Friday, 4 May 2007

Making Hard Work Of It

Daily P/L: £9.88
Monthly P/L: £243.50

I had to grind it out tonight and at no point was I in control of my trading. I was playing catch-up for the majority of the evening and the return for all my effort may seem tiny but it feels like a fortune. Quite simply, I was looking for opportunities that didn't exist and over-traded alot. This is just a waste of time as any good decision I made was almost immediately cancelled out by a bad one. I'm not myself at the moment and I know it so what do I do? I have to forget the recent bad days and I also need to forget about the sums involved. As my confidence is currently rock bottom I haven't got the conviction needed to let my winning trades run and cut my losing trades short - in fact I'm doing the exact opposite. I know what I'm experiencing is normal but it's the first time since I started trading that I've felt as bad as this so if you've got anything to say that might help a little please let me know by dropping me a comment.

Anyway, I celebrate my 30th birthday tomorrow and my Fiancee has arranged for a night at the Vale of Glamorgan Hotel (it's where all the football and rugby teams stay when they're playing in Cardiff), a meal with friends and a round of golf on Saturday so I'll be having a couple of days off to take it easy and reflect. There's cricket and rugby on Sunday so maybe things will be back to normal by then, buy I'm under no illusions, May will be a testing month.
.

4 comments:

Anonymous said...

Mark,

Have a few days away from trading. Simple as that. Forget about what events you may miss out on. The bank holiday weekend is the perfect opportunity. I guarantee you will return refreshed and refocused.

JamesA

STST said...

I'd take a few days off too and look again at your old trading books or any old strategy articles. Seems to motivate me for the next time I trade.

All the best,

Gareth

Mark Iverson said...

Hi James,

Thanks for your comment. I've just got back from a fab birthday weekend and after a well needed sleep tonight I think I'll be raring to go come tomorrow.

all the best.

Mark

Mark Iverson said...

Hi Gareth,

Yep - I need to go over some old trading articles that I use to get myself going. Losing focus when trading seems to be a common downfall - I need to get myself motivated.

Thanks!

Mark