Can I Play With Madness?

Today's Results:
Horse Racing... 3.3% loss. New bank... £126.05

Having just performed one of my worst ever trades I have to report my first fall in my bank for some time. So much for the title of my last posting - 'End On A High Note'.

Everything had been going so well today. This afternoon's trading was slow and steady. Nothing particularly spectacular to report. Only two small losses among the eleven winners. Come 5pm I was 5.4% up and quite happy with today's performance.

I then had to take a break, fetch my daughter from a friend's and visit B&Q. It was 7pm before I returned.

Rather than sit with my daughter to watch 'Britain's Got Talent' or some such rubbish, I persuaded her to let me go and trade for the last hour or so. I wish I hadn't, though it didn't start out that way.

In the 7:20 at Doncaster I traded 'Swinbrook' very well to give me my best win of the day. Bolstered by this, I immediately switched to the next race, only to throw much of it away. How often does that happen?

Much worse was yet to come.

In the Hexham 8:00 place market, I laid 'Innominate' @ 1.16 looking for a tick. I was convinced it was going to drift, but, as soon as I placed my bet, it jumped 5 ticks in the opposite direction. It came back a bit and I finally managed to get out at 1.13 for a loss of £12. Bollocks!

On reflection, I entered that market far too early. There was 6 mins to go when I first opened my position. I've noticed that horses in the place market that are trading as short as this almost inevitably drift 2-3 ticks in the last minute.

So, here I sit typing this while being philosophical about a moment of madness that has seen a reasonable profit turn into a loss. My first losing day since 17th April - 15 trading days.

I hate ending the day with such a bad trade. Only time will tell if it's a one-off.

I may not be able to trade tomorrow as it's a Sunday and, weather permitting, I'll be watching my son play footy. If I manage, I'll obviously post the results here as normal.

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