Tuesday, 1 December 2009

Not a good start

I decided to start December by raising my stakes to £20. I felt the last 2 weeks of November went well, and wanted to challenge myself a little. I knew that raising the stakes was going to test my new-found discipline, confidence and temperament, I didn't expect to be tested so soon!
The first few races started off ok, but then things started to go a bit wonky, the markets seemed, crazy, with big moves all over the place. I always seemed to be on the wrong side and came out with some fairly big losses. I felt I took these losses well, but my discipline slipped a bit, with some trades put in after the off time, which went in play a couple of times( not a conscious choice). A couple of the losses were due to me not paying attention to the signals the market was giving me, and waiting in hope for the market to turn. I ended up with an £8.15 loss on the day, which isnt too bad, I have recovered from comparable losses before. I think the higher stakes will bring into focus aspects of my trading that I need to work on, and will hopefully accelerate the learning process a bit.

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