My losses today are the worst I have seen so far this week, I am meant to be getting better not worse but I am going to stick at it and see if I can learn from my mistakes and one of the main mistakes I make is that I let my losses run then cut my profits short or I let my profits run into a loss.
So from this i need to work out why I am doing this and why I cant seem to get out of a trade at the right time or at the very least see why I am staying in a trade. I think one of the reason I stay in a trade is because of greed and always chasing a loss. Whether that loss is from today or yesterday it is still a loss.
I am still not going inplay so the losses are manageable but they are unsustainable at this rate. Things need to change and they need to change quickly.
I do feel like I am progressing though in a weird sort of way but I feel like I am in the same place I was a few weeks after I started trading so I need to keep cracking on and trying my best to turn a profit at the end of the day. I am not worried if it is just pennies profit I need it to be green more times than it is red.
Trading the horses is one of the hardest things I have had to do to get my head round and I have done some challenging things over the years. One of the worst things is you have to spend the time when the markets are on and not when you want to.
It would be very cool if you could practice with a bundle of pre recorded races or something so you could be practicing at night then when it comes to live markets you could play with real mon4ey,
Anyway I will be back on the markets on money and we will see where we go with that. in the mean time I am going to try and learn a bit more about why I am losing money rather than making it.
Forgetting to green out was a massive mistake today on the last race… £15 loss on one race… I had shut down betfair and forgot that the servant wont run when it is not on… ffs!!! Expensive costly mistake.
We live and learn or at least I hope I live and learn.