I have not been trading recently purely because my head has not been in it, we have a few family illnesses which are obviously playing on my mind, so I think that has to play a part in my silly decisions.
The other thing is that I am using a different staking plan which reduces my risk and helps my profit at the same time. Where in the past my wins were small, and my losses were big, and when I got hit with a loss, it would ruin the day. This way apparently it should produce good winners but also reduces losses… I am not entirely sure how it works, and I am not sure it even does, but I will be trying it out for a week and see how it goes.
I traded a total of 17 races and lost 6 of them, but the losses were huge, one I lost £13.47, and the other was £21.73 for a total loss on the day of £35.78 which is silly but the markets seem to dance around and steam off and to be honest I have never seen anything like this which is frustrating the hell out of me. I am considering going back to Peter Webb and having some more lessons because I feel like I am going backward and not forward.
The plan was to be well on my way to consistent wins, but that is not going well. If I was going to be on par for £50K in a year straight off the bat, I needed to be making £136 a day profit which is not far fetched. However, when you have had near on three weeks of losers then that average needs to increase, and by a quick calculation I need to be earning £147 a day now… lol is this challenge slipping away from me before it has even got started?
I need to get a grip and really up my game and get cracking; I really want this to work, and I keen to even just having profitable days… so far I have had one profitable day since I started and that was only £0.56.