immediately tested. The market continued to drift sideways continually taunting me to close my trade prematurely for a second time in a row. So I said to the market "Hey, if you wanna give me a loss then go ahead and hit the damn cyan colored line. Otherwise, I'm staying with you until you give me a friggin' profit."
- 9 pips = -$4.55
03.08.10
First trade acceptable.
Second trade bad.
Third trade good enough.
Fourth trade lame.
Woke up later than I should. Missed a solid up move. But who knows if I could have traded it profitably? Will wake up on time tomorrow.
First trade acceptable.
Second trade bad.
Third trade good enough.
Fourth trade lame.
Woke up later than I should. Missed a solid up move. But who knows if I could have traded it profitably? Will wake up on time tomorrow.
-94 pips = -$46.81
03.03.2010
My trading can be expressed as a beautifully elegant equation.
I will get better. Monthly/Bi-monthly/Weekly shots to the trading gut are good reminders that I currently suck at trading. However, I used to take daily shots to the gut. .. One day, maybe soon, maybe far far away in a world call shut your mouth, I will stop sucking at trading.
If you traded the EUR/USD today and you were profitable ... you're welcome!
My trading can be expressed as a beautifully elegant equation.
I will get better. Monthly/Bi-monthly/Weekly shots to the trading gut are good reminders that I currently suck at trading. However, I used to take daily shots to the gut. .. One day, maybe soon, maybe far far away in a world call shut your mouth, I will stop sucking at trading.If you traded the EUR/USD today and you were profitable ... you're welcome!
-19 pips = -$9.32
03.02.10
Traded late today. Made a good trade but then proceeded to give it all back to the market plus some.
Traded late today. Made a good trade but then proceeded to give it all back to the market plus some.
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