Better Trading Day

Today's Results:
Horse Racing... 9.9% profit. New bank... £61.01
Tennis... 4.8% profit. New bank... £15.33

Today's trading got off to a good start as I had a little dabble in the in-play market of the Andy Murry match. I didn't do much as I only joined the action when the score was 6-5 to Murray in the first set. I traded the 12th game and the tie breaker for a small, but very welcome 4.8% profit.

More importantly, I saw enough of the action and how the market reacted to formulate some idea as to how I'd go about trading the tennis in-play in the future. Always good to have another string to one's bow. So stay tuned for further exploits on that front.

As far as the nags were concerned, I cannot say I was in the mood for it before it was time for the first race. This was reflected in my opening trade.

Once again, I ignored my own advice and ventured into the win market and promptly lost two ticks. I nearly packed it in then, but I persevered thankfully. It is worrying though the number of times I lose on the first race I get involved in.

That first trade seemed to put me on edge a bit for much of the afternoon. In a lot of the races, particularly in the early part of the session, I scratched or didn't get involved, despite seeing some decent movement in the place markets. To be honest, I was finding it all rather boring, and frequently missed opportunities because I was busy reading trading blogs, or trying to give an aging laptop a new lease of life. I just kept forgetting what I was meant to be doing.

Come mid afternoon though I did manage to get some focus and started to string some wins together. I did have a hiccup in the 4:40 at Pontefract where I completely misjudged the direction of movement on 'Young Bertie'. But that was the only other loss I had all day.

I did find the evening racing much easier as well, though my reticence brought on by last week's poor showing still lingers. I found myself latching on to many large movements throughout the day but tended to hang back a bit when they were spotted. As a result, I came away with profits that were less than half what they should've been if I'd had the courage of my convictions.

However, all-in-all, today was a good day. A 9.9% increase in the horse trading bank continues the slow recovery of the losses I suffered last week. And again, I've managed to minimise the number of losing trades: 23 races traded with 5 scratched and only 2 losers. Also, my stake size has now nearly doubled since I slashed it the other day.

One last point. I didn't do any further trialling, for cash or on paper, of the in-running hedging of the place markets today. The races I did look at didn't look all that promising so I left it. What I really need to do is set some time aside in the morning or the previous evening to make a shortlist of the races of interest. That was difficult today as my daughter's school was on holiday. They've only just gone back from their Easter break!

I don't know if I'll manage that this week as, assuming I can get the timber delivered, I'll be building a fence round the back garden having just had a 40 meter long conifer hedge removed. Hopefully, I'll be able to fit that in around some trading.

1 comment:

Anonymous said...

well done on a much better day mate - it is good to see. I had a shocker yesterday losing about £1 a minute!

I like you seem to place far to much importance on the first race of the day, I always get a little nervous about starting the day and if I get that first trade in for a profit or scratch I feel a lot better, yesterday I suffered a loss on it and it just put me on the back foot for the rest of the day.

I am thinking of doing a write up on my blog about the frame of mind and its importance to trading.

Anyway best of luck today and I hope you start enjoying the trading a bit more!

Leonthefixer