Doubles

I realize that my losing markets almost always come in doubles. Means if I lose in one market about 70-90% of the time I lose in the market afterwards too but start winning again after that one. You can check with my P/L statements.

Please feel free to comment and help me out if you know this problem and have an idea what psychological patterns are involved here and how I could start getting rid of that problem.

It has to have to do (?) with subconsciously trying too hard to make it back in the next market, don't you think?

Thanks guys.

Bla

It's bla day. Not a lot to say except that

a) Todays markets were a bit crazy again. Especially Market Rasen was terribly sick from time to time. Some guys were having fun bashing the markets ups and down.

b) I did not do a lot better in the end.

c) I have already been up almost 7€, which is completely crazy as it is a weekday. But I ended up losing most of it right after I knew that I am 7€ up and I should quit or I will lose it again (what the fuck!?)

I really felt good being up 7€ after that terrible day yesterday. I would have only needed to make a steady 5€ on Friday and Saturday together to reach my week-positive goal again. After losing it again I felt a bit crushed to be honest.

2 more tough days to come. Tough because of my current state of mind.

Result: +2.48€

You get what you deserve

Today I fucked up big time. I never quite got into profits and took a loss of about 3€ in the last race which I then let go in play with 3 or 4 positions open (although I never want to have more than 1 or 2 positions open). The horse went against me like hell. Time to point out my mistakes again:

- Opening too many positions due to

a) too small gaps between positions & getting caught by big bets

b) chasing

- letting it go in play over and over again although I made it a rule for me to never let it go overtime unless I have pictures

- not looking at the big picture, taking bad positions just to get involved. Patience.

- losses still come in pairs

- not reacting quick enough, not scratching quick enough

- having a problem in distinguishing when a position that turned against me really (objectively!) should/could come back and when I only hope it does, telling myself

"This is crazy. It shouldn't be there. It has to come back. Thats all just fucked up today. Completely crazy. It really should ...."

And then i lose >5 ticks instead of 1, 2 or 3.

Somehow I am a bit off track lately. Sure, the markets are crazy at the moment. But I am definitely not doing my best. Not even close. Need to get my head straight. Of course I quit immediately after.

Ending this week positively will be tough.

Result: -13.88€

What can you do in one hour?

I'll make it quick. Today I only had 1 hour to trade. Before that I was in the forest with my girl, after that food was ready. Well .... ;-)

I did quite good but as usual I had to make a last-moment loss before stopping ;-)

I did get a bit lucky though, the result is not 100% earned. Trading sloppy, letting it in-play and making like 50 cents or so from the horse starting off badly.

I'm a bit too relaxed lately in terms of letting it get in play.

Result: +1.48€

Difficult Saturday

Besides having the usual PC problems forcing me to reboot every 5 minutes I had a tougher day trading today. I'm not exactly sure If I was not disciplined enough or if the markets were somehow strange today. But my P/L which shows that I make good returns in most markets reveals that I definitely had a few big losses too much for the day.

Usually it was unexpected big bets hitting multiple positions again

st me. I definitely need to work on that and have bigger gaps between positions, except of course in pretty stable markets.

Also I got 2 markets where I just couldn't get anything right and started chasing after that. This usually doubles the losses. If you use the time to refocus, reevaluate and get into good positions again, then you usually could make back those losses again (or at least not increase them!). Gotta work on that too.

Besides that, nothing special. I know how to make money. That counts. Lets just work on the mistakes a bit more.

Result: +2.75€

Rusty Friday

Well, today I traded a bit again. I did 17 markets in total. I started pretty wildly hitting two big winner markets, then 2 big losing markets etc. I actually felt pretty rusty. Its just not good for trading, especially when you are just learning, to stay away from the game for over a week. But after the first hour or so, breaking even, I quickly got back into the game.

The markets have been pretty stable today and I got a few of them quite right. If you are not fit or you haven't traded in a while, then all those flashing numbers etc. completely exhaust you. You actually have an information overflow.

But thats gone for now. I made profit again today and I will definitely profit big time tomorrow!

Result: +4.25€

PC Problems

Hi,

just a quick note that not my discipline failed but my PC. For the last days I have been trying to get it back together but I can't seem to figure out what causes my PCs problem.

I traded on the 19th though, after fucking around with my PC. When I realized that racing already had started I quickly jumped in and started trading. It proved to be a mistake, of course. After 2 markets I was down -1.61€ trying to make something happening. I quit after that, knowing that I would just throw away my money should I continue.

My next trading day will probably be Friday, 27th. So I will have to adjust my goals a bit, they would be unrealistic now ;-)