Edging Closer To Four Figures

Today's Results:
Horse Racing... 3.1% profit. New bank... £933.09

I had a mixed day today. I was only able to trade up to and including the 4:05 as I had another engagement afterwards. But I have to say, the twelve races that I got involved in went very well, for the most part.

I had a rather shaky start though as the profit I made in the first race was lost over the following two races. After that I started to string a number of solid trades together and by the time I was finished for the afternoon I was £32 up.

Obviously pleased with this result and happy with the way I'd been trading I was in two minds about this evening's session.

One of my regular readers, Anthony, made a comment yesterday and suggested that I try the win markets in the evening as I might find these markets a bit easier than their afternoon counterparts. When I was thinking about this during dinner, I decided to give it a try in the hope that it might provide a stepping stone from the low liquidity place markets to the mainstream win markets.

I was happy to give this a go tonight having had a good session earlier in the day. So I went into the evening trading with the attitude that losing some of my earlier £32 profit would be OK as long as any loses weren't heavy and I was able to gain even a little experience of these markets that I've had such difficulty with in the past.

Things looked very promising right from the off as I quickly chalked up nearly £5 in the first race. I had decided beforehand that once I closed a trade in these markets, I wouldn't go back in again - even if I had lost. ESPECIALLY if I'd lost. So when I lost £8.50 in the next race, I took it on the chin and moved on.

What I did do throughout the evening was trade the win markets for 5 mins or so before switching to the place markets for the last 5 mins before the off. This worked well and over the next few races, I recovered to get myself back to where I had started in the evening, plus a little extra.

I felt reasonably comfortable in the win markets in that I wasn't put off by all the noise. I was happy taking a longer term view when I opened my position. However, after reducing my profit by a third during the 7:50 and 8:10 I decided to leave the win markets for tonight. I felt that I didn't want to risk anymore of my gains. Instead, I set about recovering my position by returning to my favoured place markets.

I managed to retrieve nearly £6 to finish the day with £28.33 and another 3.1% profit. The £1000 target is now edging ever closer. At the risk of putting myself under way too much pressure, I'm hopeful that I'll be celebrating by the end of the week.

I traded 25 markets today, scratching 6 and losing 5 at a cost of £25.33 (£20.09 of which was in the win markets). Although it's always disappointing to lose money, in this case, it was something I'd prepared myself for when I ventured into the win markets. Despite this, I'm satisfied that my trading appears to be back on track after the slowdown of last week. I'm certainly happier now that I'm back to posting sensible returns for my efforts.

Long may it continue.

1 comment:

Anthony said...

Obviously I didn't intend for you to lose any of your hard earned profits but you did quite nicely trying something new and still posting quite a good percentage for the day. You'll know a little more of what to expect next time you drop into the evening win markets. There's loads of liquidity to support your stakes, which is something you've suffered from recently, as far as I can tell.
You're back on track and your discipline, despite your clear disappointment, has kept your bank at the same level as before you had your "barren run" from Friday 27th June when your bank was £821. It's now £945. An increase of £124 while you felt you were going backwards is no bad thing.