Good evening, Ken,
Thank you for taking the time and effort to answer my questions.
I appreciate your openness and recognise your integrity - it shines through.
You sound around my vintage - 58 and I can empathise with much of what you say and with some of your attitudes.
When I was a kid we were very poor and both my parents had occasional flutters, a shilling each way.
Oftentimes those two shillings when lost were the difference between a jam sandwich Sunday lunch and sausages, cabbage and mash or not being able to put those shillings in the electricty meter for a couple of days. I remember the anguish and regret when they lost.
I remember a great treat when my mother won on an outsider. With the winnings we went on a day trip to Redcar or maybe it was Ripon - I was a child and that's a long time ago - (we lived in Leeds) to see live races for the one and only time. Walking from the train station to the race course I spotted something folded square and pinkish red on the grass. It was a 10/- note. My mother insisted I choose a horse and she would back it to win with all of that 10/-.
If it won I could keep the money.
It was very rash and unwise - it was a lot of money.
I still remember the horse we backed, Shamrock Star.
It won at 5-1
For me it was a formative event because I decided that no way was that money going to be given back to the bookies. I would keep it until the next occasion we had a bill we couldn't pay - and that's exactly what I did.
For the last six years I have traded full time for a living and that refusal, born that day, to give profits back to the market has remained with me - so I never over trade and always minimise risk - I never sit watching myself losing money waiting for a stop loss to be hit - I just get out if a trade goes against me.
I digress, but I think that story tells you things you as a semi -pro will understand very well.
With respect,
Richard