Oh That Was So Damn Close!

Today's Results:
Horse Racing... 5.5% profit. New bank... £997.34

5 pence short of equaling my daily record and £2.66 short of that magic 4 figure number. My Betfair account is actually just into 4 figures as I have some left over from my tennis trading bank, which hasn't been used for quite a few weeks as I concentrated on the horses.

I had a very good afternoon session, with only two losses totaling £6. The worst of those was in the third race of the day where I felt 'Yorgunnabelucky' was going to drift from the 1.19 it was trading at. Unfortunately for me, after placing my opening lay, it refused to move so I lost my bottle and took the £4.50 hit. As so often is the case, if I had had the courage of my convictions I would've been OK. It failed to place in the race either so that would've been a jolly nice lay - something I'll discuss another day.

The rest of the afternoon was fine. I was more than happy with my trading and finished for dinner some £27 up.

The evening session was altogether different in that, once again, I took the decision to venture into the win markets looking for a tick then switch to the place markets for that race. As per the last time I entered the win markets, I was losing twice as much as I was winning. The biggest of these came in the 7:55 at which point I decided to concentrate on the place markets. I had more or less kept myself all square up to that point thanks to the place markets.

I did however, change tact in the remaining place markets. In essence, I became much more aggressive; going for those runners that I felt were about to move and holding my position - even though the market initially resisted or turned against me. This paid dividends as I racked up some excellent trades in the last 90 mins making virtually all of my evening profit in this period.

All in all, I traded 42 markets (I still cannot believe that), scratching 14 for +/- £1 or less and losing only 6 at a cost of £18.73. A total of £52.50 for todays efforts equates to a 5.5% increase in the bank. It would've nice to get that little extra to take me through the £1000 mark, but there's plenty of races tomorrow.

My daughter will be please when I hit that landmark. I've agreed with her that once my bank is into 4 figures my trading will fund her pocket money. She's to get 5% of my weekly profit. I reckon she's going to be a future Chancellor.

So, a very good day trading wise, tempered by the news that BinarySoft are no longer developing the software, as I reported earlier. It seems that not only will I have to think about how I shall progress my trading and where I take this blog but more fundamentally, how I am going to go about trading in the first place.

3 comments:

Drifter said...

Well Done Alistair

Don't get too hung up on the £1000 figure continue as you are and it will just come. Glad to see you are venturing into the win markets.

It is interesting to see you held your position for longer in some markets and found that to be profitable. I would say from experince just make sure you have a exit point clear in your head, so that you exit if the price goes too far against you. You probably would do that but I know that I really struggled when what I thought would happen didn't. This is probably one of the reasons I am not trading at the moment! Anytime I got it wrong I took it as some sort of personal attack.

Anyway enough about me keep up the good work and it looks like you might have to bite the microsoft bullet. It is a shame Binarysoft will cease developing their product, when I used it I found it refreshing and very effective. not quite as good as Bet Angel but any competition has to be good for the market.

Drifter

Iranian Giraffe said...

nicely done mate,

good to see you back and trading well, obviously I have no idea if you do anything else when you are trading the markets but 1 of my friends trades with BetAngel and hates M$ so he has a dual boot system so when he is doing his work etc he boots up Linux and when he is trading he boots up windows and uses BetAngel, as far as I know he basically just has .net framework and the relevant drivers installed along with Antivirus and Firewall and then obviously BetAngel for his trading nothing else, obviously if you do some work or something on linux while you are trading it's not really an option for you but if you don't then it's probably the easiest way (obviously dropping Linux completly is an option but by the sounds of it one which you really don't want to do).
good luck whatever you decide anyway and hope to see the 4 figure total tomorrow.

Cheers
Mike

Alistair said...

Hi guys and many thanks for the comments.

Drifter: The one thing I've noticed over the weeks is, if I do not have the courage of my convictions, my results suffer. Yesterday was such a contrast to the previous week. I was totally relaxed and happy with my trading. There was no sign of hesitation and I was happy to take that addition risk and wait for the market to return. You're right though in that having an exit point is essential, which I do - though it varies on each trade.

As I am able to carry on using BDI, at least until any Betfair API changes cause it to stop working, that's what I'll do in the short term. This will give me an opportunity to investigate the various options: dual boot, run Windows in a virtual box or move back to Windows completely. Once I've established all my options, I'll have a better idea where I need to go.

Thanks again lads.

Ali