An Eventful Non-event

Today was something of a non-event, though it was certainly eventful.

I'd got myself prepared and settled for this afternoon's racing and had started quite steadily when my son arrived for a surprise visit shortly after 2:00. As a result, I missed much of the afternoon session.

I managed to get back for the last few races and, as I moved into the evening session had got myself back into the swing of things. Come 6:20, I was into double figures which I was quite pleased with given the few races I'd actually managed to trade. Unfortunately, I wiped all my day's profit out in the 6:35.

With 15 mins in between races, I'd been taking the opportunity to chat with Leon at Don't Give Up Your Day Job on MSN. Out of the corner of my eye, I thought I spotted 'Talk Of Saafend' starting to drift, but I failed to spot that there was nearly 10 mins left on the clock. Rather than stop and take stock, I jumped straight in at 1.50 only to be swept aside by a large sum going in the opposite direction. I waited a bit to see if it would disappear, as they so often do, but support money started to arrive behind it so I decided to get out at 1.45 and a guaranteed loss of £10.90. Ouch!

I managed to retrieve a small amount on other runners, but the damage was done. Annoyingly and as so often is the case when I get caught like this, if I had held my nerve, the price came back again. However, it didn't do so until the last 60-90 secs. That would've been a long time to hold my nerve. Still, if I had been able to do so up until the off, I'd have been looking at a double figure profit rather than a double figure loss.

I let this lack of concentration screw up my head a bit causing me to lose another £9 over the next two races and I suddenly found myself some £9 down on the day. Fortunately, over the next 3 races, I managed to get myself back in profit, albeit just, at which point I quit for the day.

I traded 19 races today, scratching 7 and losing £20.62 over 4 with virtually all of that as a direct result of not staying fully focussed on what I was meant to be doing. So, an eventful day, effectively scratched and a bit of a comedown from yesterday. However, I've got to be happy with that as it could've been much worse.

1 comment:

Scott Ferguson said...

Take the small loss and move on, it can always keep going the other way - and you don't want to risk holding out for the last couple of minutes when the money from the track bookies could continue to crush the price. So long as your losses are no bigger than your profits, then you just have to be correct more times than you are wrong. Being frustrated when the market goes back to where you wanted it 30seconds after you closed out for a red will just do your head in. You can't get it right every time...

Easy isn't it? lol

I have a blog to link to if you like -