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.