What An Idiot!

Sometimes I think I should just shoot myself for being so stupid. Today I committed one of the cardinal sins of trading - not concentrating on the task in hand.

Today had been one of those days where I took 2 steps forward, then 1 step back. Still, at least I was heading in the right direction despite way too many sizable losing trades. However, they paled into insignificance when I lost £13.80 in the 4:18 at Monmore this afternoon.

I had allowed myself to get distracted after the previous race and found myself reading a forum post when my mobile sounded the 1 minute to go warning. I switched to the race, saw that there was a clear favourite quickly coming in and lumped on without stopping to think and assess the market.

I do not really need to tell you what happened next. One big reversal later, I'd lost nearly £14.


Interestingly, that dog was the Racing Post nap for the Monmore card. Another warning sign. Just the other day I was telling the chaps in the chat room that I frequently lose on these naps and I should leave well alone.

Anyway, I shrugged it off as I am able to do these days and things looked better when I immediately retrieved more than £2 in the next race. However, when I lost a further £5 in the following race, I decided to quit for the day having gone from the mid £20s and looking to break through £30 down to £5 profit for the day.

I traded a total of 33 races today and lost on 9 of these costing a staggering £32.06! As you can see from that figure, my problem wasn't just that big loss at the end but it certainly took what remaining wind there was from my sails.

Best to stop and put my feet up for the night I think.


alex said...

Good morning!
I've added a link from my blog http://www.bettingblog.org.uk
Please can you reciprocate?

Alistair said...

Hi Alex,

Happy to exchange links with you. You'll find you link on the links page.