If you read the last post you’d know I’ve had a few problems just recently with a snap decision to move address meaning my connection hasn’t been stable. In fact I even mentioned in the post how I was purposely making myself go out in order to prevent me from attempting to trade! I know that was the best idea given previous experience, however yesterday I stayed at home to sort out some personal paperwork etc for the move, it wasn’t long before I thought “I’ll just see what the connections like and have a go” – the biggest mistake I could have possibly made.
After a couple of races all seemed ok, then a sudden stutter in connection close to the off meant I couldn’t close out until the race was in-play. It wasn’t a big issue at all to be honest looking at the results although it spurred me on to do a few more races to get back in the green – mistake number two! Their’s not much else to say other than I feel like an utter fool, a complete rookie error!
You guessed it the connection totally dropped leaving me massively exposed… and I lost around a weeks profits.
Their’s not a lot I can do about this other than learn, it’s just part of being human I suppose! I haven’t had a loss anything like this for well over a year so it was a bit of a shock. I’m fully aware I needed to pick myself back up though and not get mentally blocked or disillusioned, im still confident I can exceed the £100k mark this year although recent events have definitely made it harder!
I’ve managed to borrow a friends connection and get set up for a few days until the new connection is installed so this shouldn’t happen again. “As the saying goes, a lesson not learnt in blood isn’t worth learning”.
I think it’s important that I put this on here as when I started blogging a couple of years ago I said I would always be completely honest and transparent about losses aswell as wins. hopefully you all had a better day than me yesterday!
7 thoughts on “Rookie error – the inevitable…”
Hi Caan, I’ve just started following you yesterday on FB, I hope it’s not a jinx I’ve put on you!!!!!
I’m a beginner to all this really, so i’m going, as you advised, to read up on all I can to get a feel for trading. Hope you get your profits back soon.
Alan
Im sure i will Alan, the biggest challenge for anyone in this situation is to not react badly and get disheartened as it will have a knock on effect. Were all human at the end of the day 🙂
Ouch Caan tough one to take but like you save have to just move on and today is a new day. Good luck with your quest to £100k this year 🙂
sorry to hear that Caan,its been much the same for me this week,i started trading about four weeks ago in simulation mode and was making around 30.00 a day scalping with 10.00 stakes so this week i decided to trade with real money and boy was i in for a shock as trading in live mode is like night and day compared to test mode,the races were much more erratic and harder to get trades matched than it was in test mode so needles to say iv been in the red all week,the lesson to learn from this is if your a beginner like me then trade live but with very small stakes like 50p until you no what your doing like Caan
We’ve all been there and dumped a weeks profit in a race thru some cock up or other and then have to plod thru the week knowing you’ve worked for nothing. My cock ups piss me off on the day but the next day I’ve completely forgotten it. Good to see you logged off and took time out rather than overreacting and trying to chase it back, that in itself shows the sign of someone who knows what they’re doing and will get it back soon enough.
Looking at your averages and consistency you’ll easily hit that £100,000 might be worth looking to reduce PC3 now rather than later
Hey Caan,
This can happen to anyone really – it’s always worth having a laptop or spare machine with one of those internet dongles just logged in as a backup but even then it may not save you. I’m sure you’ll get back on it!
Just to clarify – am I right in thinking if approx. 2k is roughly a week’s income would that mean you would receive 1k for the week AFTER the PC ? Just a bit confused how that works since most blogs etc. mention profits but don’t really go into PC deductions ?
Great blog mate and don’t worry you’ll get straight back on it !
Cheers
Hi Graham,
sure it was a rookie mistake and i knew it. Ill have it back
Your right 2k is about a weeks money for me give or take a couple hundred usually. The PC varies currently i am on 20% so after generated commission thats usually 16 – 18% more deduction on the weeks earnings on a wednesday. However once i go over the 317k gross profit on the lifetime on my account minus the gerenated comms i will be on the 60% band, meaning they’ll take the extra.
Caan