Wednesday, 18 November 2009

Lucky Luke

Racing bank at start: £29.33
Racing bank at end: £32.40
Unit stake for next session: £3.24
Average market P&L: £0.24

Again it felt like tough work today. After the last race I needed to go for a walk and get some fresh air to clear my head. I got more involved in the markets by trying to formulate an opinion on what will happen in the 10 minutes before the off, before actually placing any trades. I think this helped with my resolve but It did take up more energy, which explains why I felt so tired after just over 3 hours of trading.  I also feel that I was fortunate again on a couple of occasions and it's almost a miracle I didn't have a losing race today. Particularly the last race where I botched it up and ended up in a large red about 4 minutes before the off, after which I redded out and carried plugging away with the view to reduce the deficit as much as possible. A large order gave me a nice 4 tick swing which resulted in a small green in the end. Still, as I've had a few go against me in the past, it might just be karma evening things out. I was particularly happy with the way I traded the 14:00 Lingfield, I felt very relaxed and reacted quickly to the opportunituies. I think out of all the 13 markets that was the only one where I felt like that, still working on how to encourage and sustain that state for longer. Trouble is as soon as you're aware of it you start losing it, and before you know it you're thinking more about your state of mind instead of focussing on the markets. Evidently this is still a work in progress!

Will leave it at that for today as I'm busy this evening, shame as I would of liked to give the evening card a go particularly as there are two meetings. Friday will hopefully be the next day for more trading.


goodoldandyburt said...

Just want to say thanks for the blog - and that your P&L figures look exactly like mine when I started 6 months ago. You have the discipline!
I moved my stakes up to £20 from £2 and found no difference in success rates. I would say you were ready to do it.

Good luck

JS said...

Thanks a lot mate. I'm really tempted to do so but I also have plenty of areas I need to iron out at the moment, I think whilst I'm still learning I'll increase stakes gradually - and my discipline still needs much work, trust me! Best of luck to you as well and thanks again for stopping by.

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