Still Too Many Mistakes

I had another good day on the nags today which was prevented from being an excellent day thanks to a four race losing run just before dinner which cost me £16. Still, this afternoon saw another record trade, this time at Yarmouth in the 3:40.


I could certainly get used to double figure trades!

I traded 26 races losing £25.57 over 8 races. Finishing with a profit of £28.33, I'm wasting a lot of my winnings by giving this amount away. Clearly, I still have a lot of work to do to minimise these losses. Doing so would boost my profit by almost double.

I'm still finding myself drawn to the favourite, particularly when there's not much money around on the other runners. This costs me virtually every time, not least of all today where half those losses were on favourites. Obviously a temptation I need to resist until such times that I have the experience and skills to deal with those markets.

Despite this, I'm very happy with the way things are going and looking forward to gradually increasing my stakes over the coming weeks in order to boost my profits still further.

I also did a handful of dog races in the morning. I'm still finding these markets difficult for some reason but I managed to pick up a few pounds which takes my profit for the day to over £31. It's been a while since I posted a return that high and is most welcome indeed.

I finished early thanks to my son arriving and immediately causing a rumpus. Experience has taught me just to quit when he arrives as the noise level in the house increases tenfold. You wouldn't think he was 18.

2 comments:

Steve Lewis said...

Hi,

Great blog and it's good to see your results are improving.

I was wondering what bank are you operating with to achieve these results.

Thanks in advance.

Steve

Alistair said...

Thanks Steve.

I maintain a bank of £1K in my BF account, though I don't risk that on any one trade. With my horse trading at the moment my max liability is no more than £200.

My stakes vary depending on odds as described in my recent post 'Stakes In BinarySoft BDI'.

Alistair