Trading Journal First Sports Trading Diary Entry
Trading Journal First Sports Trading Diary Entry
Trading Journal First Sports Trading Diary Entry is an area in which I plan to update on a daily basis my sports trading progress.
I started sports trading (mainly football matches) on Bet Fair at the beginning of February 2012. I missed out on a fabulous offer for new sports traders to get a free £25 bet - the first time they start sports trading on Bet Fair. So to makesure you don’t miss out on this wonderful offer;
Claim a risk free £25 free bet at Bet Fair, click Bet Fair £25 bet. Make sure when you join the site, that you use or see the code HU4XE6MTR in the relevant voucher area to get your risk free £25 bet.
If HU4XE6MTR doesn’t show in the relevant box when you are filling in the joining page, you might not get your £25 free bet and that would be a shame to miss eh?
The reason I’ve decided to do this daily sports trading journal is two fold;
Firstly I post a football trading entry on the day’s in-play football coupon on a near daily basis, to the main Football Trader blog. It therefore isn’t too much extra time for me to add an entry on how I’m doing sports trading wise on a daily basis.
Secondly, in some respects this sports trading diary is an area which I can use to keep my sports trading on the ‘straight and narrow’, to ensure that although I imagine at the moment no one other than I is actually reading this Football Trading blog, it will at least be a public place on which I will record my daily trading bank figure.
A sports trading journal giving details of my increase or I suppose decrease of my trading bank to focus my attention and ensure that when trading football or any other sports, my trading remains within the boundaries that I have set myself on the Sports Trading page.
Working to the strategy that limits my sports trading risks to exposure in the in-play market to acceptable risk and reward level, I am using the exit strategy of when the Trade will give 5% return of the initial stake or if it has been longer than 5 minutes since my initial trade was matched.
The reason why I’m working to the above, is that when going through my notes over the last few weeks, it is quite obvious that I have been leaving my trades open for too long and not working to a strict exit strategy.
I have now developed a strict exit strategy whilst sports trading, that I intend stick to at all cost; to reduce my risk in having my trades in open in-play for too long and enforcing a strict timescale and ensure that unless I was extremely unlucky the percentage profit was lowered and made easily achievable, so I could exit the trade with the best possible chance of being in profit.
I started using this sports trading exit strategy on Saturday 10th March 2012. At that point I had lost two thirds of my initial trading bank and had started to question my sports trading strategy and tactics. On inspection of my daily sports trading diary that I was keeping noting records of trades etc, I realised that I was being unrealistic with my time spent exposed to risk in open play; I was also being ‘greedy’ in my target percentage profit goals on each trade.
Sports trading in the in-play market can give some big swings percentage profit wise – if you time your trades correctly, you can be looking at a green-up sign telling you that you’ve made a potential profit virtually immediately you place a trade in the in-play market. The temptation therefore, is to leave your trade open too long becoming mesmerized by the green up figure, as it shows an ever increasing green up amount.
So to give today’s starting bank £109.93 – this figure was down to the £103 mark on Saturday morning, so it has already increased from that. But as there was no viewable record, I will start my sports trading journal with the bank figure of £109.93.
I will now vow to update this daily (on the days that I do trade) as a record of my sports trading. It will be my sports trading diary!
Trading Journal First Sports Trading Diary Entry
[...] lack an effective exit strategy and I come up with one that I vow to keep to; also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] lack an effective exit strategy and I come up with one that I vow to keep to; also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] lack an effective exit strategy and I come up with one that I vow to keep to; also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]
[...] an effective exit strategy, and I’ve come up with one that I vow to keep to. Also see my daily sports trading journal in which I now keep a ‘public’ record of my current trading bank – as well as record any [...]