Wednesday, 20 October 2010

Cool Summer

Less than a week to go now before the new NBA season starts. While last season fell short of 2008-09, profits from trading this sport still make up the lion's share of my annual profits.

I've looked in on a couple of the pre-season games, and the liquidity seems to be reasonable again. This has been a tough summer, with baseball hardly worth the time and effort, and my balance has still not recovered fully from April's disaster. The longest drawdown in my trading history was from 1.Jan.07 to 5.Aug.07, 216 days, before the balance was again onward and upward, and today is 216 days since the last 'high' in March, so I'll be breaking an unwanted record there. Still, always looking on the bright side, if I have an 'average' November, (my third best calendar month historically) I'll be there or thereabouts. Unfortunately, May was the last month where I beat the average, so confidence is not high.

I don't, but should I ever have any inclinations towards trading full-time, all I would need to do is remind myself of these tougher times to lay that idea firmly to rest. I can only imagine how stressful such periods would be. As I've written berfore, it's one thing doing this as a hobby to make a little extra cash, and quite another to do this as your only source of income.

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