A Very Sloppy Profit

Today's Results:
Horse Racing... 2.8% profit. New bank... £367.11

One of the most disappointing trading days I've had since I started this lark back in February. Yet it all began so promisingly.

I didn't see much opportunity in the first race of the day so I gave it a miss. The second race was a different story as I came away with a double figure profit from that one and one of my best ever trades. All the more so when you consider that I'd already lost £1.60 on another runner in that race before 'Full Marks' drifted nicely.

This great start continued with solid trades in the next two races before I went on a 5 race run where I couldn't judge anything right. By 4:30, I'd undone much of my earlier good work and was left with a £1 profit to show for my troubles. What a waste of an afternoon that was.

I took an early dinner and spent some time with my daughter before carrying on some two hours later.

The evening session was a bid better, but I was still making far too many mistakes. Whenever I threatened to build up a head of steam it seemed I would throw it away in the next race. In the end, and after another bad loss in the last, I came away after a full day's trading with only £10 profit. That's just not good enough.

I found many of the markets really difficult today. I was continually missing the big moves because I'd be looking at a different horse at the time. Where there was opportunities for some dramatic spikes I'd place my bet and wait, but nothing would happen. As a result, I'd cancel and move on to another runner only to return shortly after and see that a spike had shot up to where I'd been waiting and fell back again by 10-15 ticks. Very frustrating.

I traded 25 races today, scratching 4 and losing on 8 (costing me £22.49). Far too many losing trades in that lot. But the real problem today was not being able to identify the moves when they happened because my eyes were invariably elsewhere.

Hoping for a bit more consistency tomorrow.

No comments: