Breaking down what I do so I can sure it with you guys has been a worthwhile experience. But better than that is my time spent with the chaps in my Sykpe room. I couldn’t wish for a better group of guys to hang out with. They come from all walks of life and cover generations. We have a laugh, learn and make a few quid.
It also gives me a snapshot of how others trade. Not so much the nuts and bolts, but some of their habits. Good and bad. When I spot something good I offer encouragement, while something bad I see gives me a chance to take them to onside and offer a few words of advice.
I find myself looking more critically at what I do myself. For many years I have done as I have pleased. Now I feel I must set the highest standards – an example. If I let the odd one go in play, how can I advise others that they shouldn’t? This has led to an increase in my own levels of discipline. (Not that I am prone to letting races go in play to chase a bad position – I deleted that nonsense from my trading many years ago). But my time management is a little suspect, so I have tightened that right up.
When I start to trade the afternoon’s Racing I have a few things I need to do to be effective. I thought I’d share them with you.
- I am at my desk, with all my software and races loaded well before the start of the first race I want to trade.
- I make sure I have the TV pictures and the right channel on (Been caught with wrong channel on more than once)
- Anyone in the house understands that I am not to be disturbed unless the hours is on fire or someone’s life is in mortal danger. The days of “can you hang the washing out love”? are long gone.
This may sound weird to some, but it’s what I feel so I’ll say it. I like to feel my way in to the markets. I think there are subtle changes to the way they behave. They have different fill rates and depending on how busy the schedule is a different “flow” to them. I cannot just turn my machine on and trade at 100% straight away. So when I am trading Racing, I am trading Racing. Not one race and then a couple of points on tennis, a wicket in the cricket, lay a unders in a football match and then back to a race. I can’t do it. I am not good enough.
So my advice to anyone who trades in the style I have just described, and then wonders why they are not being as successful as they would like to be, is to concentrate on one thing at a time. If you want to trade Tennis – then trade Tennis. If you want to trade Football then trade Football. But doning them with racing isn’t something I do. I need to “tune in”. If I go all over the place trading different events and sports I lose the thread of the markets.
Another trait of this type of trading is jumping from horse to horse in a market. I do this sometimes, but only if the opportunity switches. It isn’t very often and it isn’t very successful on the whole. Here’s a scenario:
The 2nd fav you backed starts to drift, you close for a 4 tick loss. You have your maximum stake on so it’s a bigger loss that would have been if you had staked progressively. You see the favourite has started to move in very quickly, someone has just dumped 10k on it. You can’t bear to be left behind so you again go in hard with your maximum stake. It immediately starts to reverse and you again cut out for a bigger loss that the first trade. You’re now in meltdown and you ruin your Day/Week or even Month. Sound familiar?
Try sticking to one sport at a time. Whatever that is. Try it and see if it makes a difference. Don’t worry too much about what others are doing. People on want you to hear about how well they are doing or how much they are enjoying their life. When was the last time on of your mates on Holiday put on Facebook “having a shit holiday, the bastards in the room next door get in a 4:00 am and make a load of noise. The bar over the road is blasting out Agado every other song until 5:30am and the food is awful. I hate having cheese sprinkled on my chips and the sausages are vile. The woman from Manchester lets her little lad stand by the pool and urinate into it every afternoon and the Beer is €6 a pint and is weak as piss.”? More likely they do not mention any of this, just a few selfies on a sun lounger and a pretty girl in a Bikini with big tits.
If you trading racing – Tune in see if it makes any difference to you day.
Just to say – I am looking to increase my Twitter presence. In fairness I am not a prolific Tweeter. I only really use it to either take the piss or let people know about my blog. Looking to change it up a bit. So if you follow my blog but not my Twitter – it’s @itsamugsgame. I’d love to boost my Blog readership too. I don’t have link ups with other sites or blog shares, so it’s hard for people to find me. I put a lot of effort int my blog and I feel this deserves a bigger audience, so if you genuinely enjoy what I write and share, it would be great if you could recommend me to you friends, followers etc.