Mind Games

I've made no secret of the fact that mentally, I've been struggling for a while. Full of frustrations and doubt which I firmly believe have affected my trading. As we all know, having the correct mindset is so vital in this game. All the more remarkable then that during this troubled time, I have still managed to make a profit.

I'm please to say, I feel that I am in a much better place now and much of that, I think, can be attributed to the fact that I haven't been doing as much trading as normal. I've had numerous distractions and chores that needed my attention over the past couple of weeks or so which meant I couldn't trade even if I wanted to.

Possibly a case of reaching past saturation point as far as trading is concerned was making my mental state take a negative path.

It simply serves as yet another lesson in the importance of getting one's life balance right. Something I've struggled with for a long time.

Now that the major tasks like tax returns are out of the way, I was able to settle down to a full days trading today - with one very important difference. I took regular breaks when I felt tired or I had lost focus, even if it meant missing a race or two. As a result, I only did 18 greyhound races and 17 horses races yet I had the best day I've had for a while.

So £43 added to the pot. Not a huge amount, but certainly a heck of a lot better than of late. Here's hoping for a bit of consistency now.


Rob The Builder said...

I've had a terrible September myself, and sadly I have ended up in the red for the month.

In considering my options for October and beyond, one of my main actions is the same as you've noted - less betting. It's often an instinct to keep ploughing on when things are going astray, but a rest, coupled with time to reflect on what you are aiming to achieve, is often a great help.

Alistair said...

Sorry to hear that Rob. Certainly, in my case anyway, it seems that less is indeed more.

I'm sure you'll get it back soon enough.

JS said...

I've recently applied a 2 hour trading rule with a minimum 1 hour break and it has greatly improved my focus. I aim to build this up incrementaly until I can trade consistantly for 4 hours. You guys have been in this game much longer so I can imagine you have developed a higher threshold, but however high it is, breaks are necessary to maintain optimal focus - its just the way our brains are wired.

Steve said...

Well done Al, good to see you back on track. Sometimes it's hard to look at the long term game and we waste time worrying about missing the odd few races when in reality the overall average per race means nothing if we skip a few here and there. Much more important to feel comfortable when we get down to trading so it's really just a case of finding what works for you.

I think we need to remember they'll always be blips in our trading but as long as we have some edge it'll come good long term which is all that counts. Just don't get too carried away with any recent improvements as at this stage of your trading everything comes along in short steps not leaps.

I'll be happy to see the end of September as the last couple of weeks have been far too sloppy for me. Luckily it's just been a case of a few losing days not weeks but as my own monthly stats show any over £50's added up it's not a pretty sight :) From a financial point of view it's been a decent if unspectacular month but the amounts I've thrown away and bad habits I've let creep back in are much more annoying. So it'll be nice to start from scratch in October rather than have my failures staring me in the face everytime I load the days bethistory into my database.

Alistair said...

Thanks for the comments guys.

Certainly sloppiness has been a major contributing factor to my problems in recent times. It can be all to easy to become complacent when things are going well, but that much more difficult to pick things back up again when they are not.

It seems to me, now more than ever, that having one's head in gear if significantly more important than the mechanics of the trade itself. Keeping the mind in shape should be at the top of our list.