Tuesday 7 June 2011

Tomorrow's trading plan

Tonight's profit/loss: +£9.65

I am off tomorrow and really want to see what I can get out of the day.

So far I have been trading evenings and the odd full day with interuptions but tomorrow I should be around to trade as much as I take!
Something I have not really done before is set a goal for a trading session, other than to break even, so tomorrow my aim is to trade over 35 horse races aiming to make 3 ticks from each race.

I usually like to trade between odds of 3.0 and 7.0 so I am basing my target on the average odds I trade of 5.0.

Tick sizes are increments of 0.1 from there so 3 ticks profit hedged will be 90p a race using £12 stakes.

With my aim to trade 35 races that would mean a profit of £31.50. It is a massive target really for the results I have produced so far and to keep the standard throughout tomorrow but I want to see how I can cope with setting personal goals.

Looking at how I have worked out this goal, it seems very possible and I can not see why I can't do this, but its easier said than done and I know there are many factors that can change the outcome of a race such as big stakers, lack of concentration and carelessness so all these will have to be minimised.

Wish me luck!

4 comments:

  1. Hi Tim, looks like pretty steady stuff there, and a decent profit for the day given the stake size you are using.

    All the best for tomorrow!

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  2. Cheers Mets,

    Not sure how it will go today, just going to start easy and see what it brings!

    That p/l was using £16 stakes but today I will go back to £12 as I think I can manage my positions better with slightly less risk and I am more happy to cut for a loss or try and let the profits run.

    I'll see how it goes and keep the blog updated!

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  3. good luck with your challenge. richardnine

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  4. Thanks Richard,

    It didn't go so well! Ended the day almost -£6!!

    Will trade today and make a post about it tonight.

    ReplyDelete