Practice, Practice, Practice

My horse lay/back system didn't flag up anything of interest yesterday, so I took the opportunity to exercise my sudden, new found enthusiasm for learning to trade football. I spent Sunday wading through a total of 13 football matches. Strangely enough, I was employing an idea of my own, rather than the strategies I mentioned in my previous post and available at Betting System Notes - I'm still reading through them all.

I was only paper trading this idea, watching the markets and getting a feel for how the odds move and whether or not the strategy is viable. The strategy looks to be in and out before half time, with the second half available for damage limitation if things go wrong.

In a way, I was disappointed with the results as ten out of the thirteen went to plan. That might seem a strange thing to say, since, it appears from yesterday's very small sample, that, in principle, the strategy is sound. This is a good thing of course. However, the most important skill in being a trader is the ability to limit losses and this requires skills that can only be acquired through luck or practice. I prefer the latter.

So, with only three of those needing damage limitation measures, the day proved a little less frantic than I had hoped. In the end, I managed to limit losses to around £6 in each case and would have secured a decent profit for the day, on paper at least.

So, this particular strategy seems to be promising. I just need to practice the process of reducing liabilities when things go wrong and adjust according.

1 comment:

Anonymous said...

Hi Al,
Just a flying visit. I cant seem to find your email add.
I had a guide sale through from your link but I need your paypal address to send your cut :-)
Paul(tradeshark)