On Tuesday the 3rd november I wrote in my blog
"I feel that I have made a large leap to the next level over the last few days.................,I will see what happens in the next few days, many times I have thought this and been brought crashing back to earth."
Is it a coincidence that the next 3 days trading went really badly? probably not, but whether its due to the the negative thought of "its happened before, it will happen again", or to overconfidence from good results, or some other reason, I dont really know.
Anyway, I have pulled it back together a bit in the last couple of days, with 2 decent results. I have set a rule of not trading past the official off time, even if I am in the red for that race, and have managed to hold to that most of the time. not good enough, I have to do it every time.
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Neil,
ReplyDeleteAre you me? We are very alike!
I am getting better, honest, however, I still get the urge to go in-play when I've messed up a race.
At the moment I am trading outsiders and am doing much better. Often I get caught out on the favourite and that is when the urge to square that up and lay an outsider comes in.
I find the outsiders easier to read and if you do go in play you do have a little more time to square up your red.
Regards
Steve
Heh, I guess what we are going through is common to most traders, some get to the other side, some don't. I aim to be one of the ones that make it.
ReplyDeleteI tend not to trade on any favorite with odds under 3, since I cannot get a hang of the swings, and either cut out too early, or too late. I will trade if I see them at the bottom or top of their range, with an established support or resistance point, but other than that, I tend to watch for the favorite to move, then look to trade the 2nd or 3rd favorite as it reacts to the move
Some people just aren't cut out for trading and after a year and a half of getting nowhere you need to re-evalute the reasons why you're even trying. Take some time out and read my blog to see how to do it properly :)
ReplyDeleteApologies mate, I'm not sure if you noticed yet but there is an anonymous poster who is winding you up. I made him look rather stupid on my blog and prevented him from posting, ever since he's been using my initials and posting stupid things to try and get a reaction out of people. Just thought I would give you a heads up.
ReplyDelete@Anon I know every site you post on because I have a tracker which tells me each and every referal site for my blog. Not long before you run our of blogs either. I know now from the extent of your retaliation just how much I got to you. It feels good knowing that it really bothered you ;D
I did wonder, it didnt seem to be your style of post. I think he must be a member of Geeks Toy forum, as I posted a link to my blog there yesterday, and he posted a comment soon after.
ReplyDeleteHe does make a good point though, am I cut out for trading? and why am I putting myself through this?
I think when learning something as challenging as trading its never going to be easy and there are always going to be times when you doubt your ability. You need to put yourself through some difficult times in order to progress. Saying that though there are no guarantees and as far as professions go there are much easier options out there.
ReplyDeleteIf your going to give it a proper go try and create a development plan with specific set and achieveable targets (not monetary orientated but skillset orientated). Try to focus on one or two a session as too many at once can get overwhelming. As long as you are getting close or hitting these achieveable targets you are improving your skills as a trader and moving forward.
Hope this helps a bit mate.