I Should Have Stuck To The DIY

A difficult day today, for me at least. I recognise that the 'big boys' love these major meetings but, to be honest, the amount of money in these big races scares the life out of me. So, I went into today with every intention of leaving the Ascot races along. That in itself was a problem in that there was only one other meeting on at the time. Which led to boredom and mistakes.

I decided to increase my stakes by 10% today, not that it did much good. I spent the whole afternoon treading water, stopping for dinner just after 5:00 with more or less what I had started with.

I came back in time for the 6:00 race at Yarmouth and immediately wished I hadn't bothered. I had a six race run where I lost heavily in 4 of them with the combined profit in the remaining two barely enough to cover one of those losses. I quit when the last of those races saw me lose £10 and I started to wish I'd carried on with the DIY.

Another break and a good talking to myself saw a better performance where I was able to recoup a fair chunk of my earlier losses.

In the end, I lost £8 on the horses so no major disaster and ready to try again tomorrow. This time I must concentrate that bit more. Too many times was I caught by sharp reversals and traded out when a patient game would have seen the market readjust itself. Mind you, that old chestnut of being drawn into trading the favourite early on kept rearing its ugly head. One day, it will eventually sink in.

4 comments:

Anonymous said...

Hi Alistair,

I know the pain involved in laying the flooring! Much easier to lay a bet. After doing the whole downstairs of my house I decided that it might have been wise to buy the foam knee pads. Oh well, next time.

Re link exchange: I have added your site to my links on www.grubberbettingtips.com If you could add us to your links page that would be great.

Good luck with your trading adventures.

Alistair said...

Thanks for the comment.

Unfortunately, I can't create a link to your site as it doesn't appear to exist.

Anonymous said...

Dont be scared of the higher liquidity it makes it perfect for scalping the markets with large amounts. There's so much money in the markets that any trends generally follow through if you're looking for more ticks.

I managed around 3 times my usual profits yesterday and today's looking just as good

Alistair said...

Thanks for the advice. I think it's more of a psychological thing than anything else.

Because of the huge amounts of money and the apparent lack of movement, I cannot help but feel that I'm out of my depth. It doesn't help of course that the few races I've tried, I've lost. I simply do not have the confidence to stick more cash in there.

Not yet anyway.