Sundays trading didn't go any better than on Saturday. There wasn't much money about, which means that if you do get it wrong, it can go against you in a big way. This is what happened to me. I kept putting in trades in bad positions, with not much money coming in to the market. Another In-Play mistake cost me £10, and I decided to stop trading after 5 races.
The last 2 days did help reinforce things in my mind though. Not to go in play( kind of obvious, you would have thought, but it seems I need to be reminded every so often as I slip back into bad habits of trading too close to the off), to be very wary of trading in low liquidity markets, and to pick and choose which races I trade. On monday I tried to put these thoughts into practice, with some success. I was more patient, waiting for good entry points, I closed out by the official off time, I didnt trade some races that looked very low in liquidity, and everything felt a lot easier.
So have I learned these lessons? Probably not completely. Its a constant battle against greed, boredom, desire, fear, but one that I am winning, and will win.
Tuesday, 13 April 2010
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