It Pays to watch!!!!

Well today (Sunday 9th May) was a bad day. I lost £12.90 today, and it was because I was trying to carry out too many trades at the same time. I was doing well, trading in games I was watching. However, I started to get a bit greedy thinking I could make some more money, and to be honest i was most probably thinking about the money I lost on Federer yesterday. So I started trading on football matches I was not even watching. One in particular was the Roma Vs Caligari match. Roma were the favourites and I had layed the draw before the game started. However, I was watching other games. When it got to the 65 min mark and it was still 0-0 I traded out for a £12 loss (5% bank). But then I decided to lay the over 2.5 goals market as it was 0-0 with 20-25 mins to go. Big mistake as I had not been watching the game and AC Roma had been creating chance after chance after chance. When a goal finally went in I started watching the game, but by then it was too late and another goal went in. I then hedged out for a £49 loss. To be fair it was a good job I did as another goal went in and I could of lost £80. So I guess the moral of the story is to only trade markets you are watching.

As it happened I reduced my losses very well by trading successfully in markets I was watching and was only £12.90 down for the day. So for the whole weekend I made a profit of £3.75. However, it could have been a lot better if I had been disciplined.

Anyway for the month of May so far I have made a profit of £56.39.

So I am still going well. Here is a screenshot for the month of May and the most recent profit/loss trades.