A Good Start To The Weekend

Today's Results:
Horse Racing... 12.6% profit. New bank... £433.76

As regular readers will know, I've been very critical of myself of late, despite an ever increasing horse trading bank. I've primarily been annoyed with some of the down right bad calls I've made - especially when the little voice in my head is warning me against them. As a result, I have thrown away a significant proportion of the profit I've achieved in my good trades.

Today, I was determined to stay focussed and listen to those inner voices - 'if in doubt stay out' to paraphrase a common football coaching term. As a result, it took me a little time to get going. Indeed, I opened my account this afternoon with a small loss.

Come the 2:45 it all started to click. Although I had another small loss in the next race, that was my last loss of the afternoon. That in itself was perhaps the most satisfying aspect - only 2 losses all afternoon costing a grand total of £2.76. What a difference from the rest of the week.

Apart from a couple of scratched trades, all the remaining races I entered returned good profits and by the time the afternoon session was over I was more than £40 up. More significantly, I had successfully managed to avoid the temptation to get involved in every race - something which I am sure has led to at least some of the bad trades I've been doing recently. Out of all the afternoon races I only got involved in 14 of them.

After a prolonged break, I rejoined the fray with the 6:55 and everything started from where I'd left off. Unfortunately, my discipline slipped somewhat in the evening session. Don't get me wrong; I had some excellent trades, but I found myself entering markets that I shouldn't have. The inner voices where screaming at me at times.

I lost 4 trades in the evening, two of them being quite big. These where definitely a case of ignoring the warnings signs and forcing the issue in an attempt to make today's result a bumper one. Consequently, the evening session saw me waste nearly £20 and it only produced a £6 profit. This was really disappointing as I felt I'd traded particularly well in most of the races I entered.

Still, a profit of £48.63 beats the previous daily record and takes the horse racing bank comfortably through the £400 mark. In addition, it means that I am managing to get through the £100 per week target. Whilst that might not seem a huge amount to many traders, it will make a difference to me.


Graeme Dand said...

Well done mate.

£100 a week is not to be scoffed at and it bodes well for your future trading.

When things go right on Betfair, this game really does seem so easy at times!

Keep up the good work.


Alistair said...

Thanks for popping by Graeme.

I am very pleased the way things are coming together, though I have to say I admire your style of trading more. Strong race analysis combined with sensible money management but still being able to satisfy the gambling 'fix'.

Each to their own though, and certainly the scalping of the pre-race place markets is the thing that's working for me at the moment.