Hello traders, how are you?
Congratulations Maria for the # 1 : )
Today was a great day for trading tennis. Great Results but some could be better. For example in Sharapova match i expected her to win the match in two sets if she started well. It happened but i had some short term unlucky in my entry point and i missed her break in the first set and lost a lot of value in her price. It was frustrating because you have the plan and you know what is very likely to happen but if you don't have a great entry, because in this case there was some risk (kvitova), this match would not be so profitable because you would be influenced with some short term swings. So, a potential 0,5 k match that just finished with 80 € in both. I was a bit frustrated but i really try to focus on the process the best i can. Overall, i did a good trading in this match, going from -17 % to 8 %. I have been doing this a lot lately. A lot of short term unlucky in a lot of matches.
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I get a lot of emails asking for help and i would like to give some advice. First, like nadal says in his book, what separates champions from other players is the mental game. How do you trade when you have a big red? A lot of bad decisons? Do you keep cool head?
So, the best advice that i can give here is, adapt your trading style to your personality and ask yourself questions, good questions. If you apply these two concepts you can have a great life.
This is the best advice that i can give you, want examples?
Overcoming barriers
Instead of feeling bad and talking about failure, just react and ask yourself better questions. Learn from mistakes.
Ask yourself about your problems and learn with it.
Just some examples,
Ask yourself and you will get the answers.
Losses
I hate big losses, i really hate. What can i do? Ok i have to limit losses.
I have some problems to push the trigger to limit losses? Yes, in big losses.
What can i do to overcome that barrier? Quit a match while i have a small loss.
How much risk? Well, a risk that allows me to risk X times, or a risk that i feel is comfortable for me.
How can i find that ideal risk? Do some matches and take some notes when i am about to start making bad decisions or after i make a bad decision.
Tennis matches
Ok, i have a big loss? Why did i enter in this player? Am i comfortable with this risk?
Am i overtrading? What can i do next time to avoid it?
It's not difficult ;P
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Some traders sent an email asking if i could decrease the price to access the babypuntz students blog again because they were interested before and i increased it very fast and they did not have the chance to get the 50 £ value. So, the price of babypuntz students access will be 50 £ again till next Sunday. After Sunday the price will be 75 £ like i said in the previous post.
good trades
r9
Another important issue: When do I let my winning trade run and what time is the best to get out. It happens to often that a winning trade gets back to a red trade and you stay in hoping for a change, since you've been winning earlier, but that might not happen again in the game and you end up with a big loss. The other issue with winning trades is cutting them too short. If you have a couple of small losses thats good than a big red, but a small win won't make up the losses neither :( so this is a really hard thing to overcome: being greedy vs. locking in the right win (not too small)
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