Who's A Silly Billy?

I upped my stake level today by another 10% as I have been making steady progress recently, even though I'm still putting in some very poor trades. In the end, if I'm making more money than I'm losing, then I'm happy. As long as the larger stakes doesn't screw things up of course. An increase of 10% shouldn't cause to much of a problem.

Today was slow and steady, rather than dramatic. Although I found the afternoon session quite difficult compared to the evening racing (seems quite common for me) I still managed to build some profit. Once the evening racing came along, progress picked up, until the 7:30 at Hamilton, as can be seen in the graph below.

I first opened a position on 'Fantastic Strike' only to be caught by a sudden jump which saw me lose over £4. I then switched to 'Orpen Arms' and was caught again by a sudden reversal, this time to the tune of £7. I then compounded my mistakes by going in again, this time on 'Colonel Mak'. Blow me, did I not get caught by a third jump which cost me £10.

In the space of four minutes I contrived to wipe out all my profit for the day, finishing with a loss of £2. A 'silly billy' indeed (and yes, I'm old enough to remember Denis Healey). I'm not sure what I did to deserve that - apart from the obvious poor trading of course.

No damage done on the day of course, but it is annoying throwing away profit all the time. Whether I do that on a race by race basis, or look at it over a longer time frame, it's frustrating and annoying. Still, all part of the learning process. Plenty races tomorrow to get it back.


Anthony said...

I don't know why Alistair but I also find the evenings alot easier than the daytime. If I could make in the day what I make in the evenings I'd be a happy man. I think the markets maybe a bit slower and therefore easier to react to.

Alistair said...

Hi Anthony,

I've just had another day were the afternoon session let me down and my time in the evening was spent recovering the situation rather than making money.

Frustrating, but hopefully it will fall into place sooner rather than later.