Tuesday 14 April 2009

A Lack of Discipline Costs

Looking forward to today I got off to my usual poor start which is always the case when I feel more confident!

It wasn’t really a lack of discipline, more looser disciplines in two of today’s races that cost me. I’ll let you figure out which two.

I pushed many more trades through today than I would normally and, I suspect, a lot less than most traders. I totted it up and I matched just over £1K at £10 units making 102 trades.

Trading normally it was ok, if a little haphazard, but in general seemed to go ok. Unfortunately I caught myself thinking of chasing the losses from the first 4 races and it clouded my judgement resulting in the £5.41 loss in the 14:50 Yarmouth.

The £6.68 loss later in the day was really due to me “mucking around” and I should have known better, but never mind, you live and learn. Overall I produced my first losing day for a while with a loss of £11.74 and although I’m unhappy about the loss, the actual trading went ok.

I subscribed, for a month, to RUK today and it’s obvious that I really need another screen to help remove some of the clutter on my single 17” flat panel monitor. If I remember, I’ll take a screenshot tomorrow while I’m trading just to show you what I mean.

With the RUK subscription, I now have to learn what I’m looking out for, any tips anyone?

Cheers


2 comments:

  1. I had one of those 'mucking around' days too.

    Done some pre race trading, a few bets in running as well as keeping an eye on the tennis between Safin and Hewitt.

    I just wasn't focused at all.

    ReplyDelete
  2. Hi Scalper

    I think I got a bit frustrated at the level of wins (ie pence, not £££'s) I'm better today.

    Cheers

    ReplyDelete