Summary Of A Poor Month

First off, a quick note about yesterday as I was too tired to post up a blog entry...

I mentioned on Friday, that Saturdays tend to be difficult days for me on the horses. I should've kept my mouth shut as I found myself behind after the first couple of races and spent the rest of the day trying to play catch up.

Suffice to say, I was still behind come the last and when I found myself in a losing position in that one, I lost my discipline and out of frustration decided to have a £5 punt on one of the runners.

I went for 'Sotik Star' for no other reason than it had remained pretty steady at 3.50 ish while the rest of the runners had drifted as the scheduled off drew nearer. I backed at 3.50 with my fiver and placed a 'keep' bet at 1.70 which would put me marginally in profit for the day if it was matched.

As you no doubt know, 'Sotik' went on to win the race at an SP of 17/2. That's beside the point. I managed to contrive a free get out of jail card and post a profit for the 29th day running. What a jammy git!

Now, onto today's results...

I had intended to not only trade the horses today, but have a dabble in some of the football matches. Unfortunately, that never materialised as I spent late morning, early afternoon touring the electrical stores trying to find a Wii Fit for my daughter's birthday a fortnight on Wednesday. Cannot track one down for love nor money.

Although I missed the start of the Celtic and Chelsea matches, I managed to get back in time for the racing. And as I write this, Real Madrid have just equalised against Deportivo La Caruna (great name for a football team - up there with Borussia Monchengladbach) meaning my free bet I had on the over 1.5 goals market has come in. Unfortunately only £5 of my stake was taken before the first goal so just £2 profit to add to the coffers.

But I digress, so back to the racing...

What a contrast to yesterday. I only had one losing trade today out of 19 and finally managed to catch a few good moves, the best of which was 'Mr Wiseman' in the 4:30 at Newton Abbot. I managed to get on him at 2.08 and finished laying him off at 1.59 with a few small lays in between. That one trade made up for just over a third of my winnings today.

So just over £30 added to the pot to round off what has been a very difficult month for me.

Indeed, it's been a very difficult two months where I've only made £319 since passing the £1K mark. The thing that has frustrated me most is, I don't know why. There's no doubt though that as my returns have fallen away from what I was making in June, my confidence has been effected and I've had an on-going battle with the emotional side of things.

I had hoped that the break I had mid-August would give me the opportunity to get back on track, but it was not to be.

One small consolation of course is the fact that I have now gone 30 trading days without a loss. Unfortunately, many of those days saw me scrape into profit by only a few pounds. Still, it is something of a landmark and gives a foundation to build on.

Throughout this month, there have been glimmers of what I was achieving on a regular basis back in June but they have been few and far between being interspersed with far too many single figure profits. That's what has nailed me this month - an average daily profit of less than £10. Just not good enough.

Another area that has been disappointing as a direct result of my performance over the past month or two has been my inability to get into hedging in-play. As I've mentioned before, I've wanted to use the profits pre-race to generate further profits in-play. This simply hasn't been possible when I've not been producing the pre-race profits. As a result, I've missed many opportunities.

There's also been changes to the blog with the introduction of a chat room which is proving reasonably popular and useful. Everyone is free to join in at any time by the way. With this introduction has come a slight design change to the blog and a new website in the pipeline at www.bet-your-life.co.uk where the chat room is hosted. Changes to that will be on-going as I detailed in an earlier post.

It's now been 6 months since I started this malarky with £10. I've since turned that into £1358 by trading the pre-race place markets with a little bit of soccer and tennis thrown in. If I can make the same again in the next 6 months then I'll be happy. However, the aim has got to be to improve upon that significantly. How that will pan out with no evening racing remains to be seen.

Finally, and on a more serious note, the month almost ended in tragedy with my son being involved in a car crash. Thankfully, he and his mate got away with a few bruises when it could've, indeed should've, been so much worse. With them managing to dodge that particular bullet, the importance of all that I've written about before is firmly put in its place.

At Last!

I do not know why, but today was a much better day than any I've had for what seems an absolute age. I was focussed, in the mood and determined. This was all the more incredible as I had numerous interruptions in the afternoon. Fortunately my concentration was not ruined, though I did have three poor trades, one of which was a complete mess.

I was trading 'Edas' in the 5:20 at Hamilton and I made a total pigs ear of it. My initial trade saw me lose over £2 as my opening lay bet was taken and the odds immediately reversed. I quickly closed out, and jumped on the new direction only for it to quickly reverse again. Another quick close out and jump on the original direction. Low and behold, another reverse.

I did this repeatedly until I finally slapped myself on the face and came away with a loss of £11.70! To rub slat into the wounds, the odds were now higher than they were for my original opening lay. Very annoying, but I didn't let it phase me which is pleasing in itself.

I traded 27 races today, scratching 10 and losing 3 at a cost of £19.02. so you can see that that Hamilton race was particularly expensive as far as my total amount for the day was concerned. Still, a profit of £28.66 for the day makes an extremely welcome change from some of the dross I've served up in recent times. Today at least, I do not feel embarrassed incrementing my winning sequence by 1.

Looking back over my records, Fridays seem to be my best days by far. I do not know why that is. Perhaps I'm just de-mob happy at the thought of the weekend coming along. Unfortunately, Saturdays are frequently poor, so a bit of care required for tomorrow.

Trading Is So Unimportant

There's much more important things in life than this trading nonsense. That was illustrated perfectly well late this evening.

I was just getting organised to sit down and write about yet another pathetic day at the office, spending hours to make pennies, when I received a phone call from my son. He was in tears, having just been in a car accident. So my daughter and I had to dash off to see him.

The way he had been talking, I got the impression that he'd smashed HIS car. Transpired it was his mate's car that crashed - straight into large gates at the entrance to a factory. Without going into details, there appears to have been a problem with the brakes. Unfortunately for my son, there was no passenger airbag so he came off worse. Nothing serious - bruising due to his seat belt, a touch of whiplash and a strained wrist - but we called an ambulance to be safe.

The car is a write off, but the important thing is that they are both OK.

In a strange perverse way, this may be a good thing. Both of them have only been driving for a few months. This might give them a better appreciation of just how dangerous an activity driving is. An appreciation that is sadly often missed by young drivers until it is too late. With any luck, and a bit of time to reflect, hopefully this experience will make them both better drivers.

Anyway, no point in going into today's trading after this evening's events. Suffice to say, I struggled and came away with the staggering profit of 59 pence!


A pretty insignificant result - in more ways than one.

The Times They Are A-Changin'

Well, the Bet Your Life Sports Trading website is anyway.

The recently introduced chat room is hosted on a domain that I have had for some time. The website at www.bet-your-life.co.uk has been sitting dormant for a while and since the inception of this blog has automatically forwarded visitors on to these pages here.

With the introduction of the chat room, I felt it was time to resurrect the Bet Your Life website proper. There, you will ultimately be able to find details of trading strategies that I've/will come across as well as other articles yet to be decided.

This blog will, for the foreseeable future, remain hosted on Blogger but the two will be redesigned so as to appear as one. You'll still be able to reach the blog by going to betyourlife.blogspot.com where you'll find a link to www.bet-your-life.co.uk and vice versa.

The changes will be a relatively slow process as I'll be doing it as and when I can fit it in, but the main thing you will notice is an ever expanding menu just under the header at the top of the page. Just be on the lookout for a new menu item and you'll know the times, they have a-changed.

Bad Habits Are Forming

Another day of dross! I seem to be developing the bad habit of spending the first 60-90 mins throwing money away with the rest of the afternoon spent getting it back.

I do not seem to pick up any momentum at all these days which makes my ever increasing winning streak appear very misleading. Still, in these times of drought I've got to take solace in the fact that I'm not losing money. It just means I won't be able to buy myself an Aston Martin anytime soon.

It doesn't help of course that there's no evening racing - mind you, the way I'm going, that is perhaps a good thing.

Today's poor performance was such that I was put off getting involved in any of the Champions League matches today - not that I need much persuading on that score. I'm always very wary of cup matches, particularly in the early part of the season. So I'm spending the time as I type this just monitoring the markets.

The other other thing of note today was a small win in the Sri Lanka v India ODI cricket match. My first ever foray into cricket.

So an end to another poor day. At the moment I can see no light at the end of the tunnel and this past 1-2 months has seen me essentially tread water.

Still, tomorrow's another day.

You Win Some, You Lose Some

A somewhat mixed day that started off badly, got better, then ended with a loss on the football which nearly wiped what gains I'd made.

The racing got off to a shocking start with me losing 4 of the first 6 races and scratching 2 of them for minor losses! I just couldn't read the markets at all. I got very close to calling it a day, but I hate ending on a loss. I decided to stick with it, but, for the first time, record what I was doing to see if I was missing something during the event. Would you believe it? As soon as I started recording races, I started winning!

One thing I did notice though, that I hadn't when trading, was the liquidity in the market. There was a lot of money around in the place markets this afternoon, particularly in the early races. Perhaps that had had an effect on the way I was trading, or not, as the case may be.

I traded 27 races today, scratching 12 and losing 5 at a cost of £9.54. I recovered that to win £11.79 on the horses. Just as well, as I lost £10.13 in the Cambridge v Kettering match late afternoon.

Given the relative positions of the teams and the goals already scored, I felt that trading the over 2.5 market with a view to getting out after the first goal was a decent proposition.

Once the match went in play, I placed 5 x £5 bets at 2.00, 2.22, 2.5, 2.86 and 3.33. Unfortunately, no first half goal arrived and I traded out when the odds got to 4.33 for a £10.13 loss. A disappointing result, but I cannot complain. I read the game wrong. Perhaps it's a little too early in the season to be getting involved in such things.

With this in mind, I decided not to get involved with the Portsmouth v Man Utd game, though I did take the opportunity to paper trial a strategy I read about the other week. Early days, but it looks promising if today's result was anything to go by.

So, yet another day where I've made a profit that isn't worth talking about.

Not much trading for me tomorrow as I'm at a clients though there is some football on in the evening that I may have a look at.

Ships That Pass In The Night

Just a quick note about the new chat room...

It will be very easy to miss each other in the chat room so from now on, I will put a note at the top of the sidebar on the right to say when I'll definitely be in the room. This will predominately be for big soccer matches and other such major events.

Two things though:

1. Other than any announcements indicated to the right, you may still find me in the room at other times of the day. Just pot luck.
2. Don't feel that you should only use the room at those times when I've said I'll be in. The room is there for all to use and you are free to arrange meeting times between yourselves.

Please feel free to give any suggestions on how the room can be used to the benefit of all. If you have any thoughts or would like to arrange a time to meet up to share trading ideas on a particular event, then just leave a comment here and I'll get back to you.

Good luck with your trading this Bank Holiday.

A Pint Of Lager And A Packet Of Crisps

I didn't think I was doing to well today as I seemed to find it difficult to see anything of much interest. It wasn't until I checked my Betfair P&L for the day that I discovered I'd got involved in 19 races. I had actually scratched 16 of these for +/- £1 or less with no losses finally earning enough to buy some beer - figuratively speaking as I do not drink.

With the time spent this weekend getting the chat room up and running I haven't been fully focussed on trading so I was please to make another, albeit small profit. Particularly as I spent much of the afternoon using the chat room and getting to know a few of my readers.

Although I've been concerned this past week that my profits have been low, I am still using much reduced stakes since returning from my break. I'll be ramping those up again in the next few days.

I had intended to trade some football today, but the early goal in the Chelsea game scuppered that idea before I managed to get a bet on. I didn't fancy the Man City match and decided to leave well alone. To be honest, I'd prefer the season to be 4-5 games old before I got involved in any serious way.

I've come across a number of soccer trading strategies in recent weeks - some popular ones like laying the draw as well as other interesting ones. That's what's great, and confusing, about soccer trading. There's so many markets, it can be difficult to decide what strategy to apply to any given match.

I'll have a think about a few of them so that I'm happy with how they operate - or I at least understand how they operate. Then perhaps we'll have a few live sessions in the chat room where we can try them out.

Anyway, that's me for another day. Time to put my feet up, have a cuppa and watch the recording of the F1 GP I did earlier today.

Scratch That!

What a day. Everything was back to normal and yesterday's flash in the pan all but forgotten. As you can probably guess from the image below, today was something of a waste of time.


Right from the off, I couldn't do anything right. I lost on the first five races I entered putting me on the back foot yet again. Throughout the afternoon, I just didn't seemed to be focussed - I had been trying to sort the chat room out prior to racing and that may have been the problem. I didn't actually put a decent trade in until after 5:00!

Fortunately, that point saw a bit of a revival as I strung 6 good trades together to get me back into profit.

In the evening, I was adding the finishing touches to the chat room in-between races at windsor. This was another mistake, as I lost nearly all my profit, particularly in the 6:50. I switched from my web design software to BinarySoft a few minutes before the race only to discover that some major moves where in progress. I panicked trying to get on them but I was too late and I was bitten. I was particularly annoyed with myself at that point. Not because of the loss, but because of the missed opportunity to significantly make up for my poor showing in the afternoon.

So, once again, I'm left with a profit that wouldn't buy a pint of beer. Whilst I've maintained my 'winning streak' with daily profits like that, it is becoming more and more meaningless.

Chat Room On-line

How exciting. The chat room is now open for business.

I've spent the past few days looking for a chat room that was free to use, free from ads and provided me with the ability of managing users without the need for either me, or the users, to install additional software on their pcs. I've not been entirely successful.

The solution I've come up with is to use the free service provided by Parachat. Unfortunately, this is advert driven and results in adverts for adult chat rooms and other such unwanted stuff. However, with a bit of HTML web page design jiggery pokery I've managed to hide those adverts from view. This saves me telling you how to block these things at you router or via a hosts file.

This option however, does not allow me to manage users. So, the chat room is essentially on probation. If it gets used and everyone behaves in a sensible, courteous manner, then there will be no problem. By using it, users automatically agree to the 'chat room rules' which you can read when you go there. If the chat room gets abused, then I'll pull it.

I'm already looking at another, more secure solution but the provider's software/web interface is not ready yet. Neither does it integrate with my blog very well - but that's a minor issue.

Now that that necessary explanation is out of the way some other stuff about the chat room...

The chat room is open to anyone who happens to visit the Bet Your Life blog. As such, it is there for all to use, whenever they like. I won't be there all the time, particularly during the horse racing as I need all my concentration when doing that - as I've just discovered having lost money throughout the day because I've been setting up this facility. :-(

Ideally, I'd like the chat room to be used as a tool for everyone to learn to trade better. So, I see things like:

1. A group of us getting together before a soccer match for example, planning our strategy and implementing it together.
2. Perhaps a trader clued up on the techniques for trading cricket or tennis matches could come along and discuss what they are doing, live.
3. If you have a sure fire tip, share it in the room.
4. Exchange and discuss trading strategies, even demonstrate them.

You get the gist. What I hope the chat room doesn't become is a place where people meet to exchange idle gossip. It needs to be more than that to be of any use.

When I intend to trade a particular event, other than horses, I'll post a message on the blog in advance.

Finally, can I thank everyone who responded to my original question regarding the the chat room. Much appreciated.

So, there you have it. Have fun, and I look forward to meeting you there in due course.

Alistair

Change Of Fortune

Today was in marked contrast to yesterday's failure on the horses. I traded steadily throughout the day, notching up consistent trades throughout.

There was only one blot on the landscape where I lost nearly £4. That was a silly loss in that I wasn't really paying attention to what was in front of me. The market moved in my favour and I didn't take the few ticks profit I should have had. Needless to say, my hesitation cost me as the market then quickly reversed. No big deal, given my performance in the other races.

I traded 25 races today, scratching 11 and losing that 1 for a profit of £31.40. I started off the day using a £50 liability. As is my wont, I increased that gradually with my winnings so I finished the day on £80. Given the size of my staking, I'm really pleased with over £30 for my efforts. This is much more like it. I just wish I could be a bit more consistent.

Today's profit sees my current sequence go to 22 trading days without loss. This sounds great, but as I was saying to Leon over at Don't Give Up your Day Job, I've only earned £250 in that time, including today's profit. It should really be getting on for double that.

Moving on to other things...

It looks like there's a select band that may be interested in a chat room facility. I've started looking for an organisation that provides chat room hosting but the free options don't seem to have the level of security/user registration I'd like. Early days so I'll keep looking. Failing that, the other option would be to do group chats in MSN. I'd rather avoid that if possible as it forces everyone to have an MSN account.

I'll keep looking over the next few days and get something set up in any event.

I wanted to talk about some soccer trading but that can wait for another day. I'm going to cut this post short as it's been a long day due to the early start of the racing today.

Until next time...

Escaped By The Skin Of My Teeth

Another tiny profit today thanks to the Wrexham v Oxford match, but more of that later.

I had such difficulty with the horses today yet, after starting the day with a pleasing £3.50 profit, I thought it was going to be oh so different. Unfortunately, the next two races saw me throw away over £10 and I was on the back foot for the rest of the day.

Apart from that first race, virtually everything I touched went wonky. I just couldn't read the markets at all. On the few races I did get it right, I didn't get involved as the earlier losses had knocked my confidence somewhat.

On numerous occasions I spotted big moves just as they began, but all I did was sit and watch them for fear of an immediate reversal in the market. Very frustrating.

I traded 21 races, scratching 13 of them - with many of those 'scratched' for the loss of a few pennies. Those pennies all add up of course. I lost 5 races at a cost of over £18 resulting in an overall loss on the day of £11.69.

I thought my current winning streak was up the spout, but I turned to the Wrexham v Oxford match to save the day.

I felt that there would be goals in this one so I waited until the match went in play and then backed the over 2.5 goals at 2.10, 2.25, 2.5, 2.75 and 3.00 for a tenner each. I then sat back and waited for them to be matched - and for a goal of course.

Not long after the first of these was matched the market was suspended due to a sending off. Fortunately for the daily total, Wrexham missed the resulting penalty. I re-entered the remaining bets once the market re-opened and I got two of those matched before the first goal.

When the market re-opened, the odds were such that I was able to get a greened up profit of £13.68 which I was happy to take as it saved my day. That turned out to be the best decision I'd made all day as there was only one more goal and that wasn't until the last minute.


So a staggering profit for the day of £1.99. I've obviously got to be happy with today's escape, but it's clear I'm still struggling to reach the levels of performance I was getting in the horse markets back in June. I wish I knew the reason why.

A Bit Cheeky, But What The Hell

I made the grand sum of £1.54 tonight so I feel it's a bit of a cheek adding another day to my current winning streak, but what the hell! A profit is a profit no matter how small.

I traded 7 races this evening, scratching 4 and losing 1. The loss was more of a punt as I stuck £2 of my earlier winnings on 'Malpropism' in the 7:55 at Folkestone. This was one of Graeme's picks over at The Experiment. I set a closing trade at 1.80 but it unfortunately never came close to getting matched.

I was happy to do this as there wasn't much happening trading wise, and I wasn't risking any money on the day having won it in an earlier race.

The last race, for the second evening running, was a bit of a mess. On this occasion I didn't lose any money but I managed to turn a greened up profit of nearly £4.00 into a greened up profit of just over £1.00. Silly me!

Thanks to those who have responded so far to my question regarding a chat room. I'll leave the question open for a while longer to give others a chance to say yeah or nay.

I agree with the idea that it should have some form of control to blog the Neanderthals. Whether that is done through some form of invitation only mechanism or pre-registration I'll have to wait as see. I know there's a number of chat room facilities out there, but I haven't investigated all possibilities as yet. My only requirement at this time is it should be free. Free of ads would be nice as well, but I'll cross that hurdle when I come to it.

I'll let you know about progress once I'm happy that it will be used and I've sourced a suitable supplier.

Would You Use A Chat Room?

I tried setting this question up using Blogger's 'Poll' facility, but everytime I did, it came back with a message saying the poll did not exist, or had been deleted.

Anyway, I was wondering if I was to set up a chat room facility available from this blog, would you use it? Just post a comment to this posting with your response.

I'm thinking that, at certain times of the day, a group of like minded traders could get together to trade a soccer match for example, share tips and strategies and generally help each other improve.

Let's see what the response is like. If it's a popular idea, I'll investigate what options are available to me regarding chat room software/facilities and set one up accordingly.

Anyway, on to today's trading - not that there was much to trade...

I would have missed the afternoon trading in any event due to the need to take my daughter shopping for school clothes. What is it with the fairer sex and clothes shopping? I'll never understand the fascination. I'd rather spend the time cleaning out the lavatories in the Scotrail rolling stock - believe me they are not a pretty sight.

Sorry, I digress...

Today was fine. As per yesterday, I kept the stakes low and traded 10 races this evening. I kicked of with a £0.89 losing 'scratch' then started to consistently string some decent trades together. Apart from three horrible races mid-evening which I scratched, everything was going along swimmingly - until the last that is.

I laid 'Fourpointone' and could easily have taken a two tick profit, but decided to hold on for a few more. They did come, but when I clicked to take them and close the trade, I mistakenly did so at the next highest odds, so my bet wasn't taken. The market then quickly swept through my position in the opposite direction forcing me to get out for a £3.50 loss.

Despite this annoying schoolboy error, I wound up with a profit for the day, albeit somewhat less than I should have had. 10 races traded, 4 scratched and 1 loss for a profit of £6.50. Not great, but I'm happy knocking up such profits when I'm on reduced stakes, particularly as I didn't expect to get any trading done today.

It looks like the weather has decimated the race card tomorrow, so I won't feel I've missed out spending all day with a client.

Please take the time to leave your thoughts on the chat room idea and I'll take it from there.

Getting Back In The Swing

Today was my first full day back after my break so I decided to take things pretty easy - not difficult with the delays at Wolverhampton this afternoon.

I decided to keep my stakes low and worked to a £50 liability in the place markets, as usual. Right from the first race, I felt really comfortable and quickly started earning nearly £2 per race. Throughout the afternoon, I was very wary of getting involved in the delayed races at Wolverhampton. I used Betfair radio to give me an indication of when each race was about to go, but I made sure I was out long before the off. As a result, I scratched much of those races.

Indeed, after the first hour or so, I spend quite some time scratching just about every race that came along. In the end, I got involved in 20 races and scratched 14 of them. I racked up losses of £1.49 but that was over 4 of those scratched races so that was very pleasing. I finished the day £15.20 up, which, considering my break and reduced stakes, I was quite pleased with.

As I mentioned in my last post, I've reduced my Betfair account to £500 simply because I didn't want to leave more than a grand in my account, not collecting interest. I've decided I'm not going to bump it up to £1000 again. Instead, that will be my new target - turning £500 into £1000 - which hopefully I'll be able to do in about 6 weeks.

I'm likely to miss the first day at York depending on how long my daughter drags me round the shops tomorrow. Hopefully, I'll be able to get at least a few races in tomorrow where I can continue with today's steady start.

Until then...

I'm Back And Refreshed (Hopefully)

Well my break is officially over. I've had two excellent weekends of motor sport up at Knockhill Racing Circuit where both the British Superbikes last weekend, and the British Touring Car Championship this weekend, served up thrills and spills galore.

In between I managed to get away with my daughter for a few days camping. We spent 4 nights at Faskally, which is just north of Pitlochry in the heart of Perthshire. It was a bit damp the first couple of days but fortunately remained dry when erecting and dismantling the tent.

We got back Friday afternoon when I managed to catch a handful of races for a tiny profit at much reduced stakes. I did the same during the Saturday evening races after returning from the BTCC qualifying day. I was just trying to keep my eye in, and as I only made a couple of quid I won't bother including that in my running totals.

Despite promising myself I would, one thing I didn't do during the break was take stock of my trading and think about where I would go from where I left off. To be honest, I was completely chilled out the past 9 days or so, I simply couldn't be bothered. That is a task that still needs to be done though.

In the meantime, I'm going to carry on trading the place markets, but now that I've built up my bank - I've reduced my Betfair account to £500 by the way (no point in them getting the interest for it) - it is time to investigate other sports.

I've already detailed my Tennis Hedging Strategy. I'll be spending a bit more on this once the Olympics are over. I've also picked up a couple of soccer strategies which I'll be looking into with small stakes initially.

So, I'll be back on the trading trail tomorrow, though I'll probably miss much of Tuesday due to the need to shop for school clothing for my daughter - I hate shopping at the best of times but that must rank amongst the worst kind. I'll also be at a client's all day Wednesday so I may not get going fully until Thursday.

In any event, look out for my regular blog updates once again as I get back into the swing of things.

Time For A Break

Another waste of time. Another disappointing day in a long line of disappointing days that seems to stretch back to the dawn of time.

I cannot begin to tell you how sloppy my trading was today. It staggers me that I lost a fraction over £30, yet I still managed to post a profit, albeit not enough to buy a pint. I'm clearly able to put in some good trades, but there really isn't any point if I'm putting in as many bad ones.

I started off the day reasonably well, but after the first hour, I embarked on a run where I gave away all my gains up until that point. From then on, every time I made a good trade, it was followed be an equally bad one.

I traded a total of 32 markets today, scratching 12 and losing on 11 at a cost of £30.07 all to earn the staggering profit of £2.51! So the only good thing I can say about today is my winning streak stretches to 17 days. For such a pathetic amount, it's pretty meaningless.

One of the disappointing side-effects about my performance, not only today, but the past 4 weeks, has been my inability to take advantage of some in-play hedging whenever I've spotted an opportunity. Over the past month, I've continually spotted many long-ish priced horses in the place market that have gone on to place. As I haven't earned any money pre-race, I haven't been on them. I will not gamble on them.

Having said that, I had a punt today on 'Golden Prospect' in the 7:20 at Sandown. This runner was flagged up by Graeme over at The Experiment, and I couldn't resist, seeing as it was my last day.

I had earned a couple of quid in the place market, but I decided to stick £5 on it in the win market. I backed it at 11.0 and placed a lay bet to keep at 3.00. If matched, this would give me a guaranteed profit of more than £10. Foolishly, however, I got greedy. I canceled that bet and placed two smaller lays, one at 2.00 and one at 1.50. I say foolishly, as in-running it shortened to under 3.00, then drifted back out again. My 2 lays never came close to being matched.

In many ways, this summed up my day, if not my month. A month in which I'm glad to see the back off. I'm looking forward to just chilling out and spending time with my daughter, particularly as I haven't seen her for over 2 weeks.

At this point in time, I have no idea what I'm going to do trading wise. I have not particularly enjoyed trading the horses in recent weeks. Not because I've not made a huge amount of money, but because I've been going backwards and I don't understand why. I need to figure out if I want to move to the win markets (not looking forward to that), carry on with the place markets (and possibly continue to waste my time), move on to slower paced markets where I can take a longer term view, or even give up altogether. It may very well come to that.

Then there's the issue of BinarySoft BDI. As a Linux user, it was the only trading application that would run on my system. I've investigated running MS Windows in a virtual box inside Linux which would allow me to use Windows based software. The trouble is, there will be a lag caused by the virtual box - there is an operating system running inside another operating system after all. I don't know how big that lag will be as I haven't had the opportunity to test it as yet. It may turn out to be prohibitive.

The only other alternative is to go back to MS Windows. Something I really do not want to do for a whole host of reasons which I won't go into in this post.

So, I've got an awful lot of thinking and soul searching to do while I'm taking my mini sabbatical. I just hope that my head is a bit clearer on my return.

I'll be back trading a week on Monday. Until then, I hope the trading/gambling gods are good to you.

Bloody Hard Work!

What a day! Who ever said that this trading lark was an easy road to riches?

I got involved in 28 races today and scratched 18 of them. I'm never going to make much money doing that. The rest of the races seemed to take me 2 steps forward and 1 step back, but I had managed to scrape into double figures by the end of the afternoon.

After dinner, I quickly found myself on the back foot when I lost over £5 in the 6:05. The evening markets were a bit of a nightmare with me reversing the afternoon trends and taking 1 step forward and 2 steps back.

In the end, ignoring small penny loses in the aforementioned scratched trades, I lost 4 races today at a cost of £16.42 which was very disappointing. This left me with a meager £6.37 and another virtually wasted day under my belt.

Only one more trading day to go, before I go on my break. At this rate, it's hardly worth bothering. As ever though, I shall, in the forlorn hope that I might actually put in a decent return. I'm certainly due one.

Interruptions Abound

I didn't make much money today so I'll keep this short.

I had so many interruptions today that my concentration was severely effected. Not only that, I missed a number of races as well.

By 5:00 I was looking at a losing day, but thanks to some excellent trading in the 5:15 where I managed to turn an opening £1.56 losing race into a £6.00 profitable one, I wound up in the black for the day - albeit by only £3.

So the only good news today is that my sequence of trading days without a loss remains intact, if only just.

Back on the trading bandwagon tomorrow when hopefully I'll get a little peace and quiet to concentrate on the task in hand.

It's A First! No Losses!

OK, that's a bit of a con as I only traded 9 races this evening as I was at a client's all day, but what the hell.

Sorry, I'm getting ahead of myself. First, let me give you a quick update of Sunday's performance as I didn't have time to post to the blog after trading in the afternoon.

I decided to try a little experimentation on Sunday. Specifically, I traded in a much more defensive manner. I scratched trades immediately if they did not go my way as soon as I entered the market. This worked very well in the main, in that I scratched 13 out of 17 markets - not what I had intended. The last few I got sloppy and lost on a couple due to other outside distractions. Consequently, I came away with a small profit, but nothing to write home about.

Whether I got a profit or not, wasn't the object of the exercise. It was all about getting in and out of the market without a loss. The problem is, I found that style of trading quite difficult. It completely goes against my normally aggressive, some what riskier methodology. A useful exercise none the less.

Now, on to today...

I managed to get home from work in time for the 6:00. Monday markets, particularly in the evening, can be very quiet at times, so I reduced my liabilities to £80 and set about the place markets. I missed a few after the first 3 in order to have some dinner, but other than that I traded all the evening races.

The place markets were surprisingly good this evening. So much so that, although I came away with a reasonable profit, I'm a bit disappointed it wasn't more. I missed a few excellent moves as I was watching the wrong horse at the time. I also contrived, on three separate occasions, to turn a £5+ greened up profit into £1 profit. So that was a tad annoying.

Still, the big plus this evening was not having a loss. I traded 9 races and scratched 3 resulting in a profit of £10.41. Not bad considering I'd dropped my stakes as well.

Another positive to come out of this evening is that with tonights profit, I equaled my previous best run of trading days without a loss. 14 to be precise. I last did that back in April with those 14 days earning me £78.62. This current run has netted me £184.01.

I've now got 3 trading days before I stop for a 9 day break. It will be good, if I can achieve a profit in each of those and end on a high.

Early Finish

Like Thursday and Friday, I traded steadily and accrued a decent profit in the afternoon. Unlike the last two days though, I have no desire to throw much of it away again the first evening race I enter. That's one particular hat-trick I can do without so I've stopped for the day.

I traded 19 races in all today, scratching 12 and losing only 1 at a cost of £5.75. That single loss was particularly annoying as it came straight after my best trade of the day in the 5:00 where I netted £12.19 after commission. How often does that happen? Still, I'm happy with £25 for just over 2 hours work.

Back again tomorrow...

Stupid Bugger!

I've calmed down now. Unlike yesterday, I didn't want to write this blog entry straight after I screwed up again. Instead, I'm typing this up having spent some time reflecting on the past couple of days - and devouring a large bar of Cadbury's Fruit and Nut to the point where I now feel sick LOL!

Today, I did exactly what I did yesterday. I spent the afternoon steadily building up some profit with barely a losing trade to be seen. I went off to have my dinner then, on my return, I threw virtually all of it away on the first evening race I get involved in.

Again, I was so annoyed with myself that I felt it unwise to continue and decided to quit in order to preserve the few pounds profit I was left with.

I'm not going to bother detailing my trading today, particularly the one I screwed up. I made a mistake. I got involved in a race that was screaming at me to avoid. One of these stupid errors that I thought I had got out of my system long ago.

Back tomorrow - hopefully without the feeling of nausea.