Another Poor Day At The Office

I carried on with my slightly elevated stakes today - and got nowhere again. In fact, after the first hour I'd entered 8 races and lost in 5 of them. Not huge amounts, but clearly my head wasn't in the right place so I stopped. I returned for the afternoon session, but it was just as bad.

Come dinner time, I had managed to claw my way back to the grand total of £3.

Things picked up in the evening but it was slow going. Most of the markets were pretty dead so once I'd got myself into double figures I stopped for the day, somewhat disappointed and deflated.

I had entered 50 races today and lost on 16 of them at a cost of £17.74. Not my best performance but a profit none the less.

In between the evening dog races I resurrected something I'd been toying with before I started concentrating on the dogs. I returned to my favourite football market, the over 1.5 goals. This time the Derby v Nottingham Forest match caught my eye.

The idea is to drip feed bets into the market every 15 mins up to whatever overall stake I'd be prepared to lose. As I'm just trying this out, I decided on £5 bets with a limit of £20 which would take me up to half time.

I had £15 matched in the market when Derby opened the scoring at which point I laid off for a free bet. With Forest equalising in the second half, this netted me £3.53 after commission.


PhilipH said...

Well done Alistair. As an interested would-be trader, who knows nowt about football(!) what price(s) did you back at?

Alistair said...

Hi Philip,

I backed at 1.38, 1.5 and 1.76 and traded out at 1.30.

This is not necessarily a trading technique I'd recommend. Indeed, I don't get involved in football that much as my trading mind is continually in conflict with my gambling mind.

After the first goal I shouldn't have traded out as I felt from the start of the game there's be more than 1 goal.

Compare that to today's match at Aberdeen when I thought the same thing, did the same and lost £20.

The point is, I really am not the best person to advise how to trade football as I do not do it to any great extent. There is simply too many chance of getting my backside bitten. I wish I could find a way of trading football that I liked, but I fear that will never happen.

Won't stop me from dabbling mind you.


PhilipH said...

Thanks Alistair. Looking at your monthly P/L list you certainly seem to be doing very nicely, especially in December! I have just bought a book called "Lay, back and think of WINNING" by Nigel Paul. I shall be delving into that over the next week, in detail. I am becoming more and more interested in this sports trading topic.

Anonymous said...

Hi Phillip H,
the book was good at the time but is now seriously out of date. Before buying any book on trading, look at the Ist published date, discard if over 12 months.