Friday, 19 June 2015

Major strategy update

Yesterday or let's better say today, I went to bed very late. I watched the soccer game between Brazil and Colombia (Copa America). I just woke up before the action began at the tennis courts. Definitely it was not the best preparation for a trading day... I felt tired, without energy and not really in the mood for the ladders.

Nevertheless I started to watch some tennis games and (like often) I missed too many opportunities. When I was really awake, I traded the match between Kiki Mladenovic (she is often good to trade) against Barbora Strycova. Despite a too early entry, I could manage a small profit. Unfortunately the second set was very one sided, so 50% of the money went away.

During this session I recognized that my entry levels are still not ideal. The difference between a break and a confirmed break can be huge (especially at WTA). So I decided to split the stake in two positions. The advantage is an averaged price.

I made a major update of the strategies today. My trust rised with these adjustments. There is only one open issue, it's about profit taking. I am not sure yet if I already found the right mix between reducing the risk and let the profit run. Like I wrote in the last posting, it's also a personal preference. A quick profit taking brings a better hit-rate and a smoother bank development, but you will make less three or even four digit profits. The future will tell what's the best mix. If I recognize that the approach is too conservative, I can change it again. Right now I am quite happy about todays improvements. A big topic (the entry in a trade) is solved.

Tomorrow I like to go back to the ladders. I will sleep more and will have hopefully a better energy level for a busy trading day. Good night!

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