Stop Press - Wheels Fall Off Trolley!

After an excellent day on Saturday, the 'New Old Plan' has hit a bit of a wobble with £45 lost over the past few days.

Yesterday's loss was almost wholly due entering the first race I looked at far too soon, with too much money. Not surprisingly, it went against me and everything I did to retrieve the loss only made it worse.

Keep in mind that I started with £10 at the beginning of the month and come Sunday, I was using stakes just over £100. Those fell back to £84 today, but I fared no better. Indeed, if anything, my trading was worse. Time and time again I got caught by a wild jump in the opposite direction, culminating in the 4:30 at Folkestone where I lost over £14. I threw the toys out of the pram then and quit for the day.

After such a good run since the start of the month, a loss was increasingly inevitable. I suspect that the rate at which my stake was compounded (increasing by 1000%) over that short time may have altered the way I was trading compared to when I first started this plan. My trading today was certainly all over the place and was not like it has been the past week.

Now that the stake has fallen back to £54 for tomorrow, it will be interesting to see how quickly I get back on the winning trail again.

2 comments:

Anonymous said...

The page below has a video of a pro trader which may help your trading entries. www.sportstradingjourney.com

Alistair said...

Thanks Anonymous. I'm familiar with Jack's videos and seen that one already.

My entry and exit points are something I've always had difficulty with though I feel I have been getting better over recent weeks - recent hiccups aside of course.