August Profit

Hi folks,

Here are my profits for the month of August.


Football = £48.52
Tennis = -£5.67
Cricket = £4.57
Horses = -£5.72

So by far the most profitable trading I do is on Football. I also made a small profit on the cricket. To be fair the profit on the cricket was only from 1 trade, as now the football season has started I have not done much cricket trading. I had a small loss on the horses, but I am only using minimum stakes on horses as I am still learning to scalp the markets.

So what have I learnt in the last few months:-

1) Always plan your trades before you enter the market, and make sure you do your homework. I have actually got a good strike rate on my tennis trades. One of my problems is I sometimes over trade or get home from work, eager to trade and don't do my homework
2) Always obey your stop-loss no matter what. This again is more applicable to Tennis. The few trades I have lost, I just can;t seem to let go and move on, and that has cost me.

So what have I got to improve on:-

1)Stop-loss. I need to stick to my stop-losses and take my medicine and move on. Reading around the forums, I do realise this is the hardest part in becoming a successfully trader.
2) Over trading. With trading the key is 'quality not quantity'. I sometimes trade far too many games, particularly with football and tennis. Sometimes I trade several games at once. I need to select fewer games and make sure I have done my homework thoroughly. The rest will take care of itself.

Happy Trading