No Further Forward

I didn't expect to be trading tonight, but I got home earlier than expected. My mini break didn't do me any good if this evening's efforts were anything to go by.

I kicked off with a £6 loss in the 6:30 and quickly followed it with a £14 loss in the 6:40. Another 10 races later, I found myself down over £27 having lost 5 of the 12 races I had participated in.

I am clearly still not getting my entry and exit points correct. I'm still unable to hold on to a position when the market turns against me and getting out far too early when it is in my favour. As a result, I'm coming away with losing races when, with a bit of patience (not to mention nerve), I'd at least scratch them.

In addition, whilst the number of losing races is a concern, it is the size of those losses that is really killing me. In recent weeks, my average loss is significantly bigger than my average win. Not good.

While I've had the odd good day trading the nags, it still isn't 'clicking' for me. I haven't had that eureka moment of discovering something that works for me on a consistent basis. I find myself going through the motions, almost blindly, hoping that something will suddenly fall into place. Not yet though.

There's always tomorrow....

6 comments:

ballb0y said...

I can empashise with you Alastair as a couple of weeks ago I arrived home from work and jumped straight on the laptop to trade out the last few races of the night. On 2 consecutive evenings I hardly won a race and immediately decided that I wouldn't do that again. Some time ago I read on a blog about being mentally fit to trade. I have to agree with that. I am not too sure that there will be one Eureka moment for me, more like bit by bit I will begin improve due to recognising signals. Also I find that each trading session is different and being able to adapt will be one key to enjoying some success. There you go I think I have just learnt something! Cheers.

Gary said...

HI Alistair

Read through your blog last night, and listened to your interview on Juicestorm.

Was wondering if you still use you tennis strategy and if not why not?

Also are you still hedging the gg's in running and if so what pointers do you look for in your selections. I was thinking of giving Nick Mordin's pace figs a go and look to back those expected to run handy early.
Have tried to catch you several times in your chatroom over the last couple of days, think i missed you in there early on today.
When do you think you will be in there next?

Alistair said...

Hi ballb0y, this pre-race trading sure is frustrating. I thought I was making progress a couple of weeks ago. Now, I'm not so sure. I'll keep plugging away though in the hope that I'll start showing a little more consistency and stop throwing my profitable trades away.

Gary, you did very well to read through the whole blog AND listen to the Juicestorm interview. You must have been up all night.

I haven't looked at the tennis hedging strategy for a year now, simply because I was, and still am, concentrating on the dogs and horses.

Similarly, I stopped hedging the horses in-running for reasons outlined here.

I've not been around much over the past four days or so to spend much time in the chat room. You should find me there more often over the next few days.

Thanks for the comments guys.

Alistair

gary clucas said...

Yep took a long time i listened to the interview first in the afternoon then evening an early morning reading the blog, but it was a good read so it makes things easier.

The layout of the blog makes it easier as well, very neat, well constructed, easy to navigate.

Alistair said...

Cheers Gary. Very good of you to say so.

Alistair

Anthony said...

Hi Alistair,
Gary has a point. Why not continue with something that is working for you and making you money? You can still trade the horses and dogs but the pressure is off somewhat if you are making money elsewhere. I'm as guilty as any, as I was determined not to get involved in anything else until I could profit from the horses. However, I changed my mind and now love trading the tennis as I find it enjoyable and profitable.
Best regards,
Anthony