Wednesday, 2 December 2009


Horse Racing
Unit stake: £4.96
Session P&L: £7.30
Average market P&L: £0.37
Racing Bank at end of session: £56.55
Unit stake for next session: £5.66

A good start to December. Traded listening to Timeform radio (thanks for the suggestions Rick) for the first time today and it gave me the confidence to trade right up to the off. I broke one rule of having more than two trades open on 3 separate occasions which made me mad at the time. Looking back though these errors were all made in the last 5 races, and it is obvious to me that I was tiring and consequently losing my discipline. I'm accepting losing trades much better than before but I'm determined to keep drilling in these rules and not let up just because I happen to make a profit on the market. At the same time though I'm also aware of the dangers in having a perfectionist's mindset. As with many things it's finding the right balance. Overall though I feel slightly fortunate, as although I worked hard, I did break a rule more than once and got away with it. Up until that point things were going pretty smoothly. My focus time has improved as I managed three and a half hours trading with no proper breaks. I think if I had a couple of breaks I might not of tired and made those errors towards the end. Something to put right tomorrow.


Mets said...

Showing some super consistency there JS

neil said...

Hi, how do you get such a phenomenal strike rate? the last 2 pnls u posted u have 2 losing markets out of 40+. I dont see how u can be scalping as these markets are so volatile, any hints as to what u are doing?

JS said...

Don't think I'm in a position to really be giving advice! I'm still learning every day I trade. You are right though, ever since I've stopped trying to scalp every market things have gotten better.

Mind Games said...

I agree with Neil, that strike rate is phenomenal! Your return on stake is really high. Good stuff.

JS said...

Thanks dudes. After about 1000 races I think I'll have a much better idea of what my true strike rate is (should take a few months at this rate). I'm happy with such a good start though!

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