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!
Hi Tim, looks like pretty steady stuff there, and a decent profit for the day given the stake size you are using.
ReplyDeleteAll the best for tomorrow!
Cheers Mets,
ReplyDeleteNot 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!
good luck with your challenge. richardnine
ReplyDeleteThanks Richard,
ReplyDeleteIt didn't go so well! Ended the day almost -£6!!
Will trade today and make a post about it tonight.