Monday, 2 April 2012

The Truth

Well I'm sure most of you will have realised by now that my last post was an April Fool's joke, though I suppose it's not beyond the realms of possibility that I did actually do all that I wrote about! There is a lot of truth in what I wrote, as pretty much everything that is written is something I've thought or done during my trading journey. So it's not entirely lies! Which is good because all the replies I've had have been very nice and I was starting to feel a bit bad about duping people! It was fun writing something with a bit more creative license but it's time to get back down to business and the cold, hard facts of what actually happened in March.

With far less tournaments to trade (4, as opposed to 20 in February, although they were 4 large ones) I was never expecting to hit the heights of last month, especially as the 2nd week of both Miami and Indian Wells are amongst the quietest of the year. So I'm very pleased with my overall profit, despite not hitting 4 figures again. In most respects, March has actually been a better month than February because I have improved my trading in many ways. I started to become a bit more aggressive as my confidence has built. Basically, I proved in February to myself, that I know what I'm doing and therefore, I started to trust myself more. During March, whenever I had a strong instinct over something, I took it on, whereas in the past, I would've paused, ruminated, deliberated and eventually done nothing in most situations. With the green figures from February giving me greater self-belief, I've been less cautious in my approach whilst at the same time, putting in place better safety options, slightly restructuring some of my exit points to balance this up.

The key to stopping fear of the market and fear of  being aggressive is to have no uncertainty - if you are always certain of what you will do and what will happen in every situation, you have nothing to worry about. As long as you execute properly, nothing really bad can happen. Now that I have certainty in all that I'm doing, it has freed me up to do what I do best - go with my gut and take on the value, aiming for those bigger greens. And it is paying off.

OFF COURT BEAUTY World Number 129, Britain's Heather Watson:





As with February, these profits were acheived with a maximum liability of £50 and that will not be changing in April. The tour moves over to the outdoor clay of Europe now, which I don't expect to have any great bearing on my strategy but I want to be sure of that before deciding to up stakes. April and May of last year were my best ever months of tennis trading (until this year) but I started to get very over-confident and it really cost me eventually. I am determined not to let that happen this time around, so I won't be changing a winning formula just yet.

3 comments:

  1. Such a wag.......The JD mention in the Aprils fools post lost it for me.......glad to see ur achieving equilibrium. Great work, I just cant get to grips with Tennis ....... considering buying the Tradings Sharks little booklet....any recommendations?

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  2. Do you think I should've gone for another beverage? I have actually got pissed on JD following a heavy loss in the past, so it does ring true!

    Tradings Sharkings is worth an investment, it's what I started out trading with. As it was bought 3 years ago now, some of the trading styles will not work as well in today's markets (these are slightly updated now but not techniques I use anymore). You will still get a good basic intro into tennis trading and good support though, and it's only £29. If you've been trading for a long while, it's unlikely you'll find anything new in there but you never know.

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  3. Thanks for that, may give it a whirl....I tend to stick to the pre race horse racing markets but want to reduce my involvement in this area,,,

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