Saturday, 18 August 2012

Day 3

Crash, bang, wollop! Back down to Earth with a losing day.

I got off to a bad start with the 12:55 at Newbury which I think was maybe the Arabian race or something. It suffered from poor liquidity, and I shouldn't have got involved. I lost the second race too, but I was still feeling confident that things would pick up. Confidence is a by product of winning. You don't just gain financially, but you begin to expect to win.

I felt there were too many races going off too soon after each other on a busy Saturday, but ironically that seemed to be when I did best. It was when things quietened down in the evening and we got back to a more comfortable 10 minute gap between races that things went badly wrong.

After the 5:20 race at Perth, I was £500 in profit for the day, then the wheels came off, and I ended up losing £115. But this has not deterred me, and I think I've learned from it.

Firstly and most importantly, I must stop drinking alcohol while I'm doing this. I'll say no more about that for now because hopefully it will no longer be a factor.

Secondly, I need to learn to stick to the plan and trade, and not just simply gamble in an attempt to chase my losses. I know that I lose when I gamble, so there's no point in doing it.

The good thing I've learned is that after 129 races, I'm still £1600 ahead; albeit after 119 races, I was £2200 ahead.

Due to lack of time and liquidity, I didn't trade at Tramore. I wish I hadn't traded at Lingfield where in five races, I lost £725.

Profit and Loss for the day

Total Profit and Loss

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