I’ve always believed that if you want to improve and develop any skill you don’t just need to do it often, you should also review/analyse your performance.
I record my screen when trading quite often to re-watch them later, and I talk to my mentor about trades whenever I can.
Even though I know I’ve improved a lot over the last 3 or 4 years something happened recently that gave me a bit of a shock.
I logged into my personal Facebook on about the 2nd or 3rd of January and was offered the chance to share a memory from 31st Dec 2019.
It was a screenshot I’d shared on FB of my trading for the day with the caption along the lines of “my best days trading of the month”. In fact it was, at that point, my best trading day EVER!
What made me smile was the amount of trades I’d done (19) in the day. Literally race after race with no break. I was amazed at the tiny amounts I was winning and it made me think of when I was trying to do 20 trades x £5 green each to make £100 in the day.
Less really is more
Nowadays I tend to limit myself to a maximum of 2 hours trading per day and often it is only and hour. I have learned that it is far safer and more profitable to be more selective. By trading only the really easy, safe trades I can do the ones I do trade for bigger stakes and end up with the same, if not more money, than I used to make from just one or two trades.
I normally watch no more than 8 -10 races at an absolute maximum and normally limit myself to only trading 2 or 3 of those and leaving the rest alone.
See a couple of screenshots from January 2023 to compare and contrast the 2 different methods of trading.
Overall a good month
I really enjoyed trading through this January, some days there really were slim pickings due to the weather. So I only traded 20 days but I did have fun. We have some new members in the Telegram group and their enthusiasm to learn inspires me to try harder.
I recorded a video which expands my thoughts on this post which you can see below or via YouTube.
If you want to read my blog update from December 2019 see here. (It makes me cringe, I was so bad) I can’t believe I was trading over 600 races per month in those days.
Back for Profit
If you want you can read my original back for profit review here.