Daily Result: £79.83
Job's a good'un. A green's a green. And I'm back to winning ways after my biggest blog loss. My sole aim in trading the ODI between Pakistan and South Africa today was to make a profit. The size didn't matter. The green did. Firstly it gets me back to winning ways. Secondly it prevented me from having my 2nd run of three consecutive losing days since I started the blog in May 2006.
I was out for drinks and curry with friends last night after yesterday's loss and it turned into a late one so I didn't bother getting up for the 6am start. In fact I only caught the last few overs of the first innings and mainly concentrated on part of the ultimately unsuccessful Pakistani run chase.
After a few early wickets, and with a rising required run rate, the result was always likely to go South Africa's way. But there were still a fair few peaks and troughs. The price even hit 1.01 before blowing back to 1.2. I didn't get too involved though. And was careful when I did. Didn't get everything right. But enought to make a profit. Like I say, the aim was a green. The amount didn't matter. And I'm pleased with the result.
Busy day tomorrow so no trading likely. Probably have a look in on Saturday's cricket though. Best of luck if you get involved in the meantime.
3 comments:
Cheers for the reply to my earlier comment - (I don't want to come over rude or pressing the point) £80 should be remembered is more than a lot of people earn in a day - let alone as a second income so I think you should remember it is still a great result even though much smaller than you have made of late.
Good to see you are back to winning ways - looking forward to hearing about what your new aim is after the wedding!
afmfifgh
afm> Totally right. Make £80 a day and you have nearly £2.5k a month. When I started the blog with a £1k bankroll I was completely satisfied with making £30 a day for around £900 a month. I never actually set a daily target or anything like that but as I've mentioned before all those £30, or in this case, £80 wins add up nicely over time.
As for yesterday's £80 profit I was delighted with it. Stopped the rot somewhat. Was my first winning day in 3. As for the value of the money I in no way meant to belittle it if that's how it came across. As I said I was pleased with it!
Reminds me of an interesting topic. It's like when I used to play poker. Numbers on screens can lose their significance after a while. They somehow become unreal. To counteract this in the past I have had a pile of cash sat on my desk. Just some £10 and £20 notes.It gives me something to hold and look at and reminds me what is really happening on screen. This is something I've started doing again recently. The reality of yesterday is that when I go shopping on Sunday that £80 will buy some nice warming clothes for winter - or most of a new pair of glasses I've promised Emma. I'm pleased with that. :-)
I know a few traders who record their trades using screen capture software so that they can review their bad trades at the end of the day.
Losses are bound to happen but it's great how you can learn from your mistakes to limit them in the future - which is something that you are doing very well.
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