It Was Bound To Happen Sometime

Apologies for the late posting for yesterdays results. After the final race yesterday, I spent quite a while in the chat room where a very useful debate was going on trying to identify where, or indeed if, I was going wrong. Thanks to those who took part and offered advice - it has been most helpful.

To quickly summarise yesterday's proceedings...

I started the day on the dogs where I slowly made some cash using £20 stakes. I had a couple of biggish losses in comparison to the wins, but I was in profit. After an hour or so, all trading was brought abruptly to a halt by a power cut. Fortunately, I didn't have an open position at the time.

From my landing window, I can see the substation that serves my estate, and there was an engineer working there. When I spoke to him, he said he'd had to switch the power off for 60 secs or so. Thanks for telling me! Anyway, he informed me that everything was up and working again and there'll be no further disruption.

I did a little more successful trading on the greyhounds and geared up for the horse racing in the afternoon. That's where things really started to go awry. I scratched the first race, then lost £9.64 in the next! When one looks at that, and considers my liability of £90 I was using at the time, that seems excessive. I should point out that that was not through one bad trade, rather a sequence of them where I'd lose, go back in to retrieve it and lose again repeatedly. I still haven't learned to walk away when things go wrong.

Anyway, as you can imagine, that was me on the back foot yet again! The story of my trading the horses for some time now. To cap it all, the power went off again! This time for nearly an hour.

I really should have taken this as an omen and abandon trading for today, but against my better judgment, I ventured forth again into the 3:50 and promptly lost another £3.24. OK! Point taken. That was me for the afternoon as far as the horses were concerned. Instead I spent another hour or so playing around in the greyhound markets.

To cut a long story short, in the evening, I made a valiant attempt to recover my losses by some trading in the Germany and England U21 matches as well as trying the racing at Kempton. The football got me within £1 of being level for the day and the second last race drew me closer still. I only had 32p to get from the last race..... but I lost £4.80, and so there ends 33 days of profitable trading and time to stop recording it on the blog as advised by Roberto Cassini some time ago.

A loss of £5 today is of course insignificant in the grand scheme of things. What has been of greater concern is the way I seem to be going backwards in terms of earnings from horse trading. There's no doubt I have been finding the place markets difficult in recent weeks. A combination of a change in the way they are behaving, probably due to the increased amounts of money appearing there, and my inability to read them as I once did.

The conversation in the chat room last night went someway to allay my fears, but it is clear that spending 5 hours a day to barely win a tenner is hardly utilizing my time in an efficient manner. I need to do something about it and one of those is to change the software I use.

I feel I have outgrown BinarySoft BDI as far as trading the horse markets are concerned and need to change to BA Pro. This of course was always on the cards with BDI's demise, but I've been putting it off for so long to avoid having to use Windows.

This morning, I've requested a free trial of BA Pro for a few days so that I can test it in a Win XP environment running inside a virtual box on top of Linux. I want to check to see if there is a significant lag in bet submission due to running an operating system inside another. If the trial is successful, I'll subscribe to BA immediately. If not... then I have a decision to make. Do I abandon my principles and go back to Windows in order to continue trading horses or do I stick to Linux and trade slower paced markets that do not need dedicated trading software?

Before I go, a quick note about the blog/website. I've added a links page as you'll see from the menu at the top. I've moved all the blog links that were in the sidebar to the right. This effects those of you who exchanged links with me in the past. If you wish to revise those agreements due to this change then I understand. Also, since I now have space, if you want a brief descriptive sentence next to your link then send me a quick one liner with what you want.


Anthony said...

It may seem harsh Alistair but I'm not sorry your streak of winning days has come to an end. Although you were not completely content with your profits over that period, it HAD provided you with something of a comfort zone, which, I believe, was preventing you from moving forward significantly. Now you will have to re-assess: not whether you continue trading on horses or use another piece of software but how YOU, as a trader, will move forward in what you are already doing. There are lots of good traders, reading your blog with interest, who would be happy to answer any questions you have. There's plenty of money in the markets for us all to share.
Best regards,

Cassini said...

Hi Alistair, these runs all must come to an end, so put it behind you and move on. Would you rather have 100 days of winning £1 or 100 days alternating between £5 losses and £10 profits? A winning day is meaningless in the whole scheme of things, just so long as the long-term trend is upward. Good luck.

Alistair said...

Hi guys and thank you both for your support.

Losing a fiver yesterday was a drop in the ocean. An insignificant blip. It isn't my first daily loss and will certainly not be my last.

One thing a loss does do is make me question my abilities. I am a pessimist by nature and will tend to look bleakly on the slightest setback, even when no such setback exists - if that makes sense :-)

Anyway, back on a winning trail today, thanks to a new market, so lots of areas to explore and skills to learn.

Onwards and upwards