Trading Diary

[ShaunWhite]

SHR,

I can't help noticing how much you post on the forum during the afternoon's racing. Seems like a massive distraction to me? Why are you even thinking about things like stewards decisions ???

I was always under the impression you traded pre-off, not in-play? If that's the case, then trade the race, gates open, hit mute/change channel, trade the next, repeat.

When you've cracked ALL your problems than maybe you can enjoy watching one or two races, but the idea of watching a horse race and chatting about it while you're supposed to be at work is crazy. Trade OR watch horse racing.

..i'm writing this because i'm not trading today. I'm not good enough to do both at the same time.

Tough love dude but it looks like you're mixing business and pleasure.

[SeaHorseRacing]

Quite irritated with myself. Some desperate trades today.
Quite nervous trading and taking losses when I shouldnt of would have had 100% strike rate if I was more relaxed. Tiny profit and hopeful I can relax for tomorrow.
3 very poor trades. Overtraded. My aim is to simply break even by the end of the month and face these reds and move forward.

It is really strange using £5 stakes. Im happy so far and will finish the evening on practise mode.

[ShaunWhite]

Don't be irritated, be pleased. You've had what you've recognised as a bad day and broken even.

So on £5 trades....two lost £2 (40%) and one lost £3 (60%)...only done 15 markets, and broke even, that's a result!. Think about what you did right not not what you did wrong.

Take the evening off on a high to let you brain soak it all up....rather than f'ing it up on dog bingo tonight.

[SeaHorseRacing]

Don't be irritated, be pleased. You've had what you've recognised as a bad day and broken even.

So on £5 trades....two lost £2 (40%) and one lost £3 (60%)...only done 15 markets, and broke even, that's a result!. Think about what you did right not not what you did wrong.

Take the evening off on a high to let you brain soak it all up....rather than f'ing it up on dog bingo tonight.

Cheers mate.

[steven1976]

Going to be a big weekend

[SeaHorseRacing]

Going to be a big weekend

It is your right, Fairyhouse on Sunday looks pretty special too.

[iambic_pentameter]

SHR

Thank you for taking the time to post on this thread - I admire you for being so honest about your situation.

If you take out the losses over £2, that would have been a pretty decent day - based on stake size.

Are you using £5 stakes or more than this?

But, as ShaunWhite said, you finished positive so that's a good result given what happened earlier in the week.

Hope you have a good (and green) weekend.

Iambic

[SeaHorseRacing]

SHR

Thank you for taking the time to post on this thread - I admire you for being so honest about your situation.

If you take out the losses over £2, that would have been a pretty decent day - based on stake size.

Are you using £5 stakes or more than this?

But, as ShaunWhite said, you finished positive so that's a good result given what happened earlier in the week.

Hope you have a good (and green) weekend.

Iambic

Thank you.

I was using £5 stakes and on some races using 3 batches. For examble with the odds on runners I was staking £10/£20.
All three of my losers were on bigger stakes but generally I was using £5 on the majority of the races. trying to protect my bank.

Yes really screwed up on those races should have made £7/8 quid today which would be a decent day on ROI.

[ShaunWhite]

Remember you're not trying to make money this month...just not lose it. +23p or +£8 is irrelevent just now. So forget about all that, it's making you think negatively about your day!

Goal set, goal acheived, job done, big gold star for SHR. Relax and come back to work next week after a nice weekend off watching the sat/sun racing.

It's a challenge all of it's own trading fivers...staying focused and caring about pennies. I see you're already straying into the 10s and 20s... and it's only Dec 2nd ! One fiver in, one fiver out for now. Yawn.... Then after a week, maybe 2 fivers in/out. One type of market, Monday-Friday horses.

SHR I feel for you because you know all this and it must get bloody irritating having to keep hearing smart-arses like me telling you over and over again.

[SeaHorseRacing]

I am so grateful for using such small stakes. I have learned so much in last two days then probably the last 2 months.
Again I traded really well today at times, then at times very poor. Being a Saturday it was really painfull but I managed to pull through. The same repeat as yesterday where I just had lots of red at the end of the day. I can feel myself getting frustrated because I was only a few quid up after sitting at my desks for hours and in return my results had an effect.
Agin no problems with my strategies, 1 market I got wrong the rest of my losses were desperate trades and frustration which resulted in poor focus and not taking profits.

Everything was going well Until the 3.00 Sandown. Layed Un De Sceaux pretty much at the bottom I was being so bloody greedy and just sat there until it come all the way back. Soon as I scratched it my clsong orders got matched at sp inplay, from there on my trading went down hill. Took a breather before the last race stuck to my plan and stuck with my stakes and got a nice move in the last.
I reallly need to detach myself from the results. Happy I have some answers to work on.

Again I know its ifs and buts but should have made £4/5 today and considering my very small stakes would have been pretty decent.

[dannycutts]

a profit is a profit....

I was way up today then completely screwed up and lost £84 then managed to just end the day with £11 loss... I am up overall for the week so not too bother

[Bluesky]

I know we are only looking at one days results here, but I wonder if you are getting tired after around 3 hours non stop trading the markets. You started around noon, and then in the 3 to 4 hour slot you had four out of six losing trades.

Have you looked over your records to see if this happens often, or is this fairly rare for you?

If you find several instances of you having more than your usual amount of losses in the last hour of trading, cut the hour out, or take a break part way through the trading day.

I am sure I am not the only person who enjoys reading your diary, if hard work and effort are all that were needed then you should succeed, unfortunately its not that simple. A few lucky people seem to have the right mind set right from the get go, the rest of us have to really work on achieving it.

[SeaHorseRacing]

I know we are only looking at one days results here, but I wonder if you are getting tired after around 3 hours non stop trading the markets. You started around noon, and then in the 3 to 4 hour slot you had four out of six losing trades.

Have you looked over your records to see if this happens often, or is this fairly rare for you?

If you find several instances of you having more than your usual amount of losses in the last hour of trading, cut the hour out, or take a break part way through the trading day.

I am sure I am not the only person who enjoys reading your diary, if hard work and effort are all that were needed then you should succeed, unfortunately its not that simple. A few lucky people seem to have the right mind set right from the get go, the rest of us have to really work on achieving it.

Thank you for a massive eye opener. Although I cannot say for certain that it is tiredness, just taking a look at my results and some of my worse trades have been at the end of the day. So I certainly need to look into that. I doubt I can find the exact answer but it is something to do with the mind.
My strike rate is roughly 75-85% and I have been that consitant for a good fare while.

My daily routine involves healthy eating, 45 minutes of fitness and meditation and my focus has gone through the roof over the last 6 months.

You are certainly right about the mindset. We all have different backgrounds and different jobs and I strongly believe that certain personality types could pick up betfair trading and smash it out of the park in about a year. Especially a finacial related job background.

Alot of my mistakes are from desperation of not finding an opportunity, trying to make opportunitys and a slip in focus. However, my results and bad habbits are improving.
My improvement in life alone has dramitically increased.

I could sit here and trade with a 3k bank but my objective is to become better at trading, I am trying to master myself and the only way to do that is to a) remove the pressure of making money and b) with the little funds it is teaching me the discipline and money management skills to be were i need too.
I have 5 months to get there. If I only have a £300 bank by then that is fine but I must show longgevity of money management and discipline to be there.

Theres a lot of advice on the internet and I stand by that most offering the advice cannot manage their accounts. I have shown that I can have a high strike rate, if I was using £500 stakes I could fool anyone that I am a trader.

I just wish I could go back a year as I would start differntly. Wasted too much time learning about the markets which would have come just from doing it. Now I can trade but I am struglling with my thoughts and habbits which is counter productive because my mind knows where the markets going yet I cant utilse it at all times. Just like an old guy in a wheelchair, all the info is upstairs and full of life but paralyzed.

I will break these habbits.

[DRED1]

[Quote]
Theres a lot of advice on the internet and I stand by that most offering the advice cannot manage their accounts.
Never been a truer statement than this

[SeaHorseRacing]

I made a few quid today so I am pleased about that but, again a few trades were pretty appalingly traded. My strategies are fine just a few fights within me that caught me out and let me down.
Really working on my bad habbits and tring to replace them with good habbits.
Really shouldnt have lost a race today at a push maybe one. Some races I never maximised my profits.
Using the same small stakes and pushed a couple when I was fairly confident but managed my account throughout the day and stayed level headed.
Had to scratch a few good trades again too, lots of big bets smashed around today.