…Execution is EVERYTHING
I’m sure almost all of us have (including myself) gone back through Mr Heathcote blog and read just about every post. One post always stuck out in my head with his results.. it was along the lines of average result per day: Jan – £30, Feb – £55, March – £329, April £500, May £900.
Approximately what he had so please don’t quote me but I’m sure you notice the spike… after seeing this I thought is this guy talking crap? is that possible? and for quite a while I thought it was exaggerated… but now I’m certain it’s not. He was obviously just increasing his stakes, rather rapidly too I might add!
Now I’m not saying I’m the same as I most certainly am not. But he could obviously cope with them sort of stakes without it altering his perception somewhat; which takes us nicely back to this posts title. EDGES are ten-a-penny… there’s any number of ways to approach a market and still be right but the ultimate edge is knowing yourself and understanding your own boundaries and more importantly your mind. On top of this having a systematical approach to placing and managing your trades in the markets, it becomes it’s own kind of ‘edge’. And so execution of your move becomes EVERYTHING!
Just look at the race 19.05 above. I was wrong with quite a lot of my decisions in that race, but the execution was good. You might think, so what? you only made a couple of quid, which is of course true. But isn’t a good thing when you make several bad decisions and still profit?
Hopefully I’ll finish early enough tomorrow to get nearly all the Ascot card!
Until the next time folks…
Related Article: Consistency Is King