Cash Giveaway!

I thought I'd try and attract the attention of other traders and punters out there and let them know that I do have money in the markets sometimes and it would be good, if occasionally, someone actually took it!

I've had a quiet Tuesday/Wednesday, partly because I wasn't feeling great, but mainly due to the aforementioned problem. In the thinner greyhound and horse place markets I tend to offer prices rather than jumping ahead of the market. It's been frustrating recently as the market has had an annoying habit of coming right up to my money sitting near the front of the queue, if not at the front, then retreat without taking any of it.

I try not to chase a price if I can help it. While I appreciate that it is possible to still grab some profit, I've been bitten too many times chasing a price to the point that the value has gone and the market reverses, leaving me staring an all red screen in the face. So with all these bets coming within one tick of being matched, it meant that profit hasn't been as good as I would have liked. Still, profit I have had and that is what matters.

Today was better and back on track with what I have been achieving of late.

I spent the morning with a client, so I missed all but the last 2 greyhound races. It was really the horse racing I was interested in this afternoon and wound up with a £55 profit and no losses excluding a -£0.02 'scratched' trade. I added a little more from two races in the evening, but I stopped at 7pm delighted with today's efforts.

I managed to scrape a small profit in a few of the early evening dog races to take my total for the day over £60 and keep the month ticking along very nicely thank you. If I can keep this level of consistency throughout the rest of the month, I'll be a very happy chappy.


Steve said...

It's all about consistency Al, if you look at your pnl for October it's almost matching the last two months after a little over a week. Keep up this rate and you'll be passing your March/Dec levels for the month.

It's frustrating seeing offers go unmatched but it's about winning trades not matched trades so don't feel the need to get involved or chase markets just for the hell of it. I place lots of offers into the market and plenty go unmatched but the ones I get matched are usually at prices I want as my starting point.

Whatever you're doing at the moment seems to be working so don't go changing things just to feel more active in the market.

makingasplash2009 said...

Hi Alistair,

I have the same problem with getting matched when i am near the front of the queue. I usually get pence matched then it just goes in the direction i wanted it to but without my money on it. Been caught out chasing a price too many times to mention but that's life i guess.

It doesn't seem to be affecting your monthly totals though.

Whatever you're doing, keep it up.

All the best.


Anonymous said...

Took a while to get past the first sentence through laughing. Great post Alistair.

Alistair said...

Hi chaps and thanks for the comments.

As you say Steve, consistency is the key and it is great that I seem to have found some after my struggles in recent months.

Very early days, but it is looking promising. Of course, this issue of mindset and confidence is so dependent on returns and vice versa. This profitable streak has helped no end in settling my doubts and I've been more comfortable with my trading in the past two weeks than I have been for some time.

Long may it continue.

devils_x said...

Weldone Alistair!!

Keep up the good work:)

.Igor said...

Hallo Alistair

What is your dayli goal,or maybe weeckly?
Where can i found text about discipline?

Thx and GL

Alistair said...

Thanks for the comment devils_x

Igor, I do not set hard and fast goals. I have a rough idea what would be a 'good result' in a day, but I do not specifically aim for it. I'm happy getting a profit.

As for articles about discipline, I don't have any if memory serves me correctly, though littered throughout the blog are posts that touch on the subject to a greater or lesser degree.

Sorry I cannot be more specific.