Friday, 22 May 2009

Money to Burn part 2

I have set rules when i trade one of those being, "How much i am willing to lose" before saying enough is enough, Started off well taking £1.53, £2.08, £9.81, £1.09 and £0.92 total £15.43, great i thought i am on a roll, then i had £3.04 loss then £2.09 and finally £8.78 this was after i tried to reduce my liabilty, 3 losses in a row was enough for me so i called it quits almost, i was watching on betrader one of the irish races the liquidity was very low, around £67000 matched mostly on the favorite, i think it was only the 4th fav that was trading at 10's with about £1000 odd traded, when someone placed £2000 to lay at 10's this men he had a bank of more than £20k, this was about 2 minutes before off, i thought it may have been fake money but he left it there and around £800 was matched, by calulation this would mean he had a liabilty of £8000, clearly someone thought this horse was not going to win, so i laid it for £2 in-running for 9.4, with intention that if it was dropping to say 4's i would hedge it never went below 9's so i won £1.90 after tax.

so i ended the day on £3.37 profit.


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