It certainly feels like it after yet another terrible performance in the horse win markets. I came away with a small profit today, but that is thanks to the two Bet365 featured races and some decent matched betting.
As far as the trading is concerned I seemed to be on the wrong side of a sharp reversal in every race. You'd think I'd be on the right side now and again. Not this 'mug'. Last week, I thought I was beginning to get somewhere. Obviously not if the past few days are anything to go by. Indeed, I'm very quickly going backwards.
Aside from the two Bet365 races, I traded 15 races today and lost 6 of them at a cost of £22.93. Far to many large losses, not to mention the number of potential large losses that I managed to recover. My overall P&L for pre-race trading alone was -£8.29. That makes three losing days in a row for the pre-race markets.
One of the things that is frustrating me in particular is my entry points. If I join the queue at the head of the market, I never get matched. The market moves off in the direction I thought it would resulting in either scrapping the position or chasing the price in order to get on (always a dangerous thing to do in my experience).
On the other hand, if I jump ahead of the market to ensure I get matched, the market seems to move against me almost every time putting me on the back foot.
If I had any hair left, I'd pull it out! Instead, I'm away to see if I can wash 'MUG' off my forehead.