Sunday 16 August 2015

Week 4 in review

At Thursday I already talked about it. I made a change of the strategy, which gives me more flexibility. I differ now between 1*, 2** and 3*** trades. Dependent on the time, the trust and the downside potential I risk more or less. I don't use something "complicated" like the Kelly criterion for calculating my stakes, but as bigger I see the value as higher I stake. In general it's a change in the direction to a more intuitive approach.

Beside I rised the target risk-/reward-ratio. The first principle of trading "Let the profits run and cut the losses." is now more integrated in my strategies. With the newest update a 45% hit-rate is sufficient to reach a breakeven result.

Last week I didn't analyze my results at mybetlog.com. It's still too early for an ultimative test. That's also a reason, why I didn't publish anymore the KPI. The nice feedbacks convinced me to do it again in the future. The only negative feedback was the one of Cassini, and I don't care anymore about his opinion.

In general it was a good week with a small profit, and the above mentioned changes will (hopefully) be the base for a bright future. Since I started my new job, I don't have that much time to trade anymore. Some matches are too early (before 6 pm European time) and some take place too late (after midnight). Unfortunately the weekend is extremely low of action (only the half finals and finals). On the other hand you can find soccer matches in every corner. Nevertheless I will stick at the tennis ladders. With rising the stakes, what is planned in the future, qualitity (often half finals and finals bring balanced matches with a lot of swings) goes even more over quantity.

Next week a masters 1000 tournament take place at Cincinnati (WTA and ATP). Again we will see the major players in action. Even Roger Federer returns to action. I will use these days to stabilize my new trading approach. Beside I will start again to report the outcome of the trades at mybetlog.com. It's planned to give an overview about the results in next weeks review. Beside I will think about reintegrating the KPI section on the blog. When I feel 100% confident about the strategy, it shouldn't be a (mental) problem anymore.

2 comments:

  1. Although I'm a football trader, stick with tennis. It's hard enough to master trading in one sport let alone two or more. I'm all for specialization rather than diversification, even inside the sport you trade. I'll probably write about this in the future!

    About reintegrating your KPI, nothing against it if you feel like doing it. In the end, it's your blog and as you saw, people like it!

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    Replies
    1. Yes, I think you have to specialize. It's really hard to compete in different fields. Like you wrote, one of the most important edges is the knowledge of the sports you are trading. I am a lot more secure after one year on tennis ladders than in the beginning. I start to know the patterns. Often the history repeats... because is just 1 against 1 the emotions are the key. Some players start to tank when they are losing, some fight hard, some are good under pressure, some are bad.

      At the moment I will not integrate the KPI section. I not even started to report my trades, because I feel better not to do it. First I have to be 100% confident that I stick to the defined parameters (risk-/reward-ratio, stakes, levels to open and close a trade, reinvestments). When I accomplished this feeling, I will start to report the trades again. It doesn't make sense to set the clocks back to 0 every two weeks... so I will wait until the right moment. I feel that is not missing much.

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