Saturday 17 January 2009

Two words beginning with C

Two words beginning with C have become the centre of my thinking. Concentration and Confidence. Over the last week I have built up a nice profit on the various tennis tournaments down under, not sure if it is the on screen video that helps or not. Basketball has provided a good trading option throughout the week although a mini disaster with Cleveland losing to Chicago in overtime proved costly wiping out much of the gains.

Here is the crux of my problem, despite realising that this wasn't going to plan I failed to get out with a small profit when it was possible and whilst I did eventually cut my potential loss, when it all went pear shaped I lost most of my basketball profit. This then dented my confidence and I cut out of a lot of profitable situations too early on last nights games.

My lack of concentration on the horses has meant that whilst I am making a profit on 70% of races a few spectacular losses have severely dented the pot and affected my confidence. In this regard I think I need to keep at it but cut the losses and ensure I'm out before the off as most disasters happen in running. I am finding myself guilty of going for just one more trade which I don't get matched and then having to recover the situation after the off. This sometimes work but occasionally when a horse shows no interest or falls at the first leaves me spectacularly down.

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