I wouldn’t normally post again about a previous day but yesterdays episode has really been bugging me. I’ve just started work and I’ve got some time in the office before I’ll be “bothered”.
I wrote yesterdays post rather quickly and I see I forgot to mention that my potentially disastrous lay trade actually went on to win (Kayf Aramis in 16:30 Chepstow). Now the whole episode has quite literally scared the crap out of me and I’m only playing with small figures of £26 per trade.
If, as is my target, I was playing with larger amounts, say £1,000 trades, this liability would have been closer to £4K and that is what scares me, how will I react in a similar situation?, will I have the discipline to close at what would be a small percentage loss by comparison, but much greater loss in £££’s?
Fortunately, I believe that I have much more to learn than other, more seasoned traders, have probably forgotten and I expect that dealing with these episodes probably becomes more like a hazard of the job rather than the major issue it has for me.
I’m still not sure if I will trade on Friday but as I don’t always have the opportunity to trade at the weekend I probably will.
Sorry to bore you.
Cheers
Daniel Kahneman RIP
4 weeks ago
Firstly your not boring us,i have been in a similar situation and i was s--ting myself, you know you are doing something right as you are making consistent profits does not matter large or small profit is profit my problem is i lack the confidence to trade large amounts,i make £2-3 pound per trade do this 14 times on a saturday and i am a happy boy chin up mate.
ReplyDeleteCheers Playslip
ReplyDeleteBetter today, not perfect (yet), but better :)