May 2010 Summary

Another month has come and gone and it's that time again for yet another summary of what's been happening in my world of sports trading.

To cut a long story short, it's been a good month. My staking in the horse markets has been slowly and steadily increasing as the profits have been coming in on a regular and consistent basis. As a measure of that consistency, I had only 5 losing days in the 28 that I traded the horses, and those days only cost me £44. So I'm very happy with the way the month has gone and how the horse win markets are progressing.

Back To School

I guess the lesson I supposedly learned yesterday didn't sink in. I need to go back and relearn that lesson in an attempt to avoid the mistakes I made today.

I traded like a complete beginner today. I managed one really good trade early on then immediately embarked on a seven race losing streak that quickly saw me well into the red. While I had the odd profitable race after that, they were for very small amounts and the big losses kept coming. I attempted twenty six races today and lost 14 of them!

I found the markets particularly unpredictable today, as the loss I incurred indicates. The winning run that I was on was bound to come to an end sometime and I'll get today's loss back again soon enough.

A Lesson In Complacency

I've been fortunate to be on a pretty decent run of late. Indeed, it has been twelve days since I had a losing day. It is very easy therefore to become complacent when on such a run, so today's performance came as a sharp reminder to watch my discipline and remain focussed.

Right from the off this afternoon, I felt that today was going to be difficult simply because I was giving away, or at least reducing, far too many green positions. Although I was building up profit, it was a lot slower than it should've been if I'd not been so careless.

Coming Along Nicely

I'm afraid I've been neglecting the blog recently. A combination of not having much to say and just too tired to say it. I'm still suffering from the after effects of that bug I had last week. I spent an hour doing a spot of gardening this morning and I was absolutely knackered. I had to have a snooze before the horse racing started! :)

It's amazing how quickly a blog loses hits when the posts aren't being made. It's getting more and more difficult to think of things to write about. As you know, I've recently 'started again' in order to get up to speed with the horse win markets, but I don't simply want to post daily updates as I did when I first started the blog. That was designed to help me maintain my discipline, something I've had under control for a while now.

Not All That It Is Cracked Up To Be

Fortunately, I'm now on the mend from my illness last week. It's been a while since I've had a bug like that. It completely knocked me for six. Although it caused an enforced absence from the trading, the break was welcome.

I've never made any claims that trading the sports markets was anything other than a hobby for me. This past week has served to reinforce that belief. Being unable to trade when my livelihood depended on it would be an unwelcome worry. Being self-employed, I already have that stress. I don't get 'sick leave' from my clients. I cannot pull a 'sicky' when I cannot be bothered to go into work. If I don't go, I don't get paid.

Man Flu

I don't know how many times I've told myself not to trade when ill, but I still do it, and lose. Yesterday was no exception. I'd been feeling increasingly groggy over the weekend and having forced myself to visit a client yesterday, I really should've spent the afternoon in bed. It's so boring doing so though, so I traded and paid the price. Nothing significant as I'm still on relatively low stakes and no harm was done.

I'll be taking today off though as I'm not feeling any better.

A Nice Little Win To End The Day

I thought I'd try scalping the 20/20 World Cup match between Afghanistan and South Africa this evening. An interesting exercise given that, as a Scot, I know nothing about cricket. That in itself is an interesting point about trading. One doesn't necessarily need to know anything about a particular market in order to trade it.

Horse racing is a case in point, with me anyway. I don't know one end of a horse from another. Having said that, I know a heck of a lot more than I did a few years ago.

Very Tense At The Bottom Of SPL

With two games to play, and the bottom two clubs, Kilmarnock and Falkirk, tied on 29 points, the end of the season at the bottom of the Scottish Premier League is extremely tense. Third bottom, St Mirren are safe even though they are only 4 points clear of the other two. Why? Because Falkirk and Kilmarnock play each other on the very last day and both have significantly worse goal difference.

Tonight's matches are absolutely crucial for both sides.