Tuesday, 28 February 2012

Ten straight demotions

If I were a football team, I would feel like I had been demoted down through ten leagues in one season, however I am not but what I am is a wannabe sports trader on betfair, one who is now trading with a bank of just under £30 with a stake of £3 whereas a not so long ago I had £289 and was trading with 5% of that each day.(Negaitvity over, move on)

It takes a lot longer to earn it back than it did to lose it. But I'm am glad as its presented me with further evidence that not sticking to the plan and by deviating from it doesn't work.

Sports trading/betting/gambling is a slow long term game and I have began to realise this over the last few days, as when I try to rush I find myself building up with tension, therefore I am now limiting myself to just one hour per day and no more to spend trading, obviously that rules out football well inplay at least, this is just to maintain my focus for just one hour and learn to accept whatever the market is offering. Then come away and have a think about how my session has gone, what I can learn from it and take into the next session, also I think that spending my free time either trading or thinking about trading isn't a healthy mindset to have, so that's another reason for not over trading. As time goes on I may review that with the help of one of the many professionals out there in the world of sports trading.

Good luck to yourselves.

Monday, 27 February 2012

Good advice

I received a comment on a previous post yesterday and I thought I would share it with you as its very valuable to a newbie trader (me included),-

'This is a very consistent outcome for a large amount of traders and one you can overcome. I have seen so many people get the basics right, start really well and kick on for a month or two and then one of two things happen. They start to aim too high or the discipline loosens. And that results in a loss. Once that loss comes the confidence is knocked and they have a bit of a panic. Some people at this point will raise the stakes to recover the loss and get in more trouble or worse still they will win the money back. If they win the money back, they feel a bit invincible and think if they get in trouble again they will be able to get out of it and so the discipline falls further. It is extremely depressing to come back the day after the big loss and that is why it is so important to avoid them. But when faced with a winning position, people can easily accept a win and exit, they become risk averse. They don't want to lose what they have so they take it. When faced with a loss, people become risk seeking and will risk further loss to avoid the one they are about to suffer. It is a well known reaction and has been studied and proven to be the case. You can come back. You need to have some time off, about a week, reload and start again with a new perspective. Take your profits quickly and your losses quicker.'

The comment came from the badger and he is one of much knowledge and experience and I would like to say thanks for taking the time to share your thoughts with us.

Saturday, 25 February 2012

The focus in trading

I think trading becomes all you think of, it must be getting to become an obsession, I feel that it has become just that for that for me, so instead of going through a couple of further boom and bust periods,(as per the last few weeks) I am going to go back to treating this as a hobby and trading when I can and not every time I get chance, so as per Cassini of green all over blog  has recently said, its best to put in some money you can afford to lose and build it up slowly from there.

So maintain your focus but don't let it become and obsession.

Friday, 24 February 2012

Markets Suspended

With regards my daily blogging activities and how I am trading, I am suspending, whilst I will still blog in the future, I will not be putting myself under the pressure of publicly display my targets, gains or increases on my trading for the day so to speak.

I think I may of aimed too high too soon and will be looking to work with a more modest trading bank of a few hundred pounds, until I feel in my mind I am able to use that amount of money effectively and confidently, also without going into the 'snow ball' effect where I feel I should be winning more and more each day, I will be attaining such a level and staying on a plateau until such time I feel comfortable.

I did have a spreadsheet showing daily increases until I hit the £5000 figure and after my first big loss last week, I went on to revise it and that became my target for around November this year, then suffering my second loss this week I have decided that targets are nothing but a way of increasing the pressure on myself and have will now take each day as it comes. Just mentioning my big losses this week I wasn't in a red position at all when it came to going inplay with my bets I feel it was just born out of greed and trying to win more than I did the day before. 

So still blogging but not on the same note as I was previously but will still be sharing my experiences with you.

Wednesday, 22 February 2012

Day Twenty seven

Made some massive errors today, messed up big time, went inplay, lost loads, not going to go into it right now but its a long way back from here. Its a mixture of greed and being impatient, not trading anymore tonight, seriously f'd off with myself again.

Tuesday, 21 February 2012

Day Twenty Six

Did the old faithful when I got back from work, having negotiated through some sheep on the motorway and managed to trade the horses again, I made about £15 and decided to have ago at laying the field in one race as there was only five runners, so I dutched two runners by laying them at around 6's for £3 and backed them higher in play for £2 to guarantee a £2 profit on any runner and then laid the field at 1.75 and and made a further £2 profit and locked in around £4, tried it again on the next race and lost £0.60 so went back to normal trading- result +£22.

Traded the game between Blackpool and West Ham, I did a mixture of U2.5/U4.5 and a bit of CS, locked in a profit on the under/over markets and was going well, but all didn't go to plan with the first two goals coming from West Ham, so for about 3% risk to my trading bank I made around 1% in total. Traded with the TF guys again, really enjoyed the company in their chat room. Still need guidance in my football trading and these guys are excellent at giving it.

Monday, 20 February 2012

Day twenty five

A quick attack of the horse racing markets today, nothing more than a handful of races left for me to trade, I increased my stakes to increase my returns given the remaining races. In the last race of the day I was scalping with £150 stake and I the market must of steamed about 10 ticks instantly and I was able to hedge on any runner for £19 and scalp another horse in the same race and made a further £3 in that one, and an average of £3 in the other six races. So I've broke back through the £200 mark and made good progress, I was considering trading some football tonight but feel a bit tired from my first day back at work so I'm going to leave it, but there is no reason why you shouldn't get involved with a free 14 day trial at trading football - good luck.

Sunday, 19 February 2012

Day Twenty Four

I'm still battling back my big loss on Friday, but took it steady today and traded every race, yes all 22 of them and came out at the other end with £38, not a bad return at nearly £10 per hour, a lot more per hour than some real jobs, but I can't realise the profit out of betfair just yet as there is a hell of a lot of bank building to be getting on with.
Anyway today has restored my confidence in my abilities and now just need to learn how to cap my enthusiasm/curb my greed and maintain the same discipline as we come back, because until I have recovered all the loss I don't think I will be able to feel like we are making further progress.

Back to the real world tomorrow and back to my real job, the school holidays are over and I may only be able to trade a couple of races per day now, will have a look later, but there is champions league football that I can trade with these guys.

How to trade Pre Match

A quality video from the Prematchtraders / TradingFootball team.

Day Twenty-three review

A bit late in writing up yesterdays trading activities, but a successful day it was, I was still a bit raw and apprehensive about what happened on Friday so I felt some kind of nervousness about making a 'mistake' and not having control of myself and my mind but scalped away and came out of it OK, I just need to maintain the same routine and my confidence in trading will return.

Looking at the bigger picture of this challenge I am not sure I will be able to cope with trading with banks at increasing levels day after day until I hit the £5000 mark. The challenge may take longer than I first thought and I will have to take a more graduated increase in trading bank amounts, by withdrawing any profits daily or weekly and only increase at the end of each month or so. But we will see how it goes.

Saturday, 18 February 2012

Saturday Offerings

Not too sure what today will bring me trading wise, already traded the first three races and done ok, still annoyed with myself with yesterdays episode, you could say a bit of 'lost' enthusiasm, I know what it is that I need to do mentally and that is find a middle ground where I am content with the bank growth but also not bored where I'm not interested, percentage wise I think the 3% is too low for every day especially when you consider what is on offer at the weekend to trade, on the other hand its probably about right in the week when evening races start again.

Whatever you trade/bet/gamble on today goodluck.

Friday, 17 February 2012

Day Twentytwo

Well I suppose they come to most people, but sometimes you have a choice of losing or not and it was me who took and me who decided to go inplay to get 'more' profits and I would put it down to nothing but greed on my part, I could have done nothing and moved on to the next race, I can't even remember what kind of position I had before the off. Anyway I call it the 'snowball' because as you bank grows so do the profits and so does your bank and so do the profits and..... you get the drift, the bigger the bank the bigger the profits and the easier it is for greed in me to take over, I have had days like this before where you want a bigger bank faster and I have also imploded and lost before, but I may have lost two thirds of my trading bank, but I am still well in front and I can also be thankful its profit in betfair and not physically my own as yet, well mentally it lessens the impact if I think of it in that manner.

So I took a break for a couple of races feeling quite sorry for myself and reflecting on what had happened and just got back to the PC and carried on trading, I managed to recoup a portion of my losses but still ended the day down by -£176 but looking at my spreadsheet and week on week I am only £31 down but have yet again learn't one hell of lesson, I'm sure I've read somewhere that I should put post-its of the wall to remind me of f@ck ups and when you can't see the wall its time to stop, but I think I'm safe to carry on for now.
Just looking at betfair for the weekend and seems to be plenty of horse racing to go at, so lets just do that and keep going.

PS thanks to robbo and the guys in the trading football chat room again today.

Going with the flow

The goods time seems to have got the better of me today, I always get myself into a snowball effect and only seem to get out of it when I get beaten by my own drive for greed, yes greed as I see bank rising rapidly I feel the need for constantly winning more and more, you can probably see it over the last few blog posts where my trading bank has increased significantly over the last two weeks by £200, well today I have proved that I am not ready to receive that level of money from trading and have subsequently given it back within a 'mad' 20 minute period, where I was more concerned about winning more than ensuring I'd kept what I already had. So all the 'credit' days I had built up on my challenge have nearly all been wiped out by being stupid.

I have a plan and I should stick it.

Coming in from the cold

Trading days are back from the cold, there are over 40 races on offer to trade today, Newbury starts early @ 12ish and Dundalk wraps it up late on at around 830, plenty of opportunities to take my trading bank to new heights and far in excess of the 3% I have forecasted, but I don't think it will be a straight eight hour trading shift, where I will probably do it in two lots of a couple of hours at a time, as I don't think even the pro's would trade all of them. Although handyandyhomer did trade something like ten hours on football last weekend, so well done to him. All of the above obviously depends on what senior management (mrs) has to say about me trading the whole day on my day off, will catch up later see ya.

Thursday, 16 February 2012

Day Twentyone

Excellent day of trading, great banter in the trading football chat room again, relieves a bit of the boredom from trading, no in depth review tonight as I'm off straight out from here but in total nearly £40, so amazing result and definitely will have to start withdrawing while my challenge days catch up. Friday tomorrow and should be another good day, see ya.

Wednesday, 15 February 2012

Day Twenty

Good full card, shame about the jockey at Southwell getting injured and throwing those races out of line, with about a thirty minute delay, so the first one I got involved with was already subject to a delay a didn't realise at the time that there was a problem, still plenty of coverage for Bet Angel as they sponsored the whole meeting. 

With plenty of races came plenty of opportunities, leading me nicely onto a comment I got on twitter yesterday- 'you put that you've learnt how to put your money through the markets but say what you're doing? could you give some more info?' from Andy on twitter.
What I do is start with a stake of 5% of my trading bank and will either place a lay follow by a back or a back followed by a lay- eg If I place £10 lay at 5 and then place a £10  back at 5.1 I will have made 0.1 times my stake, in this case £1 on this runner but if you divide the £1 by the current lay odds for will have made around £0.20, if you can repeat this process many times before a race you can lock in a profit before the race has even begun, that is the basic idea of horse race scalp trading in a nut shell, many articles have been wrote before and there may even be one in the title bar above. 

On a personal note again I have made another 10%, although this gain is fantastic I am extending the gap between my current day (20) and my trading bank total (64) so although this could allow me to finish my challenge early, this is not my intention but I do plan to start withdraw a little each week until the gaps between current and project trading day are nearly the same.

Tuesday, 14 February 2012

Day Nineteen

Another tremendous day trading on the betting exchange, I have started to learn how to put my money through the markets, even though I have only been using 5% stakes from my £200 bank I turned over more than £100 backing and £100 laying in the first race today, rather than earn the £1 a race I have previously been looking for I made £2.67 in that race and my biggest win was £4.03 and lowest was a £0.95 loss.
Nice that there was more than one market but a shame that folkstone was cancelled this morning. I finished horse race trading with a profit at the end of £22.84, later on I decided to get involved in some football and had a bit of chat in the Trading Football chat room, they offer great advice and guidance, but I decided to go it alone and ended up -£2 down on the football, if only I'd followed the crowd as there matches had goals going in everywhere. So tomorrow night I will be following the lads in their. Update I layed the 0-0 @ 1.2 and obviously it finished 0-0 and cost me a further £1. So a 9.3% trading bank increase.
Good day that was.

Monday, 13 February 2012

Day Eighteen

Well like I said earlier one whole meeting of horse racing, obviously the weather is taking its toll on some courses, but this is no sprint this game, so take what's on offer and that's what I did, not a massive gain, but enough to tip me over the £200 marker or 4% of the challenge total. Today saw massive gaps between races and I took the plunge and joined Trading football, had bit of banter between races in the horse race chat room, been having a look through the members area, some brilliant resources available to wannabe traders and seasoned pros a like, made to feel very welcome and look forward to some happy days with them.

So to compliment my horse race scalping I now have an opportunity to learn a bit more and profit a lot more on the football, so here's to the future- Cheers

One sport, One meeting

Having not really thought about Monday being a poor day for racing, I didn't really expect to be sitting down to my PC to see there is only one measly meeting on the card, seven races from Wolverhampton and not even an Irish meeting to supplement it with. Will be an effort today to achieve my goal and will probably follow up the afternoons trading with a football trade, to keep the bank growing.

Sunday, 12 February 2012

Day Seventeen

These days of my trading challenge are soon racking up now, I have been going now for over two weeks and should have a bank of £62.58 if I had been increasing at 3% per day, but as I have been able to increase at a better rate each day I have nearly three time the projected amount and if I had trade for 3% a day it would of taken until day 57 to reach that amount I have now. So where I am impressed with myself is the gains I have made and stability in the way I have approached my trading each day, whether that be horse race scalping or pre match trading of football from my Iphone during the normal working day.

I made some notes today whilst trading to enable me to share some of my thoughts with you, they included-

  • Maintaining composure, learning that losses are an inevitable part of trading- accept them and move on.
  • As above I wasn't phased during the 1415 race where I had worked myself into a -£1.88 loss but managed to turn it around to a £1.95 profit.
  • Being decisive and acting on what you can see in front of you.
  • Contradiction to point above is being decisive but being cautious.
With one of the meetings cancelled today it left plenty of time between some races, I have managed to resist temptation and don't feel like I need to get involved just because there is market in front of me, patience and discipline in me are really developing now. One last race left of the day left and going to take £1 or so out of it.

Saturday, 11 February 2012

Day Sixteen

Well to start with I didn't make any in roads to reduce my loss on the Man Utd game in fact it increased by £2 as I layed the 2-1 scoreline @ 1.20 as I thought there may have been a late goal since Liverpool scored minutes earlier, but not to be as I eventually lost £7.86 in total on the football.

But on the flip-side I have traded every horse race up to now this afternoon and have recovered my loss and then some again on top to boot, really successful afternoon on the horses and there are plenty of races left yet with the last race at Wolves at 1920 but don't think I will trading much longer as I'm at the theatre tonight watching my youngest in Goldilocks, but made enough to be sure that this going to a good week off work.

Day Sixteen preview

Seems like my CS trade on Man Utd pre KO isn't going as I planned I even switched from the 2-0 to 1-0, currently looking at £2 loss instead £2 gain into my trading bank, will wait until just before KO to settle any profits/losses, anyway no worries I'm sure I will make it back on the horse racing trading this afternoon with a bumper card of five meetings across UK and IRE, I may even stretch to a go on the Scoop6 as the winner could land themselves nearly £400,000 including the win bonus, so would boost my bank a little you could say.

Friday, 10 February 2012

Day Fifteen Update

I stopped for a break straight after the last post, but I came back to trading horses as there were two evening meetings, thought I might as well make hay while the sunshine's or maybe while the snows not falling that is. I picked up where I left off and continued with the £100 stakes and mostly did OK, unbelievable to think that I could make £5 or more per race if I could get it right in my mind, but sports trading is a long road and increasing my stakes ten-fold in a day feels like I have skipped a few pages in the instruction manual.
Where I started trading with 10% stake of my bank and have recently plateaued at £10 while I am between £100 and £200 bank level and then continue increasing with 5% of my trading bank, this is a gradual increase each day and not ten-fold like I mentioned, so it was good while it lasted and made a tasty 35% of my bank I plan to bring myself back down to earth tomorrow and revert to normal discipline.

In other news I have got a pre match trade on Man Utd v Liverpool on the 2-0 scoreline, not concerned whether or not it will be this score as I should hopefully be greened up and in profit before KO as this is not a trade I would take inplay as a goal from Liverpool would wipe out my stake and I'm not risking that, saying that there are ways to offset, like laying Man Utd in NG market as a goal from Mancs you can lay 2-0 at lower odds or a goal from Scouse and you lose CS but win in the NG market, no goal and the 2-0 would shorten to get matched and NG would drift slightly, so you would be green in both markets. However this is not something I will be taking on as I don't experienced enough as yet. Kind of got the theory and still learning the practical a bit at a time.

Quick side note- really enjoy the twittering with other traders, I have far from made it but it feels great giving out advice to help people on with their trading. @newsportstrader

Day Fifteen

Today went really well, until the last couple of races, I knew it was happening to me but felt compelled to carry on trading, earlier in the day instead of my normal lay to back bets, I started by backing to lay and instead of £10 stakes I was using £100, the profits were rolling in, between £2-5 per race I was loving it and just kept banking the profits and things were good... When using bigger stakes obviously bigger losses will happen I got caught out with £10 loss as I couldn't recover the loss and was thinking clearly and went into the next race and lost a further £7, so with my bank at peak today of £137 I currently have £120.58 in my betfair.
It was like a snowball effect and I didn't feel like I was in control of my trading nor emotions, I suppose this is why I want to aim for moderate amounts per day, so that I don't get overwhelmed by the massive 30% increase. So with 3% the daily goal I still feel like I could make more but need to stop at max of 10% daily gain. I can take some positives from the days trading and try to get over the negatives, to not use stake that are to extreme to my trading account and be sensible and employ the techniques that have got me this far.

Thursday, 9 February 2012

Day Fourteen

So Fabio has resigned and what are the media trying to stir us into, I mean is it not the sane set of media that build the players up and set them on the highest of pedestals and whip up the fans into believing we can go and win a tournament, just to knock them down before, during and after each tournament. We will only be changing manager and not drafting in XI new world class players, I sincerely hope that Harry Redknapp  doesn't take the England managers job as gundulf said yesterday this is a prestigious footballing job but to think the way press treat the England manager I think the cons far out weigh the pros, also Paddy Power have already paid out so would love it to go to someone else for that reason also.

No time for any trading today apart from another pre match trade on the Lazio game but it is still a 1% gain on the bank, I set this up before bed last night for a £100 back @ 7.8 but only £50 or so was matched and I laid off @ 7.6, when figures involved become a bit more substantial I think rather than hedge at the current market price, I will be using them in conjunction with an inplay football strategy and try to eek a bit more of a return for my efforts.

Horse racing is really being battered by the weather and hopefully the 'all weather' (lol) will hold out and be taken by the snow again. I am expecting to see a 'spike' in my profits through the next week or so as its half term for my kids and I have taken the week off to spend time with them but I'm sure I can devote sometime to betfair also.

Wednesday, 8 February 2012

Day Thirteen

Unlucky for some, but not for me, I scalped the Barca 3-0 @ odds between 9 and 9.4 but the odds have been up to 9.6 and are now down to 8.4, I only made 3% on my bank from it but obviously I could of made more, also I have traded this over night and throughout the day, also got a few pence (69p) on the weir side derby in the FA Cup, but apart from that I haven't done anything else. On a side note I traded this from my Iphone on Ibetmate, a really good app If you don't already have it and I used oddschecker mobile to confirm what I was thinking in terms of odds movement. So there's still money to be made- slow time away from the PC.

Tuesday, 7 February 2012

Day Twelve

I started out on today's goal by setting up a CS trade on Birmingham 2-0 scoreline, I backed £100@8.2 and staggered my lay bets in £20 from 8.0 downwards, only a couple of them were matched and I ended up -£5 on all scores and went on to back the 0-0 as only the high scores were drifting and the under's were coming in so it pointed to low scoring game so I backed £95 @ 11.0 and progressively laid off as the odds fell, I then went on to trade the 0-0 and 1-1 again HT but one went right and one went wrong so they offset each other, so I finished on 5% up for the day.

No horse race trading as no time, but look forward to lighter nights and evening racing coming in, so mainly will focus on pre match trading and at HT but trading inplay when I choose the right strategy with the help of betting system notes and picking the odd couple of horse race scalps per day as time dictates. As a side note to trading but have you tried oddsfutures yet, you get a 20 bonus when you sign up with just €10 so good luck

Monday, 6 February 2012

Day Eleven

I am writing this post as I trade the Liverpool v Spurs game tonight.

Time 1950-Pre KO

So pre match trading has set me up for a good trade on the 2-1 scoreline which I will be backing up with some cover on the U1.5 goals, I am in profit with no goals and bigger profit with a couple of goals to get to the 1-1 or 2-0 scoreline thus voiding the U1.5 and laying off the 2-1 at much lower odds.

2020 - 20 Minutes gone and I have now laid off my U1.5, so no liability on O1.5 and still green on U1.5 to match the red of £2.20 on CS markets, so currently have minimum risk of two quick goals to Spurs or betfair going down.If no goals before HT I plan to scalp CS @ Ht and get rid of the red on CS so just left with two green books and waiting to lay.

(As a side note and while I have time to type , I will be scalping the CS with £100 stakes, not proportional to the trade but this is the level I will be staying with until my bank reaches around £500)

I got distracted with my youngest daughter and have missed the boat with the HT scalping but have gone ahead and got involved looking on the wrong side of -£4 but will give until the end of HT to red up, gone back in on the 1-1 trying to get a tick down from10-9.8 didnt get matched.

2nd half I have back 0-0 and 1-1 for £5 each  with a view to lay off the 0-0 at 2 (this could be a learn exercise tonight. ie stick to the plan and follow it)

71 Minutes gone and still no goals, I have laid off the 0-0 for -£6.38 any score except 1-1 £40 and 2-1 £51, as it stands still no goals and overall loss is now £4.12.

80 Minutes gone and 2-1 is way out to 200 to back now, little hope of laying that off now.

90 mins gone and just laid the 0-0 for £10 @ 1.2, looking for a late goal to recover the trade.

FT and it ends 0-0 a losing trade but you cant win them all. Looking back I should left the U1.5 to run through till HT and greened/redded up both markets and called it quits as it would have a profit given I already had 4% green on any score but never mind, like I say its an educational day.

In other news I did trade a few races (£3.45 green) to offset some of the red but lets count today as more of an education than a day of profit

End of day -£2.60, but the mental side was worth a lot more.

Prematch Trading

You can't beat a bit of pre match trading to kick off the week, over night I have made my 3% of my bank on the Liverpool v Spurs CS market, great result and the game hasn't even KO'd yet. You really should be getting involved at pre match trading check out these guys and give them a go.

Sunday, 5 February 2012

Day Ten review

Didn't touch what was left of the horse race markets, as I went off sledging again. Back in time to scalp the 1-1 in the Chelsea/Man Utd game but didn't managed to get my lay off before KO but took the view of the fact that the teams were evenly priced in the Match odds, so a goal from either side would see the odds shorten dramatically or as happened my lay @ 7.2 was matched within five minutes, I used this in conjunction with a couple of back bets in the CS market, so when the first Chelsea goal went in I reduced the red to zero and the second goal stunned me and I only laid off a further £2 on any score leaving £33 on the 2-2, wanting Man Utd to nick one back with a view to lay off @5-6ish but threw that away when Chelsea scored a third, fast forward to 3-3 and I thought if the reds can come this far they can win it, so I did a LTD for a couple of quid, no further goals and ended a few quid down.

After tea I did a similar move to back and lay the 1-1 at KO on the Zaragoza  match and repeated the move at HT twice over and made nearly 4% of my trading bank on one match. Its nearly HT in the Athletico Madrid match and may try a similar move if one presents itself.

Lets hope the weather lets up a little so that racing can commence tomorrow.

Day Ten Preview

No horse racing today as the cards a bit of wash out or should that be snow out. So I am concentrating the football by doing NN or nugget nibble, for more info on my trade go to here, also I have got a whole bank trade on the 1-1 score trying to nick a tick to aid my strategy pre KO but I dont mind taking this inplay to see it matched as if either team scored the price would shorten and the 1-1 wont drift until HT. So I will report back an update see if I can get myself over the 2% of my total challenge.

Saturday, 4 February 2012

Day Nine

Question, When is an all weather track not all weather?
The reason is because just come back from sledging with the wife and kids and expecting to catch a few late races and Wolves has been abandoned due to snow and obviously that's not 'all' weather. Did manage to do a lot of races before we went out and a fiver in the kitty from that, so a good day in all both on pc and in the park too.

Scoop6 bonus fund

Good luck to the one lucky punter who has to chance to win up to £1/2million today.
You can get involved this in this weeks jackpot now  

Friday, 3 February 2012

Day Eight

I should be calling this day 7.5 as its only 1650 I have just traded my last trade for the day, even with the card that's been available I have still pulled in over 10% in 10 markets, my biggest return in one race was 3% of my bank. Waiting for right opportunity is the key, getting in too early when the market is formed or has to many gaps will often leave you on the wrong side of the correction and many ticks out of profit, while waiting for the right time and generally trying to get a 'feel' for the market and try to understand trends and so on, seems to allow you to build on what you can see happening in front of you and take advantage when you see fit.
No football for me tonight but will be having a look at the weekends fixtures.
Keep it green.

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Thursday, 2 February 2012

Time for summary/ Day Seven

Starting with the PSV game tonight I have exited with in excess of 5% of my bank and have left that game to wait for the profit to return to bank.

Looking at the bigger picture I have now doubled my trading bank account within a week, so I have effectively chopped seventeen days of my challenge, or more importantly I have given myself seventeen days in bank to fall back on for the off days, scratch days or 1% days. Going forward I will have got to a suitable level where getting involved in football matches and paying for subscription services, as the subs costs will be more than covered with bigger profits.

Wednesday, 1 February 2012

Day Six

With the weather playing havoc with the racing, it was lucky that Kempton went on into the evening to give me more opportunity to trade. I did manage to get 2.5% over four races and was planning to scalp a couple of football matches at HT, which went as follows QPR v Villa (CS) -£1.06 and B'burn v Newc +£1.07, not ironic that the amounts are so similar because the CS markets score odds are at similar levels at HT, due to time decaying markets (something I learn't about today, I think). A positive step forwards but did expect a little more, but lets not get over excited as its still a long road yet.

OK edit some of the above, I have just dived into the Villa CS market and nicked a few ticks on the 2-2 when the market unsuspended while it settled and halved my loss to £0.50, so I am good for my 3%. Note I don't think I did that out of desperation to make my target but merely took advantage of the situation.