January 2010 Summary

It's that time again when I have to run through how well, or not, I've done in the month. The end of January already. It seems to have flown past.

Much of my trading this month has been dominated by my on going broadband issues. As I mentioned back in December, I'd decided to trade full time using Bettrader Evolution. I found this a frustrating experience as Evo was simply not happy with my reduced broadband speed. I'm not familiar with the underlying code, but it seemed to suck up what limited bandwidth my poor connection had to offer causing delays and freezes. In the end, I returned to Binarysoft BDI which is not suffering these issues.

To be honest, it was a pleasure getting back to the sleek interface that is BDI. It doesn't have some of the features of other products, such as multiple ladders, which I was getting used to within Evo, but I think it has the best ladder going. Perhaps that is because it is upside down. Something I've discussed previously and which, I believe, makes it easier for me to spot shortening prices.

Coupled to that, the on-going issues that Betfair have been having with their site and their API and it has been a difficult week. Fortunately, I've not been caught out by it, though it was close on a couple of occasions. It actually encouraged me to take a look at trading the horses on Betdaq.

Using their own trading application and playing with small stakes, I made a profit with only one losing race. It was hard going though. The markets would hardly move with, what I presume, Betdaq seeding the markets to make it appear there was more liquidity than there actually was. Many times my meagre £5 would be sitting all on its own at the front of the market and nothing behind it for a few ticks, yet it wouldn't get taken. A frustrating experience, which I doubt I'll be repeating.

With these various on-going issues, it is hardly surprising that I've had another poor month. Granted, the blame cannot, and is not, laid squarely at their door. The fact of the matter is that my trading performance has been poor for some time, through a lack of confidence, leading to smaller stakes, leading to smaller profits, leading to lack of confidence.

Still, I've earned more than perhaps I expected earlier in the month and enough to allow me to pay myself £200 from my BF account. Always a good thing when one can put some cash in one's pocket despite having a poor performance.

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

Greyhounds... £208.71
Horses... -£70.74
Soccer... £1.57

As you can see, the greyhounds continue to save my bacon each month. The horse trading loss is hardly surprising. I'm still struggling to make any angle on those pay. I just don't seem to find any rhyme or reason to the way they move.

The biggest disappointment is the soccer trading. I have a continuing conflict between the trader and the gambler in me. I've been trying a whole host of strategies, but I've yet to find one that I'm happy and confident with. I think the biggest thing I have difficulty with is identifying which strategy to use for any particular game. Mind you, if we could all identify that in advance, we'd all be rich.

As I move into my second anniversary month, I haven't made that many plans for my trading. A case of carrying on as I'm doing. At least I'm making a profit, albeit a lot smaller that I would have hoped.

I'll carry on trying the soccer markets. It would be nice to get something out of them in the run up to the World Cup in the summer.

Also, I haven't given up on doing something in the tennis markets. Although I had intended to get involved in the Australian Open, the time difference was simply too difficult for me to manage.

I've still to get my broadband issues resolved. That is a work in progress having just switched to BT. I'm seeing a little improvement, but I didn't expect much initially, particularly if the route cause of my problems lie, as I suspect, with the line itself. At least I now have more confidence that I'm dealing with someone who is in a position to get it resolved. Time will tell.

Thanks to you all for reading my ramblings and taking the time to comment. Always much appreciated even though I may occasionally forget to reply, for which I apologise.

Be lucky...

4 comments:

Taxilight said...

Can I ask what size you use to trade, also do you find the greyhounds good mkts to trade, is the liqudity good.do

Thx

Craig said...

Thanks for writing your "ramblings" - always informative to read.

Whilst you may think you have had a difficult month, you are still doing well on the greyhounds and with your internet connection getting sorted, you should be able to improve even more!

Plus, Rugby League is back now so if you fancy giving that a go... ;-)

The Real Moaner

Alistair said...

Taxilight: I use stakes ranging from £20 to £50 on the dogs, depending what the odds are. Liquidity is generally good outside the times that the horse racing is on. Evening greyhounds are very variable and frequently a waste of time.

Craig: Thanks for the comments. Rugby League is one of those many sports on the 'to do' list. Which reminds me...

I have a proposal if you'd like to nip into the chat room sometime, I'll be able to run it by you. I'm in most days.

Alternatively, if you're on Skype, put it in a comment (which I won't publish) and I'll get back to you.

Cheers

Andrew said...

Hi there,

I was wondering - I thought your Tennis Hedging strategy was 'blind' and didn't require you to stay up and watch the matches.

Why opt out of the AO if this is the case? Am I wrong?

Thanks :)