The Trading Journey – Good Intentions, Poor Planning and a Losing Trade
So, as discussed in previous articles, this month (July) my intentions were to start trading full time, as I'd managed for years before, but various business projects took hold and trading took a back seat.
I've learned a lot over the last couple of weeks. The biggest lesson being, SAY NO!
The problem with being around to project manage things (big shout out to my wife, who does most of it!) is that when you've got things in place to wrap things up, everyone still has “one last thing before you go!”
Bloody pain in the ass!
This brings me back to my first article and how it's really important to get yourself set-up properly.
Distractions being one of the most important factors, of the whole process.
Changing the subject, somewhat, I've been amused by the comments on my regular bowel movements at 6 am!
That's a cert!!
BUT…
What's happened is, I've been distracted by various other things and the “well-intended” routine has gone out of the window!
It's comforting to know, that other people have the same problem.
My thoughts, then… ARE…
“When I sit down to trade, turn phones off, disable notifications and shut the office door”
You wouldn't say to your boss, “I'm just popping out to sort some personal stuff out, I'll be back sometime next week!”
I need to get back into the mindset of trading as a full-time job. A business that will earn me money and put food on the table.
Pretty obvious really, but people still don't see trading as a viable way to make a living. It's not taken seriously enough by people, that don't understand how it all works.
So, starting next week, it'll be door closed, phone off and head down to start working my “day job” properly!
I wanted to show you, how a lack of discipline, can lead to bad trading. We show you a lot of winning bets and trades BUT there will be losing ones as well.
Here's what happened last night when my head wasn't fully in the game.
19:00 hrs – I'd been keeping an eye on the 19:20 at Doncaster and the favourite looked like it might come in for some money in the first show.
19:10 hrs – My wife shouts up that dinner is ready, “Yeh, I'll be there in a minute” I shout down.
19:14 hrs – Place trade on Rux Ruxx and aim to get out quick for a few quid
19:15 hrs – Wife shouts up again and says to hurry up!
19:16 hrs – Miss large volume of money on the second favourite
19:19 hrs – Realise that I was thinking about my dinner and NOT the trade
19:20 hrs – Get out of the trade for a loss
19:25 hrs – Sit down for dinner, pissed off and irritated that I'd not just left the trade alone!
And there you have it. A prime example of how NOT to trade!
I'll be back next week with a much more positive post about trading and we'll start to look at the profits made and some more techniques.
All the best,
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