As long as you stick to voting on the content of the post as opposed to the user you will be fine. Even if you do trigger the anti fraud algorithm. There are many limitations to prevent unwanted behavior but sometimes even "honest" actions are tripped up.
An example of this could be the 6 question per day limit.
What happens if I really have 6 different questions in one day and plan to document and research them before posting them here?
I'll be blocked - I can't post more than a certain number of questions per day. This is in place to prevent spamming and to try prevent people from posting questions without doing some sort of research or making some sort of effort before posting.
Another example more suited to our topic would be the voting issue that you detailed.
- What happens if, while browsing the site I come across a string of 10 posts that are phenomenal; Great questions, great solutions - all in all a win-win?
What would happen is that a whole lot of users would get their recognition and a nice little pat on the reputation for their efforts. BUT - and here is a big hairy one -
- What would happen if you (unknowingly) upvoted the same user on each one of those posts?
What if that user happened to be extremely active on that tag and happened to post an answer on all of the posts you saw?
What would happen is that you would trigger the voting fraud algorithm - even though you were in fact voting on the content and not the user.
So you see - it would be impossible/unfeasible/damn-hard to detect these kinds of situations - the anti fraud trigger would be pulled and a vote reversal would be fired out of the proverbial SO barrel...
To directly address your post -
Am I susceptible to be caught for serial voting?
At the end of the day we all are - even if we don't mean to serial up/down vote someone.
Is reputation gained from my votes deducted from his profile in this scenario?
Most certainly - the anti fraud script will nullify the votes you made to that user and recalculate reputation accordingly.
I just dont want my votes to be wasted
Don't worry! They are not wasted! At any given time there are way more than 40 posts that deserve an up/down vote - you can't get to them all in one day :) Use what you have and tomorrow you'll have a brand new batch of votes to dish out as you see fit!