Wednesday, 28 January 2009

Loss!

Well what happened to me! You wouldn't believe it, but at one point I was £700 down. My worst day ever is £400 down. This is my first losing day of the year, but there is a reason for it. The truth is that I have been getting these odd calls over the last week about some 'tips', anyway it's dodgy stuff, I have been going along carefully. So anyway, I placed a big bet today, it lost (I hate gambling!) and it really messed with my emotions; I'm not going to carry on with it anymore. I was all over the place while trading because I was worried whether it would win and when it didn't my emotions were even more all over the place. Anyway, a good lesson learnt for me; never gamble big. Thankfully, I managed to pull £500 back after I accepted what had happened and calmed down.


I think the new poll I have added on the right hand side navigation is really interesting; if you could complete it that would be great, then at the end I'll anaylse the results. Incredibly, with this loss today, I am still having my best month ever in terms of average per day and total for the month - a great start to the challenge.

8 comments:

Scottish Exile said...

Hi Adam

So you are human after all! Interesting poll, I've been considering confidence and discipline a lot recently and plumped for the early leader discipline.

Sure you'll be back to profitable ways tomorrow.

Regards

Scottish Exile
http://scottishexile.blogspot.com/

TraderGray said...

Hi Adam

First let me say I find your blog compulsive reading. I work nights and usually check it out just after midnight each night!

Having been inspired, initially, by Pinsticker's challenge and now by yours I have been experimenting with trading again since mid December 2008. I say "again" as I first tried trading roughly 3 years ago but stopped due to poor discipline.

Anyway, I am curious to know how you "measure" your trading performance as I would like to make a comparison to see how far away from your performance mine is (it is a long way atm).

I know it is early days for me as I have only traded on 25 days in the last 5-6 weeks but, when there are no cancelled meetings, I seem to return around 11% of my trading level per day, whether that is £2, £5, £10 or my current £25. I guess I am doing something right as I've only had 1 losing day (day 4) and I know I can do better. However to match you I would need to trade with about £10,000 per trade and I can't do that (yet).

Good luck with your challenge and keep up the excellent blog.

st24 said...

keep your temper and never loose control. gl adam.

Anonymous said...

Hello Adam, can you tell me size of your bank? is it for example between 5000 to 10000? I ussually make 100 € a day with 1000 bank, but cant adapt to bigger bank and bigger stakes, I think it is too dangerous for my trading style. Thanks for answer, Tom

Anonymous said...

HI ADAM

fantastic reading so far ,just a couple of question are there any particular price ranges that you like to trade on ,and do you tend to storm the short price favourite...

Anonymous said...

Hi Adam

Stay well away from these callers offering tips. Usually a big scam offering different horses in the same race to different people.

You're doing fantastically well on your own.

JOHN

cudster said...

yeah we all have those moments of madness!
Just trade an extra few races this week and im sure you will more than cover it.
Keep up the good stuff!

p.s. how many roughly went to Betangels seminar when you went. thanks

Adam Heathcote said...

Hi TraderGray, I measure my trading performance by daily profit and average profit per race per trading day. Good luck using £10,000 stakes unless it's the Gold Cup! Cheers for reading the blog!

Hi Anonymous1, I have a trading bank of £6k - but remember I don't use the full bank size on every race.

Hi Anonymous2, I have no favourite price trading range - any opportunity to make money I'll take it!

Hi cudster, about 14 people went to the seminar if I can recall correctly!