My Comfort Blanket

After giving myself a fright yesterday afternoon trying the win markets, my already fragile confidence took a bit of a hammering. As a result, today I thought it prudent to reach for my comfort blanket in the shape of the place markets.

I did have a couple of trips to the win markets, but only for pennies and both were effectively scratched.

In all I traded 36 markets today, scratching 11 and losing on 5 at a cost of £19.31. I managed a profit of £35.87 today, which came as a welcome relief after the poor showings I've had since passing the £1000 mark last Saturday.

Of those 5 losses, four of them were really annoying. The biggest, at £8 was lack of discipline on my part. I was trading 'Bauhaus' in the 2:30 and quickly found myself in the red by a couple of quid. I just misread the market on that one. It happens - no big deal. My mistake though was to repeatedly go back in to retrieve the situation as if I was suddenly able to read that market perfectly. As so often is the case, it just made matters worse.

I was fine for the rest of the afternoon until the last two races before dinner time. I lost nearly a fiver in those, but one in particular was really stupid.

I'm still using BinarySoft and it allows you to center the ladder around the last traded price by right-clicking anywhere on the ladder. I inadvertently left-clicked and as the mouse pointer was sitting over the bet placement column of the ladder - in went my bet. As is the way when the gambling gods are having a laugh, it was on the wrong side for the trend that was happening at the time. Ooops! I managed to get out for a loss of £2.94.

That momentary lapse of concentration, coupled with a twitchy index finger was one of these things. But I went and did exactly the same thing in the 8:30 for a loss of another £3 or so. Now the first time was silly, but to do it again was just plain carelessness.

The final annoying loss of the day came in the 6:30 when I had backed 'Bond Becks' for £118 @ 3.05. No sooner had I placed my bet when BinarySoft lost it's connection. Mad panic ensued while I checked my Internet connection. I couldn't access the Betfair site, yet other websites were OK. To cut a long story short, I got BDI reconnected 5 minutes later where I managed to trade out @ 3.15 and a loss of nearly £4. Not the most comfortable 5 minutes I've ever spent.

These little wobbles aside, I was very pleased the way I traded today. I didn't have any spectacular trades but kept it nice and steady throughout. Neither did I suffer any of the doubts I'd been having since the weekend so long may it continue.


Pete Thunder said...

Just one idea i think you already know, but that i will bring forward anyway. 50% of the races of horses valued under 2.0 odds ends with that horse winning the race. What are the odds of the same horse, if not winning, at least taking a place? Perhaps leaving a free bet there would have odd of making more money?

Alistair said...

Hi Pete,

The odds for such runners in the place market are ridiculously short. So short that I'd not bother taking them. In fact, there's an argument for laying them.

Just quickly glancing through my notes, there's been a handful of short priced favourites in the place market in the past week or so that have failed to place. When I say short priced, I mean odds of less than 1.20 and often nearer 1.10.

I'm starting to think I should, as a matter of course, place a free lay on these runners with much of the profit I make in pre-race trading being put on as my liability.

It's been sod's law this week, that where there has been such a horse, I haven't earned any money pre-race in order to lay them off. Typical!