I had one of the worst starts to a day ever yesterday. I'd been out drinking the night before, had little sleep and just wasn’t at the races for the first hour.
"The First Hour"
The first races are so important; if you can have a solid start it sets you up for the day and gets you straight into the zone. This didn’t happen for me, I didn’t quite feel right and should of been more cautious. The first two races I made the huge error of not having the three ladders open and not watching out for what other horses prices were doing. Big gambles on 2nd favs were sending the favs on big drifts and sending my bank into the red!
A year ago if I had a start like this I’d of either turned the pc off or carried on in a damage limitation exercise i.e. set a target of -100 and stop. But things have changed!
"The Fight Back"
Even on the comeback I was sometimes getting out of trades too early. I suppose sub-consciously I wanted to get back to 0 and then anything else is a bonus. You’d have to be made of stone not to have that mentality, but some people are!
I was chuffed to finish £210 up on the day. Hopefully lesson learned that I do need to be much more cautious and focused from the start, especially when I’m indulging the night before. 
Good luck trading today, if you do have a bad start don’t give up and FIGHT BACK!!!
Hi Sam,
ReplyDeletewell done on your come back today and thanks for the blog. I've been following Adam's for several months now. So did you go on a Peter Webb course or just fire up betangel and learn as you go? I'm really interested in this type of trading having traded Forex for about a year now and need a change of pace. Any help or advice you could offer would be much appreciated.
All the best in your trading and long may your success continue,
James Bussey
Hello James,
ReplyDeleteI didn't attend Peters course back then but its definitely something I'd like to see. I suppose i just picked it up from trial & error and determination to make it work. I learned a fair bit from watching the original Adam Todd scalping videos (hilarious). Bet-trader-pro was the only software with a ladder interface at the time its incredible how these two programs have evolved since then.
Sam,
ReplyDeleteGreat blog. Can I ask why you prefer Bet Angel over BetTrader Pro? BetTrader Pro is much easier on the eye and to navigate between selections. I only require the ladder and don't need all the other features that Bet Angel has. I just want to know why everyone is so keen on Bet Angel. Am I missing something?!
Regards,
Frank.