I Can't Go On Like This

Today, I lasted 45 mins and 5 races. In two of them, I turned £3 greened up positions into a pennies. The rest, I turned equally good greened up positions in similar sized losses with the result that I found myself £9 down. Not a great sum granted, but the manner in which it was achieved made me turn off my pc in disgust.

I went back at 4:00 and did 3 races before giving up. I won £3 in one, turned profits into losses in the other two, one of which went from £3 to -£8.20. I've conceded defeat and closed my trading software.

A total of eight races and a loss of more than £16.

I am really struggling with this trading lark this month. That's four losing days on the trot for the pre-race horse markets. Any skills that I may have been developing in recent weeks have disappeared and I am just not 'getting' it.

As I've already mentioned, my greyhound trading skills have completely deserted me and I now seem to be left with nothing. The mental demons are racing back to plague me and I have to question where I go from here.

To be honest, I haven't a clue. Although last weekend offered some welcome respite, I've not been enjoying the trading over the past few weeks, mainly due to frustration with my lack of progress - not to mention the losses.

Don't be surprised if there's no more posts for a while. I'm just so pissed off by it all.

6 comments:

Ostlerstrading said...

Alistair,

As much as it hurts like hell, you are not on your own in struggling to make money on pre-trading the horses. People tend to forget that for the successful traders out there who post profits of £000's a month, there are many many more traders who must be losing, because the money has to come from somewhere.

I can't offer any solice at the moment as I too seem to call many moves wrong, so maybe a small break is what is you need. Only when you have taken a step away from it, will the black cloud lift. (and it will lift)

Paul said...

Same for me today, Alistair. £50 down on tonight's action. Pretty dispiriting, especially as I could feel myself becoming more desperate and reckless until it all blew up with a £28 loss in the final race. We just have to soldier on, I suppose

Rick Ford said...

In the last 6 months there has been a huge increase of new traders entering the markets (just ask Bet Angel), so the industry is getting more competitive than ever. You have to stick to the fundamentals and try and differentiate yourself using your own different styles.

I hope you keep posting on the blog now and again as it is a very interesting read. Maybe you should limit your blog postings to once or twice a week and concentrate on your own trading!

Steve said...

Personally I've found the markets a doddle for the last few weeks and reckon the majority of it is down to confidence with your own skills. The more you win the more you realise you're doing something right and try to stick to that plan. Once the confidence goes you'll make all sorts of mistakes and bad trades so maybe time to have a short break and re-group.

Your losses are piddling amounts compared to the stakes you're playing at so can't be doing too much wrong just having a lack of belief and maybe jumping ship too early just to limit losses do to yur recent run. £18 down for June shouldn't really be any reason to be so down on yourself.

The markets on betfair change all time and you also need to adapt. At the moment there's so much racing people maybe only have 5 minutes to form their trades/bets/markets from one race to the next so moves can be quite drastic and whereas before price points may have been filled they may not be now due to races clashing etc.

Half your stakes, and choose races you know you can trade, for the time being to get back to winning ways but certainly don't let an £18 loss after 5 days bother you.

Anthony said...

I've found it hard recently too, Alistair. Alot of it, in my case, is a mental block and that seems to be what's affecting you too.
I would direct you to Leon's blogging in January when he nearly gave up. He's now earning substantial sums. I think you should, like myself, drop back to smaller stakes and learn to use the tools that are available to guide your decision making. Less trades and more studying.
Best of luck,
Anthony

Anonymous said...

hi alistair.....i need your help about trading....as many times as i did i had big liabillity...are you study the betfair charts?....

thanks a lot..jim..