Repeating ones mistakes... Again

Had a terrible time on the markets today, I'm glad I used training mode, huge "losses" and to be honest I was doing what I did yesterday, the only thing I can think of is that I started doing the late races with low liquidity, so I guess a note is to self is, that the 'behaviour' of evening races is markedly different to the afternoon ones.

Keep it hydrated

As mentioned in a previous post, low liquid markets are just not worth scalping for multiple reasons, you leave yourself exposed, market jumps occur more frequently, things like that. But time and time again I'm making the mistake of jumping in on a race regardless of liquidity. I mean ok, I'm sticking to the English and Irish racing, but I'm jumping on empty markets, it's killing my mojo.

One thing that sticks to mind is that need to enter a market at the right time. There's a crucial moment when the last race has finished and the next race gets a huge influx of traders, the market blips quite considerably at this point. If you have orders in the market, or open positions, you WILL get caught with your pants down. Unless you can pick up the trend for when those traders enter a market, for example. Do they always put money behind the weaker side? Do they always back? things like that, I've been too frustrated to actually watch this, but I'm sure it's in my videos and may be of some value.

In Conclusion

Feel like I need to break down my daily goals, have tasks to see if the market behaves in a way that I'd expect so that I can analyse if this is the case afterwards. For example, during key points, how does the market respond.

Its been a poor day, I'm thinking about parting with some cash to get the Caan Berry video pack. It's a lot of money so I really am umming and ahhing about it, could it save me hours, weeks, and days in the long run thus saving me money? Or will it just kinda tell me what I already know in a roundabout way like those self-help books, I really am at a loss as to what to do. On the one hand, it would be nice to start being profitable by Christmas, on the other, what if I already become profitable by then anyway? Gahhhhhh!


Popular Posts