It has been a shaky start to 2018 to be honest, with all good intentions I wanted to just trade pre-race then I get sucked into trading in play then I get a little burnt, and I stop trading for a few days, and the cycle continues.
I have done ok for January and February, to be honest, and I have made money, but it has been done by being lucky and of very little skill. You can see my videos, and you can see that a lot of it is just down to luck. I am struggling to get consistency, and I am struggling to not go in play. The markets have been a bit sketchy with some big moves, and it seems that whatever I do the markets goes against me.
However, the last few days we have had snow days here in the UK which has meant there has been very little racing, and I can’t be bothered so I have been reading and cramming information and trying to find and work out why I am not doing as well as I would have wanted. To be frank, I have had to do this with my whole other business as well as I have just got very complacent with life and although I am happy I can see that I am getting very lazy.
On looking at my trading style and where I mainly go wrong and that is that I have the urge to trade everything and I mean everything, every race I want to find something, and I am going in blindly into the markets without really thinking and looking at why I am doing it. The other thing is that I am ignoring signals whether it be the signals that tell me to get in or out of a trade and when I do get into a trade I either stay in till I have made a loss or get out for a tiny profit. Either which way I am not maximizing my profits and cutting my losses.
The other thing is when I get a trade that has gone sour, and it is near post time I often take it in play and then gamble that the price will drop into the green and it often does, but on the odd time that it does not I lose and l lose badly. This is one thing that I have been working on recently to overcome and to battle against, and thankfully Bet Angel has a servant to sort that out, so I have been using that to green up at in play time.
The next thing I have been looking at is simply waiting for something to happen, and then I react rather than trying to second-guess the markets with my very limited knowledge, and this just backfires. I also need to try and reduce the losses, and if I do reduce the losses, the profits will follow.
It all seems pretty obvious but the battle with your mind is brutal, and that is my struggle.
I will get there, and I will make this work I just need to get my shit together and sorted first
Hi Danny
You’re not alone, I read the above and think it could be me saying the same thing!
I have only been using the Exchanges for a couple of months and am finding it difficult to stay focussed.
Despite the great advice that is out there, we still have to fight this urge to win more and end up relying entirely on our mood, depending on the quality of the previous trades.
Thankfully I am not a big gambler and always work to small stakes, have had a few scares and lost a bit too much ( once especially, betting in play ) at times, but generally spending less than I was in the days of Yankees and Lucky 15’s!
I keep seeking info and keep positive that one day I will find the edge I am seeking, the one thing that works for me.
Keep trying, I’m sure it will work out for you.
Thanks Tony :D
I am still plugging away :D