Wednesday, 26 August 2009

Headache

Well what a headache I have! I came back from Germany on Monday evening from the Nurburgring absolutely exhausted. The freedom working for yourself is amazing, allowing you to take whenever off as long as you've worked hard when you need to. I was slightly rusty on Tuesday's trading and the same today. I managed to lose my biggest ever sum on one race today, £970! I literally backed at the bottom of this trend and it went all the way back up miles, and I simply thought it was going to stop but it never did. I still managed to finished up just under £1,200, but boy do I have a headache - I'm still a bit clogged up from that fever draining through into a summer cold.

Exchange Secrets is coming on well, Dave and I are giving out sound advice through analysing fewer races that we feel more confident on. Our members are very happy, a few members writing their joy with the service over the last week's worth of advice. Today I predicted a potential drift from 2.82 to between 3.7-3.9. This did happen and that one race alone would have covered more than the cost of membership. Anyway that's just one example - the service has been shaping up nicely from the advice we were initially giving out, which was too many races and less detail. I'll get a link up soon with all the historical advice we've given out soon and a few of the great comments we've been left from our current members.

I was gutted about yesterdays Sedgefield delay because I'm really trying to finish this months total over £20k. So far I've only traded 8 full days, with 3 left before the months up. I missed out on a lot of York but instead of looking back I'll look forward.

One reaason why I think I've been rusty is because while I was driving round that track in Germany, I thought how much more intense driving at high speeds was, and I thought that it was about 4-5 times more intense. Now I realise trading's not quite as easy compared to driving fast because I really had to up my concentration levels to come back from losing that grand - I have to say, I was pretty frustrated with myself after doing that - I don't really use my boxing bag in the room anymore because I accept mistakes I make more easily now, but I had to that time!

7 comments:

A. said...

Hi Adam!

Wow, that's one nasty loss!

I leave the trade in red zone and hope for a rebound only if the price of the horse (or horses) that are correlating with mine are going into opposite direction, otherwise I cut it out.

I've also learned to use the stop loss for the worst case scenario, this also really helps to avoid massive losses where you are able only stare as they grow bigger and bigger..that right click has saved me truck loads of money :)

Still, very impressive that you have managed to finish your day on a positive note!

Cheers,

A.

Anonymous said...

Why don't you post up some free advice in advance. The perfect way to attract more people to your service. Why not follow that up with a P&L showing that you traded the same advice. Proof in the pudding and all that.

Anonymous said...

hello Adam, well done for coming back into profit after a big 900 dent. Which race was it that stung you, Catt 2.20 or Warw 2.30 or another race? Which one as I got stung on one by backing too low and it would make me feel better if it was the same race! Thank you - nice car. Cheers, Rod

cuzza said...

Hi Adam,
Do you keep any p&l stats at all? Would be very interested to know what % of your p&l you think you generate from swing trades v's scalping, and any average p&l no's from the 2 categories. (If not maybe you have a feel for the no's?)

Fantastic blog btw, you are an inspiration to a lot of people. Are you considering moving into futures at all?

Mike Briggs said...

Hi Adam,

I trust you are well. Had a fantastic journey since I stumbled upon your Blog via an ecademy Sports Trader Blog, which culminated on my attending the PW BA course and am now doing reasonably well with it. The amount of information you provide throughout your postings are an absolute goldmine if people can be bothered to use their brains a little and make the necessary connections!

You're a better man than I to be so polite in some of your responses that's for sure!

I wondered if you might add my blog (if that's the correct phraseology)? Not Sports Trading related at all, just trying to generate a bit of interest.

http://bluenilepaddle.blogspot.com/

All the best,

Mike

Tipster said...

Dude, you earn £350K tax-free a year.... Please tell me that is your girlfriend's car.

Adam Heathcote said...

Hi Anonymous1, I think that's a good idea, I won't post too much information about Exchange Secrets on the blog, I want to keep the blog the blog, but just let people know of the service, so the people that would rather just read the blog rather than exchange secrets, can, and vice versa.

Hi Rod, I think it was the 2.30!

Hi Cuzza, I probably say I make a bit more from scalping; well medium term scalps of about 3 ticks. Second, 1 tick scalps, then swing term trading last - but all still profitable for me. I would like to take a look at futures if someone could help show me the ropes!

Hi Mike, thanks for your positive comments! Much appreciated.

Hi Tipster, yes that is my car - haha, it looks better in life, I must admit it looks quite girly in the picture. It's not 350k tax-free... minus the premium charge, plus if I reach the target!