Monday, August 2, 2010

Goodwood & New Vids

Well I'm still in Spain even though my initial plans were to move back to London in July. I couldn't resist staying here till the end of the summer as it's scorching now. So come November I'll be back in the big smoke :)

I was lucky enough to be in the country that lifted the World Cup and wow what an experience! The streets were flooded with people all with a grin from ear to ear and it felt like a festival vibe with the city buzzing for days. It's safe to say the city has calmed down a little now, although you can still see the smugness a mile off. Who blames them, I thought Spain were the stand out team from the start and they didn't disappoint.

Glorious Goodwood

The markets last week were very nice trading fodder. The big meetings attract a lot more interest to the exchanges and this in turn generates a lot more liquidity than normal meetings. What is great though on major festivals is that the extra boost of cash flows into the other meetings on the card which creates opportunities all over the place. Big meetings like this tend to raise the bar day by day where you will see a build up to the top top races later in the week. But this doesn't always transfer into the way you profit from the markets. Bizarrely enough though this week it did, where I kept improving on my previous days profit by a hundred or so. So when the end of the Saturday came I felt a little tear slide down my cheek as I wanted Goodwood to last forever ;(

I think a lot of people struggle on the big meetings due to the fact the markets look and feel so much different to normal. You simply have to adopt an alternative approach to trading these and be willing to increase your stakes to get the most out of them. The reason why most full-time traders enjoy these times is mainly down to the market acting like it should most of the time. What I mean by this is a market is filled with enough genuine money to counteract the amount of traders and manipulators in the market. This means the market finds resistant points nicely which can be easily spotted/enough turnover to power through orders yourself/and many strong indicators can be found to back up your opinions. So really this makes things easier for the experienced trader and most of the time makes things become enjoyable and profitable.

Unfortunately the evening racing is coming to a close, and soon we'll be tackling obstacles such as bad weather and poor meetings. But for now make the most out of the next month where you can make a nice bonus on the day with the extra races on the card.

Here's Saturdays P/L:

New Vids

I took the day off trading today, but wouldn't have if I took notice of it being a Bank Holiday. There are always more meetings on the card and I always seem to do well on them. But hey I decided to create a few video's instead.

The first 1 is uploaded to my Screencast folder and is for everyone who reads the blog. It's using £10 stakes and shows you how you really don't need a big bank to chuck a few ££'s in the account.

First Vid: here

The Second vid is exclusively for people on the SportsTradingJourney mailing-list. Don't worry if you are not currently on it, it's free to sign up and all you need to join and receive the second vid is include your name and email.

Mailing-list: here

The Second vid is 20 minutes long and gives a little bit more info on what's happening with the upcoming online tuition site that's going to be launched. The vid shows you 2 races with audio commentary, expressing my thought process behind every decision.

The video will be sent out to your email over the next few days, keep an eye out in your Inbox.

I want to mention that no trader is perfect and even people who are full-time constantly make mistakes. The difference is the people who have found consistency are those who are willing to make mistakes and learn from them. It's part of the game that you will lose before you succeed. It's not about trying to maximise every opportunity while your learning trading, these videos will show you that you don't have to be clicking like a madman chasing yourself around the market to make a living from trading. It's staying patient and picking your opportunities wisely first, then after when you find a consistent edge you can start trying to maximise your returns and push yourself furthur.

Enjoy & Happy clicking!
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