100% Attention & Stop Losses Required
I would have been much better off yesterday if I had used stop losses. I have no excuse for not using them. At one point whilst swing trading, I was down £17 (and about 12 ticks) after getting on exactly the wrong side of a fast market move. A stop loss would have cut my losses much sooner. Arguably more important is the attention required to trade safely and efficiently.
After a busy day at work and other commitments, I really didn’t have any time or mental energy to trade but I jumped on it anyway. Big mistake and I am lucky it didn’t cost me anything overall. It only takes a second for a market to start swinging in the wrong direction.
I won’t be buying a new car with these profits but I was quite happy with how the day went. Some games (especially the Beneficia game) were just not meant to be, despite the shots on target. Although I was a couple of trades away from making a loss, I feel comfortable knowing that my fate was more in the hands of variance instead of my usual poor decision making.
It’s worth noting that a lot of people do not recommend trading on Under 21’s/19’s games due to their inconsistency. I will be following this advice from now on as a newcomer, I’d be silly not to!
Horse Trading Profits:
I was lucky not to loose anything with these trades as I really was not paying attention. Stupid move.