Fish Out Of Water

Today's Results:
Horse Racing... 1.3% profit. New bank... £177.13

I'll keep this post short as I am mentally exhausted after today's efforts...

A fish out of water is how I felt today as I floundered my way through one bad trade after another.

It all started badly when I made the stupid decision to try the win market in the first race of the day. There had been so many withdrawals from the race there were only 4 runners left, so I didn't fancy the place market. So, off I went and promptly lost £4.26, which put me in the wrong frame of mind completely.

I scratched the next race, but lost another £3.77 in the 2:20. In the first 10 races I entered, I lost 6 of them and was nearly £10 down. I spent the rest of the day trying to recover it which took me until the 8:40 where I found myself 36 pence up on the day.

The profit you see in the headline is made up from the £1 profit from Friday evening that I didn't include last time as detailed in my previous post along with a small profit from the only race I managed to trade over the weekend while I was busy decorating.

After Friday's losses I was hoping a weekend off would do me good. If that's doing me good, I'd hate to see it doing me harm.

Hoping for better things tomorrow...


Drifter said...

Don't worry Alistair look on today as a day spent learning a bit more about the markets and it only cost you a few quid. The important thing is that your bank is growing steadily. It must have grown by about 1700% since you started, not a bad return!

Iranian Giraffe said...

unlucky mate, the way I look at it is overall your reading the markets correctly as your money has been on the up since the start so your get it back overall. the main reason I don't like the place market is that due to less money in the markets the prices can jump around quite a bit and you can sometimes come unstuck if someone puts a big fake/ghost money into the market against you and then people start panicking and taking the price currently on offer and so driving the price in the wrong direction/against you, obviously this can benefit you as well and of course this happens in the win market as well but takes quite a bit of money and goes not push the price up/down so many ticks.
anyway best of luck tomorrow I'm half way to paying for my BetAngel subscription for the month after 5 days so like I've said before as long as I do that I'll be happy


Alistair said...

Thanks for your comments chaps. I'm sure it was a small blip. There was no loss yesterday, so no harm done.

You're right Drifter, an increase of over 1700% since I started late February.

Mike, your post describes exactly why I like the place markets. I look forward to those big sums coming in so that I can pounce on them, not follow them. I'm happy to take their money :-)