Since I am in the new partnership (http://brucelaytrading.blogspot.ch/2014/05/partnership-in-sight.html) things are improving. I discussed my trading style with the professional trader.
Today I made around 100 Euro profit with tennis. The loss of 12 Euro were a (fun) outright bet on Bencic. Unfortunately her performance wasn't enough good against Venus Williams, and beside the draw was a bit unlucky for her. I am quiet happy with the result, because I managed a profit despite missing great opportunities (Stepanek, Youzhni). I was really confused with the best of five mode. The market reacts different and I was not prepared. At Youzhni match I staked too high and went out at the first point the trade was green. For Stepanek I was not prepared after I was confused with the game before.
Without much stress I could make today around 500 Euro profit. You "just" have to wait for the right opportunities. Unfortunately not all days bring so much chances like today. Because the mostly one sided games it's hard to find value at the first rounds at a Grand Slam tournament.
Beside I invested some money at the trading programme of my partner. How I heard he already doubled my initial stake. He is definitely the Novak Djokovic of traders. It's great to work together with one of the best (tennis) traders. I improved a lot in the last two weeks. Time will tell if the meeting with the professional trader was the step to level five of trading: http://www.geekstoy.com/forum/showthread.php?t=1589
- The biggest issue is the exit. I talked about it in the last post. At an even matchup, especially on clay, or at a risky score (for example 4:4) is better to hedge. Often there are more possibilites at a later stage of the match.
- You don't have to lay a big favourite at the start of a match to make decent profit. It's almost impossible to find in advance the good performing underdog(s) of the day. Beside the starting odds are normally right, especially at the duels "David vs. Goliath".
- If a big favourite is behind, don't wait too long. Often the value disappears very quickly when the "Goliath" starts to play better.
- Look for value, but don't speculate. Too often I layed a big favourite after one set to hope for a comeback of the underdog.
- I rised the stakes to around 3% of my bank. It has different advantages. First of all I don't speculate anymore. I only enter if I feel a big chance to make at least 20-25 ticks. Second even a small swing brings good profit which I can re-invest afterwards. Third the bank grows quicker (of course only if you trade successful).
- He also works with half and full stakes. To hedge the entry price it's a very good approach. I think is the better one than taking half of the full stake out if trade goes in the wrong direction.
Today I made around 100 Euro profit with tennis. The loss of 12 Euro were a (fun) outright bet on Bencic. Unfortunately her performance wasn't enough good against Venus Williams, and beside the draw was a bit unlucky for her. I am quiet happy with the result, because I managed a profit despite missing great opportunities (Stepanek, Youzhni). I was really confused with the best of five mode. The market reacts different and I was not prepared. At Youzhni match I staked too high and went out at the first point the trade was green. For Stepanek I was not prepared after I was confused with the game before.
Beside I invested some money at the trading programme of my partner. How I heard he already doubled my initial stake. He is definitely the Novak Djokovic of traders. It's great to work together with one of the best (tennis) traders. I improved a lot in the last two weeks. Time will tell if the meeting with the professional trader was the step to level five of trading: http://www.geekstoy.com/forum/showthread.php?t=1589
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