Todays Result: about -80%
Had a very hefty loss on the Martin - Ferrero match (2007-04-12). Everything went wrong. First of all I made a mistake on backing Ferrero instead of laying (using the advantage of one-click betting of a trading software.. haha). Then within seconds Ferrero was not doing well and the price drifted exorbitantly. Mostly due to low market volume! Because of having nearly all the money on him I could not lay. So I had to sit back... relax... and look on how I was losing money... in fact about -80% !!!!
I did not do a lot since then. I had to digest the loss.
I used some days to get a clear mind and to get a step back to rethink what I did. The conclusion was that even if I had layed Ferrero and might have won a lot of money my system was too risky (apart from mishandling a software). Not in the Martin - Ferrero match but to other plays I had traded. Predicting how the market will move had a great bearing on the old system. Even though predicting the market is somehow included in every system you can handle it in a lot of different ways in respect of risk.
Furthermore the latest experience makes clear to me that you can lose money in a million variant ways even though you proof every decision in-depth AND even if you are right!
Down to 93€ I tested a new method preferably only placing bets of 10€ stakes ...for now. My bank "lifted" up to 100€ and I want to get back the amount I have lost... and ideally more ;). The new method looks much friendlier to me and is much more riskless and stable. I hope it can resist in the long term.
So starting by a new way of trading I hope that all readers of my blog will read on and enjoy my journey to success.
Though not mentioned I have also new ideas on money management. Hard to believe... I know ;)
Had a very hefty loss on the Martin - Ferrero match (2007-04-12). Everything went wrong. First of all I made a mistake on backing Ferrero instead of laying (using the advantage of one-click betting of a trading software.. haha). Then within seconds Ferrero was not doing well and the price drifted exorbitantly. Mostly due to low market volume! Because of having nearly all the money on him I could not lay. So I had to sit back... relax... and look on how I was losing money... in fact about -80% !!!!
I did not do a lot since then. I had to digest the loss.
I used some days to get a clear mind and to get a step back to rethink what I did. The conclusion was that even if I had layed Ferrero and might have won a lot of money my system was too risky (apart from mishandling a software). Not in the Martin - Ferrero match but to other plays I had traded. Predicting how the market will move had a great bearing on the old system. Even though predicting the market is somehow included in every system you can handle it in a lot of different ways in respect of risk.
Furthermore the latest experience makes clear to me that you can lose money in a million variant ways even though you proof every decision in-depth AND even if you are right!
Down to 93€ I tested a new method preferably only placing bets of 10€ stakes ...for now. My bank "lifted" up to 100€ and I want to get back the amount I have lost... and ideally more ;). The new method looks much friendlier to me and is much more riskless and stable. I hope it can resist in the long term.
So starting by a new way of trading I hope that all readers of my blog will read on and enjoy my journey to success.
Though not mentioned I have also new ideas on money management. Hard to believe... I know ;)
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