What A Shame

Today's Results:
Horse Racing... 2.9% profit. New bank... £674.34

Just a quick update on this afternoon's trading as I'm going to miss the evening racing and spend some time with my daughter.

I traded pretty consistently today, bui it was a slow start. It wasn't until mid afternoon when I lost a fiver that I eventually pulled myself together and started putting in some decent trades.

Going into the 5:35 at Ascot, I was £32 up and feeling pretty pleased with myself having lost in only two races.

I was looking forward to the 5:35 race as I had heard from a reliable source that there was a strong possibility of a move on 'Bulwark'. When I checked the place market graph 5 mins before the off, it had shown some movement, coming in from over 4.00 to 3.00 and looking to continue. This was confirmed when I looked at the market. There was a large amount of cash sitting at 3.20 on the back side and when another batch came in 2 ticks above, I jumped on thinking the move had started.

Unfortunately it hadn't. The market turned against me and I panicked trying to close out the trade rather than hanging on as I felt it was still going to come in. I got out for an £8 loss and tried to jump on the drift only for that to reverse on me. I eventually got out for a £11.57 loss. I didn't want to risk losing more, so I left it alone and watched as the odds continued to shorten way past my opening position - eventually reaching around 2.70. How many times has that happened to me?

So a very disappointing end to what had been a good day - all because of my panic and my inability to hold on to the courage of my convictions. 'Bulwark' traded as low as 1.66 in-running as well.

I traded 21 races today, scratching two and losing on only 3 - so that was good - but that obviously included that big loss at the end. 3.1% profit keeps the graph going in the right direction, but what a shame it wasn't more.

Evening Update...

My daughter decided she'd rather watch 'Hollyoaks' and 'Come Dine With Me' than spend quality time with her father. I know when I'm not wanted! LOL!

Anyway, I spent the time trading the last 5 races and proceeded to lose another £1 or so. I've updated the headline figures - not that they changed much!

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