Charlie Crab Saves The Day

Today's Results:
Horse Racing... 4.6% profit. New bank... £562.25

Quite frankly, much of my trading today was absolute crap, yet I still managed to post a 4.6% profit, thanks to a certain horse called 'Charlie Crab'

The day started off very poorly in the 2:00 when I felt that 'Flying Spirit' would drift. As so often happens, the market disagreed and when all the money on the lay side disappeared after my bet was matched I suddenly found myself with a deficit of nearly £11. Annoyingly, and true to form, as I have documented numerous time in this blog, the market came back, went through my original position and kept on going. That -£11 could easily have been +£11 if I'd held out for longer.

Of course, I could've jumped on the drift as it happened, in order to reduce my losses but I'm often reluctant to get back on a horse when it as already thrown me for fear of making the situation worse. That is just an experience thing that I hope to master eventually.

So, I took the hit and looked to get it back in the coming races. Unfortunately, before the second race I got a call from a client who's computer network had gone down. I spent 30 mins or so trying to guide an unqualified person through some of the troubleshooting tests. This, combined with the initial loss completely screwed my concentration. I then spent the next hour or so trading for pennies or scratching races.

It wasn't until 4:00 when I started to string a few decent trades together to get me back in the game. No sooner was I starting to build some profit, and I had another big loss - nearly £10 this time. I was especially angry with myself with this one as I had had 2-3 opportunities to trade out for a small profit, but I didn't take them. I finally finished the afternoon some £4 down and was generally hacked off having blown roughly £22 in three losing races.

The evening session saw me carry on in much the same vain. I'd edge ahead, but would lose it as soon as I had it. Then came the 7:00 and the best trade I have ever done.

'Charlie Crab' was trading at just under 3.00 and was starting to come in. I managed to get matched at 2.5 expecting it to go to around 2.25. It just kept on going. I traded out at 2.00 for nearly a £20 profit. It still looked like it was going to continue to steam, so I jumped on for another fiver. A profit of £23.72 after commission! Not bad for a £115 stake.

Despite this major coup, my general trading was still very poor and I threw away another £12 or so in the next 7 races I entered.

All in all, I traded 29 races today, scratching 7 and losing on 8 at a cost of £38.87! This means I had over £60 worth of profitable trades today, but I end up with less than half of that. I'm really pissed by that. Thank goodness I spotted 'Charlie' just at the right moment.

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