Thursday, 18 December 2008

Emotions

I really let my emotions get the better of me today. Personally I should have produced a result well over a £1,000. It all started near the start of trading where there were two absolutely huge movements - I took some screenshots. I half got on one and was on the wrong side/missed the other. In the 13:00 at Southwell I missed the move from 4 to 8 in a matter of about 2 minutes. Thats huge! Anyway I lost 60 or 70 on that and that really frustrated me, I mean really frustrated me. So I traded the rest of the day very angry, which never helps. I think I allowed myself to get angry because I hadn't got angry in a while and sometimes its good to let it all out. Thankfully it didn't cause me to lose race after race and I produced an okay result.

13:00 Southwell - Royal Keva

13:10 Ludlow - Paquet Cadeau
So anyway, a perfect trader would show no emotions while trading, they would accept what has happened and move on. Most of the time I am nearly like that but its so hard to do completely.

I still have so much to learn in terms of knowing more likely whether a very large movement is going to happen so I can steal the whole movement. I feel like the learning curve is exponential for me and to get slightly better requires a greater understanding / intuitive abilitity in the markets so I can really make the most of given opportunities. I have come so far in terms of what I've learnt, but there's still plenty for me to learn.

3 comments:

Joe said...

Hey Adam, really enjoying your blog.

That 4 to 8 move was sick, the kind of move you'd expect to see in a really thin market on a crappy evening AW race. There seem to be a lot more of these types of markets than there used to be... I usually lose money on them but they must be a dream if you can somehow predict the magnitude of the move and have the confidence to get on it early.

Anonymous said...

hi adam

fantastic results any books you recommend for trading as i am new to trading on betfair

thanks a lot
chris

Anonymous said...

Hi Adam

great blog and info.

could You please explain me the Price/Volume over time graph? I mean the 2nd graph = implied % chance?
how do You use this graph? I could not find any info about it.
tia

eli