Today wasn’t quite as enjoyable as yesterday’s Royal Ascot trading although it could have been far worse!
Here’s a quick update about my experience with day two…
Trading Day #2 on Betfair Exchange:
Trading is all about adapting to the situation, which makes these large meetings difficult for new traders and sometimes good ones too (I’m only 36, so don’t let the lack of hair deceive you).
Today I just couldn’t get into the zone quickly. The markets were decent and turnover was as expected but several times I found myself on the wrong side of a large position.
It’s really annoying when you’re keen for the day’s action and this happens but it could have been far worse. I had two losing races at Ascot and the feature’s result would have been a lot bigger if it wasn’t for a late flurry of cash. Part of that was my fault for reacting slowly.
I suspect the searing heat took its toll on boozy racegoers so I was quite happy to be at home. Betfair invited me to one of their fancy enclosure things a couple of years back and it was great, but being in that heat would have been unbearable (especially in a suit).
When I had some hair left…
Onward to day 3…
It looks like it’s going to be a cracker and I’m ready to get stuck in, I’ll be focusing on managing risks and adapting to the situation at hand. The most frustrating thing about meetings like Ascot and Cheltenham is that, by the end of the week, you’re on form – and then it’s all over.
I previously mentioned an exercise about how you can assess your trading weak spots and efficiency. It’s well worth doing that for this week if it’s your first time, I’ve been keeping track and intend to pour over the data tomorrow morning.
Good luck if you’ve taken the day off to trade, and even more luck if you’re braving Ascot in a suit and tie tomorrow!
Related: Royal Ascot Day #1 Trading Results