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.


David Allen said...

hey there Alistair

Just been reading about you and it seems we have similar interests. I am into betfair trading when I am not working at the campsite where I an hidden away for the summer. I prefer the trading on the under 2.5 goals markets though.

Then it seems that you are also a linux user as am I - I use Ubuntu on my laptop and Mac Leopard on the iMac. I loved using Binarysoft and I am saddened to see it go away now. I don't like using Windows either - kind of goes without saying when you have a Mac or two.
I plan to try out some of the Windows software on Ubuntu if I can.

Then on top of all of that I am an ex art teacher and I make illustrations to sell on microstock sites. I really enjoy making the art work and I will be glad to get back to my Winter work. I work under the name of Spondicious Photography for the art work.

Would be good to get in touch with you and have a bit of a chat about stuff.

All the best
Wizardgold and Spondicious

Alistair said...

Hi David,

Good to hear from you. I too use Ubuntu - even my 12 year daughter uses Ubuntu which lends a lie to the idea that Linux is too difficult for normal users.

If you're planning to run trading software on Ubuntu, you'll have difficulty unless you use a virtual box. I can't get anything to run under WINE, primarily because they all seem to depend on the .NET framework, which I do not believe runs under WINE.

If you want to have a chat sometime, then you can MSN me. My address is at the bottom of the right sidebar. I'm not going to be online much over the next 9 days though.

I'll speak to you then.


Anthony said...

Have a good break Alistair. I hope you come back refreshed and determined.

Alistair said...

Cheers Anthony, I certainly hope so. Good luck with your trading in the meantime.