August 2009 Summary

Having reached £400 on Friday morning it was a little disappointing that I didn't have the opportunity to continue trading over the weekend. Still it was good to get away for a break.

I tried trading the greyhounds this evening but it was difficult with the lack of money around. In the past (last winter that is) I found Monday evenings to be very profitable. Not today though, particularly when my bet submissions suddenly started taking upwards of 5 seconds to reach the market, costing me nearly £14 in one race.

It transpired that my darling daughter, bless her, decided that that moment was an ideal time to send her pals some pictures via MSN. She is now scheduled to be burnt at the stake tomorrow at noon. LOL!

Joking aside, it is good to record another profitable month, especially when I lost a fair bit on the rounders, sorry, cricket. I also had some frustrating days trading the greyhounds, particularly the morning sessions which saw some erratic performances on my part.

Listed below are the totals for each market/sport I got involved in throughout the month:

Greyhounds... £389.07
Horses... £121.13
Soccer... £25.97
Cricket... -£123.02
Golf... -£19.25

As you can see, I tried to expand my portfolio this month with little success. Having said that, it is the cricket that has limited my profit this month. Two reasons for this. First, I went into a market that I know little about with too much money and secondly, I didn't have a clear exit strategy in mind.

I was following advice from more experienced cricket traders and I think even they were caught out by the speed of England's collapse in the 4th test.

The golf was a big disappointment having convinced myself that the price on Tiger Woods to win the US PGA was too low. Unfortunately, the market disagreed and his price kept coming in and my stop loss was met fairly early in the tournament. As we know, he lost in the last round and my assessment was proved to be correct. Frustrating therefore to come away with a loss.

Still, despite these losses, I shall continue to investigate both cricket and golf as the swings can be substantial. I just need to learn how to get on the right side of them.

Also, I've been dipping my toe back into the soccer pool now that the new season has started. I'm pleased with the small profit, though there is a long way to go. However, it's important to find some edge in these highly liquid markets as the dogs die a death when there's major football matches on. It makes sense to try and grab some of the action.

As regular readers will know, I hard a hard time on the horse win markets last month. After this experience, I decided to leave them alone for the time being. However, I found myself being drawn back to the horses and the place markets in particular. It's funny how I seem to have come a complete circle having started in those markets all those months ago with a measly tenner in my account.

With the place markets being very similar to the greyhound markets, I have found it very easy to switch between the two all afternoon. Of course, I cannot put huge bets in the place markets, but then, I am generally able to look for a greater number of ticks profit. Swings and roundabouts I guess.

So, a reasonable, if not spectacular £394 profit for the month and quite a few lessons learned and markets to investigate further. It will be interesting to see what September will bring.

As ever, many thanks to everyone who takes the time to read my ramblings and especially those that take the time to comment.


Craig said...

Well done on the profit, mate. It would have been even better if you would have looked into rugby league rather than cricket. :-)

Alistair said...

Very true Craig. I probably know a bit more about rugby than I do cricket, albeit from union rather than league. There just isn't enough time in the day.

I guess I've missed the boat for this year.

Thanks for the comment.