[Posted: January 15, 2012]
Win, win, win big loss. Win, win, win big loss…. repeat, know the feeling?
What’s it all about? It can’t be the market all the time. I drive myself fecking nuts with this at times…
Hopefully the new year is proving a little more prosperous for everyone.
So far, for myself it’s not been such a good start. I’m in profit obviously, but there have been a few moments of turmoil this last week or two. It just seems to be the usual repetitive cycle that has caught up with me.
I struggle to explain why it happens; but I’ve mentioned it before if you’re a regular reader. I could do with finding the way of taking myself of this ‘vicious circle’ as it would seem. It’s purely a mental thing, I know it.
Just before new year and towards the start of this year I’ve had some really good results. My trading has improved a huge amount, I’ve had a little over a handful of £300+ trading sessions.
I’m not sure if that’s why, but it’s almost like the profits have gone to my head? Subconsciously I mean…
I’ve mentioned before, once I start to reach a level where I do really well and try to crack on that little bit more – everything goes to shit. It’ll often happen once I start the day by having a couple of £20 – £30+ markets. I try to push that little harder for some better results and it ends in disaster!
This weekend im a few quid down (see below). Although if I work it out I’ve made the best part of six hundred quid this week, a lot has been burn through these blips.
It’s purely a mental thing, as you can see below;
[Not a good weekend mentally – read results from bottom left to top right]
When I’m on-point mentally these things just don’t happen. Frustration doesn’t even cut how I feel at times!
I think im going to drop my bank down and start to build it back up again. Hopefully that’ll help me back to consistency before I end in a bit of a low stage and it really does go pants!
Does anyone else find this happens to them? it frustrates the hell out of me!
I remember “Chris Cringle” on his Christmas trading blog saying he drops his bank at stages to stop him getting in too deep. Can’t help but wonder if this is what he means…. but I want bigger results ?! Hopefully I’ll look back on this at some point and laugh.
Having a good one!
Article: 6 Full-timers give 3 trading tips
3 thoughts on “Vicious Circle, It’s Not The Markets Is It?!”
Hi
nice blog!!! i know exactly how you feel regarding your little predicament above, everything is going well and you feel good, u go to push on and improve and quite the opposite happens.it can be quite frustrating at times and leaves you wondering whats going wrong. it has not happened to me trading yet as im only new to it all but it happens with most things with me so im sure its only a matter of time before it happens with trading.
it used to happen in poker quite alot and i think that subcontiously your brain is telling you that you are not yet comfortable in the €20-€30 + markets just yet. What i found helpful( at least in poker) is to move up gradually by setting myself little targets. it may well help you moving up slowly rather than having the pressure of moving up to quickly.
maybe starting out set ur self a target of trading €20-€30 + markets for 1 hr in a week, than back down to the level ur comfortable at, continue making profit than gradually build to 2/3 hours ect until your comfortable fully with trading at these levels..
the last sentence on your post “suppose its similar to that but i want bigger results ?!” does suggest that maybe you are trying just a little too hard. you seem to know what your doing so relax and build up slowly try not to focus on the profit so much and im sure you’ll reach the bigger results quicker than you think.
regards
derek
You’re just getting too greedy , it’s only natural when you start having decent days and £30+ wins. The problem occurs because you then expect those wins each and every market and if you don’t hit them it feels like a failure so you sub-consciously chase.
You’ve got to take the long term view if you want to make this work. There’s no point in having £30+ wins only to throw them it and more away later down the line, much better to have a consistent £10 a race long term. The trouble is whilst we can get some consistency it’s never going to be that average win per race and there will be ups and down where the bigger wins smooth out the losses.
Look back over you 3 months and see what your average was a race over that period/races, then think how easy it is to make that amount by taking things a bit less stressful. Once you realise you don’t need to win large amounts a race to get a decent income it should hopefully stop the greed where you’re overstretching on at certain times. Consistency is the key to winning but doesn’t mean you’ll ever be consistent over a small amount of races just start looking at the bigger picture.
Hi guys, thanks for such lengthy responses, your both right… i know its linked to greed and its bad as i dont really need to be pushing on now i think about it. Im glad i’ve seen it coming before its took a bad hold this time round as previously it has lead to the inevitable slump of a period before i manage to pull myself out of it again, having taken my bank right down will make me play a little smaller to start so i think ill just try keep going with small wins for now till i feel more comfortable with it all of 3 – 8 quid, after all like you say anon thats still a nice little earner 🙂 thanks for the support, can get confusing when you have no one that relates to what your going through in your trading. Cheers 🙂