Cymatic Trader Community

[TwoToneTrader]

I am not the best when it comes to multitasking, But when i get distracted i find myself forgetting where i was with my trades. Hence why i shut myself away from the outside world.
Usually i have my phone switched off, But i have to leave it on as my Daughter is due having a Baby soon. And you can guess what happened next when i was in mid flow of a trade, with 5 mins to go. Yep the phone rings i get side tracked away from my desk. Come back only to see a hefty £85 red loss (Trust me to be on the Lay side of the Trade tut tut.. I am sure all fellow traders have been hit like this at some stage of their Trading career.

I have learnt the hard way not to chase losses many yrs ago.. My advice to you is to get mindset again forget about the loss, and carry on as normal "WITHOUT ANY DISTRACTIONS" im sure im not alone on that statement.

Thankfully i had 18/18 winning trades after that loss to end the day up £36 in profit.

It aint going to happen again, If your like me i do not like to take a big loss and a step back like that. Thankfully i recovered from it.

The best of luck Today And make sure you do not get distracted.

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[Gavin]

That's very good advice from Tony.

It concurs with something similar that I leant a few years ago from a veteran city trader. That is, that after taking a painful loss, you should not look to increase your stake on subsequent trades. The risk level should either stay the same or be reduced for a while.

Kind regards,

Gavin

[TwoToneTrader]

Very wise words indeed Gavin from the city Trader, A friend of mine layed 2 x 16/1 selections one after another @ £100 each He was Over 4k in the red. He couldnt believe what had happened. But that taught him a lesson. Im talking a few years ago. (Greed got the better of him at that time)
He came off Betfair for a couple of months,Then He asked my advice on a few things etc.. And started with a different mindset and kept to his level trading stakes Laying
to a liability from a percentage of your bank and so on. Hes doing well for himself now too.

We all learn by our mistakes, But Discipline is near the top of everyones list on being a sports trader.

Best of luck everyone and remember little gains make bigger gains they soon mount up