FRUSTRATION!!!!! AGHHHH

Posted on Posted in General Rambling

Another frustrating day…. i took this screenshot as it just about sums up my trading this last week, i think its most definately confidence related and more to do with my execution of trades than anything else, the red above was through getting an exit taken that i didn’t want before getting my entry in which then led to me jumping in to try and get some back making it a bit worse! … thinking about it now its just as one of the major problems with trading mark douglas mentions in his book – feeling like you missed out and being wrong initially.

I dont think its my decision making a such that is gone up the kilter but more the way in which im implementing it. To that end im going to go back through this blog to previous posts as this seems to be a previous problem that is mearly rearing its head again! I know i can get through this but its becoming very frustrating as the image above shows, these sort of situations seem to be happening alot lately and its often the type of thing that entices me to make a stupid move denting confidence.

Also as usual befair managed to make a complete hash of saturday, i stopped after a few as my nerves were shot to bits after previous outages and didnt want to risk it going down again…. all round one of the most frustrating weekends of a long time.

8 thoughts on “FRUSTRATION!!!!! AGHHHH

  1. I know things are tough for you at the moment and I am not trying to give you a hard time.

    You must differentiate the difference between ‘possible’ and probable’

    It was possible that you would get matched at under 7.2 but how probable was it? Risk and reward were truly out of kilter here. Backing at this price had minimal upside. Walk away from the trade. Sometimes you will be wrong (not often though) but… your cash will be safe!!!

    The move on this runner had been made, it cannot shorten forever. The last minute flurry was people thinking it was a steamer and the layers knew it.

    Your margin for error when backing at 7.2 was tiny. That is not a good place to be is it? I think you knew this and was trying to make something happen by increasing stakes.

    When a price flattens close to the ‘off’ as it has here, the volitility decreases and this makes it dangerous to scalp even a single tick because without the correct data available you are simply gambling on a 50/50 chance.

    Volume increased on this runner once it had broken 10 – 9.8, once you have spotted this happening what should you do next?

    Keep your chin up.
    Quinny

  2. You made such a promising start when you first began trading, Caan, but after making some rookie mistakes you don’t seem to really learnt from, or shook them off.

    You need to get back to basics and have a fresh start. You’ve done all the errors and cock ups by now, chuck those bloody trading books away and start trusting your own instincts.

    Deep down you know what works and what doesn’t, no point in hiding behind trading/self help books thinking they’ll give you that missing link. Just cos someone says this is the way to do it properly in a book doesn’t mean you’ll do it. You need to sort your own set of rules that you know you can abide by. None of us are perfect traders and do things exactly by the book, you just have to learn what will work for you to be profitable.

  3. Thanks alot i always value your advice – im gonna take a step back and re build the rules as you said…. its frustrating as you know ive been their dont pretty much all of it now, the highs lows good results and poor ones too… thanks again

  4. Stop beating yourself up Caan and take some time out. Your relationship has just broken up. You need to be a little kinder to yourself.

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