Taking A Step Back

This has been, and continues to be, such a shocking month for me that I've recently stepped back from all the extracurricular activities in order to concentrate on the basics and get my trading back on track - or at least try to. Every since the clocks changed, I've had great difficulty reading any market I enter.

That's why there has been limited blog posts, at least regarding my performance anyway.

I've reduced my stake in not only the horse markets, but the greyhounds and football as well, in an attempt to slow the slide as I try to get some consistency back into my activities. It has taken two weeks just to get myself into a rather precarious profit for the month.

I've also cut back on the amount of trading I'm doing. This especially effects my involvement in the dog markets. This obviously has consequences regarding the potential return. However, the return for the amount of time spent means it is just not worth it. Moreover, it helps to reduce the trading overload I've been feeling in recent times.

Now, I only do the first hour or so before the horse racing begins and up to 6:00pm once the horses finish. This also frees up the evening for some football trading, which leads me nicely on to...

Ebooks. I've managed to get a hold of a number of ebooks which, in themselves are probably out of date and useless as far as their strategies are concerned. However, I've been spending some time studying their content in the hope that they trigger a spark that takes me off in another direction. I could certainly do with a bit of inspiration at the moment.

I'll leave you with a little anecdote from this afternoon's trading which adequately describes my lack of confidence and courage of my convictions...

When I switched to the 2:30 at Cork I immediately noticed that there was more than £100 waiting to be backed @ 1000.0 on 'Agility Jo'. I flagged it up in the chat room, but I left it and traded the favourite, where I greened up for a decent enough profit.

The money on the rank outsider was still there, but I still didn't take it. Before the off, it shortened to 630.0 and in-running it shot down, trading for small amounts as low as 20.0 before the horse was eventually pulled up.

Given that there were only 5 runners over a 3m hurdle race, surely it would have been worth putting at least some of my profit on it and taking it in running?

While I may be a profitable trader, I'm not going to make decent money unless I learn to take some more risks. Another lesson learned. Whether I actually act on it next time is another matter.

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