Business as usual

Business as usual, as usual as in the fact that since the last time I posted I have blown my bank all the way down to about £2.20. Since then I have backed a few short priced favs in the horses and worked my way back to about £7 odd last week, since then I have traded the horses making between 2p and 5p per race and my bank now is £11.56, I have stopped trading for today because I have already done 20 markets and I am not feeling like I am concentrating enough. Anyway I have looked through my records and my spreadsheet tells me I am     -£9 for the year and my bank at its highest was £264 and that was at then end of feb, fair to say that in a year I haven't learn't a great deal so it looks like I will have to stop going inlay and learn to accept losses and hopefully one day the good times will come.

Currently reading a book called 'Self discipline in ten days', lets see how I feel on 11th of Jan.

Good luck Happy new year and keep it green

straight lay?

Not much in the horses today, so I did a straight lay in the first race, there was an odds on fav and second fav was under 4's so I layed the third fav out of four horses, I was lucky really as I greened up inplay for £2 profit in the end the outsider won. I know what I did was totally wrong and not trading at all but pure gambling, but it came out of boredom, must try not to do it in future.

Little bit more

Today I traded what was left of the horse race meetings and made 5.5% of my bank, taking me up to the dizzy heights of £34.80

Boring but green

Nothing spectacular today for me but 6% added to my bank on betfair, its going to be a long road to get back to  where I was, but with no full-time job to go to its not like I haven't got the time to learn, today I made an average of £0.11 a race and finished the day with a rather tasty £1.85, taking my betfair balance to the new balance of £30.99, if only all days were that easy.

breaking the trend

Following a poor weekend, not thinking straight at all, a couple of in play trades later and my trading bank is now down to £29.19 it was lower but I have recovered a little bit today,but it is shocking to looking at my spreadsheet to see that I have gone from £140 to £29 in just over four days.
Whether I end up at zero and have to go and get a real job or if I recover and maybe get my bank going again we will wait and see.
I know all the rules in my head and how I want to play the markets but sometimes when it goes bad I am able to block out all common sense and go straight to gambling mode.
Hopefully this is something I can avoid in the future, lets see how it goes then.
Will keep you posted... see you tomorrow

Just over 50%

Sounds good that 50% doesn't it, shame it was a loss to my bank because I couldn't help myself but go in-play. It all started at lunchtime when I layed a horse for £10 got it wrong but got out one tick down, tried again market went right down, so I thought lets switch stakes to£100 and make the ticks up back backing it down and hedging up the green, obviously as soon as I put my £100 back bet in the market rebounded and I was -£7 on all runners, so my plan was to lay the horse for £10 and to green up in-play, plan never worked and I am back to the start of November in terms of bank size.

Very disappointed with myself, discipline went out of the window and I seemed to break every rule I've ever made.

Bal CF £50.55

up and down day

Nothing much to add to my bog, trading has taken it out of me today.
I made 5% of my bank and overall I am happy with that wish I could do it everyday because 5%'s will soon compound into doubling my bank, I always try and run before I can walk and imagine myself trying to make 10% or more,that just makes me make more mistakes and affects my mindset so 5% is my aim and then its time to turn off pc for a while and relax.

Going in-play is not an option

When will I ever learn, was trading really well today....until the 1745 @meydan, I thought I was unbeatabe adding up all my small little profits, before the big loss I had 5% of my bank in profit.
When I was trading the meydan race liquidity was crap, even worse than Irish races, I shouldn't have got involved and needless to say the market bombed against me and just couldn't accept the loss I was faced with, and scaled out to leave a £40 liability on a horse and +£5 on any other runners, with a view to back it in play anyway you know what happened next, and I have lost a weeks worth of profit in one race.

I seem to reach good highs and then end up not being up to it in my mind, something along the lines of I don't deserve it.

I must focus on the 50p a race issue, I know it doesn't have to be every races and trading does present lots of opportunities to trade horses, so why would I want to trade every last race that there is on betfair. Anyway all I would like is to have betfair balance up to £200 by the end of the year. there is about 20 trading days left this month so that works out at about 3.5% a day.

new balance £100- well pissed off

Starting too early

Today was going well, happily scalping my through the markets, when Southwell was abandoned but I thought never mind we can carry on with just one meeting and I did and went straight on and got in to the 1350 @ Lingfield way before the market had formed properly and went from one horse to the next getting it totally wrong and ended the race -£10.99 on any runner. It affected me a bit as I haven't lost like that before and hedged it other wise it would have been pretty bad on each of the runners. Luckily th eday was nearly over as I scaled the markets in the next race for a £1 or so and then put in a lay bet and left it, had it won I would have lost about £40 for the day, needless to say it lost and my losses for the day are £2.75.

I learn't two lessons today

1. Set a limit on the max loss per race, if it happens- close market and move on to next race
2. Don't get involved in the markets to early, I must wait until at least 10 minutes before the race is due to start before I start putting bets into the market.

Didn't trade the last race and went out and bought a Christmas tree for our house

Little increase for little effort

As the title says, not much for me today, I was all set to do the whole afternoon's trading but I got a phone call and had to go out and only got back to complete the last two races.