Some readers already mentioned it. My mindset is not at the level it should be. In comparison to my bank the staking is correct. I don't risk more than 1% per trade. So far so good, but probably my bank is too big for my trading skills and especially my lack of discipline.
I decided to halve my liabilities for the moment. It takes away some stress, and I can do more mistakes (they are normal at this stage of learning) for a smaller loss. One reader was right, I pressured myself too much because I lost money with the scam. I have to split these two issues. It's difficult, but is the only way to get my focus back.
Beside I will stick to same strategies for a longer time. Before there were still too much adjustments, and the results have not much significance. Now we are on a level which seems quiet stable. Caan wrote some months ago about different trading styles: http://caanberry.com/trading-personalities-ascot-on-betfair/
I recognized that I am more the short term trader. Scalping some ticks here and there fits my personality better than going for (big) swings. I tried this already at Sultan's trading academy and it didn't work for me. Lately I put some scalping greens on expected swings. In the most cases i reduced the profit...
I will set the profit&loss of mybetlog to zero again. The clocks have a new start. The last weeks of the season should help to find some routine with the strategies, the discipline and the trading in general. Small things like a good preparation of the day, can make the difference. If everything works fine, I will rise the stakes again for the season 2015.
I decided to halve my liabilities for the moment. It takes away some stress, and I can do more mistakes (they are normal at this stage of learning) for a smaller loss. One reader was right, I pressured myself too much because I lost money with the scam. I have to split these two issues. It's difficult, but is the only way to get my focus back.
Beside I will stick to same strategies for a longer time. Before there were still too much adjustments, and the results have not much significance. Now we are on a level which seems quiet stable. Caan wrote some months ago about different trading styles: http://caanberry.com/trading-personalities-ascot-on-betfair/
I recognized that I am more the short term trader. Scalping some ticks here and there fits my personality better than going for (big) swings. I tried this already at Sultan's trading academy and it didn't work for me. Lately I put some scalping greens on expected swings. In the most cases i reduced the profit...
I will set the profit&loss of mybetlog to zero again. The clocks have a new start. The last weeks of the season should help to find some routine with the strategies, the discipline and the trading in general. Small things like a good preparation of the day, can make the difference. If everything works fine, I will rise the stakes again for the season 2015.
It's really good to see you are making progress in the right direction. Also, as one of your previous readers suggested, I'd strongly recommend to read "Trading in the Zone". Read it as soon as you can because you will find most of the answers you are looking for. Good luck!
ReplyDeleteThank you... probably I wanted to make too big steps in a too short time. That was also the main reason being scammed. I believed in the bullshit he was talking about. His fake profits, his software, courtsiding and in general that he is a professional. Was a bit naive to believe that somebody shares the ideas and profits. I learned the lesson and started a "life after scam". I will never pay again for a trading service.
ReplyDeleteThe book "Trading in the zone" just arrived. I will start to read it today. I hope I can reduce my lack of discipline and create a winning attitude like the book promises.