It’s all over. Day one…
Felt a bit different to how I expected, but still – things turned out okay.
Pressure to Perform: Day 1
One thing I forgot about when posting up the challenge yesterday; doing something like this is like having a spectator over your shoulder, breathing in your ear!
The day started off moderately, the first race being a loss, the second not much better. But still, once I’d settled down into plugging away things weren’t so bad. As I said in the original post here, it’s all about consistency. Picking up profits, bit-by-bit, managing the downside and not exposing myself to too much risk. My trading style has pretty much always been this way; I’d much rather take smaller consistent profits than have a roller coaster profit and loss sheet with big peaks and troughs.
I didn’t take a couple of trades throughout the day on purpose. Purely because I didn’t want to risk putting myself under excessive pressure while ‘performing’ like a monkey for you lot 😉
Starting with just £400 wouldn’t leave much margin for any kind of sizeable errors, so I stuck to the plan. Longer-term readers will know; I’m anti-target setting for the day. But I exceeded the original post’s vague target of 10-15% so it’s considered a reasonable start.
First Day Results:
The strike rate was pretty hot, more so than usual for me. Although I probably gave away a little potential by doing that.
Not sure quite how I’ll come at it today just yet. I’ve managed to knock a cap off my front tooth which looks pretty bad. Emergency dentist booked in for early afternoon so I may catch a few fewer races.
Markets traded: 25
Profitable markets: 23
Losing markets: 2
Average market: £3.46
End result: £86.61
Bank Increase: +21.65%
Individually (bottom to top, left to right):
On the whole, not that much I can say to critique myself. Other than what’s visible in the results I pushed a little harder as the session went on, not necessarily a bad thing but given the overall market average I wasn’t really any better off for it. I think way too many would-be traders do this, pushing for that feel-good result. Sure, the £2 and £3 results aren’t exactly that exciting, but when you team that up with rarely losing you can see how profit builds nicely. Taking those small wins consistently is a far more realistic approach too.
In my mind, and I appreciate it may not be best for everyone as we all operate differently. I will always respond positively (in general) to consistency, I just don’t like the feelings and emotions that large ups and downs bring out in me. I guess I’m only so aware of this due to the amount of time I’ve been doing it though.