Another One Bites The Dust

I was saddened to see that Mark Iverson has decided to end his trading blog - not his trading I hasten to add. Bloggers come and go of course, and it's a significant investment in time to keep posting while avoiding the risk of repeating oneself. So I understand Mark's decision and wish him all the best for his future trading.

It is at times like these that I question my reasons for blogging my trading exploits. I started this blog almost one year ago with the sole intention of using it to help me maintain my discipline and to that end, it has been an invaluable tool. What other people get out of it, if anything, was never a consideration for me.

It can become quite boring simply putting one's daily results up, not just for me, but the readers as well. Trying to think of something valuable or insightful to say day after day can be extraordinarily difficult. That's why I have tried to add additional features to the blog, such as the chat room, in order to stimulate debate, interest and comment. Through this, I've met a number of other traders with whom I converse regularly.

However, if this blog has done anything for those reading it, I hope it has demonstrated that it is possible to make decent money from a small bank. It takes discipline, patience and commitment but it can be done as I can testify.

So, I'll continue to post my results as close to daily as possible in the hope that those that come across my ramblings can find some benefit from it - even if it is just for a giggle. After all, even ritual humiliation can inspire one to greater things ;-)

So, with that in mind, on to today's trading...

I tend to take things easy on Saturdays with a spot of dog trading in the morning followed by bet matching the Bet365 CH4 horse races in the afternoon.

I abandoned the dogs this morning after 90mins or so of profit followed by loss. I was getting caught far too many times and as a result, after a losing trade of £5.50, I gave up with barely £1 to show for my efforts.

The horse matched betting didn't get off to a particularly good start as the odds on Bet365 were shocking. It amazes me why, in general, any punter would go to a bookies when the odds on BF are so much higher.

As you can see, I only did 4 races today and failed to find any winners. but picked up £10 for my efforts.

Interestingly, the last of those saw me get a great spread when the odds on Betfair dropped to 6.00 to lay 'Noticeable'. Bet365 were slow to react and I managed to get the 6.50 they had on offer at the time. Immediately afterwards, they slashed the price to 5.50!

With my net win liability only sitting at -£1.32, I should have laid off a bit more, especially in running when the odds went below 4.00 for a while. Foolishly I didn't and the benefit of getting a 6.50/6.00 spread was wasted.

I returned to the dogs for a little while as the afternoon card at Newcastle was drawing to a close. I'm glad I did as I picked up £16 in three races including my best ever dog trade of £11.

That profit for the horse racing looks impressive, but that was the winning part of the bet matching. £200 was lost on Bet365 as part of the process.

The extra £3 or so was thanks to trading where I increased my 'back to basics' bank by 12%. It now stands just shy of £31.

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