All Aboard The Rollercoaster

Today's Results:
Horse Racing... 3.0% profit. New bank... £55.65

Such a disappointing day. For various reasons, I've struggled to get any quality trading time this week so I was really in the mood to get stuck in today. Yet, as I'm sure you know, the Betfair API was playing up before the first race so I couldn't load any horse markets in BinarySoft BDI. Consequently, I missed the first few races.

Once I got going, I was trading rather cautiously - as I always think it wise to do when there's been issues with the Betfair service. I don't know if that was subconsciously influencing my performance but I didn't seem to get in a groove or have any real confidence in what I was doing. Still, I was in profit for the day.

In the first four races I got involved in, I'd scratched, won, lost, won and this seemed to set the tone for the day. Indeed, when the 3:30 came along I had one of my best trades ever and the day was looking like a potential double percentage figure profit. Yet two races later I wiped it out with one of my worst ever trades.

I was trading 'Edelff' in the place market where it was hovering around the 1.60 mark. All the signs indicated it was going to drift. It didn't. It started to shorten and I quickly got out for a guaranteed loss. It soon settled back around 1.60 again. Once more, I was convinced it was going to drift so I jumped back in. You guessed it. It turned on me and once again I came out having doubled my original losing position. As there were 60 secs before the off, I decided to take my losses on the chin and leave the market.

I write down the results of each trade as I go along so you can imagine my frustration when I lift my head up and look at the screen to see the bloody animal had drifted way past my original opening position and continued to do so until the race went in-running. Grrrrrrrrr!

I composed myself and managed to claw a few pennies back in the next race but that was me finished for the day. The kids were home from school and I had to take my son to his football match so no opportunity to trade any more today.

So, given the circumstances, I'm happy with a 3.0% profit but once again, it is tinged with disappointment as what could've been. I'm getting the impression that that is an all too common state of being for a trader.

2 comments:

zappi said...

Greetings Alistair,

Just a quick note from the states that i enjoy your blog and wish you much success.

Remember the name of the game is profit (large or small) winning even very small beats losing. Stay with your program and when you lose you lose a little when you win you win a little but sometimes win big.

Good luck Jake from New York City

Alistair said...

Hi Jake

Thanks for your comments. I agree, small and steady. 3% per day is a hell of a lot better than a bank will give.

I'm surprised you're interested in a Betfair trading blog as it's a pastime that you folks across the pond are banned from is it not?

Still, good of you to pop by.

Cheers

Alistair