EXACTLY - and this was the turning point in my trading, doing this is where I started to make easy money, because I'd pick the races beforehand. However now when I look through the list I'll see a price spread that sits just outside my criteria, and I'll think to myself, 'what if it drifts into my criteria'? So I have a bunch of 'grey area' trades, and usually they don't move so I just dismiss them when I come to my computer and see they've not changed much, but then you'll get the odd few where it's still grey but a little 'blacker' than it was and they are spec trades and force of hand/boredom makes me trade them...!Dallas wrote:, I look for certain races at the start of each day, these are then added to guardian and I forget the rest, sometimes especially in winter I often only end up with only 4-6 races I’m prepared to even look at for the day and even these don’t always present me with an entry point so may end up only actively trading 2-3 markets some days.
For example today now I'm in the red (not by much, less than 5%) from trading out of boredom and I can see there is one race left on the card that meets my criteria. I'm having to tell myself not to trade this JUST because it's the last one and JUST because I'm in the red. That's the tough part, ignoring those facts and treating it as an isolated trade.
I'm listening to the audio book now, thanks very much those who recommended it. In the opening he mentions 'thinking in terms of probability' - I'm going to try doing this more, asking myself the question, "am I at least 80% confident of this prediction?"