Friday, 12 February 2010

A sinking feeling

This week has been my toughest by far, with the -£54 loss the least of my concerns.

Things began to go wrong when I traded last Sunday; the waters were very stormy and the volatility tore me apart in the end. I make little notes on my spreadsheet after every session and my main observation for this day was...


I started chasing losses...

You: Schoolboy error!
Me: Yep
You: And you ended up losing more?
Me: Yep

Went into the session feeling positive but snippy markets left me feeling frustrated and bored. Ended up 7 English pence down!

Experimented with stakes upto £100 through boredom and chucked away a bit more of my bank.

Went too close to the off in the last race and got smashed for -£13.85...HO HO HO! Could've been a whole lot worse though!

Was £11 up before chucking it away again to end up a massive 98 pence in profit! I don't feel I did anything THAT silly today, just "one of those days".

Lessons learnt this week:

1) Stick to my usual game plan of making little bits often, rather than looking for big wins using crazy stakes.
2) Quit trading when the clock says 0:00 (I do this 99.9% of the time actually).
3) Avoid highly volatile days (these are evident when the graphs are 'mangled').
4) Chase losses to a point, then know when to quit.

The nice thing about summarising on a weekly basis is that, when the week is up, you can draw a line under it and endeavour to move on to bigger and better things.


  1. The good think about losses is that they point out your mistakes, and what you still need to concentrate and work on( although when Ive had a bad run its hard to think of it like that). Trading past 00:00 is one of my biggest mistakes too, and its hard to combat the "just one more trade" feeling. You just have to train yourself to do it, as in-play is the biggest bank killer.

  2. Very true Neil.

    I had a stinky Saturday too and have decided to take a week off the horses to regain my composure, so that my profit isn't totally squandered.


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