Saturday, 8 August 2009
That's more like it!
A great day, not only for my confidence, but also financially. There was a wobbly period though, and I lost a lot through going in play without closing off my bets. I've often thought that part of the reason I let bets go in play is because I think I gain from it. Often I turn reds into greens, and it feels good to do that obviously. Today I'm pretty sure I lost because of it. I managed to turn tiny reds into very big reds. I'm sure it's partly down to stupid pride.
Someone commented on this subject and advised me to reduce my stakes as a solution to going in play. I'm grateful for any advice, but I actually think that would have the opposite effect on me. It would just reduce the worst risk, so I'd just let it go because the risk is lower. My stakes are relatively low compared with many traders who make as much as me. The reason I don't increase them is because I fear the outcome of me letting them go in play. That is why I think I really need to red up every time, because if I'm to improve, then I need to increase my stakes. Although I know that I should avoid big losses by redding up, when it comes time to do it, I can't. It defies all logic.
On a more positive note, I'm ahead of target. However, maybe Saturdays should count as two days?
Posted by Allan at 12:57