Short And Sweet

Today's Results:
Horse Racing... 1.8%% profit. New bank... £225.66

I was beginning to think that yesterday's excellent result was indeed short and sweet as trading today was almost a non-event. When I did manage to get in front of my PC, I threw away over a fiver in the first race.

I was just settling down for the afternoon session when my son appeared for a surprise visit. He's just past his driving test, and his mother has essentially given him free reign of her car for the week. He's like a kid with a new toy. Anyway, that was trading scuppered as we sat down and watched the Scottish Cup Final.

I didn't get going, trading wise, until the fateful 5:30, the result of which screwed up my head for a while and after 4 races I found myself nearly £8 down. I was starting to seriously consider packing it in for the night amidst fears of throwing away my well earned returns from Friday.

However, I carried on and successfully traded the 6:15 which marked the start of the fight back. Another 4 races later, I was up on the day and decided to quit with what small profit I had.

I got involved in 10 races today, scratching 1 and losing on 3 (at a cost of £8.37) with a profit of only £3.91. Not the result I was hoping for, but I've got to be satisfied with a profit rather than a loss, given the way I opened my account this evening.

While I'm regularly returning a profit, I must look at ways of reducing the number of losing trades as they are severely impacting on my profit at times. I'm not sure what I can do as yet. Stop losses are useless in a jumpy market as they often get fired in when you don't want them too. In addition, the place markets frequently reverse in my favour if they've gone against me in the first place.

That is the area I think I must address. On numerous occasions over recent weeks, I've taken a loss when the market failed to reverse back in my favour only for it to do so soon after closing the trade. Perhaps it's a simple case of trusting my instincts more and holding my nerve.

I probably won't manage any trading tomorrow as it's my son's last game of the season. Indeed, it's his team's last ever game as the U19s are shutting their doors. So it's unlikely that I'll get back in time.

For those of you that manage, have a good one.

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