In play….. whoops that would of been a K

Posted on Posted in General Rambling

Well well well….. i must have tempted fate previously as this week i completely lost my cool while trading in-play whilst in a bad mood and the heat of a frustrating afternoon sesh…… what more can i say? -£1030 straight down the pan.

Even worse then that its dented my confidence a little and things seem tough. I know ill come out the other side of this but its one of those rather anoying blunders which shouldnt really happen….. i lasted a whole 8 1/2 months… which is a record for me but i really cant afford to do it ever again, spent the last two days beating myself up for it but its no good… get up, dust off, start again.

Over the last couple of weeks ive seen liquidity drop a fair bit pre race and it feels like trading against un-genuine money alot of the time, most frustrating but i suppose its the winter well and truly on its way!

On reflection i think it highlights just how important it can be to have a sound state of mind before even attempting to trade, why did i do that? i really dont know…. a culmination of stress and a whole variety of problems so it would seem, not good when its your income as its serious stuff!

9 thoughts on “In play….. whoops that would of been a K

  1. Ouch!!! It happens though. It’s an expensive lesson that you won’t make again. The difficult part is looking at your balance and imagining what it should be. It’ll take you a while to get over it but if you’re serious about it you’ll get through it and become a stronger trader for it. Just stick to pre-race. As soon as the clock hits 0:00 get the hell out of there. Do that and you’ll never have this happen to you again. Easier said than done I know but you’ve got to do it if you want to succeed.

    Best of luck and chin up.

    Steve.

  2. I know exactly how it pains, when going in play and loosing lots of very hard work. Stop doing that, without any thinking turn off the market and go to the next one. “get back on the horse” and start doing your old profitable trading, do not beet yourself, what happened is a lesson for you to not forget with what kind off business you are working, we cant afford doing lame things too much. Good luck

  3. I collected data and developed my inrunning strategies over a three year period before using anything more than £2 stakes.

    I would never have been so patient if I hadn’t beleived that there were plenty of guys like yourself willing to line my pockets.

    I learned to trade by going back to basics, learning the math (really getting my head down and studying to an advanced level) understanding how to collect and interperet data. I spent hundreds and hundreds and hundreds of hours doing this and I was exhausted and often felt sick with the effort and fatigue.

    Once I had resolved myself to being patient rather than trying to make quick profits I began to enjoy the whole process of learning without trying to make these sums you see on various blogs.

    I wouldn’t wish to be starting out again but boy what a difference this has made to me as a person.

    You have a lot the attributes to make this work for yourself but I have an uneasy feeling that you may be in too much of a hurry. Learn the necessary background skills (and more) and your perspective will change forever.

  4. Yes i agree anon, i am too impatient… that said it wasnt a case of scaling up but more a moment of ‘ahh sod it and see’. I know you are completely right though about being in too much of a hurry. Thanks for the valued input all.

  5. Unlucky Caan, we’ve all been there at some time but these ‘sod it’ moments always seem to pay off enough to make it seem worth it but it’s only ever money borrowed and eventually one hits so you’ll pay it back with interest.

    You’ve just got to learn to take the bad days or small losses on the chin, chasing only hides any flaws for a short while but always catch you out and the bigger your risk the bigger the hit when it comes.

    Now it’s your income you’ve got to get to grips with it asap.

  6. Yes i agree anon2 – although its something i really did not intend on doing or want too in the long run its probably just embossed old feeling on behaving in such a manner, reinforcing them to the point it never ever happens again regardless of my outside environment…. after all not like the markets would change because im having a poor time of it.

    Anon1 – thanks, i always been hard on myself in that respect as im sure some may in this game, not being honest with others is not being honest with yaself – just gonna create extra problems, in my humble opinion of course. 🙂

  7. Once did 2K in 24 hours on football and horses, and I don’t even trade horses.

    It hurt and it took a while to get over it.

    Just trade small amounts these days as I have no credit cards any more 😉

    But in all seriousness, I thing the anon comment about not chasing big wins is pretty much on the mark.

    Don’t think there is a get rich quick route with trading.

    I’m just trying to build a bank these days with small trades, winning a few quid each week.

    If it keeps growing I’ll eventually up stakes and see where it leads. Small trading like what I’m doing is effectively paper trading, best way I’ve found to learn.

    Unlucky with the loss, but like someone else wrote, it’s good to see someone prepared to speak the truth about losing.

    Good luck.

  8. I know this will be hard to take but to be honest it is probably a good thing that this has happened (in a nice way of course) what would you have done if the trade had won…….. probably done it gain and again until…………. it eventually goes belly up, therefore you have brought to an end a very bad habit very quickly.

    Good luck and keep your chin up

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