End Of A Difficult Week

The monthly headline figure looks nice and healthy at over £400, but I cannot help be frustrated at this week's performance. Today was pretty typical of the frustration I've been feeling.

I started off very well, with an initial trade of over £5 in the first dog race of the day. By the time the first hour was up. I was over £10. As I've said a few times in the past, an hourly rate of £10 would do me nicely. Unfortunately, at this point I started treading water. I spent the next 4 hours floating around this level, +/- £4.00.

The day was only saved in the last half hour were I finally had some good trades that boosted profits up towards the £20 mark. Such a disappointing figure to add to the other disappointments of the week.

I traded 43 races today, losing 12 of them at a cost of £16.32 - which is clearly not good enough having thrown half the value of my profitable trades away.

My trading has been increasingly poor this week and I have had an ever increasing feeling of my confidence ebbing away. Strange, as I said at the turn of the year, that a minimum of £400/month is what I would be happy with. Last week's £101.65 takes me over that target and there's still two weeks to go!

Am I being too hard on myself? Perhaps, but having got used to £200-£300 in a week, it's hard not to.


Drifter said...

Hi Alistair

Yes confidence is so important when trading. If you are struggling you become hesitant and miss opportunities or get on a steamer just as it turns. Keep looking for small profits and hopefully this will start to improve your confidence.

I think with £400 in profit already this month you may be being a little harsh on yourself.


Anonymous said...

Sounds like you are doing well to me !! i would like to hit £50 a day , but its difficult and not done it yet !! What size stakes are you using ?

onwards and upwards


leonthefixer said...

You are being to hard on yourself!

Simple as that. You are approaching your third best ever month and there is still two weeks to go!

I bet you will have at least your second best month this month!

I know exactly what you mean about confidence - I have been on a downwards slide all month and this week was the worst yet. Perhaps a break might be in order for you? Get away from it all for a day - it will clear your head and give you a chance to properly to reflect on your trading.

Keep it up mate - you are putting me to shame!

Alistair said...

Thanks for the support guys.

Regulars and those who have waded through all my posts (and therefore clearly have too much time on their hands) will know by now that I have a pessimistic nature. The slightest hiccup, perceived or otherwise, is enough to set me off.

I am always self-critical if I'm not doing as well as I think I should be. I take my successes for granted and let my failures bug me.

As Leon says though, I'm only half way through one of my better months, so I'm sure I'll come through this little blip soon.


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Alistair said...


I'll add your link later tonight or early tomorrow morning.