Sorry Kiddies, I've Crashed and Burned!
After losing on both Monday and Tuesday this week, I made a mistake / traded badly today by laying a horse just before the off, well micro seconds before the off. Couldn't get out in running - cost me £237.
So annoyed that I tried to get it back by putting what was left of my bank £175 on a odds on favourite in a 4 horse race. Needless to say - it lost.
Thanks to all who contributed to this blog, and good luck to you all.
One tip to any new ones starting off. Stay away from all those people who post videos on how easy it is to make money at this game. It's crap. It isn't. All these people (top dogs included) only post the winning videos. They never show you how easy it is to lose money as well.
Wednesday, 10 June 2009
Monday, 8 June 2009
Accepting Responsibilty
Almost two weeks into my second month and still profits to show for my endeavours, though plenty of losses to show for my mistakes, and so I continue to learn and hone my novice wings. Part of the learning for me is to look, read and hopefully digest the myriad of help and advice that is out there and then decide whether or not the information found is worthwhile or not.
One book I'm reading at the moment (on the advice of other bloggers) is Trading in the Zone, and for me it is a useful tool as amongst the many things it touches on is fully taking responsibility for the trades you make.
I've struggled with this and when something has gone badly wrong, I've blamed (in my head) everyone and everything, from my Internet provider for letting my Internet go down just after I had placed a £100 back bet in, to God for short changing me on my luck allocation. All of which of course is crap, because if I had had a back up mobile connection, I'd have been able to close that trade, and if I think of all the times, not trading wise, that I've had serious good fortune, then I certainly shouldn't be blaming anyone, least of all God for a few bad luck / bad strategies in my trading.
I'm beginning to believe, albeit slowly, that once you take responsibility for your trades, and accept that you will have some trades that swing violently against you from time to time, and that Karma is an important part of trading, then maybe I may start to get rid of some of the negative energy that I have from time to time. Time to Time? - Well - almost every day :-). Certainly something to work on.
As a footnote on Karma, - sad to see my shining light on patience and discipline died in auspicious circumstances last week, certainly not the most dignified way of going out. C'est La Vie Mon Ami, C'est La Vie.
One book I'm reading at the moment (on the advice of other bloggers) is Trading in the Zone, and for me it is a useful tool as amongst the many things it touches on is fully taking responsibility for the trades you make.
I've struggled with this and when something has gone badly wrong, I've blamed (in my head) everyone and everything, from my Internet provider for letting my Internet go down just after I had placed a £100 back bet in, to God for short changing me on my luck allocation. All of which of course is crap, because if I had had a back up mobile connection, I'd have been able to close that trade, and if I think of all the times, not trading wise, that I've had serious good fortune, then I certainly shouldn't be blaming anyone, least of all God for a few bad luck / bad strategies in my trading.
I'm beginning to believe, albeit slowly, that once you take responsibility for your trades, and accept that you will have some trades that swing violently against you from time to time, and that Karma is an important part of trading, then maybe I may start to get rid of some of the negative energy that I have from time to time. Time to Time? - Well - almost every day :-). Certainly something to work on.
As a footnote on Karma, - sad to see my shining light on patience and discipline died in auspicious circumstances last week, certainly not the most dignified way of going out. C'est La Vie Mon Ami, C'est La Vie.
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