Wow!
I didn’t realize the weather was going to be like this today. If I had known, I might have even taken the day off!
On the downside, trading in this kind of heat is no fun at all. Reflecting on today’s ‘silly mistakes,’ I’d go as far as to say it was counterproductive. I spent most of the day in shorts, flicking myself with cold water and the fan on full blast. It looked like a lovely day to be at the Goodwood festival—too bad I was trading instead.
Today was arguably the toughest day yet. The Goodwood races were very close behind other tracks’ races, which affected liquidity. This doesn’t suit my trading style, and the feel of a constant tug-of-war between traders didn’t help. I made a couple of hideous mistakes throughout the day that just added to my frustration. The heat didn’t help, and by the end, I had to take a small break, which really helped me regain my focus.
It’s been a while since a single result has frustrated me so much. Considering the size of the loss, it really shouldn’t have fazed me. But I think it was more about feeling like I had missed out and made a foolish mistake!
If you’ve read trading in the zone, I’m sure you can instantly relate to how I felt. I can’t recall the exact race now, but it was one of the Goodwood events. I found myself about £80 in profit with an open position. I knew I should have started to exit, but greed got the better of me. I held on too long, and the result quickly turned just into the red.
Here’s today’s tally of ‘silly mistakes’—the worst yet:
-12, -24, -7, -38, -23, -21, -80, -20, -62, -16, -6, -17, -44, -26. **Total = -£396**
I’ll provide an update tomorrow, though it might not be until Saturday as I have my son for the weekend and probably won’t have time between trading and picking him up! Hopefully, the weather stays this nice for the weekend!
Thursday…
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