A Little Knowledge Is A Dangerous Thing

What on Earth me, a proud Scotsman, think I can possible trade cricket? What the hell do we Scots know about such an alien sport?

From a trading perspective, I've been keen to broaden my horizons and having looked at a few cricket markets earlier in the year it was to me that there are excellent opportunities for catching significant swings.

Since Ashes started, I've been getting more and more actively involved - and producing bigger losses as I've gone along. Today was no exception.

As I've been looking at the markets, one of the things I have picked up on is the tendency (or so I thought) of the team fielding first, to drift as the match wore on. Based on this limited observation, I decided to lay Australia this morning at 2.6 for £100 and place smaller back bets at ever increasing odds in order to scalp a few pounds.

That worked well for about 10 mins, then it all went to pot.

With Australia taking two quick wickets, I was quickly looking at an ever decreasing odds figure and £84 red on the men from down under. Rather than jump ship, I decided to hang on, never expecting the ensuing England collapse over the next hour.

In order to retrieve the situation, I laid the Aussies at 1.34 for a liability of £100 looking to scalp a couple of tick and bring my red figure down a bit. Unfortunately, the market carried on moving against me and I wound up panicking and traded out at 1.10.

I'm now £107 red on the Australians and wondering how the hell I'm going to get out of this pickle short of praying for a flood of biblical proportions.

Like the title says, a little knowledge is indeed a dangerous thing.

To make matters worse, I had a very poor day on the dogs. I was down £23 after the first six races. It took me after 10pm to reduce my loss to a pathetic £9.00. Never mind, I did win some money on the Middlesbrough v Sheffield Utd match. I scalped the draw pre-KO and won 26p! LOL!

Now, come on England! Get your fingers out of your backsides!

And that's the last time you'll ever hear this Scot shouting for an England side to win any sport, never mind cricket.


PhilipH said...

As before, stick to the devil you know. And NEVER bet on any animal with only two legs!

Hope the sloppy England team can retrieve a hopeless-looking situation. What a shower! Geoff Boycott was fuming and flaming the England team on radio today - and rightly so.

Alistair said...

I've never liked being a one trick pony Phil. Jack of all trades, master of none. That's me.

A lesson learnt. I've nearly recovered the loss anyway so no big deal.