June 2010 Summary

Another month gone. They seem to be flying past at the moment, though they can zoom by all they like as long as I keep making money! :)

This month has been profitable, though I spoiled it a bit this past three days by throwing away some 10% of what I'd built up. I traded the horse markets like an absolute beginner this week. Not to worry. Progress is still being made and having built my stake up to £50 over the past few weeks, I'll keep it there for a while as I consolidate what I've learned.

Stop Press: FIFA Forced Into Change

After the furore caused by the poor decisions in today's games and the repeated calls for technology to be used, FIFA bow to pressure and change their ways, but refuse to go the full distance and meet everyone's demands, settling for a paintbrush instead!

Sepp Blatter is reputed to have said that FIFA was not insensitive to the wishes of players, coaching staff and fans alike but reiterated that football was a game of two halves - the haves and the have nots - and therefore it was impossible to implement technology at all levels and therefore the paintbrush was the best they could do, given the costs involved.

Dumb, Dumber And Just Plain Stupid Part 2

Do I really need to repeat myself?

You are an utter disgrace Mr Blatter and the sooner you resign from FIFA the better the industry will be.

Dumb, Dumber And Just Plain Stupid

I've just been watching Sky Sports News and revelling in the predicament that England find themselves in, when the presenters went through the various permutations. I didn't appreciate that a body such as FIFA, in the most prestigious sporting event anywhere in the world, could, under certain circumstances decide who continues in the competition by drawing lots. At least not without taking other things into account.

Bread And Butter

It's always nice to get back to the run of the mill everyday stuff after a big race meeting like Ascot. Those high profile meetings and the significantly higher liquidity levels always seem to cause me difficulties. Even the lesser meetings held over the same period seem to get a boost and I am almost always slow to adjust my trading to suit.

So to return a profit of over £50 from today's races is very welcome, especially since I was using a stake of £45. A pleasant, relaxing and of course, profitable day. I even got a mention on WH Radio, but that's a story for another day.

Hard At Work

I've been neglecting the blog of late due to the work I'm doing each evening as I investigate a new strategy. It is taking 1-2 hours each night to review the race cards for the following day, but the work is certainly showing that the strategy has great promise.

It's all on paper at the moment, though I have been putting small stakes in recently, and only for part of the strategy, and that is currently showing a 7 point profit. If the rest of the strategy holds for real as it is currently doing on paper then the results will be significantly better than that overall. Very early days of course and the test will be when I implement it for real for all elements of the plan.

Totally Underwhelmed

Call me a miserable old sod if you like, but this World Cup is boring me to tears. The garbage served up so far has completely put me off and I find myself sitting trading the horse markets instead.

I remember the last World Cup when I spent the whole month parked in front of the TV. I watched every game that year, except when the last group games were on and I had to choose between concurrently played matches. I wish I had been trading then.

Luck Of The Draw

Well, here we are again. The start of another World Cup Finals. I doubt that I'll be able to watch every game bar two like I managed four years ago. Still, it provides another opportunity for some father/son rivalry as Stuart and I divvy up the teams between us.

With money riding on each 'head to head' and that from any draw result thrown into the kitty to be picked up by the 'owner' of the tournament winners, there's a lot at stake.

Patience Is A Virtue

It can also be rather expensive at times!

One of the greatest stumbling blocks I have had to overcome while learning the horse win markets has been the need for patience. Being used to trading in the last 30-60 seconds of the greyhound markets, patience was not a quality that could be used to describe my trading style.

I've had to learn patience both in terms of waiting to enter the market as well as waiting to get out of the market.

Shoddy Saturday

My horse trading continues to progress in the right direction despite having a rather shoddy day today. I still made a profit, but I took some heavy losses along the way thanks to carelessness on my part.

As I've mentioned before, while I am getting to grips with these markets, I concentrate on spotting and backing runners that look as if they are about to shorten. I only ever lay an odds on favourite. In addition, I use the same stake irrespective of odds. Generally speaking, I tend to operate in the 4.00 - 15.00 odds range.

World Cup Woes

No, I'm not talking about England's latest crisis though it's no doubt not the last we'll here about Rio's training session injury. I feel for him anyway. Such a crap way to miss out on playing in a World Cup.

I was referring to my own private deliberations about the tournament and what to do from a trading point of view.

I'm going to take the opportunity to try out some basic correct score trading strategies in order to get some practice in for the 2010/11 domestic season. I need to expand my portfolio to give me something to trade the cold winter nights when there's no horse racing on. Football seems the obvious choice and it's something I've been putting off for far too long.