Mind Revolutions

Today's Results:
Horse Racing... 7.1% profit. New bank... £255.81

So much of this game is in the head and it can take some time to get oneself in the right mindset. As I've openly documented over the past three months, I have successfully increased my bank by over 2500% but it hasn't always been plain sailing. I've had numerous setbacks, mental aberrations and moments of extreme doubt.

Over those 3 months, I have slowly, but surely overcome much of the emotional side of trading. That's not to say I don't have issues still. I do, and no doubt will continue to do so. However, I'm handling them much better and learning from them so that when they do arise, I can spot them and deal with them accordingly.

This has clearly helped my trading where, at the risk of tempting fate, something really has 'clicked' for me over the past few days.With another 7.1% added to the bank today I've increased my horse trading bank by a fraction under 34% over the bank holiday weekend.

I'm currently edging towards consistently making 20/day tax free pounds. That in itself is terrific and will make a difference. To say that I'm delighted is an understatement. Getting to this stage has been great, but the next month will be interesting. I need to push on, but the first target is to make sure I maintain these levels.

It's interesting that when I first started this, it was always intended as a hobby; a way to make an extra few bob. Now that I've proved to myself that I can do this, there's the possibility of achieving a very useful and welcome second income.

Roll on next month....

3 comments:

Graeme Dand said...

Well done Ali.

I think you've done amazing to get as far as this and it is important that you continue on the upward trend.

You seem to have developed the ideal mixture of risk and return and I like the way that you don't seem to have any massive blips.

One issue I always had with scalping was that I was liable to chuck away a week's profit in one race but you don't seem to have this bad trait!

I think you just need to continue doing what you are doing and the profits will increase over time as your bank continues to increase.

Well done mate and keep it up.

Graeme

leonthefixer said...

Well done mate - Reading todays post it reminds me of my first few month and how I continued. Using the small amounts to begin with and building up meant the losses were fiancially bad but taught me a lot. Learning to deal with the losses has been my key this month and has helped me step up a gear.

Well done again and please make sure you keep your blog going while im on holiday! Chat soon.

Leonthefixer.

Alistair said...

Hi chaps,

Thanks for the comments. It's been a long slog to get to this point, though that was always going to be the case starting off with only £10. The bank is now at such a level were my staking allows for greater returns for the same amount of effort. With that, the rewards should be that much more worthwhile.

Regrading this blog Leon, I'll certainly be keeping it going. I feel it serves a very imortant role in helping me maintain my focus and discipline. Whilst the supportive comments left by visitors is welcome, I'd carry on writing the blog even if no one read it. It provides a mechanism for me to review the day, publicly vent my frustrations and of course my successes. I'd recommend blog writing to any trader if they feel it will help them succeed.

Alistair