50% Isn't Good Enough

Some time ago I posted details of how to install and run Fairbot in a Linux environment. I'd never actually used it in anger. Due to the poor run I've been on of late I had intended to reduce my stake today, so today I took the opportunity to use Fairbot at the same time.

I cannot say I was any more successful using Fairbot than any other application. I used £50 stakes yet still managed to lose £26.

As for the software, I found it OK. There's some things I did not like about it, but much of that would be lack of familiarity with the application and the differences between it and my normal application, Binarysoft BDI. However, despite its rather out-of-date look and feel it does what it says on the tin. The fact that it can run on Linux, albeit under Wine, makes it a strong candidate for future use.

Irrespective of the application, it was another very poor day on the nags for me, my third losing day in a row and my fifth out of ten trading days in March. That sort of performance just doesn't cut it. Half way through the month and I'm over £100 in the red.

I'm really struggling to come to terms with the horse markets at the moment and it appears that my optimistic posts last weekend were somewhat premature. Indeed, the greyhounds and football are also running at a loss, but I feel it is with the horses that the money lies, which is why I keep going back to them.

Obviously, there's many more markets and sports in which money can be made, but, they require knowledge of the sport and frequently need live pictures. I have neither.

The main reason I am attracted to the pre-race markets is the complete absence of any need to have these things. Sure they may help, but they are not pre-requisites. To this day, I know nothing of horse or greyhound racing. Trading pre-race is a matter of assessing the way the market is flowing. While I've never been good at assessing the horse win markets, I used to be able to manage quite well with the dogs. In recent times though, that has been pretty hopeless as well.

I'm not really sure where I go from here. To be honest, I'm of a mind simply to write this month off, much as that pains me since that would mean my first ever losing month. I'm not sure what I want to do at the moment, and that in itself is half the problem.

9 comments:

Anonymous said...

Im not surprised you dont make any money,you are too preoccupied with your ISP or your phone line and next door phone line or the bloke that must have damaged your cables when laying loft insulation.
For goodness sake get stuck in and stop moaning.Excuse after excuse.
This is not abusive btw,it is maybe the kick up the arse you need.
Good luck
Danny.

Alistair said...

Thanks ever so much for your 'constructive' comments Danny. I'm not sure where you get the idea that I have never made any money.

This blog has always been intended as a vehicle to get things off my chest, vent my frustrations irrespective of the topic, and generally let me be a grumpy old man. Consequently, I'll bloody moan if I want.

No one is asking you to read it.

Anonymous said...

Thanks for the "Constructive response"
Get a grip.
Danny

Anonymous said...

Ive just clicked on your profile and i now realise where the chip on your shoulder comes from.
I wont bother you again.
Danny

Alistair said...

So much for not being abusive!

Anonymous said...

As i said its maybe the "kick up the arse you need"It was meant to be constructive,you seem to spend so much time explain why you cant do,to actuallt "do it"
You started being abusive by saying i dont have to read it.
Hardly friendly.
Danny

Alistair said...

The phrase I used was, 'No one is asking you to read it'. That is hardly abusive, merely a statement of fact.

The abuse was clearly instigated by your good self with your reference to my profile.

Anonymous said...

I have just come across your blog. It is very interesting. Being fairly new to trading I use Gruss and am quite pleased with it. Can I ask what your experience has been with Binarysoft?

I use Gruss on the recommendation of a neighbour who is successful in this area. Wish I was. He uses a very strict stop loss approach, but if a trade is going against him he is able to trade out of the situation most times. An acquired skill I think. He does not use fancy indicatiors as such, just the basic Gruss screen which he can interpret easily; mind you he has been trading for a number of years.

Anyway I am waffling on. Sorry but am interested to know about Binarysoft.

Take care

Alistair said...

Hi Anonymous. Thanks for the comment.

Unfortunately, Binarysoft is now longer available. Hasn't been for nearly two years. My understanding was that it was sold to a private buyer with the condition that it was never to be made commercially available. A great pity in my view.

If you're happy with Gruss, then I'd just stick with it.

Alistair