Bank: £357.48
I made a total of 15 trades today. Only two of them were losses, but both losses only amounted to £3.42 so was more than happy to take it. My biggest single trade today was for £22.42.
I won around £7 last night on a short poker game so that equates for the rest of my profits from my previous post.
I started off this morning differently. I got up a bit earlier than usual and got a few bits and bobs done, so i didn't have other things running around my head whilst trading. Looking back on it today, i was in a much more relaxed mood and wasn't being greedy what so ever. In some races i felt that i could get more out of them, but i just convinced myself to stop and grab a quick drink of water and go analyse the next race. By doing this i had plenty of time to assess each market and pick my strategy before the 5 minutes left till the race mark. (The time in which i prefer to trade) by doing this i found myself in and out of the market with at least 1-2 mins to spare.
If i can keep anywhere near this mark up i will be on a roll. I'm not going to get cocksure of myself as i don't want to chance any stupid unnecessary losses.
On a side note, i went to see Dara O'Briain today in the Hammersmith Apollo. The guy is a fecking genius! I truly recommend going to see him if you have the chance.
P.s. The new Fifa is completely different to the old one!
Not sure if i will have much time to trade tomorrow as i am off down to my girlfriends mum's house as it's her birthday, but i may just try sneak a few in! Also i'm in a poker tournament tomorrow night to possibly win a share of $65,000. So things are looking decent.
Another quick note: i'm on the fence as to whether i should withdraw some of my winnings just incase, would like to hear any suggestions.
Ciao
No point in withdrawing just let it compound for now. A £350 bank is small and only takes a bad trade to drop a hundred or so.
ReplyDeleteYou're doing very,in fact unbelievably, well from your bank so ride the wave for now and maybe up your stakes a little keeping back £100 out of the firing line.
Well done but it wont last. To achieve those figures in proportion to your bank you are obviously overstaking on the back side. It is a good way to boost your bank quickly but also is a good way to lose a bundle. Stick to equal amounts on the back and lay side. It'll take a little longer to achieve your target but you will achieve it whereas by overstaking you run the risk of losses that are'nt in proportion to your bank size. It is just constructive critisism and the 1st rule of trading is capital is king. Protect it at all costs. All it takes is the trader with £20k to step into the market and you be on the wrong side of it a couple of times and you could quite easily lose double what you made today. And we all know where that can potentially lead because we've all been there. Anyway, rant over and good luck.
ReplyDeleteThanks for the "rant" mate appreciate it. At the moment i've been sticking to the same stake's depending on the odds. <2 = £100 <4= £80 and so on. To be honest most of my trades have been on the back side but if i do spot a lay opportunity (on odds mainly under 3.5) i do use the same stake. I've dodged a few 20k trades thankfully but can certainly see where it could go wrong drastically! But i do think that by sticking to my rules and keeping my manual stop loss to 2 ticks, my losses will be marginal (unless of course i do get eaten up by the 20k trades). I've also started to dabble on the in-play market's on longer races only with small stakes but can certainly see a profit coming from it with time.
ReplyDeleteThanks for your comment though will certainly take it on board.