Monday, 19 January 2009

Monday drag!

I failed to follow up on my success from Thursday and Friday last week. Managing to scoop just £325 today. One race I lost £300 through poor judgement on the price movement, it went totally against me. I don't mind losses, but big losses do have an impact on my emotions. Safe to say I'm sure that's the same with everyone.

I have a friend staying down from tomorrow for a few nights so if anything goes bad I'll have her to blame for anything that goes against me! Before I traded from my office in London, I was living at home with my parents. Whenever I took a bad trade, it was always my Dad to get the end of my emotions. He always used to pop his head in the room occasionally just to speak to his son. Of course, I didn't mind at all when things were going well, but when they weren't, I always used to get angry and say 'You know the rules!', as in the rules I made up for him not to come into my office at all while trading! Haha. He used to say 'well what if it's important'. I said if it's important then okay. But of course whenever he had something 'important' to say, I would always be like 'that's not important!!! you just made me lose £20 pounds (or I could have made £20!), as if 'dinner's ready' is something important anyway! So then he'd shrivel back behind the door and pop his head back in an hour later to repeat the whole situation! Lol. It all makes me sound very horrible!, but I knew he had a smile on him, especially when he made jokes about it to his friends!
I could write a book about all the interactions with my Dad while I was trading. He used to say the most annoying things such as, if I were to tell him about a trade where I lost money on a movement against me, he'd say, 'well why didn't you get out earlier'! Or if it was the opposite, he'd say, 'why didn't you stay in longer and make some more'! It makes me smile when I look back at it all.


Anonymous said...


I was laughing at myself the whole way through that post mate!

I know exactly what you mean about the interruptions. Finally my parents understand not to interrupt me when I am trading - whenever they do it always seems to cost you, never wins you anything!

I found the summer the toughest and ended up resorting to leaving a £20 note outside my door with a note saying 'Take the money rather than interupt me - it will be best for us all!'

That finally got the message through but with family always having BBq's outside my window and the smell coming through the window it was tough to trade the 20.50 from Leicester!!!

I remember one particular evening when I had been at it all day and with only two races left my brothers girl friend (who didn't know the rules - not that I cared) came straight ito my room to tell me the food was ready on the BBQ. I turned round bang, I lost something like £30. She got it in the neck and I got it in the neck from my brother later - LOL!


Anonymous said...

Forgot to ask mate - on your latest poll about which day do you find best to trade, which is yours?

I have recently been going over my performance for 2008 and was not surprised to find Mondays were my worse, but I was surprised that Saturdays were my best.

If you plan to do a post about it all don't worry about answering this comment.


thruppennybit said...

Hi Adam

It might have been a poor day by your standards, but it is still inspirational to someone just starting off. It was my first day today, and in 3 trades I made a profit each time of 5p, 5p and 7p. Peanuts, but I've never been so pleased to win 17p - it proved to me that this can work.

Good luck with the challenge.


Emanuel said...

Nice words there mate! lol very interesting stuff as my father also says something like that!

Anyway, profit is profit! 300 is not good as thursday and friday but you still have profit. I think that´s the important thing. Every trader has bad days ;) I wish I could make 300€ per day but I still have much to learn. Cheers from Portugal and keep up the good work.

Anonymous said...

Hey Adam, it might have been a Monday Drag but at least you made more in a day than the retired IT bloke on Million Dollar Traders made in a week before he walked out. Great programme. Back to the pic of you at work in the office I don't see a multi-screen set up. Do you use just one big screen? How do you get multiscreens 'pinned' into one screen, what sort of laptop or PC would I need for that pls? (I can just about manage the 'On' switch on computers...). Interested to hear about your set up. Thanks mate and keep going! Cheers Frank the Fixer.

Too-much-too-young said...

another great day by any standed
Ive only been trading a few weeks and have had a mixed bag of results
Do have any basic do's and don'ts ?
I can see my problems,
Not getting out of trades when they start going the wrong way
I think the gambler in me wins over the trader
Any advice would be greatfull
keep it up !!

Anonymous said...

Hi there,

Can I ask please how many trades on average you make per race?
Looks like the challenge is going well so far!


Adam Heathcote said...

Hey leon, I'll make a post about favourite days soon.

Too-much-too-young, basics do's and don't would be don't let trades go in-play. Only use stakes you are comfortable using, otherwise it messes with your confidence.

Anonymous: the number of trades I make varies quite a lot. Sometimes I can only make 1 trade but other times I can make tens of trades.