I seem to have too many interruptions at the moment and, coupled with my erratic working hours, it makes it difficult for me to trade with any decent level of concentration. I’ve said before that I work nights, starting about midnight and finishing about 10:00, and I like to get a few hours sleep before I trade.
The last couple of weeks I’ve been finishing later, as late as midday, and to get adequate sleep before I trade means I’m not getting up before mid afternoon. I also like to spend 30 minutes or so doing my “trading homework” with a cup of tea or coffee before I actually start trading.
A typical example of how I’m affected by lack of rest etc. is Thursday this week, no major loss but a loss all the same. When I’m tired I tend to let the losing trades run a little longer than normal and whilst I can regularly trade to small profits a single poor decision can cost me 2-4 races profit.
By poor decision I mean my indecisiveness in exiting a trade quick enough, though today my speed cost me. I backed Titus Andronicus (16:05 Musselburgh) at 3.00, which momentarily dipped to 2.94 and I traded out at 2.96. I then had a quick glance at the next race, came back to the 16:05 some 30 seconds later to find Titus at 2.74, ah well, such is life.
Anyhow, for the week I’ve managed a net profit of £1.05 on a turnover of £296 which gives me a % return of 0.35%. Now if only I could turnover £1,000,000 per week :-)
Most of you have probably read this already but if you haven’t then you must read Adam Heathcote’s post on entry points, it contains some excellent information for trading. I, for one, will be reading it on a regular basis.Anyway, whatever you’re doing this weekend, have a good one.
Cheers
No comments:
Post a Comment