Seems like everyday before I start trading I feel anxious and begin to wonder if I can repeat the previous days efforts and profits, after a few races I can get into a grove and wait patiently for the next trade to present itself or the next race if I am content with the profits on the current race. I have just been going over the P+L from my betfair account, I traded 39 races and made a profit in 37 of them, my biggest win was £1.12 and smallest was 7p, the two loses I had were -7p which is basically a scratch and the other lose was -£1.78, this was the last race of the day for me and the reason I made such a huge lose was because my trading bank was on £121.94 and I wanted to make that extra few pence to round it up to £122, this obviously never happened and I could feel myself being tired and not being focussed enough to carry on, so I shut down The Geeks Toy and left it there for the day, I am pretty certain that I would never have allowed myself to make such a lose earlier in the day as it came from over staking and trying to force a position when it was clearly going the opposite direction to my trade.
Total profit for the day was £23.53 an average of £0.60 per race, very happy with the consistency and being able to maintain it through most of the day.
I do not feel I am in the position to give advice to newbies yet, but here goes- it was only a week ago that my trading bank was only £28, and 7days later and after 222 markets I have done considerably well, my format at the moment is 2-3 scalp trades with a one tick offset per race on a 10% stake gives a good return per day, so I just want you to know it can be done.
Now that my bank has exceeded the £100 barrier I has switched to £10 stakes, I feel this is a good time to level my stakes and allow the bank to grow and at the same time reduce my stake to 5%.
Not trading today, bit of shopping with the wife and find somewhere to watch the football later (c'mon United).
See you later keep it green