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Wednesday, 14 December 2011

Stick to the path

Nag trading for me was always the unassailable height, the uncrossable chasm, the unreachable summit. After many expensive endeavours, I finally gave up and got on with what I was good at, trading football. Then I signed up to horseracingtraders.com, (this is not a plug, membership is now closed), from where I learnt to trade horses very effectively indeed. All the aspects never previously revealed to me were now handed to me on a plate - correct entry and exit points, correct market shape, understanding of both in-running and pre race strategies. Mark, the service provider, uses methods that suit my style perfectly and, his delivery makes it very easy to understand how to make very good consistent profits. Why then, over the last two days, have I managed to reduce the nag bank by the best part of £800? Simple. Because I didn't trade in any way like I had been shown to do. Fortunately, Mrs. Lambretta always proves a fantastic sounding board and after ten minutes of her logic, which basically boiled down to "why weren't you doing what you had been taught?", I returned to trade the last seven races of the day, all to a nice profit.
I've posted about evolving these methods and how fixing what isn't broken is never a good idea before. I realise now that it's my own bravado and conceitedness that forces me to think "I can do this better". The truth, of course, is that I can do it well, when I follow the rules. Ego is a traders worst enemy. Before you make my mistake, leave yours a long way from your trading station.

Some decent dutches at the weekend. Arsenal v Everton was covered at HT and finished with a small green. The Norwich v Newcastle game was 1-1 at HT, which offered 105% which was taken.
The CS prices for Chelsea v Man City were very generous and offered a staggering 2/1 for dutched 1-1, 2-1, 1-2, 2-2. Very nice green there.

The only game worth looking at is the Besiktas v Stoke game for me. Stoke have qualified, Besiktas only need a point to go through, they could top the group but I expect it to be a bore draw. 0-0, 1-0, 1-1, 2-0.

Whatever you trade, stay green. Whatever your rules, stay inside them.

2 comments:

  1. As Gil Scott-Heron is supposed to have said: "if it ain't broke, don't break it"...

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