Monday 13 April 2009

Caught the End of the Day

I just managed to catch a few races at the end of today’s racing.

This is the first Bank Holiday Monday that I’ve really looked at the racing and I found that the proliferation of races seems to muck up the markets a little. They appeared, to me anyway, quite unstable at times with the money arriving at varying times before the off.

I also skipped a few races using the -Ctrl-Shift-N- in Bet Angel to move between them when the races were scheduled at the same time and I possibly missed some more tradable races because of this.

However I managed a meagre £0.56 in the two races I traded and I guess this is ok, a bit of profit but no losses!

I am hoping to get a reasonable go at trading tomorrow with, hopefully, a bit more time available to me. I intend to try and push more trades through the markets and see what happens.

I need to see a major improvement in my daily profit figures and in order to measure my progress I am considering setting a daily profit target, or % profit target. I’ve read in some other blogs that targets are not necessarily a good way forward. I’d appreciate some views from any readers on setting targets, whether you‘ve used them and whether you’ve found them useful to you.

Also I am considering either RUK or ATR, with both at £9.99 per month for the online subscription I would appreciate your views on both. I am told that ATR have many adverts that sometimes interfere with pre race trading and they run up to 14 seconds behind “live” but that is all I’ve been told.

As always, please feel free to comment and constructive criticism is most welcome.

Cheers


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3 comments:

  1. Rob The Builder.13 April 2009 at 20:46

    I'd avoid a target. It strikes me that you're a cautious trader, and one who loses confidence when things go wrong. Getting behind a target will only give you something else to get stressed about! I abandoned a target myself recently, check out my post of 4th April.

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  2. Cascot14 April 2009 at 02:24

    Andy,

    I would strongly recommend you don't set yourself any specific daily targets. Setting a general long range target is fine, but any daily target will tend to see you fail to achieve target too many times (which may lead to negativity), or it will tend to change your feelings about trades if you are chasing your target (late in the day or after a loss which has knocked you back a bit). Introducing such a bias when assessing a trade opportunity can only be a bad thing.

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  3. TraderGray14 April 2009 at 19:29

    Thanks Guys

    I appreciate the comments, I'll leave the targets alone, at least for now. I'll get to learn more about trading before I get any grandiose ideas.

    Cheers

    Andy

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