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.

When I went back to basics in order to get to grips with the horse win markets, I set myself the goal of making £50 per day by the end of the summer. I pleased to say that I've hit that profit level, or come very close, on a number of occasions this month which is very encouraging. That target should get easier to reach as I continue to increase the stake levels as my confidence and experience grows.

I'm so glad that I took the decision to completely abandon the greyhound markets. I have no doubt that the style of trading I used with the dogs, was hampering any attempts I made in the horse markets. It has taken a while to get that out of my system, but I feel I am now seeing the benefits of doing so. Long may it continue.

I also had a little dabble in the Twenty/20 cricket where I had a nice win after laying South Africa against Afghanistan @1.02 for £5000 and hedging out one tick higher. It would be nice to know that I could do that again, and on a regular basis, but I haven't tried since. :)

The football hasn't gone that well. I've not been trading but I had a few trixies earlier this month, as detailed in the forum. All of them failed miserably I'm sorry to say.

Speaking of football, you'll no doubt have heard that there is a World Cup tournament starting this month. I had hoped to get up to speed with some correct score trading, but I just haven't had the time to practise due to having all my attention on the horse racing. I really must get that sorted so that I have something to do during the dark winter evenings now that I'll be staying away from the dogs.

So much to do and learn, yet so little time.

There's a World Cup thread on the forum by the way, so if you want to jot down your thoughts, you'd be more than welcome.

I've no idea how the World Cup is going to effect the horse racing markets. I suspect the evening ones in particular will be very thin. I may have to tread carefully in the coming month, but here's to my continued development in those markets.


PhilipH said...

Hi Alistair; I lost track of your blog some months ago and couldn't remember what it was called! Old age no doubt causes these lapses.

Anyway, very glad to read that you have just about hit the £50 per diem target! Sounds good to me. I am somewhat surprised that you have ditched the dogs. That used to be your forté - although I never knew how you managed to win at that game. Still, keep punching away and have a great summer.

Philip H.

Alistair said...

Good to hear that you're still around Philip. I trust things are well with you.

I'm not consistently hitting the £50/day mark but hopefully it won't be too long now.

Giving up the greyhounds had been coming for a while if I was honest. Although I'd made a fair bit of cash trading the mutts, I had to spend many a long day in front of my computer to do so. Also, for quite sometime, I hadn't been enjoying them and I was struggling - in a chicken or egg type way.

There was never any future in trading the greyhounds if I ever wanted to increase the profit. The scalability just isn't there. So, it was good while it lasted, but it's better for me in terms of future profitability as well as reducing the hours I was putting in.

Now that you've 'found' the blog again, you have no excuse for being a stranger.

leonthefixer said...

Well done and good to hear things are on the up!


Alistair said...

Thanks as ever for the encouragement Leon.

It is certainly good to see some consistency coming my way. However, I'm under no illusions as to how much work still has to be done. A case of steady as she goes.

Robin said...

I am glad you have had a good month Alistair.

Your technique in the cricket will work well in the "Tennis markets" - you just need to seek out the right matches.

Good luck for June.


Alistair said...

Thanks Robin. I have looked at tennis in the past, but not in any great depth. I confess I get hacked of waiting for matches to start as the slip ever further from their schedule start time.

It's not a sport I particularly enjoy watching either, which puts me off trading it as well.

with me concentrating on getting my horse racing up to speed, it not likely a sport that I'll get involved with any time soon, but thanks for the suggestion anyway.