November review and FX scalps

Hello everybody,
November was harsh month, in my trading and also in my life. It seems I am having chronic sinusitis for two months, so was feeling bad for very long time. Probably health problems had influenced my trading results too. I was taking runs(jogging) for a few weeks in the mornings, but after my body rudely alerted me that I am sick I got a visit to a doctor. At the time I finishing to drink 3rd pack of strong antibiotics and some other medicines. And next week I am gonna ask for surgery to my splay(?) nose's septum(?), because these sinusitis repeats almost every year for me. I need to fix it finally.
I traded this month only 303 horse race markets in betfair (in September 631 markets). Lost due in play 420 euros, average win per market is 6eu from 201 markets , average loss is 11eu from 102 markets(in play losses included). Total finish is +120eu. That profit is small ... but what a heck, it's still profit and I worked hard to stop that in play problem and I am sure I will not do that again! Next following months will be more profitable I am sure.
After using exercise from my a last post I never had even small temptation to go in play again! However I got involved one time by accident, then I saw time to the off is 00:00 I canceled my exit lay stakes and wanted to exit by current price, and can you imagine that 5f market got in play in that split second time when I was pressing on the current price? I had a back bet on ~20 odd horse, so exit was impossible. I lost ~70eu by this. This shitty thing happened at least few times in my trading carrier. I must BE MORE CAREFUL in the  last seconds of the pre race market and close my trades little earlier.
I believe I am getting back to the right traders mindset - calm, concentrated, free from frustration and anxiety, trading in the now moment. Its hard to come back from harsh period but I will make it :)
November's roller coaster:

I bought a book "Trade With Passion and Purpose: Spiritual, Psychological and Philosophical Keys to Becoming a Top Trader" , not so good and interesting how I though it will be, but still, I find there few very good insight. I am in the middle of it.

Forex scalping
I am still trading/learning Forex markets with demo account. Almost every morning I am watching what eurusd is doing and trying to apply knowledge what I got from hardcore reading book "Reading Price Charts Bar by Bar". Well, learning process is not short, and I need much more experience before I put real money, though my demo account is on profit with ~55% win ratio, but I think it will get harder with real money due psychological pressure. Perspectives in Forex financial markets are amazing in long term, only if I can manage to make consistent profits on weekly basis, let's say only 50 pips, I would be millionaire after few years by increasing my position size and keeping risk not more that 2% per trade on my trading account. I believe time and efforts will make me successful long time winner.
Here are some examples what I saved for you from my demo trades what I made in the real time.

So that's it folks, have a nice and green day.

Exercise to stop going in-play

Hey there,
Just found an exercise to make sustaining changes, in trading, and in personal life. Read it in Steenbarger's book "The Daily Trading Coach: 101 Lessons" . This exercise (if it work) will save me thousands and probably all my trader's carrier. After my last post this destructive psyche pattern resumes, and every time it gets more painful. Yesterday's pl chart, it is self explaining ... And I was doing this kind of thing too much lately ... That my problem pattern just vanish all my knowledge, experience and all very hard work.

So about exercise, it is not enough to want to make changes in your life, we need to sustain them, and only thing to do that is to mix some emotions. First thing is to write a goal on a paper - for me it's "stop going in-play, take whatever loss you have and just move on". After this I must use my imagination, play two movies in my head before the trading session -
Movie 1:  That one is constructive step, creating positive emotions for changing - I sit down to trading, I get a big loss, time is getting near to the off, I just turn off the market, and proudly with lots of satisfaction and understanding that trading is only probability game (I will be in the nice green in the end of day), I open new market and wait for another opportunity to make a trade.
Movie 2. This one is going to be destructive, to make me afraid of failing - So I get a big loss, time is getting near to the off,  I can't accept a loss, and I am still fighting market to get may money back, I get even bigger loss, what I can't except, full with frustration and anger I turn on in play mode, and make a bet with  all my trading balance on the first horse's odd falling dawn. And that horse of course fails and I loose all my money AGAIN. Full with self blame, anger, frustration and depression I leave trading for that day...

So this exercise should work in every change in our lives what we want. In this way we train our brains for the new patterns and get afraid of destructive ones.
I am gonna try this !!! If this gonna work, I will use it every time when I need to make a change for reaching goals what I want

Good luck

Why it's so hard to stop doing bad things???

Hey everybody,
Huge step backward this month. Why it's so hard to stop doing things, which you know are destructive to you? I struggle with two things in my live very much, first one is smoking and second one is going in-play after few bigger losses then trading. I am disgusted by these two and dream about stop doing them, but I am failing... I know my life would become a lot more easier healthier and richer if I can achieve it. Any comments about any  experience in these areas are very very welcome. 
I know a trigger for that my in play problem, after few bigger losses(spikes) in the market(especially in the hard days)  I just can't accept it, even I know that it will gonna be destructive and more painful, but I just do it. So I am forced to keep my trading bank low, I can't trust myself, I can't afford to build it bigger to blow it... What I am afraid of that the same thing gonna happen in the future forex trading too, I will just put too big position size, turn of any stop losses and will be gonna watching a destruction.
Similar thing with my smoking ... I read books, hypnotized myself, was asking  help in Allen Carr's Easy Way  clinic, tried some medicine, spend lots of money on various "help" stuff. I want, but it seems I can't. I swear myself to stop hundreds times, however only for only few hours to few days and I am smoking more and more... Probably I hate this more than going to in play to give back so hard earned money for free.
Well in this month I got in the in play 5 times, 4 was a big loosers, and one saved me some money... Complete nonsense that I am still doing this ... Here is October PL

In this month I traded lot less markets in the betfair, was trying to concentrate more in forex trading(learning). Still reading that hardcore book about price action(very very hard slow reading, but tons of good info there), what I mentioned in the last post. Watching charts in the real time and playing with demo account. One day I managed to make from 5k to 35k :D but without any money management, just wanted to watch huge play money amounts. Still my win ratio looks bad, about 40-60% in the different days. My objective is to reach 70%, triple demo account with money management and then I will gonna put some real money. However still tons of learning must be done.
Well, I need to get some optimism and get back on the right path... Good luck and profitable trading.

Getting better (month review)

Hello,
Finished September with €1,797.00 profit. Traded 631 markets. Got two losers days (tiredness and frustration break out). Had 4 day offs and all of them were in Mondays, I believe markets are worse in this week day. In most days liquidity in markets was not satisfying, but I managed to reach consistent results and I am very happy of that. I increased my trading balance and staking a little bit, I am getting more confident with my actions in the markets.

New internet connection
I got a very important change in this month: it's my internet connection. Was having responses 75-200 with my old, and with a new 90-140 toy is showing. However my old was not consistent, ping jumping to red at least once in 5-20 seconds, and now no reds at all :) And of course results got a lot better. Never thought that internet connection is so important, but it is. Maybe in the future I will get even better one, with stable 60-90 response times from betfair, when I will be able to get optical internet connection.


Scalping
Most of the time I am scalper, taking 1-4 tick profit. Most of the time trading non favs. I always watch charts to notice forming patterns, like doubles, head and shoulders, trends, triangles or just plain support resistance levels. That knowledge of technical analysis helps me with my trading. What I started to see in the markets is then traders starts to take profits or cut their losing positions, it helps a lot with my trading decisions.


My traders mindset is getting better
Some days in this month I got very frustrated... angry... unhappy... and these feelings of course pulls me out from right traders mindset and my PL starting to get shitty. However I already have a cure for this. I take a psychology of trading book, read few chapters, if necessary to flush frustration and negative feelings I sit for meditation session, after this I am like new, making a restart to my overwhelmed head. After these actions my PL gets to new highs :) Fully concentrated, disciplined, patient, calm, fully immersed in the markets and price action, confident ... I LOVE THIS MIND STATE and how my pl grows with it. It's a lot more fun then trading! It becomes like high performance competitive sport :)
However I am still very careful with my growing trade balance. Don't want to make it big to blow it ... My goal remains the same, slow and steady, consistent trading. 


Forex - brain said no!
Well, forex thing is not so good how I wish to be. After few weeks of very hard work in both trading arenas and tons of reading my brain said - stop, stop this obsession, too much, too stressful and too exhaustive. Got very lazy with trading/reading/improving in forex. So I will do it very very slow, I will run nowhere with this kind of rush. I need to keep my inside resources alive. I will trade only one researched simple edge on m15 TF with small position only London session. Will take only 0-2 trades per day.
Yesterday I got a HARDCORE reading about price action :) I think it's a best thing to master, and I will stop searching for best indicator/system.

Well, that's all what I had to say. Good luck!

Why do you trade?

Simple question, why do you trade or want to become a trader? What's your motivation? It's fun, interesting or you think it's easy money? Please leave some coments, it's interesting to see them.

Trading for me is:

• The way to earn money, most important factor. In my country average salary is about 450eu monthly, I think I can beat that :) And most importantly the perspective that I can earn a lot more, I just need to get better. Maybe one day I am gonna be rich? (probably not from bf trading)
• Being my own boss, taking holidays when I want, working as much as I want. Remember when you are your own boss it does not mean that you are good one :) So I always try to be hard on my self, working at least >20 days per month. I try to analyze my best trading and worst problems. And I force myself always to improve, reading books, making research, trying to see what I am not seeing at the time in the markets.
• Learn one of the hardest profession in the world. Yes, trading is like that, we must learn to think in a different way, what comes unnaturally for humans. For example: people always put more risk then faced with a loss, and act very conservative when need to take profits, so we cut the winners and we are adding more to loosers. It must be vice versa to become a winner! So exactly from this psychology successful traders says: "cut your losses short, and let your profits run". Do not forget that almost all beginners traders fail and quit trading. Probably only one from ten or even more becomes consistent long term winner. So it's kinda a challenge, I can make it!

Moving forward with my trader's carier and month review

Hello boys and girls (if any is reading this), was not posting for a long time, was a little busy from a last post. First of all holidays in Croatia was wonderful. No phone, no computer, no betfair, no stress, we were enjoying every minute of that travel time. However I catch myself thinking about trading in few occasions, probably it's impossible to forget what you are doing full time with lots of efforts and passion. You can take a look for a few pics below.

I finished August with a tiny profit of just +20. One time I was in that month about +500 , but I found a way to blow everything. OVER TRADING again, I NEEDED MONEY not a best decisions, so traded too much without day offs and managed to make very stupid trading errors like forgetting to finish trading before inplay and my stakes went to very old in play.

Well I am still not consistent how I wish to be, I always need to monitor myself for tiredness, lack of positivity, over reaction ... in short I always must be in my top performance if I want to get good results. Still I find very helpful "brain sync" with headphones and music to help me to get in the zone.
This month September is a lot better. Here is PL. I wish it remains like this.

So, why I am so busy? Finally, I got involved in Forex trading. At the time I am like workaholic, computer addict :D From a morning till a night involved in trading. My daily routine looks like this:
clock alarm -> coffee -> forex -> food -> coffee -> bf horses -> forex -> food -> reading and learning lots about forex -> bed
Somedays I mix in this routine some sport, gym for my degenerating body. Imagine what damage my body suffers, eating and sitting all day! Kinda boring and overwhelmed! Well it's just a beginning, when tons of learning must be done in new trading sphere. I can remember same scenario when I started in betfair. I made some trades, some winning some losing, I decided not to trade with real money till I will be confident with my edge. Still tons of work awaits me.
Waiting for a book about creating trading plan for forex trading. Maybe it will helps me to make some shortcuts in learning and planing. Forex and betfair horse racing markets has a lot difference! In pre race horses in 5 minutes sometimes I make 10 trades/scalps, and in the forex I need to wait let's say 2 hours that something develops. Very different timing, even M1 time frame looks too slow. So I need to make adaptation there. Learn to make only 2-3 trades in a day with a very good analysis. In horses most of the time there is no time for good analysis, you just make trades instinctively. I have some learning experience with bf trading, so learning to become consistent winner with forex should be easier.



Well, I believe everything will be okey :) I will learn trading forex too, like I did in betfair pre race horse racing. I just need time, experience and good motivation. I believe that after one year everything will fall to their places and I will be making money consistently in both trading arenas. Maybe only in the forex? Yes, I would quit bf horses if forex's profits would be bigger than from bf. There is one good thing in forex, that if you have an edge, you can put few millions stakes and nobody will react to you!


That's it folks, wish you good trading.

Rich July, new chair, and holidays in Croatia!

Hi everybody,
Quick review of the month. Finished July with 2489 profit, averaging one trading day with113 green. Results had beaten all my best expectations, I think it's a lot easier to trade after PC2 charge! Or maybe I got better? Here is my PL chart:

I changed my old chair to new one :) That one was serving to me more than 12 years. Believe me, I feel a big difference, sitting very comfortably, feeling like a real boss...

I can remember a good example in "Psychology of trading" by B.Steenbarger about a trader who was seeking help, in office he traded very good, at home he was a failure, and he could not understand why is that. They found out that at home he got uncomfortable chair, which was making him backache and he could not make "right" decisions in his trading. Probably that new comfortable chair is going to help little me too :)

And most importantly we with my girlfriend are going to Croatia to have 8 days holidays :) I needed prolonged time from computer and trading a lot. It will be nice to come back with fresh mind and tanned body. I always loved to travel. I spent about 4 months in Alaska in US, and about 5 months in Turkey. These months was my best in my life... Well, prolonged travel time will come again :)
Here is few my pics from Alaska and Turkey made with my old Pentax camera, which I lost after making very very bad trading decisions and going in play... Well I think time is coming to buy new and better one :)
Alaska

Turkey

Good memories and adventure spirit flooded me while watching these photos... :)
That's it, good luck in your trading :)

We got the winner! and month review

"Trading more than one year but still can't make consistent results" that one is the winner of the pol survey. Other results:

I am very begginer at the moment	8 (18%)
In a first month	2 (4%)
2nd month	0 (0%)
about 4th - 6th months	4 (9%)
one year	13 (29%)
trading more than one year but still can't make consistent results	17 (38%)

So beginners be aware! Are you dedicated to invest so much time, money and tremendous efforts in trading to your success? If yes, and you are a not so easy giving up person you are in the right way to success. Read blogs, psychology books, make research, get charts and most importantly THINK!... However I know some traders who started with instant success, and in pol you can see some lucky answers.

Personally I started to trade in betfair markets since 2009 October with 6 months holidays, and just now I am finding that I am becoming consistent winner. Well, I never gave up, maybe even too long! But you can see my progress. It was very slow with lots of ups and downs, still not sure if "I made may way to constant success? From now I will be consistent winner with growing profits?" Well, time will only show. I don't need to forget that markets are always changing, and summer will end shortly. Here is my new records:
Markets per one day - 45,
Daily record  - + 403.49eu,
Most profitable market/trade - +62.86eu,
Most profitable month - +1550eu, and month still not finished

And my monthly PL chart. However only 5 days was big earners, and in others I was doing my best to not  finish in red.

I already traded more than 12 000 markets in betfair. Probably time came to get some money! In other hand with new betfair charges I will not get rich either and I am not thinking about long carrier in betfair. Thinking to jump in forex trading in the near future. However, these new charges makes me think "markets will get easier to trade when lots of traders, especially big ones will leave?" I think yes. Again, time and PL will show. PC charges will effect me probably only after about 10k profits. So I still have time.

I am adding new pol. Probably the winner is already clear :) ... But let's check it out :)

That's it for today. Have a nice and profitable day!

Start of July and about technical analysis

Hi everyone,
What I scared about in the last post came true. I feared about my not smoking and trading consistency. So I am back to my 30 cigarettes in a day and I got 4 very inconsistent days in trading... Well, they tell true that "your thoughts create your reality", was thinking about negatives things and I feared too much about my failing, so it just came true. However there is another good quote "always try one more time when you fail". It always works like this especially in trading!  Do not give up too early. Will gonna try some medicines for my smoking problem called "Champix" and I think I already managed to fix my consistency problem in trading again. Here you can see July PL

I traded too much days in a row, I think 9 days in a row without day offs. Got very tired from a millions small decisions in the trading days. My mindset changed from positive calm and patient to angry greedy inconsistent looser. However I already got a cure for that PL killer, fucked up mindset :) I read few chapters  from a book about trading psychology, putted on my headphones with "brain synchronization" tracks "total relaxation" and "high focus" while trading, read older my posts and eureka! That greedy angry inpatient bastard is gone. Now I can see markets objectively and make right decisions again. It's very strange when you start to notice your shifts in the mindset, when I was inconsistent in these few days I could not see markets! I just wanted to make fast few tick profit and I was getting very angry when markets was punishing me then I made very bad decisions. And with a right traders mindset I sit calm, waiting for the right spot to put my trades and I can notice my self talk "no entry, no entry, spoof money, no entry, it's getting support here, and resistance there, probably it's gonna work for few ticks with taking one tick risk, oh it's a real money, I can follow them for a few ticks again, no entry, no entry, it's too early to make entry, it's too late to make entry, it gets resistance here so I should close my trade.... fav is going up so it's okey to make back bet on that horse... and so on and so on..."  it's a lot better than "SHIT, I HATE THEM, F...K I HATE MYSELF FOR THAT STUPID ENTRY..., I WANT A TICK!!! I AM NOT CLOSING MY POSITION, MY RED IS TOO BIG!!!"

I increased my stakes for a little, and in the beginning it was hard to get used on them, but now it seems okay. I swear to my self to take at least two days off in a week, best time Monday and Tuesday when markets are worst for me.

About TA
Technical analysis is about seeing patterns and support/resistance points more clearly. I am not using QuantSports-Ninja charts any more, I already know what these lines and indicators would be showing at any time in the market, I just watched and analyzed them so many times that I know when MACD is changing and I know where is momentum or home base line, I see where is the last swing low/high, I know where pulback of the swing is going to end - to the a Fibonacci retracement level! .... These charts are in my head! However I am very thankful to QuantSports-Ninja charts, It helped me to see markets in a different light and notice things what I probably never would see without them. Here you can see few charts what I was playing about 3-4 months... Nice ones :) Do you see support/resistance, entries, exits and stop losses?

At the time I am trading with 8 ladders on my monitor. Almost in every market I find a place to put my trades. Most of them are scalping trades, however sometimes I catch swings too.  I am not trading only favs, because sometimes it gets very annoying to fight with all the spoof action, and very fast price moving speed. But I always watch them because for the correlation, if the favs are going up someone must be going down...

Remember your dream
When I started to trade I said to my self, I will gonna be making +150eu average in one day. However that dream failed, after one trading year I was not making anything, I was depressed and disappointed. Indeed things get nicer in the last few months :) In the last Saturday I beat my old PL record, with 210.55 profit. I will not be making so big (for me) profits every day, I will be very happy if I could make 50eu in average in one day. I will not gonna be chasing my old dream for 150 every day, because I know what pressure do in my trading, I always get a long drawdown. I will be taking what markets gives me.

When things will come slower in the autumn I am gonna trade Forex. But I will trade horses too, unless I will be making tons of money there :) ... But it will not going to be fast, probably I will need couple of years there too.

Well I think this post is a way too long. So good luck.

June - Month of achievements

• Finished June with €1,103.34 profit. It is my record per month
• In this month I got my record day with €179.70 profit
• Record of the traded markets in one day too - 38
• At last my betfair account is in profit! LOL, just now??? Well, I messed things very badly in my dawn of trading/punting carrier... Not a good thing to have extra money than you are complete noob.
• Finished my studies and got bachelor diploma, with "IT engineering" on it
• And I quit smoking! From 30 cigarettes to 0 in one day. Still not sure about it ... but not smoking 5th day, and it seems I can make it. Was smoking about 8 years.

There is a good chance that I am consistently doing something right this month :)  Still, I have fears about my not smoking, and my trading consistency. Was not able to trade all month without few losers days, however I was consistent with my trading balance and staking. Indeed I need to move to the next level, so I need to start to grow  my bank size and use bigger stakes. However I have my inner doubts about that, at the time things seems so good, and I fear that I will blow up my "bigger" trading bank... still not sure how my psyche will respond to a bigger losses.


June PL

Good luck in you trading and personal life.

New trading week

Hey there,
Had two days off from trading. Today will be trading with very low stakes comparing with stakes I used in Ascot. I need to warm up my foots and see how markets gonna look. I remember deadly period after Aintree big entry finished, I jumped to the markets overconfident with too big stakes, of course I got long drawndown. So past made these lessons, and I am gonna learn from them. Will be concentrating not for profits but for my risk, it means I will be trying not to win, but firstly not to loose.

Last week results
Last week I traded all Ascots days,  with ~500 profit. However last two days was a lot harder to trade, than a beginning of the week, who knows why? Markets got harder to trade, or my mindset got tired? Well it's still very good results for me.

I am rereading same book by Brett Steenbarger "Psychology of trading". I find there lots of good ideas and insights. I think it helps me to stay in the right mindset. Well, that's it for today, good luck in your trading.

New personal record

Hey there,
Just a quick post. Yesterday I made my new "pl" record in pre-race horse trading. Finished day with  €179.70 profit :) My last record was 158.61. Royal Ascot is very generous to me, probably most of the traders take a lot bigger profits in this week. Well, I do not need to forget my past lessons, after Ascot finish I will need to reduce my stakes dramatically, and of course be happy making in the day a lot less return. Sometimes it's hard to not be greedy, then you just had a period of success, you always want better and better results ... However this kind of thinking does not work in trading. You take what markets are giving, and that's all. Do not start to force the trades, where opportunities are not in your favor. Think about not losing firstly! And profits will come.

Traded 22 markets, with only 3 small losers. 
That's it and good luck :)

Comparison of my mindsets

Hey there,
After some mental work with myself results got a lot better. Below you can see few examples, with two different mindsets.
First one - greedy inconsistent looser, who wants to make lots of money, but can't wait for the right spot and who hates to think about risk, because he needs money! He desperately want to get in the winning streak without taking responsibility for making loosing trades. He blames markets for making him pain.

And second one - patient trader, who manage his trades consistently, no over trading, no rush, waiting for the right setup, he does not need money, the only desire for him is to make "right" decision, and he knows that in the end of the day he will make nice profits. He does not blame the markets after losing trades, he always take full responsibility for his actions.

Well these images of my results are self explaining.  Brett N. Steenbarger wrote in his "The Psychology of Trading"  book - "Examine your patterns: What were you doing wrong in the losing trades? What worked in the winning trades? Each of these patterns has a purpose: to teach you something about your trading, something about yourself. ... Traders will be able to trade by building on their successes, becoming more of who they already are at their best."

So my main goal is to keep the right mindset for long as possible, I need these thinking habits a lot! :) Its very easy to go back in the destructive old behavior patterns...

That's it for today, wish you good luck.

Forget winning, remember not loosing

Hey there,
Well I abandoned my "plan" from the last post. Something was not working out correctly. In short I was "inconsistent" and undisciplined. Making profits with micro stakes, taking losses with all-in situations, and it over weights any knowledge about markets... I forgot very important thing, trading is not about making winning trades, but more importantly it is about not loosing. I forgot to be risk averse, I was over trading. And of course markets started to punish me for being greedy bastard. You must quit greed completely! This approach helped me to start scratch loosing trades as fast as possible, and of course to wait for right setup as long as it takes, no rush, no pressure. Think about your risk, not about taking as much profit as you can and your edge will take care about the money. So my plan changes, it comes a lot simpler, I will be taking what markets gives me, without any pressure to make "xx %" on my account in particular day. And I will not be growing my account balance for some time, I noticed that my account gets bigger I start to loose it :) 

Well I hate my "inconsistency" and my psyche problems... Why let's say 3 weeks of trading passes without a looser day (easy trading), and in the next one I am loosing everything? And more importantly I can't understand why these shifts in my head happens, what influence this change to my mindset? Greed, ego, fair, lack of knowledge or discipline ... ? 


I am gonna change few things in my trading, gonna be starting to be "consistent" with my staking, and my bank account balance. And I believe I will get a small salary in the end of the month, what of course is good thing to grow my confidence and a believe of being consistent winner.


That's it folks, wish you nice trading.

Fresh start

Hello,
How is your trading going? I hope it is going good. I am finishing this month with -€48.79 loss. Was not trading a lot, was busy with other things, but then I was trading I was doing reckless and stupid actions. 
Probably gonna switch to Forex trading in near future, I believe it has more perspective in the long term. And very important thing what I like there - speed, probably I will not loose one weeks profits just in a few seconds. Of course I have an edge, system there, without it I would not even think about jumping in these markets. In the mean time I am making scrolls in the history and it proofs me about 75% win ratio, with average ~100 pips profit per day.  In other hand you will not make there from 15 to let's say 100 in one week either. This is my main problem, I don't have available bank balance to put in FX markets without taking reasonable risks in my trades. So I will keep trading horses to save some money for a future Forex trading and for a living.
I noticed that I am far away from my trading plan at the moment in the pre race horses. So it's a good time to make a fresh start and put everything in the places. Remember, without a trading plan, it's almost impossible to win in these very competitive markets. You need to know what you are doing and why. And let your edges play out in the some number of trades. Indeed, it was my problem for this month :)
Very important thing is money management. I am going to start with 15eu bank. I think +10% per day is very realistic and achievable. So let's the power of compounding play its role here. It's says that I should have after 46 trading days (~2 months) about 1k trading balance, making no withdrawals. Well, we will see if it gonna work like this :)

Next very important thing is your edge. I believe I have few of them. My main edge will be applying technical analysis for favorites, it's gonna work best for 1.5-3.0 odds. It will be combination of swing and scalp trading.  And if the fav's will be over 5.0, I will be looking to scalp other bigger odds. The last Ninja chart's template what I am playing looks like these few examples bellow. Well, there are a lot of discussions about technical analysis in betfair markets, but I have news for you - markets are patterned, like people's psyche too, so why it should not work? If some traders can find patterns in the markets by the spoofer's actions why I can't find winning pattern using my knowledge about technical analysis?

I need to keep win ratio reasonable, let's say 2:1 and profits will come. Actually these charts looks very nice only after market is completed, in the real time they are more "choppy", lots of small gaps, flied away stop losses,  and missed entries. These things are hidden behind "HaikenAshi" indicator, however it helps me to see market in bigger view and see patterns more clearly.

Other very important and crucial thing in trading is your psychology... Your positive, calm and confident mindset. I lack that for sure. Well, I believe I have a fix for it too :) My best trading periods was then I was reading about trading psychology, probably it motivates me and makes a positive mindset for me. However after finishing these books it's looks like I was not able to make new good habits and I always fall down to destructive old behavior patterns. So I will start to read them again :)

So that's all for today. Gonna make few posts in the near future, and we will see how my plan will gonna work in the "real" mode.