The importance of being honest

Yesterday this trader suggested a trade to our members, and those that could decipher the lingo, in the Halmstad v Helsingborg game. Back U2.5 and take insurance on 1-2 and 0-3, final score, 1-2. Halmstad got one back in the 93rd minute, bloody inconsiderate it was of them too. Scratch.

What I did not suggest to our members, or anyone else, was another trade I did on the Norrkoping v Kalmar game. That I didn’t suggest it to anyone else is itself quite telling but, it is part of a new strategy so, I’m not sure it’s really ready for public use. Until yesterday this new strategy was 27/29 with the other two being scratch. It would not be unfair to say my confidence was high. This, I fear, was my downfall. My position was opened, the game began as I’d hoped but my sixth sense had been telling me all day that this game held a real danger of going against me. Even though my conscience was advising me to make an additional move to cover myself, I didn’t. The game went against me and I lost my entire liability, including insurance. Stakes were not huge as this strategy is still in testing phase but a complete loss, regardless of size, proves I had let this trade become a punt.

Over-night my time has been spent thinking about what had gone wrong. I’ve made numerous excuses to myself but the truth of the matter is I knew this trade was a wrong ‘un. I knew before I set it up, I knew when it was in-play and I had no doubt at FT. Mine was the mistake of an amateur, an action junkie, something I haven’t done for a very long time, I traded because I wanted to trade, not because it was the right thing for me to do. Comparatively, it was a cheap mistake to make, today’s card has made the decision not to trade very easy.

Some poker players will be in almost every hand, they simply have to be part of the action. Many golfers make excuses for themselves, place their ball, shave a shot or two here and there. Rarely do they improve and rarely are they successful. Own up to yourself about your mistakes, otherwise there is no point in making them.

Stay green.

 

~ by latraderette on June 28, 2011.

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