Adjustments

A better day today registering a small profit. I have been working my way through a trading book called Trading in the Zone. If there's anyone out there wanting to get into trading then this book is a must-read. It delves into the psychological part and how you must be balanced mentally to be able to focus properly and be one of the few traders who actually make money. The topic of fear that I covered the other day comes up in the book. The book hits the nail right on its head, how when you fear something you lose focus and discipline, the fear factor makes you do things you wouldn't do under normal circumstances.

Here are today's results:

Tipster:	P/L Today:	Stakes:	ROI:	Profit - Deductions:
4PA	4.50	1.50	300%	69.99
CL	0.00	0.00	N/A	25.54
EI	0.00	0.00	N/A	-39.00
FE	0.00	0.00	N/A	17.15
FI	0.00	0.00	N/A	8.47
MGB	0.00	0.00	N/A	9.56
PB	0.69	0.50	138%	16.86
SK	0.00	0.00	N/A	4.59
CNB	0.00	0.00	N/A	-4.95
FES	0.00	0.00	N/A	4.03
EWV	0.00	2.00	N/A	-45.67
BLB	0.00	0.00	N/A	0.69
TRA	-0.76	0.76	N/A	-19.03
AB	0.00	0.00	N/A	N/A
MB	0.00	0.00	N/A	N/A
SPDT	0.00	0.00	N/A	-0.23
SKS	0.00	0.00	N/A	0.59
SF	0.00	0.00	N/A	-2.25
LB	0.00	0.00	N/A	-0.90
HF	-1.00	1.00	-100%	-18.45
JB	0.00	0.00	N/A	0.91
GVE	0.88	1.00	88%	0.59
Total	4.31	6.76	1.06	28.47

I had many costs within my spreadsheets that weren't attributed to trading so I have corrected that. Some of these costs were courses or manuals so the 19.03 PT loss is correct. I am slowly getting into the trading and I need to, again going back to fear, flush the fear out of my system as much as I can. I fear losing, it must have come from my upbringing, I am also very competitive as a person, some truths coming out now. I think it is this competition factor that betrays me and contributes to me losing focus and discipline. Losing is part of winning and it isn't by chance that there is a saying "you have to know how to lose to know how to win", I understand that now.

Under normal circumstances we take evasive action when we're losing, be it in a fight or a football game, we work harder which can steam up the window so we can't see properly. This evasive action may be an attempt to win back losses or just prove to oneself that "you know" and nobody knows more than you; pride. The objective of trading is to find a market, trade it if it offers value, have a stop loss position and get out either making a gain or small loss. The fear factor shouldn't exist, you've done your research, placed your bets now get on with other things. Of course, it's easier said than done and I personally need to keep my focus away from things I don't have any control over, I shouldn't fear losing, ever again!

This may sound strange and I know I may be getting a little philosophical but talking about these obstacles, analysing them, learning from them and coming to conclusions about myself is helping so much that I'm beginning to feel, to a certain extent, alleviated, like these obstacles were always there but I didn't realise it, and now that I've talked about them and seen how they affect me I can now move forward... and I hope any of you out there can learn too.

Even if I can't change overnight I'm sure the fact I'm constantly thinking about changing for the better will eventually bear fruit. My willingness to succeed, again the competitive side to me coming back, will win. the only way forward is to win to profit!

A good win for 4 Pronged Attack but I didn't get anywhere near the odds of 7.5 that was advised, those odds had long gone by the time I got on. One selection and one winner for Pro Bandit, I'm so used to writing that....lol

Until tomorrow

my focus is on finding opportunities not things I can't control...

my focus is on finding opportunities not things I can't control...
my focus is on finding opportunities not things I can't control...
my focus is on finding opportunities not things I can't control...

Repetition helped me to learn two foreign languages!