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.


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