Until the last trade, the day was okay. Then came Gael Monfils, he is always a grab bag. You never know what you can expect. I saw him playing the last days, he often slipped away. Gras is definitely not his prefered surface. Yesterday I thought that this playstyle can end in an injury. Today it happened and I was not aware this time...
I was not concentrated enough and didn't see that he slipped again away. This time he hurted himself. Nevertheless I backed him at 0:4. This entry often has a lot value, but this time the odd was crashing. Monfils was barely moving, and the market paniced (and was right). So my loss after the first set was bigger than expected. I hoped that the french man give up (so the bet would be void), but he started the second set. I made the mistake not to take the loss before. So I lost more than the money management allows...
I wrote in the last days that the results were looking better than my trading is. Today it was the proof that I am not there where I like to be. The discipline is still not the best (in other case I would close the bad Monfils trade before) and the killer instinct is missing. Instead of making a big profit at the match between Halep and Mladenovic (I expected a tight fight), I lost money because of backing the Romanian in the wrong moment.
Nevertheless is not everything bad. I am still in profit over the whole week and the system seems to work overall. Since the start of this blog I have a plus of exactly 250 Euros. In the long term the Monfils game hopefully was just a small accident...
One lesson I learend today (again). The stakes should be lower until the moment you feel 100% confident. Some people even advice to trade in the beginning with paper money. Well, that can work for the one or other, but I think the most important part (psychology) you can't learn with this approach. As a measure I will halve my stakes. It will help to strenghten my discpline, I am quite sure. It's easier to close a trade with 50 Euro loss than one with 100 Euro... The money management stays the same (not more than 1% loss per trade), but the single position will be smaller. This change should give me more opportunities (for example a re-entry) during a trade.
I was not concentrated enough and didn't see that he slipped again away. This time he hurted himself. Nevertheless I backed him at 0:4. This entry often has a lot value, but this time the odd was crashing. Monfils was barely moving, and the market paniced (and was right). So my loss after the first set was bigger than expected. I hoped that the french man give up (so the bet would be void), but he started the second set. I made the mistake not to take the loss before. So I lost more than the money management allows...
I wrote in the last days that the results were looking better than my trading is. Today it was the proof that I am not there where I like to be. The discipline is still not the best (in other case I would close the bad Monfils trade before) and the killer instinct is missing. Instead of making a big profit at the match between Halep and Mladenovic (I expected a tight fight), I lost money because of backing the Romanian in the wrong moment.
Nevertheless is not everything bad. I am still in profit over the whole week and the system seems to work overall. Since the start of this blog I have a plus of exactly 250 Euros. In the long term the Monfils game hopefully was just a small accident...
One lesson I learend today (again). The stakes should be lower until the moment you feel 100% confident. Some people even advice to trade in the beginning with paper money. Well, that can work for the one or other, but I think the most important part (psychology) you can't learn with this approach. As a measure I will halve my stakes. It will help to strenghten my discpline, I am quite sure. It's easier to close a trade with 50 Euro loss than one with 100 Euro... The money management stays the same (not more than 1% loss per trade), but the single position will be smaller. This change should give me more opportunities (for example a re-entry) during a trade.
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