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.

Looking back over my results of the past few weeks, I am averaging a daily return of nearly 60% of my stake level for each corresponding day. Indeed, I am frequently getting over 100% or pretty damn close. I will be a very happy chappie if I can maintain that sort of daily return as my stake grows.

There's still the odd blip in that. Wednesdays for example, always seem to cause me bother. I haven't identified why as yet. I certainly seem to find the markets jumpier than usual. Perhaps that is just my imagination.

Saturdays also seem to be more difficult for me, probably because of the greater liquidity compared to midweek. I certainly find the evening meetings more predictable in general, again, possibly for reasons of liquidity. That is not to say that I'm having a bad time of it during the afternoon meetings. Far from it. I simply seem to struggle that bit more during that time. Something to keep working on.

One thing is for sure, although I am still making mistakes on a trade by trade basis, they are becoming less frequent (though I still have my moments) but they tend to cost significantly more per race than I win. That's something I'm working hard on to rectify. Having said that, I'm clearly becoming a lot more consistent. Since the 1st May, I've had only 5 losing days, barely costing £45. That's less than a tenth of the profit I've made in the same period.

I'm continuing to slowly increase my stake size, which is currently at £45. Assuming things go well over the next 2-3 days, that will be going up. As it does so, I fully expect to see the profit increase as well.


PhilipH said...

Well Alistair, that's a ROI that augurs well. Keep it going!

On Friday I glanced down the list of runners for the Oaks and rang my daughter about Snow Fairy. She is a self-taught sculptress in polymer clay and makes little 'faeries' that sell for £200 to £500 (none are bigger than 6 inches high!). So I told her of Snow Fairy and she had small punt on it, and she took 14-1. I followed suit. Next day I decided to back Ryan Moore's mount in the Derby and once again he rode THE most brilliant race!

Sheer luck on my part; no research or form or anything, just pure luck. That's the way it goes, eh?

Alistair said...

Indeed Philip, I'll be quite happy to maintain that sort of return. Cheers.

As for luck on your part... think of it as inspired. :)