Friday, January 29, 2010

Day 5, still learning...

I was unable to post my results last night , overall it was a mixed day. Im still trying to learn discipline and unfortunatly last night i reverted to old ways. In previous weeks i was trading with stakes of around 50-100, but these amounts were quite a high percentage of my bank. I found that when a goal would go agaisnt me , i would be left with about 30-50 red from a 100 euro stake, so i would wait until the odds came back down and would plan to go red at about 10. However my greed would take over causing me to wait that extra minute... then ping, a goal.

Using a smaller bank and stakes i have been trying to correct this problem, when i place my 5% stakes i usally try to get out 10-20 minutes later depending on the odds movements and the pace of the game. In last nights Inter v Juve clash i was on unders from that start. About a minute before i was ready to close my bet Juve took a 1-0 lead( on 10 minutes ). So to help counter the losses in these situations i leverage by adding a further 2.5% at the new odds. Initially i placed 10 on so after the goal my red would of been around 4, i leveraged and by the 30th minute the odds were down and i took 1 euro red. Basically i plan to wait until the loss is reduced 50-75%.

However things didnt go so well in the Egypt Algeria clash. I got on under 2.5 at 1-0 in the second half despite Algeria been a man down. I planned to get out about 10-15mins later. However Egypt did inevitbly score and not befor elong they were 2-0 down and 2 men down. I waited until my loss was down 75%. But for soem strange reason i decided to wait... despite the fact that Ageria were playing with 9 men. Inevitebly Egypt scored.

What this tells me is that i havnt reached the right state of mind yet. The loss is only small to me but if i plan to succesfully trade with siginifcant amounts. I have difficulty taking losses even when they are very small.

Things overall have been quite consistent and i will continue on my learning curve.

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