Sunday, July 5, 2009

Toilet Break

Just thought I would put up this screen shot from yesterday. I thought that this horse was going to steam in so I backed it about 7 mins before the off. However nature was calling rather urgently so I had to leave the room. At this point the horse was trading at about 3.5 so I was already in profit but I was convinced the move was going to continue. So I used the stop loss facility to guarantee a profit and came back a few minutes later to see the price had come down to 3. Perhaps I should leave my screen more often if I had been watching I might have closed out too early.
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3 comments:

  1. Alistair HamiltonJuly 5, 2009 at 9:36 PM

    Nice one Drifter.

    Funny enough, it wouldn't be the first time I have said much the same thing on my blog. Walk away from my pc for two minutes to avoid being tricked by the 'noise' into panicked exit for a loss. I've never tried it though.

    Perhaps this is the encouragement I need.

    alistair

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  2. DrifterJuly 5, 2009 at 10:27 PM

    Thanks Alistair

    Yes it is so easy to panic when watching the market. So leaving the screen or taking a longer term view can help!

    Although when you take a few hits it is difficult not to be a bit defensive with your trades.

    Drifter

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  3. DrifterJuly 11, 2009 at 7:28 PM

    Hi Richard

    Best way to learn is to have a go yourself with small stakes. There are also lots of excellent blogs around see the list of ones I follow. As for courses I haven't been on any but the Bet Angel course run by Peter Webb should teach you the basics.

    If your thinking of starting play around with small stakes e.g. £10 to start to get a feel for the markets.

    Drifter

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