I've been in two minds as to whether to post up my monthly P&L anymore. Following my post which discussed the subject of viewing other trader's P&Ls, it feels slightly hypocritical. I don't like the idea that other traders might feel that they should be making consistent profits or amounts that I'm making, when they may be at a totally different stage with their journey. Not that I'm making large amounts - I'm hardly going to make too many people jealous! So what I'm probably going to do in future is change to simply writing down the percentage of my bank that I make. I feel that makes for a fairer comparison for everyone of all trading levels and experience. Not that you should be comparing yourself with what anyone else is doing but humans being what we are, it is only natural that we will do this. It's not as trustworthy as a Betunfair P&L screenshot but then, if you don't trust me by now, with all the ups and downs I've documented, you never will!
Just for the record, I have gone back to using an average of 2.5% of my bank as my liability for each trade. I did increase it for a few weeks to 5% but feel that I'd rather have the peace of mind that the lower percentage brings. It allows me to have 20 maximum liability losses on the spin and 40 average losses. Neither scenario is likely to happen (I haven't had 2 max losses in a row for a long time) but I do quite often have a run of average sized losses (0-2%), so it's best to prepare for the worst. As I'm currently still unable to increase stakes because I have to withdraw all profit, my maximum liability remains at around £50 for most trades.
As you can see from my screenshot, it's been a disappointing month - my lowest profit since January. I put this mostly down to some erratic trading caused by my failure to adapt well to changes in trading hours. With the tennis tour shifting from the USA to Asia, it meant a sharp turn from finishing at 2 or 3am, to waking up to start trading at 6 or 7am. I really didn't cope well with this at first and found myself way too tired to fully concentrate to the level required. It cost me on several occasions but the fact that I still came out of another decidedly ropey month with profit, can only be a good thing. My average profit per month in 2012 is still approximately 50% of my bank, so I'm more than satisfied with that if it remains that way in November, when the season ends.
October is the last month with a full programme of WTA and ATP tennis, so I suppose I may as well continue showing my P&L for now. There isn't a lot else to report. Trading for me is now an ingrained habit. I enjoy it for the most part. The pressure I have to make money is low enough to mean I never experience fear or anxiety, whilst the small amount that does exist is enough to drive me forward and remain professional. My biggest fight is still with myself. I lose focus every now and then and I still find it tough to shut out distractions when I'm in need of new stimulus. If I can find a way of taming my wandering mind and itchy keyboard fingers, there is very little standing in my way of continued success. I think the fact I can't compound my profits doesn't help because once I get stuck doing the same repetitive things with the same stakes and same bank, I feel stagnant. I'm just not naturally good at repetition - 'variety is the spice of life' would make a great tattoo for me.