September Summary

Well, the end of another month and a very pleasant one it was too. Not least, because my Betfair account is in profit as I reported the other day.

Having just failed to better my best month result of £515 for June you might be surprised to hear that I think, from a trading perspective, I consider this month to have been my best. Granted, not from a financial point of view, though only marginally, but consider this:

I started trading a completely new market, namely the greyhounds and made £458 from that sport alone. So I quickly came to terms with the way those markets behave. Yes, I got caught out a few times, as well as having my share of fortune, but at the end of the day, I took to those markets like a duck to water.

Secondly, that profit was earned by trading with no more than £35 stakes and frequently less than that. To get such a return from risking so little is very pleasing indeed.

I also tried some other markets with mixed success.

I ventured back into the horse place markets towards the end of the month. As I've documented on the blog many times, my confidence in these took a bit of a knock in July and August. In retrospect, that's a good thing as I wouldn't have tried the greyhounds otherwise. Still, the jury has yet to make a decision regarding my return to the geegees.

I had a foray into the mystical world that is the FTSE 100 Hourly markets, which proved to be a bit of a flop. I'm glad I had a look, but I doubt that I'll be venturing back there any time soon.

I also started getting involved in the soccer markets, though I will always be more of a punter here than a trader. I've never been happy with exit strategies in these markets so I'm more than likely to do a straight bet when the mood takes my fancy - like tonight when I had a failed attempt at an over 2.5 goals treble for a £5.

That's actually an important point for me. Although this blog is about my exploits as a trader, it's fun to have the odd punt on the footy. However, these will only ever happen with money I've earned from trading and will be for small stakes. It helps to satisfy the lingering gambler in me I suppose.

All these markets contributed the following to the monthly totals:

FTSE 100 Hourly... -£14.88
Greyhounds... £458.17
Horses... £31.19
Soccer... £23.73

So, what next? Essentially, more of the same for next month if you please. I will continue to trade the greyhounds, but will start switching more often back to the horses in the afternoon, with soccer and dogs in the evening. Clearly the horses and soccer need some more work. If I can get them to contribute their fair share each month then I'll be laughing.

September of course has seen the uproar caused by Betfair's introduction of the premium charge. I'm not sure yet how that is going to change my trading. At the moment, I'll continue with Betfair to trade the greyhounds and horses, primarily because I'm still using BinarySoft BDI. I am told I am not effected by the premium charge. How long that will last now that my account is in profit and my progress continues, I have no idea.

I am already doing all my soccer trading/betting over at Betdaq and will continue to do so. With regards to the horses and greyhounds though, I guess I will need to see how the markets are effected on Betfair and if that has an impact on me. The point being, that at some point, if I wish to move across to Betdaq completely, which I suspect will have to happen at some stage, then that old chestnut of Linux/Windows/trading software will raise it's ugly head again. I'll cross that bridge when I need to. In the meantime, I guess it's carry on as I'm doing.


leonthefixer said...

Well done mate - An excellent month and one that you should quite rightly be very proud of!

500 quid a month would be an extrad 6k a year tax free. Now that has to be good in anyones book!

I hope your daughter enjoys her share too! I guess in a way you are already suffering your own Premium Tax!

Best of luck for the month of October - If I can achieve half of what you have achieved this month on the dogs next month I will be very very happy!

See you in the Chat room - well done again!

Alistair said...

Many thanks Leon.

The next target is to make it consistently I guess. As long as you don't start mugging me at the dog tracks, I'll hopefully manage it.


Anthony said...

Well done Alistair. Keep it up. £500 a good amount of money. Sorry I've not been in the chat room much - been very busy.