Back to today, i was feeling really consistent and was green for the 1st 9 races. It was at this point that i got over confident and decided to raise my stakes. I wasn't feeling any emotion using £2 stakes, it had completely gone and i felt calm during all 9 races. This was when i was starting to lose my bond with the market and started to feel superior to it. I started using £10 stakes and then wham, down over £4. Honestly, i didn't feel upset or angry, i was glad that the market give me a kick up the arse, as i was leaving trades go beyond my stop loss, and luckily watching them come back in, until now!
I decided to carry on using the £10 stakes because i felt that it was nothing to do with the amount i was risking, but was actually a product of my overconfidence. From there i yet again said to myself that i would cut my losses earlier, even if it meant a LOSS. I think that i was getting too used to winning and just didn't know what to do when i lost! I had 5 more wins then another big loss before i reached some consistency and took some losses earlier. Now, i know i win a lot more than i lose and maybe i need to lose a few more to get that level of consistency needed. I hope i now respect the market and work with it at all times, and never against it which i did in the last 10 races, and hopefully you can see that in the video, which was the last race i did.
I had 24 winners today's and 4 losers, a strike rate of 86%, ending up with £3.65 profit! Ive now trade 122 markets with 89 wins and 33 losses, s/r of 73 %.
The big losses have got to go! Here's the P/L and video for today. Sorry for the deviation on the video, its only for about 20 seconds!
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