April 2010 Summary

It has been an interesting and rewarding month for me, not just because I returned to profit after suffering my first ever losing month back in March, though obviously that helped.

I hadn't been enjoying trading that much for quite sometime as regular readers may have gathered from my regular postings. This culminated in last months loss, but in turn, that loss served as a catalyst for change. Change that was long overdue and very much needed.

Some People Shouldn't Be Allowed Near A Football Pitch

I've just come across this on Youtube.

If ever there was a case for banning a player for life, then this must be it. As for the referee...

Self-fulfilling Prophecy

If you were to go to see a lawyer, or a tax consultant, or some other guru in a particular field of expertise, you would do so for a reason would you not?

Having been advised by an expert, what would your reaction be? Would you take their advice and act upon it or would you ignore them or worse, tell them that they were talking rubbish? Would you, despite all the evidence they present before you, say that what you are being advised wouldn't work, couldn't work, doesn't work?

That Magic System

It seems to me that there are far to many people entering this field, trading or gambling, who want, if not expect, it to be a short cut to untold wealth. They seem to want experienced traders/punters to tell them what to do and constantly hold their hand without doing any of the really hard graft required to become successful.

I'm sorry to say boys and girls, that such a magic system does not exist. Indeed, any successful trader or gambler wouldn't, in their right mind, divulge the details of such a system if they had one in their possession. That doesn't stop many people trying of course.

Forum And Blog Changes

The forum is starting to fill up nicely with some interesting posts and I'd like to take this opportunity to thank those who have been taking the time to contribute. Very much appreciated.

With the increase use, it is clear that some areas are more popular than others so this morning I've spent a little time reorganising it so that the popular sub-forums are towards the top of the list to save you having to scroll the page so much. I've also increased the number of recent topics listed for those forums so that you can see at a glance what has been changed.

My First Linux Crash

For the first time in nearly three years, my Linux box crashed. Actually, that headline is misleading as my problems yesterday where hardware related rather than Linux related and left me with a system that wouldn't boot into it's operating system.

I bought the base unit on eBay nearly three years ago, and it has always had issues with overheating. As a result, I've run it with the side panel off all that time.

Having recently cleared my desk in preparation for a dual monitor set up, yesterday morning I turned my attention to underneath the desk. I tidied up all the cabling, dusted off the cobwebs from inside the computer (it's amazing the crap that collects in there especially if you have your computer sitting on the floor) and installed a new case fan. With a new fan in place I chose to put the side panel back on.

A Long Week

It certainly has been a long week this week, and in stark contrast to the one that went before. Not that it hasn't been without it's highlights. Still, I'm glad it's over.

I've had one solitary winning day on the horses this week which has seen me drastically reduce my stakes in order to limit the damage being done. I'm still comfortably in profit but I could certainly do without runs like that. My confidence and mental strength has been sorely tested but I'm happy to say I've managed to keep the toys in the pram - for the most part anyway. :)

I haven't done one for a while, but those of you who visit the forum may have noticed I landed a little football trixie today which saw a return of a few pennies over 5/1. That helped to make up for much of the losses on the horses.

Back in the saddle tomorrow, but in the meantime, I'm off to catch up on the F1 qualifying that I recorded earlier.

Is Betfair Any Good At Tipping Horses?

I'm sure you are aware of the many promotional offers that Betfair have been running for some time now. They have a selection of horse racing ones during the week, and today's was one of the easiest:

Tuesday 13th April - £10 CASH BACK if our favourite loses!

We've chosen a favourite for today's racing but if we get it wrong, we'll give you £10 cash back! To take part in this promotion, opt–in here and enter the bonus code "MIDWEEK MANIA 15".

Stop Press - Wheels Fall Off Trolley!

After an excellent day on Saturday, the 'New Old Plan' has hit a bit of a wobble with £45 lost over the past few days.

Yesterday's loss was almost wholly due entering the first race I looked at far too soon, with too much money. Not surprisingly, it went against me and everything I did to retrieve the loss only made it worse.

McCoy Wins The National

Congratulations to Tony McCoy for finally winning the World's greatest horse race... and for winning me £47.50!

Like many families up and down the country, it has always been a tradition to have a family flutter on the big race and this year was no exception. I offered my daughter and son a fiver each to be split over two horses. My son didn't get back to me in time, but my daughter went for 'Hello Bud' and 'Beat The Boys' while I went for 'Snowy Morning' and 'Don't Push It'.

Oh Danny Boy...

... the pipes, the pipes are calling.

Does anyone remember this?

Danny, my number one fan, once promised not to bother me again after I told him I'd do what I want on my own blog. Despite this promise he has since sent numerous abusive and foul-mouthed comments. It doesn't seem to have registered in his immature brain that such comments will not be published.

First Target Achieved

Having started from scratch in the horse markets at the beginning of the month, I'm pleased to say that I've turned my initial stake of £10 into £57 over the past six trading days. Now that the stake has past £50, I ring fence the initial £10 so that the stake drops back to £47 for my next trading day.

This ring fencing is something I did when I first implemented this compounding technique way back when I started. It's simply there to protect my initial investment should I have a major lapse and lose my stake.

BinarySoft Does It Again

Apologies for the lack of posts over the past few days. I've been trying to sort out these missing comments and, as you may have seen, had to revert everything back to what it was, thanks to Google Blogger. I'm a bit hacked off with it. Anyway...

Little did I expect I'd be talking about the Binarysoft ladder in a two horse race so soon after discussing it last week.

Website Changes

UPDATE 5 APR: DUE TO AN ON-GOING ISSUE ON GOOGLE BLOGGER, AND UNBEKNOWN TO ME AT THE TIME OF THE CHANGE, WHICH CAUSES ALL EXISTING COMMENTS TO DISAPPEAR WHEN SWITCHING TO A CUSTOM DOMAIN, I'VE HAD TO RESET EVERYTHING TO THE WAY IT WAS. GOOGLE CURRENTLY DO NOT HAVE A FIX FOR THIS PROBLEM. CONSEQUENTLY THE BLOG URL WILL REMAIN AS BETYOURLIFE.BLOGSPOT.COM.

APOLOGIES FOR ANY INCONVENIENCE CAUSED.

A New Old Plan

As I mentioned yesterday, over recent days I have had cause to revisit some of the older posts on the Bet Your Life blog. I've found this most helpful and found myself rethinking my approach to trading, why I'm trading and what I want to get out of it.

That will be an ongoing process but one thing I have decided to do is return to basics, particularly when it comes to trading the horse race win markets. Over recent months, I've made no secret of the fact that I've struggled to make any significant headway in these markets. So much so, that I feel a different approach is required.