I've Had Better Days

Today was a real struggle. One of those days when I seemed to get virtually every opening position wrong and as a result, spent much of my time on the back foot. I actually finished the afternoon session around 3:30 as nothing was going my way so it seemed.

I returned after 5:00 to try and recover the near £20 I had lost earlier. It took a while to get going, but eventually things started to click and as soon as I got myself into profit I stopped for the day.

It is of course frustrating spending all day just to make a few pounds. However, it's all part of the learning process. At least the lessons are not costing me huge amounts of money and will stand me in good stead in the long run.

1 comment:

Steve said...

If you're getting so many entry points wrong you need to have a look at why they were wrong.

You mentioned this afternoon you go in at least 5mins before the off so it's possible you're going in far too early and misreading the usual ebb and flow as a market move. The lower liquidity at that time can easily see prices move. The amounts taken are relatively small and probably taken by one punter just wanting to get his bet on.

With your more risk conscious style of trading you should also be looking to avoid market movers rather than trying to find and get on them. Maybe that effort would be better spent looking for the more static prices and let the natural ebb and flow of the market fill your positions/ticks. No point in finding big movers if you don't take full advantage as once the real back/lay moneys dried up they'll usually bounce around with traders cash and are unpredictable.