2010-01-27 FOMC and rollercoster day.

It's a long story.

The trade started before 2010-01-26, which I was doing a range trading at then end of US session of 01-25, I was I think break even or had little unrealized gain. Then I decided to hold on the winner and let it run, but didn't move stop to BE. Which is because I had some cases I was stopped out because moved to BE and missed bigger profit.

This is still fine.

Couple hours later, I was stopped out, then I reentered with bigger size, and stopped out, then again and again. by the time I have to stop, I was down -80 pips. I was shorting.

Later one that night, I realized 10 minutes after I was stopped out, Chinese bank news hit the wire and market dropped 100 pips in 1 hour, which I could be part of it if I wasn't stopped out. So I went reverse, buying the drop. That end up for me lost another -120 pips, and holding a 3.5X position over night. At the night I was using my iphone to check the price every couple hour ( I wasn't sleep well ), at one point I was making about 120 pips in this trade, but I want all of my loss back so didn't close it.

Now it's 1/26, it's range and sliding down, against me, I dind't do much wait until the night for some scalp at the previous support level.

Then it's 1/27, long waited FOMC, market was runing away from me before the news and after the news, there is NO suprise, I was able to pick up some at the low and sold part of it at high, but didn't help much as my 3.5x was too big (priced at 1.4080 level).

Then there was the president talk, and eur/usd tanked, it went as low as 1.3933 for about 10 seconds, I had another ordere for 3x filled at 1.3960 level. I was at one point down -560 pips for this giant trade.

I end up holding totoal of 11.5 x at average price 1.4015, at 1/27 night, my target was 1.4141, it did get there but I fold before it break 1.4130.

In the middle of the trade, I have to transfer extra cash from my reserved account to this trading account and change the leverage from 30:1 to 50:1 in ordere to just stay in the trade.

Now everything settled and I am able to return the fund to my reserved account and change the leverage back. And today's size is only half until I get more stable result.

None of the trade I mentioned in this topic had a PLAN.

It was so much painful to hold a loser and let it run.

It was so much painful to get up at night and watch the P/L to only find out I'm down another -150 pips.

It was so much painful to check the price or wanting to check the price even when I'm driving or playing with the kid.

I wasn't going to write about this at all, but then I realize I have to documented what I feel and hope I can remember it.