Friday, 16 March 2012

The Long Road

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Day 1 of my recovery was a long but productive one which consisted of the One Day International between Pakistan and Sri Lanka and an evening of Premier League darts.  All in all it was 11 hours of being extremely cautious and picking up the 'quick wins' when they were on offer but the positive result was that I recouped over 15% of my target.  A good start but still a long way to go before I get back to level for the month.
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Here's my graph (click to enlarge):

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The plan today is to tackle the 1st One Day International between the West Indies and Australia.  I've come to love watching cricket but the ODI format is my least favourite as I spend the majority of the time inactive.  That's always frustrating as it's easy to get involved when there's no need to - a big test of discipline.

As for tomorrow that could well be a write-off as Wales take on France in an attempt to clinch their 3rd Grand Slam in 8 years and as you can imagine, the temptation to join a 12th of the country's population on the streets of Cardiff may prove too much! 

Lastly, I had some interesting comments to my previous post.  Here's some snippets:

"it sounds like you are about to start chasing your losses and are attempting to justify that." 
"Not the most 'professional' thing to do, looking at your pnl in short periods, just as bad as setting a daily limit to be fair."
"Setting positive targets for individual markets now :) No doubt if you miss a target you can always up the stakes for the next one."
"who cares about following a winning previous strategy , just dive in with some speculative lays/backs and cross your fingers." 
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Sounds like I didn't get my points across very well when I described my action plan.  The over-riding message was meant to be, "I need to manage my risk better."

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2 comments:

Anonymous said...

hi mark, really enjoying ur recent blog posts.

care to exchange links? ive added you already

http://talkingtennistrading.wordpress.com/

ta

Mark Iverson said...

Thanks for stopping by Anonymous (always better to talk to a name).

Nice blog you have there - would be more than happy to exchange links. I'll add you to my blog roll tonight.

All the best,

Mark