Always Stick To The System!

Last Updated on August 18, 2011 by Sports Trading Life

Tuesday was quite an entertaining day from a personal point of view when I look back on it. Those following me on Twitter will have shared in my anguish as I slightly messed up a pre-match trade on Arsenal.

When I woke up Arsenal were priced @ 1.65 and that looked way too short for me. I immediately got it into my head that they would drift throughout the day and so I layed Arsenal @ 1.65.

This proved to be the wrong decision as the price on Arsenal started to steam instead of drift!!

The most ironic part of this whole thing, is that had I followed my own bloody system then I would have known the Arsenal price was going to steam and I could have be in the correct position to take advantage. So like the idiot I am, I actually went against my own system as I thought I knew better then myself. (That sentence makes no sense)

Once I saw the Arsenal price steaming and I confirmed it was going to be a steamer, I closed my lay bet and placed a back bet on Arsenal. I managed to gain about 6-7 ticks before the price started rebounding slightly.

I then further doubted myself and started to believe, I was correct originally and the drift WAS going to come. However, by this point I was all over the place and I did the right thing and exited the trade for a miniscule profit. Phew!

The drift on Arsenal never did arrive and the steam carried on from 1.65 all the way down to 1.48 in the end! I guess doubt and all other trading emotions can still creep up on the best of us from time to time.

Yesterday

Thankfully, yesterday went much smoother as I stuck to the system and almost everything went to plan. I identified many market movers nice and early and profited from the majority of them. I now have a new problem as even though I work with a decent sized bank, when trying to trade about 10 matches at the same time there is quite a strain on my bank and in some cases I couldn’t get on as much as I wanted.

This below screenshot was done with a £300 stake, where as I would have liked to have had £750 on it which would more then double the profits.  If I do find my bank being stretched on a regular basis I will have to invest more I guess.

Anyway, the moral of the story is, stick to the system… ALWAYS stick to the system!