Friday, 10 August 2007

Shark Bite

Since Last Post P/L: £160.32
Monthly P/L: £303.98
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Sometimes we just have to look in mirror and say "I got in wrong". I've been doing this a few times over the last few days and when I've analysed my losing trades one thing continues to stand out - when I made the right decision I let the trade run too far and then put the stop loss too short so I ended with little profit. This meant that when the inevitable losing trades hit I was affected much more than usual and this made it very difficult to end each session in profit. I'm aware that I've grown this mindset from trying to let my winning trades run but this strategy doesn't seem to be paying off.
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Nevermind eh? At least I know my faults!
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Sussex v Gloucestershire
My view throughout this match was way off. Gloucestershire had posted a very large 266 off their 40 overs and with the floodlights due to make a difference I couldn't see them getting caught - especially at Hove. To try and get a head start Sussex threw Luke Wright into open the batting and it proved to be a masterstroke. The youngster started smashing the ball around the park for fun and his 125 off 77 balls proved to be the difference. I could have got out for a smaller loss but I didn't. The result? A nasty big red of 182.13.
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Derbyshire v Leicestershire
What a funny old game this was. By the time I'd got home the Derbyshire innings was already over as they'd crumbled to 175 all out. This is not normally a good sign for trading as one sided matches usually offer little opportunity to ride the volatility of the market but I thought I'd wait and see what happened when the Foxes started their chase. Two things became apparent quite quickly - the sun was getting in the eyes of the batsmen and the pitch wasn't an easy one to bat on. Both of these thoughts were backed up early on when Ackerman lost his wicket for just 6 runs - was it game on? Just as I was getting a little excited the umpires decided to halt proceedings - the sun was too low in the sky and this ended up delaying the game for an hour and a half. When the players returned I watched for the chance to oppose Leicestershire and I got in at the right time. They were making things difficult for themselves and at this point I'd made up for my loss the day before. I should have stopped there but I got a little greedy and ended up making some wrong decisions. I finished with a profit of £85.79 but this should have been bigger. Leicestershire ended up winning by 1 wicket with 1 ball remaining and the market was all over the place in the last over.
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Yorkshire v Middlesex
Yorkshire tried their hardest to lose this game and if I was Darren Gough I'd have been tearing my hair out. They started well as their bowlers found their line and length and restricted Middlesex to just 183 on a pitch that seemed pretty straight forward. The run rate was never likely to be a problem so all they needed to do was keep their wickets in tact. The chase started well and they'd made it to 131-3 with little to worry about - then the trouble started. Within a handful of overs the score had changed dramatically as wicket after wicket fell. They were now 165-8! The market was swinging in both directions and I couldn't call it right. I decided not to gamble on finishing with a bigger loss and watched the conclusion of the match just for fun. The home side stumbled over the line and I stumbled into bed after another defeat of £63.98.
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