Monday, 23 March 2009

slowly getting there

Over Friday Sat and Sun I made a small profit, well £10 of it was from sunday, so it shows the kind of days I have been having, either breaking even or making a small loss, but yesterday I felt things just clicked a lot more and I was able to scratch my trades very quickly if I got it wrong, and I also found new confidence in my graph reading abilties that allowed me to let trades run for longer! Analysisg my mistakes over the last 3 days has allowed me to progress as I try not to make the same mistakes over and over again, and not to be so trigger happy when entering trades.

if I cant see it, dont do the trade has been my motto now and it seems to be working, over all I have made a profit in the last 7 days of just over £20.00! not much, but I am now realising that it's little and often that I need to be practising and try and nip in and out of my trades quciker, nicking a few ticks here and there to help grow my confidence!

I still feel like a blind man when wandering through some of the markets not quite knowing which direction to go and cant quite feel my way around, so what I do when I dont know what to do is a take a guess and if I get it right I note it down and I am starting to get it right more than wrong, through time I assume this will give me the confidence to enter these markets and enter some trades! intitially for me I want to reach a target of £100 a day as this is roungly what I can when in my taxi! but working from home tax free (well apart from the premium charge) and without dealing with drunk people and getting a social life back are just as important to me, cant wait to get my first premium charge from betfair!


  1. I'm a cab driver also. I'm private hire down in Portsmouth and it's dire down here. Even the students are studying instead of going out and getting blitzed as in previous years. But hopefully I'll be back on my tools fairly soon. As for the trading, I was also in the groove yesterday, making a 19% profit on bank. Keep up the good work Paul. I'm sure it will pay off in the end. You younger traders definitely have an edge over the oldies such as me, in the fact that your brain must be able to digest and react to the info you see, quicker than mine.

  2. Thanks Mark, The taxi business seems to be suffering the worst I think from the recession, whne you think that our core business is taking people to restuartants, shops, pubs, all of which have suffered dramatic losses in business, then its no wonder cabbies are the same! my earnings have actually more than halved in recent months and fridays and saturdays are getting extremely quiet! Hence the reason for serving my apprenticeship in trading! Must say a 19% return on your bank in one day does not sound too bad, you must be doing something right as well! keep it also and thanks for the comment!