Tiredness KILLS…. My Trading Bank!

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Tiredness can kill the trading bank
It’s so under-rated. I seem to do it again and again, it drives me mad!
Jumping into the markets when I’m a little tired, and after a hard days graft is possibly the worst thing to do!
I’m working on myself and how I react though…

York Meeting…

It’s been a hectic week with one thing and another although I’ve managed to catch the tail end of most the York races. In comparison to the other meetings they’ve been the most rewarding.
Having said that I don’t really think the markets have been any different to usual though. There’s been more cash turned over obviously, but not enough to make a drastic change. There has been progress in my results though!
I think I’ve changed while trading more than anything. I’m using slightly larger stakes again although feel somewhat more comfortable with them thank previously. The only problem being; using larger stakes if you’re not careful it hurts a lot more (which is then testing on the mind). It’s important for me to remember it’s not a reflection of ability though.
Yesterday about 30 seconds before post I got caught when a whopping £6,000 bet come in altering the market significantly. A while back it would have effected me badly, although yesterday it didn’t at all. This shift in attitude really is helping my trading style.
Horse Racing Trading PL
I’d just like to say I’m ever grateful for the comments people post up. ‘Anons’ last comment sat with me and has helped a little I feel, thanks!
Today there was a blip as you can see above although I put it down to being tired. It happened in the races previous too, as you can see… It’s a shame on the days return as it would have been a nice result without it. The most important thing though was that I did the right thing, having a break immediately after. I think I should also start to schedule into my day between starting in the markets and finishing my day job. Popping straight through the door and sitting down at the screens seems to be a little counter-productive at times. Just because I’m in a rush.
As you can see the profit and loss sheet is a little jumpy. I might be being a bit greedy at times, the tendency at the moment it to try and double-up the green I’ve made rather than protect it. Maybe I’d do well to keep my green instead. Having that green buffer to play with does take a little stress out of trading the market though.
The one thing that has made the most positive impact on results is this attitude shift. I’m keen to explore it some more in order to maximise returns. I just need to be aware of where I’m at now and keep it going a few weeks just to keep my mind solid and believe I can make good money consistently.
Until next time!

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4 thoughts on “Tiredness KILLS…. My Trading Bank!

  1. Hey, I’m new to trading just starting to get a grip of it. I try to make £4- £6 a race and get out as soon as that targets reached. I have been doing OK, the only thing I struggle with is having the discipline to get out for a loss when going in play. I made a profit on every evening race last night but made £100 loss on one race which left me £2 profit after the racing had finished. If I had been disciplined anough to get out for a £10 loss I would have been laughing. I am now going to put a 10 tick stop loss on every trade so I don’t make such costly mistakes. I have also found higher stakes 100-200 helps me achieve my £4- £6 goal a lot quicker. Thought I would share my experiences so far.

    1. Hi Neil, thanks. Discipline is the be and end all at times. Maybe lower your targets a little and it could be less pressure.

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