Saturday 15 January 2011

Don't want to get carried away but.....

I have had days previously where every market you enter goes the right way and you do OK out of it and make a small profit. Today was one of those days, much like yesterday, the problem is I don't want to feel like I am over confident and made out of Teflon- non-stick and nothing will go wrong.
So I ask experienced traders out the if the wouldn't mind making a comment about how to remain consistent without being big headed and then obviously losing, what keeps your focus? Is it the idea of not losing or is it simply the drive to make the money in the first place.

I've got a few thoughts on this -

  • Treat every market as individual
  • Expect the unexpected
  • If it can happen then it probably will.
 They have all been pulled out of trading books along the way, there are more fundamentals that I could list but I will save it for another day.

Quick round up, I pulled in £2.12 today, I did it over a couple of hours in the horse race markets and was quite content when I came to stop, there was many races still to go but I was aware that I wasn't in the mood to keep going, so I think I have beat the demon of 'one more race/one more trade or I'll stop after this one/ or the next one' you get the idea.

Goodluck keep it green

5 comments:

  1. Caan Berry15 January 2011 at 21:52

    I believe the experienced traders have bad days too, trouble is the majority of them will only share their good days... i dont think its a case of 200 a day but more of an average per week/month, some have said they make half their money on a saturday because the conditions favour them. Play to your strengths!

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  2. Mets16 January 2011 at 10:06

    Caan is right, we all have bad days. I've had some stinkers - £80 or £90 lost in a day because I went chasing. That's a lot of money for me, a fortnight's grocery shopping! It's happened loads of times over the last 16 months. You start to think "is it worth the hassle?" but if you've got the drive then you'll fight through it.

    Loads give up the fight - I've got a list of 50+ defunct blogs that have fallen by the wayside. Most were overcome by the psychology of it but once you find your edge and start making good money, the psychology becomes less important and the ambition to find new ways to make even MORE money takes over.

    Hope that helps.

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  3. Paul @ Bet Clever Win More16 January 2011 at 10:29

    Good luck with your blog. I have placed your link on my own http://betclever.blogspot.com/
    Regards,
    Paul.

    ReplyDelete
  4. FxBlogger16 January 2011 at 10:59

    Big thanks guys for taking the time out to reply.

    ReplyDelete
  5. Cassini16 January 2011 at 19:12

    Every market IS individual. Some days everything goes for you, and other days nothing seems to, but runs (good and bad) don't last for ever. Don't chase when you're losing, and don't get carried away when you're winning. Stick to the plan. If you have an edge (and if you don't, you shouldn't be betting), the profits will come.

    ReplyDelete

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