Thursday, 16 April 2009

Yesterday :(

Yesterday was a complete non-starter for me, I tried to pre race trade but in just about every race I was struggling, either with the entry and certainly the wrong exit.
In the 1st Race I traded I backed the selection for £60 at odds of 4.8 there was a lot of money in the queue on the back side and I felt confident of getting the 1 tick lay at 4.7 so I placed it I think there was only about £100 to lay at the odds, I was part match for £12.50 when the odds moved up to 5.0 with £1000’s pushing it up so I moved the remaining £47.50 up and took the loss, hedging as there were only seconds before the off taking a slight loss, next race was worse I placed a back in at various odds never to be matched as the odds dropped, I would following trying to get on the drift like every one else, I gave up on that one, next race another part matched bet and the odds go against me, I wait hopping that they will come in again, nope so its another loss.

It was like this most of the afternoon session, taking losses of £0.50 to £2.10 and the odd win of the same amounts, the final straw was I backed a selection for £60 at odds of 6.0, then placed the lay at 5.9 by the time the lay was in the odds had gone up to 6.4 so I placed the lay and took the loss as the odds continued upwards, only this time I didn’t spread the loss had the horse won then it was -£24 if I spread the loss over the current odds then it would be -£3.75, guess what happened, yep the horse won and that was enough for me for the day.

Total P/L Was -£33.78

So not a happy bunny, for 2 counts
1 The markets were not behaving in the way I wanted  if I had a bigger bank I guess I could have started out with lays then backed at higher odds as it was obvious once I had opened the trade and it reversed where it was going.

2. Letting a -£24 liabilty run.

So in conclusion … what to do, well try try and try again, although I did a lot better in play trading using smaller liabilites and taking more profit so I may well do a week or when I have time of just that, see early post I’ll back a selection for £2, £3 or £4 and look to lay it off at lower odds usually the 1st, 2nd 3rd or 4th fav depending on how they are running.


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