Saturday 21 March 2009

I Must Do Better

I must achieve more if I am going to make a real go of trading. Considering I was looking forward to trading today my mental attitude was poor for most of the afternoon. I traded with little confidence, I’m not sure why, but all in all it worked out reasonably ok. Although an interruption from a mate during the afternoon put me off my stroke and I did little afterwards.

I was quite pleased with the 14:40 Haydock as I jumped on a swing trade but, with my confidence low, I got out far too early. The main drawback with my low confidence level was I missed so many opportunities. There were too many times I didn’t trade despite the signals being ok for me.

By the time I did throw in a trade in one of these instances it went against me and resulted in the only loss of the day. So I guess profit is profit and ended the day £3.15 up, a bank increase of 1.30%

I have to work on my confidence on the days that it seems lower than I expect. At his seminar Peter suggests that a 10% bank increase daily should be easily achievable. I seriously have to examine my mental attitude to help achieve this, or anywhere near it.

I’m not about tomorrow as I’ve got a family gathering with two birthdays, mine and my Dad and, of course, Mothers Day. Have a good weekend.

Cheers


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8 comments:

  1. Unknown21 March 2009 at 18:40

    Hi,
    Confidence is something you build on, it will not come to you overnight, i am confident that you will succeed,you are going in the right direction, and Happy Birthday.

    ReplyDelete
  2. Anonymous21 March 2009 at 19:00

    Hi andy,i read your post and to me you sound a bit down hearted,we know you can trade by looking at your postings of your p/ls,ok the amounts might be small but as you said yourself profit is profit.Myself i have just blown my whole bank by being a complete cock, and letting trades go in running instead of taking the loss and moving on but going to give it one more crack, just getting pissed off with the two steps forward three steps back all the best .

    ReplyDelete
  3. Ronnie2ticks21 March 2009 at 23:23

    Hi Andy
    1st of all happy birthday for tommorow.

    2nd many thanks for the pdf file you sent me very interesting, i am going to give it a go in the near future and will let you know how i get on.

    3rd confidence comes with time imo, have a read of your blog and make a note of how you have faired, i'd say your confidence from early posts has increased.

    Cheers

    ReplyDelete
  4. TraderGray22 March 2009 at 10:33

    Thanks guys all your comments are really appreciated.

    It's funny you know, after Saturdays trading I opened up the course book at a random page and there was a small passage on managing expectation, perhaps someone was trying to tell me something :-)

    BTW 15 Days since taking a trade in-play!

    Cheers

    ReplyDelete
  5. Anonymous23 March 2009 at 00:31

    A belated happy birthday from me.

    I'm not sure why your confidence is down Andy as your strike rate seems pretty good looking at the last few posts you've made.

    ReplyDelete
  6. TraderGray23 March 2009 at 00:40

    Hi Scalper

    I'm going to check my strike rate this week as Peter Webb gave us some stats to compare performance with.

    Last time I checked it was around 70% so I must be doing something ok.

    Cheers

    ReplyDelete
  7. David23 March 2009 at 20:42

    Hello Andy, I wouldn't kick yourself too hard about the amounts you're making, seems like you're doing OK. I was on the same course as you and you're already doing rules 1 and 2 of money management :)

    All the best

    David

    ReplyDelete
  8. TraderGray24 March 2009 at 18:29

    Hi David

    Thanks for your comment, I'm probably too hard on myself.

    Cheers

    ReplyDelete

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