Today's Results:
Horse Racing... 3.0% loss. New bank... £163.12

Guilty as charged your Honour.

I didn't have a good session tonight, but at least it was not a disaster. It didn't start well, primarily because I'd rushed home from work, all eager to get going after yesterday and promptly messed up the first race I entered - probably because I was still trying to eat my dinner at the time.

I swapped loss for profit, profit for loss all evening, but never really managed to get going, or indeed read the markets properly. I was however, more or less level on the night when I got hit by a spike - the risk I run when looking for spikes to happen I guess. This one went the opposite way from the direction I was expecting. That was the trade that did the damage tonight.

But what I was really guilty of this evening, was that old problem of trying to force trades that aren't really there. Unfortunately, I paid the price.

Still, a fiver lost and no major harm done. I'll get it back tomorrow.


Loocie said...

Hi Alistair,

I really know what you mean with "...that old problem of trying to force trades that aren't really there.". You know you are able to make profit, but there is no need to force it, when there is no possibility to trade. You had only a small loss and you won the knowlegde of not forcing a trade, that's the good thing.
All you need is patience, but how to "train on being patient"?

All the best, Loocie

Alistair said...

Hi Loocie,

It's been a while since we've 'spoke'. I think my problem yesterday stemmed from have such a good couple of days beforehand resulting in me being over keen to continue the trend.

Anyway, only a small loss, and I'm sure I'll get it back soon.