Thursday, 1 March 2012

Finally!

I hadn't posted anything for a couple of weeks in February. It has done me the world of good, to spend less time at the PC screen getting involved in debates, arguments and deep analysis. During that period, my trading has reached new levels of consistency and I'm quite proud to report that I have achieved my best ever month of tennis trading, finally breaking the four-figure barrier.

Three things really pleased me about February. First of all, I had that terrible week or so where the luck wasn't going my way. The way I dealt with that and the fact I kept ploughing on and sticking to my guns despite the temptations to go off the rails, have undoubtedly made me a stronger trader, mentally. I felt that it was vital however, that things evened themselves out sooner rather than later, to show that I was on the right path. I was duly presented with that change the following week, as fortune did a huge u-turn and came sprinting back in my direction. Ironically, it was a turn of another kind which signalled the beginning of the change - Victoria Azarenka turning over her ankle during a match in Doha. Up to that point, I was staring at yet another red figure but the injury sent the market into panic, which I was able to take advantage of and escape with a huge green. My relief was palpable! After that, I noticed the greens started to pile-up more frequently and the hard work I'd put in keeping my reds nice and low during the bad spell, was rewarded.

The second thing that pleased me, was that I have now settled on my strategy 100%. Over the past 6 months, I have begun to mould my trading style so that I am a value taker and a 'discretionary' trader (use instinct more than strict rules). At the start, it was very different to how I'd previously traded and so there was a lot to get used to and many things I was unsure about. As each month has passed, I've answered more and more of my questions and made more and more choices about how exactly to make my trading successful. February has finally seen any doubts about what I need to do in any situation, banished. I have now reached a point where I am satisfied with all aspects of my strategy.

The third thing that I'm pleased about is that there is massive potential to up-scale. I achieved these profits using a maximum liability of just £50, with an average liability even less than that. Amazing to think that exactly a year ago, I couldn't get near these profits with 5 times that liability! In fact, it's been almost 2 years since I regularly used stakes that were this low; that's the best part of two years trading with stakes way above my station. I can increase these stakes by 10 times that amount and easily get matched in most games and that is quite an exciting thought. I'm fully aware that one good month does not make a good trader and there is no chance of me getting carried away, especially with my record of false dawns! However, considering that I've posted enough awful P&Ls to drive the average person to drink, I reckon I'm allowed to post this one up for posterity:


OFF-COURT BEAUTY: World number 92, Mandy Minella of Luxembourg:






6 comments:

  1. Do you have the same strategy for WTA and ATP? Great results...

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    1. Thanks mate. I have the same basic strategy for men and women, though I do adjust a few small things for each sex, depending on who is playing and the court surface.

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  2. Great effort mate - well done - always nice to break a new milestone :-)

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    1. Cheers Mark, only just made it with my last couple of trades! Not that I was chasing that target or anything :)

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  3. Congrats man! I was fearful due to the lack of recent posts that things wasn't going so well, but nice to see I was wrong! :)

    To infinity and beyond!

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    1. Thanks Jackhulk. I don't think the break was a key factor in my improved trading but it certainly kept me a bit fresher.

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