Wednesday, 21 January 2009

Wandering mind

Yesterday was an okay day, tipping just over the £1k mark, but today my mind was wandering badly. I had my mind focused on some work that I'm doing to develop as a person. It didn't help my trading. It was amazing though that I managed to make a decent profit in a couple of the races without actually focusing on what I was doing, but that obviously wasn't sustainable, losing quite badly in a couple of the races. I only traded 8 races today.
I never used to record partially traded days like today, but now I do because this year is more about focusing on the end of year target rather than a daily target. I do feel like the daily target helped me though. Some people will find having a target helps, but others will not. It's all down to personal preference and what you feel will get the best out of you.

6 comments:

Anonymous said...

Even your bad days are good! you are a highly skilled trader, so do you think after doing this for a while you may go into city trading to try and make millions rather then hundreds of thousands?

Anonymous said...

Hi Adam

I have just come across your blog, and it's a very interesting read. I wish you all the best with your challenge. Just out of interest, what betting bank are you starting with? If this is very personal, then please accept my apologies. I have just started trading yesterday, and it's a very very steep learning curve! I'm starting out with tiny amounts just to get a feel, and at the moment i'm sitting on a loss of -£18.59. I've been looking this over, and I have it down to two things. 1. I was using bets of £2, and by mistake I clicked on £100 stakes without realising until it was very late, and had to take a loss. 2. I find that I leave bets in for too long if they go the opposite way, and then become very risky and leave them in play. 3. I need to start lookng at the betfair graph a bit more, especially if the horse is a steamer. For some reason, I like to lay first and back after! Anyway, I'm sorry for taking up all this space, I don't know any "traders" and was just wondering if you could offer any insights or advice to a newbie like myself. Many Thanks. Adam

Rick Ford said...

Can I ask a quick question. What are you do with all this money your earning on a daily basis? Your bank manager must be grinning! :-)

Scottish Exile said...

Really enjoying reading your blog. Certainly not in your league, but I certainly can relate to the problems of a wandering mind.

Good Luck with your challenge, by my reckoning you are slightly ahead of target.

Scottish Exile

Adam Heathcote said...

Anonymous: I'm not sure what the future will hold for me but it's always a possibility that I could. But for now, I'm happy doing this.

Hi Adam, I started with a £6k bank.

Rick, I spend quite a lot! I try to save. I have been buying a few shares in a few companies but it's not proving to be as successful!

Cheers Scottish Exile, I am slightly ahead. Cheers for reading the blog.

Chris T said...

Hi Adam, Enjoying your blog, you look like you will proberly smash your target at the rate your earning. I am hoping to start trading soon and wondered what sort of strategies you use, of coarse I understand if you wish to keep these private, also would you recomend the Bet Angel Seminar?
Cheers Chris T.
Good Luck With the Challenge