Waiting For The Big One

Today's Results:
Horse Racing... 4.6% profit. New bank... £80.13

I knew I should've shut my trap yesterday. I've just packed it in for the day after getting caught badly in the 7:15 at Banbor-On-Dee by a sudden swing which has more than halved my profit for the day.

To be honest, I should've stopped before dinner time as, true to form, I messed up two tea-time races which put a significant dent in what had been a very good afternoon.

Whilst this is a common occurrence for me, as far as today is concerned, these races where indicative of the sloppy trading I was performing as the afternoon wore on. Typically though, that sloppiness was manifesting itself as greed where I was throwing away good, profitable positions for small, mediocre ones.

After having a dinner break, I quickly recouped the loses from those two tea-time races in the 6:45 at Bangor. Such a shame I chucked it away two races later.

Given the way that carelessness was creeping into my trading, I thought it wise to quit while I still had a reasonable profit on the table. More importantly, it means that I've recouped my big losses that I had last week. Indeed, I've moved past them. I just need to try and eradicate the almost carefree trading that I sometimes fall into.

Note to self: Concentrate at all times Ali!

Changing the topic ever so slightly, regular readers will be aware that I've little or no knowledge of horse racing. One can argue that one doesn't need it when trading the pre-race markets. However, I'd also like to develop in-running trading skills and for this I think it is very important to gain skills in identifying horses that will run well - or badly.

I'm an avid reader of The Experiment, and having read Graeme's tips and with a bit of encouragement from the man himself, I've started to look at the mystical world of form study.

I haven't had the chance to devote much time to it this week due to other commitments, but I did managed to grab 15 mins before the 1:15 at Sandown. You're not going to believe this, but I picked out Commander Cave, the winner at an SP of 17/2 (no idea what it was on Betfair). I can safely say, that is the first time I have ever picked the winner of a horse race.

I didn't have any money on it of course, but that's not the point. It showed me that even a luddite like me can pick winners. All I've got to do know is repeat it and show it wasn't a flash in the pan.


leonthefixer said...

Well done on recouping your losses from the other week mate - you went about it sensibly and you seem to have the mindset to make this work!

Hope you have a good weekend!

Alistair said...

Cheers Leon,

It's slowly coming together though there's still a long way to go.