Analysis Of March 2009


March is over, so it is time to do the analysis. If you follow the blog regularly you have even noticed, that March was an awful trading month for me. It was the first time I took a timeout from trading, because my mindset was completely broken.

Let’s have a look at the result of March:march I just wanted to watch some horse races via Betfair Live Video, so I had to place a bet to have the pictures available.

progress_marchTrading tennis started really well with a huge profit on set betting. Trading during the first week of Indian Wells was not that easy. I had many scratched trades, because liquidity was not good enough and the scoreboard was not reliable. This first week was a good test for my discipline in trading, but sadly the test failed. If there is no opportunity, then stay away.

When trading tennis in March sometimes I was not totally focused on the matches. I did several other things too, so my concentration was not completely focused on the matches. That’s something I can easily avoid, so no MSN or Skype anymore when trading.

The only good decision I made during March was to take timeout. I little bit too late I think, but I made this decision and I am pretty sure this helped me to avoid a bigger loss.

Let’s have a look at the new stake sizes:mm For the first few trades I will use half of my stake sizes to get my confidence back.

The question is how to avoid such a losing run in the future? Maybe it is just experience. Hopefully this month’s experience help me to take a timeout earlier, if I have a similar situation in the future or it helps me to avoid such a losing run caused by impatience, because I have experienced that forcing trades and losing your discipline minimizes your trading bank and more important it destroys your self confidence.

Overall stats:
Year 2008: +€156.48
January 2009: +€28.39
February 2009: +€111.52
March 2009: –€22.55

Cheers, Loocie


Anthony said...

Hi Loocie, this is the link you asked for a while ago.
I'm sorry I haven't posted it before but I've been skiing in Tignes, France.
Haven't had a chance to read your latest posts but will get round to it soon.
Best regards.

Loocie said...

Hi Anthony,

I hope you had a nice holiday in France. Thanks for the link. I think I am a person who wants to have instant gratification, so maybe this is not helpful when trading.
How to change the own behaviour to deferred gratification?
I know sometimes I am cutting my winnings too early. And forcing the trades and losing patience is also characteristic for instant gratification.

Cheers, Loocie