First week of full time trading

The first week is out of the way.

As I didn’t want to put myself under any extra pressure I set a very conservative target for the week. £500. Monday started slowly but I started to settle into it towards the end. Tuesday was a little more comfortable and by Wednesday I was pretty much trading “normally”.

Thursday was my best day with around £240 profit but then had a bit of a nightmare day on Friday ending it -£60!

By the end of the week I was around £800 up which i was satisfied with all things considered.

I can manage well enough on £500 a week but with previous performance I would expect to average £200 a day fairly easily. That doesn’t mean I will be beating myself up if I am below that. Nor does it mean I will stop once I reach that total. Its simply a guide for me to measure the day against.

Last week I also made a definite decision to limit the hours I spent in front of the PC. One of the main reasons for turning full time was to improve our standard of living and obviously our income. There is little point earning more money if you are either sat by your desk for 16 hours a day or else if you’re too tired to enjoy the new “freedom”.

So I set a finish time each day meaning I had a 4pm finish and a couple of 5pm finishes. That is something I aim to continue as is having a proper day off. I am sure that will come easier once I am happier with the amount of profit by close of business Saturday 🙂

Hopefully I have given myself a good base to work on. I still don’t think it has sunk in though! Still feels a little strange.

I’ll update you this time next week

   
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First day as a full time trader.

Well here we go. Its not often you get a chance to follow a dream so what I have to be careful of is keeping discipline and not getting carried away.

6:45: Got up to take my daughter to work, getting back just after 7. Sitting in the kitchen with a coffee it still didn’t seem real. This isn’t a holiday. This is it. The ultimate in performance related pay. I didn’t feel nervous. Didn’t feel anything really. Thats a good thing surely? Business as usual. We’ll see.

7:30: I sat on the sofa with the laptop to write the blog. Scanned over the list of matches looking for a couple of suitable  matches. Checked out the stats on Tennis Insight and ATPworldtour. Loads of matches running from 10am to 5am the next morning. Going to be a busy day!

Answered  a few emails. Quite a few good luck messages which was nice. A couple of sales of the Trading Guide so at least I have made 50 quid!

Deleted the 150 spam comments on the blog. Why do they bother? Most of them are from the same bloody person!

9:00: My wife gets up. She is on day off and I have agreed that on her days off I will trade from the bedroom and not come downstairs until the evening ( as if I was at work). She doesn’t get much time to herself so I totally understand where she’s coming from. I will probably be trading upstairs anyway. I move the laptop upstairs and set up the fan as its so hot.

The new 17inch laptop fills my small computer desk. I have 2 monitors and hook one of them up to the laptop to give me more room.

9:30: matches start at 10. I check out who’s in the chatroom. Not many in but its early yet. I decide to try to figure out a solution to the problem I have been having with the keyboard on the new laptop. It keeps missing keystrokes. I make plenty of typos anyway but this makes me look like a retard for god’s sake!

Google throws up a possible solution. I need to make a change to a registry entry. Not long to go before the game starts. Maybe I should wait. Nah it will only take a couple of minutes. As it turned out I didn’t read it properly and managed to disable the keyboard!! 15 minues to go and I’m running system restore………idiot!

10:00: The keyboard is back to its original state. I’ll sort that later.

The first match starts. WTA. I normally scalp womens matches as they are so unpredictable and lay the server when the match looks right. Not really sure what I was doing  in the first 2 games but I came away with a combined total of 3 quid! More importantly they took up the whole morning. Not a great start. I had lost discipline as I had opportunities to take acceptable profits but got greedy. Newbie errors!!

Having given myself a talking to things started to fall into place. I was taking moderate greens but they were adding up.

Its good to get that first day out of the way and out of my system. I would have been very suprised if I hadnt had any reaction to the situation and at least it didn’t cost me anything. I came away from the day with around £170 so its hardly a disaster. Anything over £100 is ok but I’d prefer to be over the £200 mark each day.

Hopefully I will start my second day the way I finished the first. So much of trading is in the mind. I have a very strong mind and my discipline is (usually) pretty good but I’m human.

All in all a decent first day. Oh and I managed to sort the keyboard issue. Well, I think I have. We’ll find out in a while in the chatroom!!

   
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