My first trade was entered with the wrong (a very carefree) attitude, not just dropping an entry point in the market, but with some thought behind it. It went against me so I cut out, got back in again, went against me, cut out, etc. etc.
I was actually quite pleased at just a £0.60 loss as prior to my current regime I would probably have left it run a bit longer and got into further trouble. The next race I approached with extreme caution but, again operating good discipline I ended with a £0.27 profit, nearly 50% of the first race loss.
The next few races went ok, nothing special but it is my trading ability that I am trying to improve, not so much the profits.
The 16:30 at Catterick is where I may have found myself on the edge of this “zone” you hear so much of. I didn’t actually notice at the time but, looking back, I was totally focussed on what was going on and with a high level of concentration I almost seemed to place my entry and exit points in “harmony” with the market.
This all probably sounds like bull but honestly, when I look back I don’t think I was aware of anything going on around me, just a total focus on the job in hand.
So then I felt invincible, a very bad move, and screwed up the next 2 races and ended losing half of the previous race gain, although I did recover both from poorer positions. Despite all this I did manage to pull a profit of £0.45 today, a 0.31% ROI on my back traded £143.00.
A good trader, I’ve read, does not focus on the previous 1, 2, 3, 10, 20 or 50 trades as each market is capable of offering something new and different to any previous market. Remain focussed on what you have to do, you can influence that. Learn from what you have done as you cannot change it, no matter how hard you try.Jeez, Am I getting philosophical? It must be time for bed.
Cheers All
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