What A Relief

Today's Results:
Horse Racing... 5.0% profit. New bank... £54.40
Tennis... 24.0% loss. New bank... £14.62

I'm pleased to report that a managed I profit on the horses today. Only £2.61 which equates to a pleasant 5.0%. That doesn't seem a lot but I'd be more than happy to increase my bank by that amount every day.

Actually, the size of the figure is irrelevant. The important thing today was to minimise the number of losing trades I've been having this week. In all, I got involved in 13 races today with 10 of those being winners, 1 was scratched and the other 2 losers. I'm satisfied with that. Most of this week the ratio has been something like 50:50.

I did two things today. The first was a drop in stake size, as detailed in a previous post, which helped to lift some of the pressure I may have been feeling earlier in the week when things started to go wrong.

The other thing I did was pay much more attention to the streaming graphs available in BinarySoft BDI. The time frame that these graphs display can be adjusted. By default it is set to 1 min. I increased that to 3 mins which gave me a much better idea what the price trend had been and a good idea what it was likely to do. This helped enormously.

So, hopefully I've turned things around but only time will tell.

Now, on to the tennis...

My delight in my horse trading result is somewhat tempered today as I hit my first loss in the tennis. It was a very frustrating loss as well as it was so close to succeeding.

I'd identified a number of matches that I wanted to get involved in prior to the start of the racing. The intention was to do my normal 20% lay hedge of the favourite but it never panned out that way.

In two of those, I made the mistake of placing my opening bet way too early in the day. The odds went the opposite way and I baled out before the start of the match. If, I'd left them alone, my hedge would've been successful midway through the first set in both cases - which is what normally happens with this bet.

This was indeed how my foray into the Zakopalova v Knapp match panned out.

The match that caused the 24% loss was Almagro v Monaco. Having looked at the stats for both players, I was happy to lay Almagro @ 1.61. Unfortunately, he shot into the lead and was 4-0 up in the first set within 40 mins or so. This was the one that I found frustrating. In every one of those first four games, Monaco had a game or break point to take the game. Yet he just couldn't kill any off them off. Almargo won the first set and Monaco never really got into the game.

Despite the loss, I've learned a number of things with my excursions into the tennis world today:

1. When hedging, wait until just before the match starts before placing the opening bet.
2. If I'm using the hedging strategy, treat it for what it is - a bet. Don't sit and watch the odds jump up and down as this only serves to sow doubt in my mind.
3. Other than todays failure, all the matches I've got involved in, either on paper or for real, has successfully closed the hedge in the first set. Therefore, I think that a stop loss after the first set may be in order, particularly in best of 3 sets matches.

So, there you have it. A bit of a mixed bag today, but the important thing is that I'm a hell of a lot happier about the geegees than I was most of this week. Here's hoping it will continue.


knocker said...

Alistair - quick caveat - it's Friday evening and I've been drinking. Anyway, I came to see the blog tonight expecting some saturnine post but you seem quite upbeat. Cool. I cannot agree with your more about the charting in BDI. I've fiddled around with the settings and to be honest I really like the way I have it set up and it gives me lots of confidence about timing my entry strategy into a market. Kudos to BinarySoft.

Anyway, I'm sort of shifting my personal approach at the moment partially due to Graeme at The Experiment and I think I'm morphing into a gambling trader. I'm more optimistic now than I've been for months. It's cool. I think. lol!

Alistair said...

Cheers Knocker.

Yes, I'm a lot happier than I was. Here's hoping it will continue.

Today saw a bit of a revelation in the way I was using BinarySoft BDI. Before, most of my concentration was on the ladder with only cursory glance at the graph. Today it was the opposite.

I agree with you regarding form study. I wish I knew what the hell I was looking at when I peruse a race card. It's something I need to learn as I'd like to get into in-play trading and that sort of information would be invaluable.


Loocie said...

Hi Alistair,

I also selected the match Almagro vs Monaco. It was unbelievable! The result does not represents the match. You descriped the situation exactly in your post. Monaco did not take his chances, so I lost too. Losses are unevitable, but there would be other great matches today.
I have an eye on these matches:
Zakopalova - Kirilenko (broadcasted by Betfair live video)
Zvonareva - Dementieva
Serra - Davydenko

All the best with trading!