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 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.


Cassini said...

Hi Alistair. I recently wrote a post on my blog about the 'evils' of short-term goals and my seemingly harmless obsession with making a profit every day. Take a look and good luck with the blogging.

Alistair said...

Hi cassini and thanks for the comment.

I had actually seen your post before you mentioned it.

Goals and targets and how/should one set them is an interesting subject.

Like you, I'm more interested in monthly and annual targets and trends than daily short term ones. However, whilst I do not set daily targets per se I find being aware of my daily performance and how that relates to previous days is a useful indicator. Another point on the curve if you like - as long as one doesn't get too hung up about it.

It can serve as an early indicator of general trading success, or, more importantly, if something needs addressing. Bet yes, it shouldn't be used in isolation and it certainly isn't the main trend indicator one should be using.

My inclusion of longest daily winning and losing runs was initially a curiosity - something interesting to put on the blog more than anything else. I agree with you that it shouldn't develop into anything more than that.


Iranian Giraffe said...

Hi mate.

I can see why it's hard for you to make the change from Place to Win markets on the horses it's completly different (or going by the 5 or 6 races I did anyway). basically I had all my money bar £3 tied up in the Big Bro markets waiting for my bets to be matched so I decided with the huge bank I had left (£3 lol) I would have a look at the place markets, the difference was crazy,1 minute I could back at odds of say 5.6 and the next minute my lay of 5.1 had been matched, I really don't get why people don't ask for their own prices as they would get much better odds, I only made £1.28 but it was from a £3 bank lol and I was only quickly browsing the markets as I was looking mainly at the Big Bro markets to get my bets matched.

Alistair said...

Don't tell everyone. The last thing I want is loads of money to come into the place markets making them behave like the win markets. :-)