My Pleasure Or Yours?

Today's Results:
Horse Racing... 22.4% profit. New bank... £68.10

An excellent day, yet at 11am today it didn't look good.

First off, my Internet connection went down when I was in the middle of creating my previous post. Don't know why, but I was off-line for 20 mins or so. My broadband is supplied by Freeola and in the six years or so I've been with them this is only the second time it has gone down.

Anyway, given my somewhat intermittent trading times this week I was coming to the conclusion that today was going to be another frustrating day when my ADSL jumped back into life. So I spent the next hour or so clearing the decks in readiness for this afternoons trading when a client called at noon. All their machines had crashed - their words not mine. I spent the next 15 mins on the phone trying to resolve the issue and in the end decided an on-site visit was called for.

So off I went, disappointed that I was likely to miss much of the afternoon racing, but satisfied that I'd be able to charge them a hell of a lot more than I'd earn trading the geegees. I got there just before 1pm only to discover that the problem, whatever it was, had corrected itself. It must be my magnetic personality!

I spent sometime there trying to trace what the problem was, but couldn't find it. None of the various logs indicated any issues. All the network equipment was behaving itself and performing as it should. I hate that. Without knowing what it was, I cannot put measures in place to stop it happening again. One good thing though.... I was back by 2.45pm and ready for some trading.

But what about the trading?....

I got off to a nice steady start making profit in the first four races I entered. Then I took a bit of a step backward in the next three, but I was still in profit for the day despite not trading particularly well. I then got into a bit of a groove and slowly but surely built up my profit culminating in a piece of madness that fortunately I managed to get out of with something to show for it.

I'd switched to the 17:10 and whilst I waited for some liquidity I went and got myself a drink. Came back and spotted some nice movement going on so jumped in. I'd forgotten to note the time and as soon as my bet was matched, the race went in-running. Arrrgh! Panic time! It was a sprint as well so not much time but thankfully I managed to trade out with one of my better profits of the day. My word though, that doesn't half get the blood pumping!

So new mantra...

I took a short break but I should've stopped as my judgment was somewhat impaired and the next races I entered resulted in a scratch and a loss of half the profit that I was so fortunate to get in-running.

After dinner, I entered four of the evening races and came away with a tidy profit with some of the best trading I'd done all week, doubling what I'd earned all afternoon. The best of these was 'Your Pleasure' in the 19:50 at Kempton which drifted very nicely in the place market. So the pleasure was indeed all mine.

So, a total of 20 races traded today with 2 scratched and 3 losses resulting in a very healthy 22.4% profit.

One final word, and a complete change of topic...

Congratulations to Rangers on an excellent win in Lisbon against Sporting Lisbon - and that's from a Celtic fan!


leonthefixer said...

Hi mate - just done a quick catch up on your blog and it seems are moving along nicely for you. If you keep up these small % increases it won't be long until you are making good money profits. I like the way you have gone about trading by building it slowly from a small amount. As you know that is the way I did it and I think it aids you in the long run as while you are learning you are only going to lose a small amount if things go wrong and as such you remove the pressure you can place on yourself by using bigger amounts. The API going down is something that is always a worry and as you seem to be a computer wiz kid I am sure you are covered for various eventuallities. I always run a laptop next to my main computer which is connect to Betfair through Bet Angel but on a non-api connection. This means I am covered for a power cut, internet failure, telephone line failure and API failure. I also have right next to me a land line with the Betfair Betting desk number and my telephone account details ready to go so at a moments notice I can be through to them and closing a position (something I have had to do a few times) I also have my mobile next to me with the same details ready to go. I have also just recently opend a Betdaq account so if Betfair goes down I can get out of a position. I remember when I first started my blog I was abused by a few people on the forums about all the measures I take but I think if you are doing this properly you can't afford not to have these measures in place! Needless to say I havn't seen many of the people who gave me abuse around for a lomg time and strangly non of them were willing to enter my daily P/L tournament which I have run previously. With regards to missing the start of a race, we have all been there, one of my worse errors has been where I have rewound the sky+ and forgotten I was watching behind live, only to have a trade in and the race to start when on my screen they are still loading!!! Sometimes you get lucky and make a nice profit, other times you willl be punished - learn the lesson and don't let it happen again. On Bet Angel they introduced a function that talks to you saying 5mins to the off, 1mins, 30 secs, 10sec. I have to say this has helped no end and I am sure with your computer skills you could write some program to do the same. (You maybe able to tell my enter key isn't working for some reason hence why this isn't in paragraphs) I have never really looked at trading the place markets as I have always concentrated on the win markets but I may look into them in the near future. I find the evening racing very tricky, I feel there is a lot of spoof money around in the market and as such I am very reluctive to go into the market, I think I also need to cut my stakes in half as the liquidity just isn't there - I am hoping once the evening racing starts proper in the next few weeks the liquidity will be similar to the afternoons. On thing that I am going to leave alone today though is laying things in-running at the evening meeting after waking up around 3am wanting to know if the horse I had just laid at 130-1 had actually got up or not on the line after I had thought it was beat - talk about taking your work home or even to sleep with you! Took me some time to get back to sleep and I never did find out if it won or not :-) I took it as a sign to leave i/r well alone today! Anyway thanks a lot for stopping by my blog and all the best for today - remember a 5% profit is some going - better than most will achieve - keep disciplined and you will see those profits grow in monetary terms - one lack of discipline can cost you big so don't let it happen to you!

Alistair said...

Hi Leon, good to hear from you again.

Thanks for your comments regarding my progress. I am pretty chuffed with things at the moment as I've had a good run. Still along way to go until the bank is at the sort of levels that would make this lark more like a job than a hobby.

With regards to the place markets, I really like them. I like the volatility, but yes, I can see me quickly getting to the stage where my ever increasing stake size gives me a problem getting matched.

At some stage I'll have to get to grips with the win market but so far my limited forays into those have been rather hit and miss.

I don't have the level of backup you do. At the moment I cannot justify the expense. Once my bank has grown then yes, it is something I need to consider.

In fact, a longterm goal would be to move away from the horses and their rapid markets and concentrate on other sports such as tennis and footy. I need to develop strategies I'm happy with first. I need to build up a bigger bank first though before I get seriously involved in other sports.