An Inauspicious Start

Today's Results:
Horse Racing... 7.4% loss. New bank... £30.83

I guess it was bound to happen. I didn't get involved in too many races today, but when I did, I didn't feel comfortable in what I was doing. Psychologically, I may have been trading differently having made my plans for this blog known and as a result became too preoccupied with wanting to make a profit. It didn't help that my kids are still on their Easter break so my mind was elsewhere anyway.

The day started off pretty slowly and was perhaps a sign of things to come. Both the 14:20 and the 14:40 saw me exit with scratch trades. This was followed with small profits in the 14:50 and the 15:05, but to be honest, I was finding the place markets difficult to read today, for whatever reason.

I only got involved in two more races before I had to play taxi driver for my son. I really wish I hadn't bothered as in both the 15:15 and the 15:40 I got badly caught out by these bloody spoofers who chucked huge amounts into the place markets. Both times I managed to bale out with a 5 tick loss.

It's annoying in that I generally ignore these large amounts when they appear but on these two occasions they came in immediately after I had placed my opening position. Unfortunately for me, they took the market in the wrong direction.

So, a disappointing day with a 7.4% drop in the bank, but I'm sure I'll get that back soon enough. I think I need to be careful this week though, as I know I'll get pulled away on family matters so trading will, by necessity, be somewhat limited.

No more trading for me tonight. I'll settle down instead to watch the Roma v Man Utd game. Back again soon.


Graeme Dand said...

Good Luck with your trading mate.

I'll be keeping track of your results.

It's good to see another fellow horse-racing trader as there appear to be fewer horse-racing blogs than before. My trading on the horse-racing isn't going great and I may have to return to full-time work unless I can start winning more in the very near future.

I have stumbled across golf trading though and it looks to have opportunities to exploit, so I'll see if I can make a go at this.

Good luck.


Alistair said...

Cheers Graeme,

To be honest, I'm not a horse racing man - foul smelling things. I'd rather look into other sports for trading opportunities, but with the quantity and liquidity of racing I think it is a particularly useful string to have for your bow.

With the summer quickly approaching, there will be loads of evening races on which may fit in better with your work, so don't give up on it yet. I think trading the horses can take months to master, but it's certainly a good goal to aim for.

All the best


leonthefixer said...

Hi mate,

I found your blog via. Graeme's which I read daily. I started out similar to you trading with just £2 amounts and built it up from October last year. I deposited £160 and have turned that steadily into £2,700 in the last six months. Not a huge increase in money terms but still I think an impresive 1636% increase.

I have had a bad run of late and have been struggling to keep my consitancy up but I guess I must have been doing something right, I just hope I can start to increase the wins.

Anyway best of luck and with time I am sure you will build up to much larger amounts. If you would like to swap links (I need to update my links and replace blogs that have stopped) drop me a comment over at my blog:

All the best, Leonthefixer

Alistair said...

Hi Leon,

Sorry to hear of your bad run. All part of the game I suppose. Perhaps, a few days off would see you come back refreshed.

Anyhow, I've added your blog to the links list.