Tuesday, 18 May 2010

slow and steady

Back to a straightforward day today, only had 2 losing races out of 15, only losing 50p, and overall making over £6, which is not bad for £20 stakes. It does seem like I am taking up better positions, and that being more patient( or less greedy?) has helped me cut out a lot of the stupid losses I was getting. Having to wait longer before opening a position runs the risk of becoming more tied to that trade, and not accepting that I can still get it wrong, and I think thats what happened yesterday to some extent. Also the longer I trade, the more mistakes I am likely to make. Yesterday towards the end I was getting a bit careless, and my big losses happened because I had more than 1 trade entered, and when the market went against me, either a spike or a move,the other trades got taken and I was left with a bigger than normal loss, which led me to chase.
As someone pointed out recently, there have been 4000+ races this year. If I had made £0.40 a race on average( as I did today), then I would already have made £1600, which is a lot more than I have actually made. I need to lower my expectations, not think about what other people are making, and focus on being consistent and disciplined.

3 comments:

  1. Hello would you like to swap links?

    http://hwap19may2010.blogspot.com/

    Thanks

    ReplyDelete
  2. Have added you to my blog list, good luck

    ReplyDelete