was a long time since my last blog entry. First I want to write about my trading results from 2008 French Open.
First day of trading 2008 French Open produced a loss of -14.09€. I think this was not a bad trade, but I was really upset about Vaidisova losing 2nd set 1-6.
With this loss I lost some self confidence and got nervous when trading Gremelmayr v Djokovic. Took "stop loss" and lost again. So two negative trades and I became scared of losing the money I was working so hard for.
I traded Robredo v Coria and Coria won 1st set 7-5. I entered the match and backed Robredo. Was a good trade, but I got nervous again, because match did not develop in the first games of 2nd set so I scratched that trade. After scratching Robredo broke Coria and won 2nd set 6-4. Final result Robredo v Coria 5-7, 6-4, 6-1, 6-4.
All you need is self confidence with your selections. Two trades (Djokovic and Robredo) could have produced a decent profit, but I cut my winnings and had a small loss.
Cetkovska v A Bondarenko produced a loss of -15.65€ and I stopped trading with a clear head and started trades of frustration and gambling.
The biggest loss was in the match Pennetta v Suarez Navarro.
I lost -77.25€. I did not take a stop loss, I put more money on Pennetta.
Generally I have to learn to accept losses. That is really difficult.
I was rethinking about my way to trade tennis matches. Generally I know when to enter a match, but I have problems to find the perfect moment to close the trade. I will give an example:
Yesterdays women's final between Ivanovic and Safina: I layed Ivanovic @1.41 after she broke Safina in 1st game. I wanted to make a profit of 20%, so I needed back odds of 1.54. I watched the match via Eurosport Germany and Safina was not playing bad, but Ivanovic was leading 4-1 and I layed her again @1.26. Safina was fighting and she could equalize and score was 4-4 in 1st set.
Now, I want to describe the differences between my old style of trading and my new style of trading:
In the past I would have waited for Safina to win the 1st set. That means I was waiting for a complete turn in the match. But this does not happen very often.
Now, I am only looking for an opportunity where the score can be equalized. I know the match can turn completely, but to stay in profit I do not need a complete turn. I backed Ivanovic when Safina had the break point to equalize to 4-4 and I was in profit.
Ivanovic won this match 6-4, 6-3 and with my old style of trading I would have produced a big loss although I identified a good trading opportunity.
I applied this new trading style since a week and could produce a nice profit.
Stats so far:
total profit May: +1.36€
total profit this week: +57.43€
total loss this month: -19.82€
All the best, Loocie