Tuesday, 21 August 2007

Getting It Right


Since Last Post P/L: £255.93
Monthly P/L: £687.19
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Making £250 in just over an hour reminds me how good trading can be but before I get carried away I need to remind myself that making a profit isn't always as easy. Tonight I called my trades right and my strategy paid off but if I hadn't been patient over the last few weeks I'd have only been catching up on my losses. My discipline has worked in my favour and as being patient is something I've really had to work on I'm going to give myself a pat on the back and have a celebratory beer. For any of you reading this blog looking for a get rich quick scheme then please take note - trading just doesn't work that way. You have to go through plenty of days where you work for hours just to break even but when everything clicks and the markets move in your favour it's like striking oil.
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England v India
When I got home from work and switched on the TV I couldn't have hoped for a better scenario. England had exceeded expectations and knocked up a whopping 288 - their price was hovering at a very attractive 1.59 and I was tempted to get on then, but I decided to wait and see how the first few overs went. I was aware that the Indians would need to play very well to get anywhere near the target and I anticipated them struggling as soon as the light started to fade. After a couple of early Indian boundaries the England price had spiked to 1.94 - I was sure this was an over reaction but before I could react Ganguly got run out after a bit of sharp fielding from Monty Panesar. The 1.94 turned to 1.54 very quickly but my mind was made up - England weren't going to lose this! When the price trickled back out to 1.65 I jumped on with a back of £473 and within a couple of overs I was smiling as Gambhir got caught behind after some superb bowling from James Anderson. The trend continued and it wasn't long before the Indian score was 34-4 and the price on England had plummeted to 1.05. Cricket's a funny game and you never know what can happen so I decided to take the profit of £254.36 and relax for the rest of the evening - the job's a good 'un!
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As a side note, the Glamorgan v Yorkshire match yesterday wasn't half as exciting. The Dragons puffed smoke instead of fire and it never looked like a contest. I figured this out early on and walked away without getting involved. On Sunday I also had a very small dabble on the Wyndham Championship golf and made a tiny £1.57 profit.
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