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...

3 comments:

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

cheers
Mike

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 :-)

Alistair