Wudangshan, Hubei Province - China - Oct 2008

Losses are hard to handle once they overwhelm you...

Just got to train a couple of months Daoist Taiji in Wudangshan - the birthplace of Zhang SanFeng Taiji.

On 24.10.2008 the day all the markets were liquidating and saw huge losses I lost my GFT account of 6000 USD.

I was again trading against the trend and my positions were way over-leveraged..

Then after the range as already 350 pips in GBPUSD who could think it would make another 300 pips more... Crazy stuff but nobody to blame for this stuff.

Trying to get back to basics and to fix the long time issues I had been putting aside while it was easy to make money just averaging out of the daily range trading..

So back to school. and back to hard training.

FX & Futures LOSSES... 13.10.2008

just to make a note of how much money I made and lost these 2 last months:

:: in the end of spring - April 2008 I depostied 10k USD in GFT --outcome:

1. in August I made 55k - withdrew 7k -

2. again made it to 55k and lost it on a single trade in 5 minutes when the GBPUSD daily range from 300 pip overextended to 400+ pips ina liquidation trade..........

3. deposited 15k USD again made it to 21 k and lost themm in a trade

4. Oct 2008 deposited 15k USD more -- made them to 34k - withdrew 6k

5. these left 27k - I made into 38 k the same week and then lost them today in a single trade while shorting GBPUSD - AGAINST THE TREND!!!!!!!

6. the 9K I had in CMC CFD trading account I made to 12k and lost them while trying to buy the bottom in S&P and Dow futures... AGAIN AGAINST the TREND!!!
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how much money I have to lose to get this simple idea that to be consistently successful I have to act right :

1. discipline -- to wait for the right moment and for the opportunity to reveal

2. discipline -- to use leverage only when in profit and when the edge is in my favor!!!

3. discipline -- to develop scanerio and risk level and respect the RISK levels and initial strategy!!!

4. disicipline -- to use leverage only to the level I can manage the drawdown and to be able to come back if I am wrong or late to bail out...

5. DISCIPLINE -- to make the hard choise of being with the trend - buy high - sell higher if in trend mode!!!

6. TREND - to start trading first define the market mode :: Trend or Range ?

SOFIX - 585 - 10.10.2008

I saw Sofix 575 had a support level..

I entered when Sofix close at 585 on 10.10.2008

6000 shares - MONBAT /5MB/

4000 shares - CHIM /6C4/

3000 shares - EUBG /4EH/
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today monday 13.10.2008 seems a reversal is in the works - a bull rally in bear market actually

Dow closed like 800 points up - from a bottom at 7 890 - to a intrtaday high at 9 440...

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however my losses in FX and futures keep me crashing - my 'wealth' shinks too fast in the last 2 months...