Thursday, 9 January 2014

Blog renamed again...

First the blog's name was Grand Slam trading. After I changed it to Bruce Lee Trading, because I don't trade just tennis. In last days I had the idea to rename it to Bruce Lay Trading. Probably you're asking yourself why such a strange name, right? :-)

Well, the first change is quiet obvious. If you don't trade just tennis, Grand Slam trading sounds strange. Last two months (okay, there was a one month break of tennis) I barely traded tennis. I was more focused on soccer and since around a week on basketball. So you need a more general name. Why Bruce Lee? Bruce Lee was a fighter which combined different fighting techniques to his own, very successful style. He tried to mix the best elements of various fighting styles. This is also my concept. Meanwhile I know some traders, their sports and strategies. Beside I made my own thoughts. I started to combine the approaches and only took the elements I liked. For example I don't like the "back the server strategy" at tennis.

So far, so good. Now should be clear why the name was "Bruce Lee Trading". Last days I recognized that 90% of my trades are lays. So I developped the idea to change the Lee to Lay. It's a play of words and describes my betting style perfect. For me the name is just amazing. I think this one will stay until the day I will stop trading. Actually is not planned today or tomorrow... :-)

My first official week as part time trader is almost over. Let's face it, I was not successful at all. I can blame the basketball players which didn't make the baskets I wanted. The referees I can't blame, because they are almost never a topic at NBA ;-). I can blame my computer because one time it crashed. If I would do this, I will never improve my trading. My last three NBA nights were quiet disappointing. First I lost some bucks, second I didn't sleep much in nights I had to go work or today I wasted the morning in the bed. Second was quiet nerving during the games. Before the start there was a lot of optimism in the end just frustration.

When I look backwards the results and the frustration are just based on personal faults. My analysis before the game was good and if I would just bet (and not trade during the games) I would have a "green book". During the game I tend to panic and make the wrong moves. In general I close too early good trades (for example Brooklyn Nets... despite they had a horrible start) and let run bad trades or even worse I get involved more (Indiana Pacers).

To be successful you have to cut losses and let run the profits.
In theory sounds so easy. How can I transfer this motto to reality? That's the most important topic at the moment. What will I do? I will take the proven tennis strategies of Sultan and will transfer them to NBA. Yes, the basketball is bigger than the one at tennis :-), but in general the trading is the same. Both sports have a lot of momentum changes which lead in a roller coaster chart. Both sports have more suprises (wins of underdogs) than soccer. Both sports you can trade every day with a decent liquidity. So I am quiet sure that a good tennis trader will also succeed at basket and vice versa.

This night I will take a break. First I have a quiet busy day tommorow, second there are only two basketball games this night. Unfortunately at the moment the tennis games are played more or less at the same hours like basketball. So I have to set priorities. At the moment I favour the US sports, but I follow the tennis games as good as I can. Latest when ATP and WTA will return to Europe I will be more involved again.

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