Yesterday saw the first hours of practice in the 1000 Hours of Practice experiment. (See last post)
I managed to bully and cajole Robbo from TSTA into being my pre race trading mentor. One of the first things he advised was to not trade either Maidens or Bumpers. Sadly, there were only two cards yesterday and one of them was a Bumpers for Jumpers card at Lingfield. Given that the experiment is about learning from the very practice itself, it seemed counter intuitive to not trade the Bumpers.
Within the book that sparked this whole idea - Bounce - in addition to the idea of 10,000 hours creating a master, it is stated that those hours of practice are almost useless if the practice itself is not "purposeful". That being having a very difficult or currently unreachable objective, each session, to ensure continuous improvement. As yesterday was the first session, the objective was to try and trade to scratch. At this stage the overall result is not that important, however, I finished the day having added 3% to the bank.
As there were only two cards, a great deal of time was spent watching the markets mature, but I definitely made the mistake of entering some too early. My next practice opportunity will be on Saturday and with so much racing, it will be interesting to see how my trading differs when I open a market with perhaps only 5 minutes to go.
The really interesting thing was, at the end of the session, it genuinely felt like I had begun something really structured, worthwhile and positive.
4 hours done, 996 to go.