You will have to forgive my results at the moment as I am learning and experimenting. As I have said before my focus is not on profit, more on not losing ( although the above stats suggest I am not even doing that!)
Its early days and I am still working on formulating a trading method and imposing some trading guidelines. Here are some I have so far:
- Close all positions before the 'off'. Absolutely no positions to be taken 'in running' (At least until I understand the markets better and have a clear indication of whether the prices are likely to work in my favour after the 'off'').
- Close losing postions quicker. My big losses (relatively speaking) today were in situations where I was waiting for the price to come back even where it was 6 or 7 ticks adrift.
- Ensure the stake per tick size remains constan for all races.
- Red up all losses for the sake of consistency
- Only enter into planned trades. (I tried several races where I entered trades at random, the result was a 50:50 win not surprisingly)
- Keep a notebook ready for each race - record what was done well and what was done badly.
- Start slowly. For instance, trade for an hour at a time, and then assess what you have done, always asking yourself the question: did I follow my plan, or did I make non-method trades
- Remain neutral during trading - dont get excited by wins or upset by losses.
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