So far this is a slow week. No trades, maybe things will pick up tonite. I closed my poker account at $600. I did some math and realized I've been getting very lucky. I should only be averaging about $10 an hour but I have been making 30. I don't like it enough to play for $10 an hour and could see myself getting hooked on it. I have better ways to spend my time, and all the money is going to my currency account, which is what I need to focus on.
How do you know your math is right? What must your math say you should make trading for you to convince yourself you've been getting very lucky?
Thinking about playing some more poker after I read a few books. I can beat the higher tables if I get a little better, and then the money will be decent. We'll see. Positions: L USD/JPY, Short USD/CHF and AUD/USD
Closed out Aud position +35 pips. Didn't like the way it was acting. Still holding the others at losses. No worries though.
Took partial profits on the CHF, and still holdind JPy down from my entry. I am at just under breakeven though because I have been trading around the position a little. Up about 10% for the week between open and closed positions.
Stopped out last night, all positions are closed, up about 4% for the week. The mountain opens in under two months.
I think I am going to hold longer. I make more money when I do, and it is very stress-free. Maybe I will even start using monthly charts, play for the big 1000+ pip moves. I started another poker account with $100, ran it up to 220 in about 6 hours over the last two days. I think I am good at poker and it takes away my urges to daytrade. Kind of like a nicotine patch for a wannabe daytrader. Maybe I am starting on one of those year-long lucky streaks I have heard about. Keep your fingers crossed. That is all. I might not post much more here, as there hasn't been much in the way of any discussion here lately. Maybe people aren't interested in currencies or poker, maybe I am boring, or maybe I am a dick. People seemed to enjoy it a lot more when I was make 100% and then losing 50%. More entertaining I suppose. This 4% stuff is boring I know. Perhaps longer term currency picks can generate more interesting discussion, and hopefully more money. I'll start making them after work tonight.
It is still summer here but people keep telling me that when winter hits, it hits hard. I think I figured out why I am doing well at poker. I am not winning any more than my fair share of hands, but when I have good stuff I am really jacking the pot up. That is why. Good to know. I'm not going to take any money out this time, I want to see how high of tables I can keep winning on. If I can do what I am doing now on the $3/6 I may have just found a career. We shall see. Currency analysis still to come, I'm busy playing poker right now.
If you have an edge playing poker.... and it looks like u do... dont stop until you make a million. Just ride the poker thing as far as u can. Trading will always be there. Money is still money.. whether u make it via poker or trading.. in reality u are still gonna be stuck on your PC clicking buttons all day regardless of whether u trade or play poker. Only problem with poker is that its embarassing to answer if someone asks you how u make a living. But hey... its cooler than being a Dentist.. lol --MIKE