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.

As a result, it is inevitable that the number of posts will be somewhat less compared with previous months.

Having said that, it has been a while since I posted an update of my horse trading progress.

After my enforced lay off, I've spent much of this week slowing getting back into the swing of things. It was a bit of a struggle in the afternoons where, in the first half of the week, I kept losing, but I'd claw it back in the evening. I didn't make much because of this, but I didn't lose any either.

The latter half of the week has seen steady improvement culminating in a near £70 return for today's efforts. It's been a while since I posted something like that. I'm very chuffed with that considering I was using stakes of £35 today.

Over the past two days, I've made over £100 and been very happy with my trading. I'm still making lots of mistakes and missing even more opportunities but at least things seem to be pointing in the right direction.

Since I started again with £10 stakes back in April, I've been slowly increasing the money I use in the market. It's all been about building confidence and not the money. I'm slowly getting rid of the Greyhound markets style I was using and doing things differently with the horses. It seems to be paying off.

I'm concentrating solely on finding runners that are, ideally, about to start coming in. The only time I lay first is when there's a short priced favourite, otherwise I'm playing with the less fancied horses - usually above odds of 5.00 out to 15.0ish, though I will try higher odds if I see an opportunity.

At the moment, I do not vary my stake based on the odds. Once my staking levels increase significantly, then obviously this may very well change. The one thing I am wary of is developing a trading style now, while using relatively small stakes, that may not work when the stakes increase. For the moment, I think there's plenty of liquidity in the market to carry on what I'm doing even if my stakes were to double.

I'm a little away from that point. For now, I just need to continue with what I'm doing.


Millionaire Fund said...

Well done Al, don't underestimate the acheivement you're making in gaining those profits from the stakes you're using.

I'd be happy, and I'm sure most traders would be, to get that sort of return. You need to capitalise on that by looking at what you did right to try and recreate that on a regular basis. It's wasn't just luck there are definate reasons why you managed to win on those days. I traded them and nothing out of the ordinary happened so it wasn't a lucky streak where the 'moons' fell into place, you acheived that so therefore you can acheive it again. Remember luck isn't part of a traders armoury by nature we'll close out too early when it's on our side and too late when it isn't.

Handy Andy said...

It's a great achievement keeping this blog going for over two years. I didn't realise until I started mine how much time it really takes to maintain. I can appreciate that after all this time it is difficult to add to it every day but don't give up because you have many people like me that enjoy following it. I would rather see you post once a week than never again.

You used to have your monthly results displayed and was curious as to why you decided to take it out. I think it's a good idea to have your results displayed as it gives an instant gauge to the readers as to your overall performance, especially the one's that land on your page for the first time.


Alistair said...

Thanks for the support MF. I'm obviously very pleased with the way things are coming along, but there's much work still to be done. Yesterday's result was exceptional, but clearly shows what can be achieved. I just need to keep doing what I'm doing. Keep building the confidence and experience and I'm sure I'll get there.

A month or so ago, I set myself the very realistic target of making £50 per day from the horses. Clearly, as recent results have indicated, that target is very achievable.

Handy Andy, I've currently no intention of giving up the blog but it's nice to get feedback and encouragement from those that read it. Looking at my account details, it seems I have over 180 subscribers to my ramblings, so I must be doing something right.

As for posting monthly results, I took them down primarily for personal reasons, I didn't want those figures being read by certain people who shall remain nameless.

Posting those figures had effectively served its purpose in providing a public record and aiding me in maintaining and controlling my discipline while simultaneously demonstrating what could be achieved from a £10 bank.

I appreciate your point regarding them as an instant gauge of my performance, particularly for newcomers to the blog. This might be of use if I was selling something, but as I'm not, publishing my earnings serves no real purpose. Readers will always get a general idea of how I am doing simply by reading the blog. Alternatively, they could visit the chat room where much cheering and cursing goes on throughout the daily trading sessions. :)

Thanks for taking the time to comment chaps.