Bloody Hard Work!

What a day! Who ever said that this trading lark was an easy road to riches?

I got involved in 28 races today and scratched 18 of them. I'm never going to make much money doing that. The rest of the races seemed to take me 2 steps forward and 1 step back, but I had managed to scrape into double figures by the end of the afternoon.

After dinner, I quickly found myself on the back foot when I lost over £5 in the 6:05. The evening markets were a bit of a nightmare with me reversing the afternoon trends and taking 1 step forward and 2 steps back.

In the end, ignoring small penny loses in the aforementioned scratched trades, I lost 4 races today at a cost of £16.42 which was very disappointing. This left me with a meager £6.37 and another virtually wasted day under my belt.

Only one more trading day to go, before I go on my break. At this rate, it's hardly worth bothering. As ever though, I shall, in the forlorn hope that I might actually put in a decent return. I'm certainly due one.


Anthony said...

16 days without a loss. Perspective. All trading manuals and novels tell you that not making a loss is the first and most important step towards better trading.

Alistair said...

Very true Anthony.

Still, having gone backwards over the past month, I have to wonder if an ever increasing winning streak is worth the effort if the daily profit is in single figures and takes 5 hours to achieve.

This current prolonged winning run has hardly seen me trade better. Certainly the results are a hell of a lot worse than they were a month ago.

Not having a loss for so many days is gratifying, but given that it has seen me win a total of only £195 I'd much rather have a few losing days in there if it meant the other days were more profitable.