A Grand National Day For Me

Today's Results:
Horse Racing... 20.3% profit. New bank... £50.77
Tennis... 10.3% profit. New bank... £14.89

What a great day! I started the day with a scratch and a loss and finished it with a loss and a scratch, but in between I had some great trades. All in all, I got involved in 8 races today.

It's a funny old game this. All week I've been chastising myself for wasting good, profitable positions by being too greedy and trying to get a bite too many. Yet I did just that in the 3:20 at Lingfield and wound up with a 12% increase in my bank from that race alone.

The next race was much the same, with another big boost to the funds.

I didn't trade the races in the close run up to the National, or the big race itself. I did have a £2 punt on behalf of my mum on Mon Mome being placed. She's not a gambler, but she fancied a bet on the National as she picked up £33 with an e/w punt on Silver Birch last year. So I watched the race and cheered that on.

Although I only started this blog a week ago, my trading project has been running since the 23rd Feb. As is my want, I started on the horses with £10 and when staking I have used my full bank each time adjusting it accordingly after each race. (Someday, I must put up my profit performance graph). Anyway, now that I've reach the £50 mark, I'm going to ring fence that £10 so that I'm now playing with free money.

Psychologically, I feel taking something out is important. So every subsequent multiple of £50 I'll ring fence another £10. I'll keep doing this until my bank has built up to significant levels by which time my stake size will probably need adjusting anyway as the place markets in particular may not be able to handle large sums.

Finally, a quick mention on the tennis...

As explained in a previous post, I've been applying my tennis hedging strategy to the Sony Ericsson Open. Or at least trying too. I've only managed to hedge two of the quarter finals. The remaining games I've either missed or I've chickened out and scratched the trade. So, as far as this competition is concerned, I'll take what profit I've made (all 10% of it), add it to the bank and draw a line under it. The bank moves on to the next competition where I'll repeat the process.

That's it for another day. I may not get much trading done tomorrow as I usually go and watch my son play football though I may get back in time to catch the last few races. Monday will be missed as well as I will be spending the day with a client.

So, until next time, happy trading.

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