I started today’s trading with a fresh mind and even though I was still full of cold and fairly tired I was still confident that can make some money today with the BetFair horse racing markets using Bet Angel.
The first couple of bets of the day I was doing okay then disaster struck and once again I let losing trade carry on to make me a loss of £5.65 I keep having these big losses and I very rarely get the big wins to counteract them.
The rest the day’s trading was fairly up-and-down with another significant loss of £6.18 but I did have a few good wins one of £4.31 and one of £2.29 and a few other wins along the way.
With a few races to go I was making my money back, and with only two races to go, I was only down by 57p which in my opinion is a pretty good comeback. Once again however on the last race I screwed up, and I started chasing my losses again, and I was down £4.29 to finish the day with a total loss of £6.30.
I really need to get a grip find out a way to stop me chasing losses as it is my biggest failure as a trader. I’m reading books to help with the mind of a trader, and they are helping me, and I think you can see from my trading that they are helping me however I could really do with speeding this process up a little.
I’m still enjoying trading, but I think my £50K challenge is rapidly becoming a distant hope. However if at least out of this process I get the opportunity to understand trading better and make some money regularly from it, not necessarily massive profits but enough to waste away the afternoons for a little bit of beer money then I would be happy.
However, in the same breath, I hate losing anything and don’t like being beaten, so I’m still really giving 100% to this challenge and only do my damnedest to reach the £50K target.
Thank you to everyone who has been helpful in guiding me and showing me the ways and also commenting on my videos on YouTube this has been a massive help and a huge motivational factor for me.
I’m not going to be trading Monday or Tuesday however I will still have the markets open on my screen so that I can watch and be immersed in the whole trading environment, as I think that screen hours is imperative to learning about how the markets react and respond in horse racing.