Bad Day At The Office

Actually, it's not been a particularly good week, or at least start to October anyway. I did so well in September trading the greyhound markets, yet now I'm struggling to break even. I've only made £3 in those markets since the turn of the month. I've no idea why. I just don't seem to be able to read those markets all of a sudden and find myself getting caught far too many times.

I think I'll take a couple of days away from the greyhounds and give myself a break. Hopefully that will help me get back in gear.

I spent the first couple of hours this morning, losing on the dogs, so I decided to concentrate on the football for the rest of the day. That, as it happens, turned out to be a bad choice.

I had a couple of £5 punts, which failed miserably and I also got involved in the Sunderland v Arsenal game.

This was a game where I felt there would be goals so decided to do my normal over 1.5 goals market where I'd place bets later in the match, looking for higher odds. I didn't get involved until just before half time when the odds were 2.00. Having stuck a fiver on that, I put another £5 on at 3.00 and mid-way through the second half, £5 more at 5.00.

Unfortunately for me, the Sunderland goal came a little to late in that the odds didn't drop far enough to give me a profit and I traded out for a loss of £3.90 - only for Arsenal to equalise immediately after I had done so. I little more patience on my part and I would have had a profit of £35! Typical.

Actually, this goes to the very heart of why I do not like trading football. I've never been happy with any exit strategies I've come across. Of course, as a trader, getting out when I did was exactly the right thing to do. However, I go into these markets expecting goals and getting involved at very good odds. In the long term, I should profit from that by letting these bets run.

I first started looking at the over 1.5 goals market nearly a year ago, primarily because I was fed up with my over 2.5 goals bets being let down by the lack of a single goal. In those days I was trying to trade them by backing them pre-kick-off at odds of around 1.35-1.40 and I'd get out not long after half time to minimise my losses. Of course, I then had loads of games that went on to have 2 goals later in the 2nd half. Again, my exit strategy was wrong.

I seem to recall when I looked back over my results, I had a hit rate approaching 95%. Given that, perhaps I should just punt these and forget about trading them. The trouble is, I've worked hard in the past year to get the gambling mentality out of my head and replace it with that of a trader. It may be difficult going back the other way.

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