Hey Rhys! Dont let the b*ggers get you down, its only 2 weeks wages, there's another 50 weeks in the year to get it back! And hey - no boss, working from home etc - £1200pw - life could be a lot worse!
Glad i found this thread as I have been playing bit close to the wire recently and let one trade go inplay yesterday - I was lucky and got out break even. Today I will be closing all trades 30 secs bfore the off and moving on!
Oops just lost £2300
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
Just had a shocker of a cock up myself - sat here having laid the favourite, still 5 to load, looking for a few more ticks then SUSPEND with still 4 to load.
Something withdrawn?
Nope its gone inplay - WTF?
Then it dawned on me, my Sky box wasn't live, I had rewound earlier and forgot to exit Live Pause
No serious damage done but a nice green missed out on
Something withdrawn?
Nope its gone inplay - WTF?
Then it dawned on me, my Sky box wasn't live, I had rewound earlier and forgot to exit Live Pause
No serious damage done but a nice green missed out on
Well, I just lost another £1500!!!
No Sh*t, honestly, I can't actually believe it.
I guess I didn't learn from my recent disaster. I'm really messing things up now, I need to sort my head out.
No Sh*t, honestly, I can't actually believe it.
I guess I didn't learn from my recent disaster. I'm really messing things up now, I need to sort my head out.
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andyfuller
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- Joined: Wed Mar 25, 2009 12:23 pm
Yikes - sorry to hear that 
Did you go inrunning again?
Did you go inrunning again?
Yeah In running again. I'm a 100% idiot. Just trying too hard to make more money. I've actually been doing well in between these huge losses as well, safe to say I'm in for a losing month though and that is something I thought I'd never see.
I'm going to just use a 1k bank for a few weeks.
My Girlfriend is working her ass off with overtime to get this house deposit together and I'm losing loads of money! I need to pull myself together.
I'm going to just use a 1k bank for a few weeks.
My Girlfriend is working her ass off with overtime to get this house deposit together and I'm losing loads of money! I need to pull myself together.
Blimey Rhys, you'll be single soon
It just shows why we've seen so many threads about the psychology of trading!
Even for full-time traders who have been successful like yourself, if you're not in the right frame of mind then things can go tits up very quickly
I think you need to go back to basics mate & analyse what you used to do so well before your bad run
It just shows why we've seen so many threads about the psychology of trading!
Even for full-time traders who have been successful like yourself, if you're not in the right frame of mind then things can go tits up very quickly
I think you need to go back to basics mate & analyse what you used to do so well before your bad run
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
rhysmr2 wrote:Well, I just lost another £1500!!!
No Sh*t, honestly, I can't actually believe it.
I guess I didn't learn from my recent disaster. I'm really messing things up now, I need to sort my head out.
Ouch, looks like you're in chasing mode trying to get the losses back too quickly. In that race there would have been plenty of opportunities to green out on the winner if you'd laid it. Always hard to detach from a big loss but by the looks of your wins it won't take as long as you think to get it back when you do.
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
I remember the winter of 08/09 and I have never been so low mentally when it came to trading. I was near quitting. I found that a break from it all together helped. I didn't even turn on the PC for about a week I think and went away. I found the break helped me think straight which isn't perhaps easy when you are still at home where you trade and have the usual day to day hassles. I found this helped massively and I have not really looked back since.
It seems it is clear where you are going wrong as you say you have been profitable between the errors, though be careful not to delude yourself that things were going well if some of the profit came from you going inplay when you didn't plan to but it worked out - not saying that is the case but something to bear in mind.
It seems you need to put soem kind of measure in place to stop you from going inplay, perhaps exiting all trades at 30seconds to the off time and then closing the market so you aren't tempted back in could work?
I used to have a problem of getting involved to early and I found not opening the market helped and I would just watch something on Sky+ (usually Neighbours ) Eventually it became ingrained and I am no longer tempted to go in too early.
Best of luck and take a few days off would be my advice and try and get away and also try to remove the pressure the mortgage is perhaps placing on you.
It seems it is clear where you are going wrong as you say you have been profitable between the errors, though be careful not to delude yourself that things were going well if some of the profit came from you going inplay when you didn't plan to but it worked out - not saying that is the case but something to bear in mind.
It seems you need to put soem kind of measure in place to stop you from going inplay, perhaps exiting all trades at 30seconds to the off time and then closing the market so you aren't tempted back in could work?
I used to have a problem of getting involved to early and I found not opening the market helped and I would just watch something on Sky+ (usually Neighbours
) Eventually it became ingrained and I am no longer tempted to go in too early.Best of luck and take a few days off would be my advice and try and get away and also try to remove the pressure the mortgage is perhaps placing on you.
Cheers for the advice again,
Although closing out automatically would have and could prevent further in play disasters, I like having full manual control, as daft as it may sound
I know what I need to do and I know I can do it, just need to give myself a slap
It all comes down to me using much bigger stakes then I should be, I never trade too close to the off if I have a small win or loss, It's when I have been adding to my position until I'm using massive stakes up to 3k and I'm holding out right till the end to get the best position possible.
Granted sometimes using big stakes pays off (see screenshot from a trade I did last week) but If it goes the wrong way you are in serious trouble!
Both my recent large losses have been when I'm using large stakes holding out for the best position on a bad trade.
Although closing out automatically would have and could prevent further in play disasters, I like having full manual control, as daft as it may sound
I know what I need to do and I know I can do it, just need to give myself a slap
It all comes down to me using much bigger stakes then I should be, I never trade too close to the off if I have a small win or loss, It's when I have been adding to my position until I'm using massive stakes up to 3k and I'm holding out right till the end to get the best position possible.
Granted sometimes using big stakes pays off (see screenshot from a trade I did last week) but If it goes the wrong way you are in serious trouble!
Both my recent large losses have been when I'm using large stakes holding out for the best position on a bad trade.
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No Disrespect, but ..if you do what you've always done, you'll get what you've always got...and you'll be back on here in a couple of weeks with another loss?rhysmr2 wrote:Cheers for the advice again,
Although closing out automatically would have and could prevent further in play disasters, I like having full manual control, as daft as it may sound
I appreciate what your saying but I don't intend on it being a regular occurrence, I know what I've done wrong and I'll correct it. Maybe easier said then done! but I have had to iron out plenty of little bad habits that creep in over the years of trading. I just like to feel in full control. Maybe I'm a control freakPeterLe wrote:No Disrespect, but ..if you do what you've always done, you'll get what you've always got...and you'll be back on here in a couple of weeks with another loss?rhysmr2 wrote:Cheers for the advice again,
Although closing out automatically would have and could prevent further in play disasters, I like having full manual control, as daft as it may sound
Please don't get me wrong that spreadsheet is a great idea and I'm sure it will help many people and thanks again for bringing it to my attention.
It's a constant battle this trading lark
I know how even experienced traders like Rhys can come a cropper, I felt tempted today
I lost £24 on Dinamo Minsk earlier today - I was pissed off because it was my mistake through being slack. The temptation to chase the £24 is huge
I've come to realise that successful traders need to be cold blooded creatures
I know how even experienced traders like Rhys can come a cropper, I felt tempted today
I lost £24 on Dinamo Minsk earlier today - I was pissed off because it was my mistake through being slack. The temptation to chase the £24 is huge
I've come to realise that successful traders need to be cold blooded creatures