Tuesday, 13 April 2010

Lesson learned?

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.

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