Do I Have 'MUG' Stamped On My Forehead?

It certainly feels like it after yet another terrible performance in the horse win markets. I came away with a small profit today, but that is thanks to the two Bet365 featured races and some decent matched betting.

As far as the trading is concerned I seemed to be on the wrong side of a sharp reversal in every race. You'd think I'd be on the right side now and again. Not this 'mug'. Last week, I thought I was beginning to get somewhere. Obviously not if the past few days are anything to go by. Indeed, I'm very quickly going backwards.

Aside from the two Bet365 races, I traded 15 races today and lost 6 of them at a cost of £22.93. Far to many large losses, not to mention the number of potential large losses that I managed to recover. My overall P&L for pre-race trading alone was -£8.29. That makes three losing days in a row for the pre-race markets.

One of the things that is frustrating me in particular is my entry points. If I join the queue at the head of the market, I never get matched. The market moves off in the direction I thought it would resulting in either scrapping the position or chasing the price in order to get on (always a dangerous thing to do in my experience).

On the other hand, if I jump ahead of the market to ensure I get matched, the market seems to move against me almost every time putting me on the back foot.

If I had any hair left, I'd pull it out! Instead, I'm away to see if I can wash 'MUG' off my forehead.


Paul said...

Maybe you've been falling victim to this crazy punter that's been lumping on and sending the price flying. You'll soon be back on track, mate

Drifter said...

Keep at it Alistair. We all have days like this (well most of us!). Which horses are you trading at the moment favourite/2nd favourite?