{"id":2484,"date":"2010-07-23T12:55:56","date_gmt":"2010-07-23T11:55:56","guid":{"rendered":"http:\/\/www.betangel.com\/blog_wp\/?p=2484"},"modified":"2010-07-23T12:55:56","modified_gmt":"2010-07-23T11:55:56","slug":"getting-stung","status":"publish","type":"post","link":"https:\/\/www.betfairtradingblog.com\/blog_wp\/2010\/07\/23\/getting-stung\/","title":{"rendered":"Getting stung"},"content":{"rendered":"

I got stung twice on Tuesday. Both incidents were pretty rare but taught me a lesson.<\/p>\n

Sting one, we have a wasps nest in the Garden. Despite many attempts to get rid of it, they still persist. We called in the specialists in but that was only a temporary respite. So I took matters into my own hands and had a good poke around in the composter to locate it. Unfortunately the wasps were wise to me and one poke with a stick sent a flood out of them to defend their territory. I got stung a couple of times and one was right on the joint of my wrist and very painful. This made moving the mouse was a bit tricky for a couple of days. Anyhow, the specialist returned yesterday and destroyed the nest!<\/p>\n

Sting two. If I get something wrong in a market, I don’t panic I just adopt a plan B, then C & D if that doesn’t work. Starting with low stakes I tend to try something and then if that doesn’t work I will cut out and try something else. Now and again though it can backfire, especially if you are unlucky. I got unlucky this week and managed to put in my worst daily performance for about 13 months. I’ve been quite happy this month but the market well and truly tripped me up on this day. Just a set of events that don’t occur very often did and that was it, nothing I could do. I did the best to repair the damage but I didn’t chase it. The upside return on trading is quite small when measure in percentage terms. I’ve often seen people go into ‘recovery’ mode when something happens, especially out of the blue. But if the ‘recovery’ fails then the road back is very long and hard. You are just better off accepting a loss, whether it was a fluke or not. You will live to fight another day, chasing a loss could wipe you out forever!<\/p>\n

My lesson, a bit of stupidity is going to cost me one way or another, that’s inevitable. But it often serves as a useful reminder not be stupid!\u00a0 More importantly, its how you deal with the aftermath that’s key. Both my painful stings are behind me and I am confidently moving forward again.<\/p>\n

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Getting stung can be a useful reminder<\/p><\/div>\n

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I got stung twice on Tuesday. Both incidents were pretty rare but taught me a lesson. Sting one, we have a wasps nest in the Garden. Despite many attempts to get rid of it, they still persist. We called in the specialists in but that was only a temporary respite. So I took matters into […]<\/p>\n

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