Sunday, 29 July 2007

Busy Times

Since Last Post P/L: £91.81
Monthly P/L: £452.90
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Apologies for the lack of updates this week but life has been very hectic. From my last post you'll know that on Wednesday and Thursday I was in Prague and on Friday I went to see the semi-finals of the Stan James World Matchplay in Blackpool. Both trips were good for different reasons but at the same time both were very tiring. One of the highlights of my trip to the darts was having a 5 minute conversation with Adrian Lewis' missus whilst we waited for him to come on stage. I don't know her name but she was very pleasant so I offered her a space next to me so she could wish him good luck as he walked by - I'm such a nice guy :-) Unfortunately, all these cheap thrills and jet-setting adventures mean I've had limited time for trading but given my recent results this is probably a blessing in disguise.
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Warwickshire v Nottinghamshire
Here I demonstrated a classic example of 'fools rush in syndrome'. I'd dashed home from work with an eagerness to catch up on the losses I'd incurred from trading on the British Open golf and regretted it very quickly. Warwickshire were batting first and even though their innings wasn't going to set the world alight I thought they'd post a score that would be under-estimated by the the market and set about laying the Outlaws. Through a lack of patience and by not looking at the worst case scenarios in enough detail I was caught napping as the home side lost wickets and their tail end crumbled. I was in a losing position I couldn't get out of and Nottinghamshire coasted to victory. Silly me and a silly £91.81 loss.
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So what do I plan to do for the last couple of days of July? Chase my losses? Scramble around various markets looking for hidden opportunities? Nope - I intend to do nothing, count my winnings for the month and then get ready for August. It's hugely important to me that I continue to grow my bank and the risk of turning a decent result into a loss just isn't worth it. By reporting a 15% growth over the last four weeks I can still tap myself on the back and walk away happy.
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4 comments:

dip said...

Hi mark,
reading your blog regularily.I also started http://findfreelay.blogspot.com
Please visit and comment on it.
Dip

Mark Iverson said...

Hi dip,

Thanks for dropping by and sorry for missing your previous comment :-) I've had a look at your blog and the content looks good.

It would be nice if you could include any targets you have or whether you finish the day/week/month in profit (this allows the reader to be able to follow your progress).

I hope this helps and good luck.

All the best,

Mark

dip said...

Hi Mark,

Thanks for your valuable comments.In todays post i included my targets and also money management in brief.But frankly i am looking for collective efforts on free lays in sports on my blog.Could you provide link of my blog in yours if it worth?
Looking forward
thanks

Mark Iverson said...

Hi Dip,

I've left another comment on your blog - congratualations on your success during the Twenty 20 finals.

Good luck!

Mark