End On A High Note

Today's Results:
Horse Racing... 7.9% profit. New bank... £130.37

In general, I still seem to be suffering from early afternoon jitters. This time it was the second race that I messed up with a substantial loss (for me anyway). It's most unsettling. This time however, I was able to get it back the very next race.

The first half of the afternoon once again saw me struggling to make any trades. Indeed, I was having difficulty spotting any movement at all. I almost always found myself looking at the wrong horse. By the time I noticed movement elsewhere, I was too late to get on it.

This is a weakness in the excellent BinarySoft BDI trading software. Whilst I think having a single ladder is a strength of the software as one doesn't become distracted, it can make spotting moves on other runners difficult. This, I am pleased to say, will be corrected in future releases of the software (or so I believe). As I understand it, the intention is to have the ability to display streaming graphs for a number of runners thereby making it easier to spot steamers and drifters elsewhere in the market.

So, although I had made a small profit after the first four races, I wound up scratching the next four. 'A scratched trade is a good trade' as the say, but it can also lead to a frustrating afternoon.

Things didn't pick up until 3:30 when I started to make small but consistent profits. I stopped after the 4:50 as I received a call from a client. So, heading for dinner, I was some 5.0% up for the afternoon, with just the one stupid trade to spoil things.

The evening racing didn't get off to a good start with 2 losses to kick off my session. One of which was because I ventured into the win market of the 6:40 at Fontwell. Will I ever get used to those markets? After that things picked up after going back to the place markets and that proved to be my last loss of the day.

I did try something slightly different an hour later at Fontwell. I had traded 'Mystical Star' and was all green with a £2.68 profit so I decided to take £2 of that into the race. I backed it at 2.16 and, once the race was underway, placed a lay bet at 1.20. Unfortunately, although it's odds shortened a fair bit, it didn't reach my lay and the £2 was lost. I could've traded out in running, but I decided to let it run.

In retrospect, I was foolish to place a bet on this horse because I hadn't checked the race card via the Racing Post site, so in effect, I was betting blind. The only thing I had based my decision on was the pre-race market. Still, it's something I will try again in the future - take some of my pre-race trading profit into the race - with a view to boosting the return. I just need to remember to check the form book beforehand.

So, in summary, I traded 23 races with 3 losers and 5 scratched giving me another 7.9% to add to the bank. I'm happy with that.

Changing the subject, I've finished my fence. Well, not quite, as I've got to build a gate for it now but that will get done tomorrow. I'd like to thank my neighbours who brought me cups of tea and cake while I was out slogging away in all weathers. It's good to know that there are sociable people still around in these unsociable times.

Back tomorrow, probably...

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