Wednesday, 1 April 2009

downhill rollercoaster

Well I must say today I am cheesed off, normally I am upbeat and positive even when I am losing, since starting this blog using £50 starting bank I am now at £35 which means quite a loss over the 2.5 weeks ago I started this.

My mind is a muddle - I find at times there is too much information out there to help you?? I know that sounds strange, but if you watch too many videos and read too many articles it seems to confuse me, dont know about anyone else, I know there are no that many blog readers on my blog just now! I cant seem to find a groove to sit in or get my own style.

One good thing about the blog though is that since starting it it has definetely helped with my discipline I have not let a single bet go in running, which was my major downfall, and I can now scratch trades a lot quicker so its progress but not money making progress, what I now need to do is stop losing money, and at some time making money will follow????

Just now I trade using pure price action, ie folllowing (or trying to follow) the big price moves, but I either get it wrong or get in too late and miss it, and today seemed particularly hard with movements as there did not seem to be any great ones and the liquidity was low in some races towards the end of the day, in the past ive tried rading form etc and try to figure out which way a horse will go, but that lost me money as well, ive tried working with stop losses but thats not working as the prices are too jumpy and just take my stop loss anyway before going in the direction I thought it would go and I see the profit I was going to make dissapear in front of my eyes!

I feel like hitting my head off a wall but my entusiasm to learn and crack this never seems to fade, its becoming like a drug.

I guess i just need to learn to read the markets better and use betangel a bit more proficiently, one minute I think im making progress and then the next it goes to pot!!!


If you could hear me scream your ears would be sore!.

Perhaps my downfall is that I only use the ladder for trading? maybe I should be scalping more, but I find the ladder interface easy to use and understand and the multi ladder I use when there us no clear favourite, perhaps I need to start looking more at scalping or bookmaking? or do I should I become good at swing trading first!!

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