Take It Or Leave It

Today's Results:
Horse Racing... 7.9% profit. New bank... £120.81

I've touched on this many times since starting this blog yet I never seem to learn. On the face of it, 7.9% increase in the bank is excellent, yet it should've been well into double figures.

When am I going to take a decent profit and stop leaving it to run for that little bit longer, only for it to halve (or worse) what I could've had?

Today started off rather poorly. I don't know why, but I frequently lose on the first race I enter. (Perhaps Betfair needs a 'practice mode'). That in itself isn't necessarily an issue; it's the fact that it effects my trading for the next 30-60 mins that makes it all the more annoying.

To be honest, I found the markets pretty difficult to read today, particularly those in the first hour or so. It wasn't until the 6th race I entered - the 3:30 at Redcar - that things started to click. I carried on happily from then on with profits or scratches and my opening race was the only loser - another reason why it's annoying.

The evening session was a bit of a mixed bag with 5 winners and 2 losers. Again I was suffering from my inability to accept a reasonable profit and would carry on trading looking to make it an excellent profit and only to lose a significant proportion of my winning position.

Perhaps I'm being to hard on myself. Regular readers will be aware that I'm consistently posting positive daily results and considering I've increased a £10 bank to over £120 in just over two months, I should be delighted. I am, yet I frequently end the day somewhat critical of myself for not coming away with a bigger result when I had the chance.

Being self-critical is in my nature. Let's hope, as far as the trading is concerned, it's a healthy state of mind.

1 comment:

zappi said...

Remember the mantra...when you lose you lose a little when you win you win a little ...but sometimes win big.

Stay the course and alway's avoid the big loss at all counts.