Freak Accident?
Unfortunately it’s probably not… but there’s no point ‘crying over spilt’ milk as they say.
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So the plan today was to start nice and steady building up into the markets. If you look at the graph above that’s the days results over 40 markets, I started steady and consistent taking up to £5 out of each race. Then; if I’m honest, I got a little bored (and greedy).
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Having caught a nice swing on one race with that £14 win early on I only put £150 through the market. From there onwards maybe I was a little over-confident and also looking for bigger greens… which is all good stuff, although I massively over-staked on a fav laying it for £600 shortly afterwards… double what I usually allow myself to put in at this stage.
What Happened Next?
You guessed it! from there it got smashed so hard I couldn’t get my stake out until literally 8-10 ticks later, loosing £53 in one hit.
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I guess it’s to be expected when you break your own rules. After I took a quick breather and cracked on, looking for that consistency again. It played on my mind for some time afterwards but I eventually managed to find my flow towards the end of the day, as you can see finishing with £38 more than I started. it could have been worse I suppose!! Towards the end I started to up my stakes marginally although across the board instead of erratically earlier in the day. On the whole, excluding the ridiculous mistake, the markets felt to be trading quite well.
What Now?
I think I let it get to me a little today too at points, maybe because of the early mistake. When I was right in my decision I found myself getting in too early, or out too late. We can’t always be right every time I know but there was certainly some easy profit left on the table.
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I got out on one drifter at 1.85 only to watch it continue to 2.12. Hindsight is a great thing but as soon I got out I knew it was too soon. Working on being patient at times is important as this sort of thing happens quite a bit in my trading, but knowing myself I can see it’s just part of my personality.
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Churchill downs action with the Kentucky Derby tonight. I think I can bend my no US races rule a little for this one. Liquidity will be far higher making it more like a UK race. Obviously there’s still money left in some of the US races but it just seems like a lot of effort for not so much returns…. (in-case you was wondering why I have that rule – not to mention the TV delays)
Related Post: Crash & Burn – Last Chance Before Quitting
2 thoughts on “Saturday… SERIOUS Pain, Grr!”
You need to stop looking at things in too short a time frame all the while because it always leads to overreactions. Tradings more of a long term thing so don’t worry about getting in and out too early you’ll never hit those optimum entry points it’s just impossible. You just have to hope whatever you’re doing is right and will get a profit over a large number of markets. Most of these errors will balance out over time as long as you don’t overreact and start overstaking /chasing etc when something goes against you as I’m sure they’ll have been plenty of times when your errors/overstaking has gone your way.
Just stick to the plan you know you can trade and you’ll get there in the end, just be alot quicker if you stop being so hard on yourself for every little error.
Thanks again anon, i take your comments on board every time. Very wise.. since this post i’ve been trying not to be harsh on myself and it seems to be paying off