Thats it for a little while

Well today was my last day of trading for a couple of weeks as i go on Holiday tommorow until July 1st, i had another good day but feel it could have been better, especially the evening races as i found either the API to which betrader connects to betfair to be lagging, i'd place a bet and it would take an age to place it, so instead of getting 2 or even 3 trades per race i had to settle for 1, i upped the stakes today to £25/45 deepnding on odds but mostly it was £35 stakes i lost in 2 races including one of £3.53, my best 2 trades were in the afternoon, i managed to find 2 drifters and place several trades on the way up.

I only traded 20 races, as i had the day off to sort out packing/buying clothes for my daughter etc.

question for you, trading is it gambling? as gambers they are looking for the winner or loser as in the case of laying, as traders we are looking to nick ££ as we are not looking for winners or loser, i tried explaining the concept to my brother inlaw who bets but only yankees/super yankees/placepots etc, but he couldnt get his head around it all,but then he is also computer illiterate.


so thats it for now, see you in a few weeks.

cheers
Ron

A great Gamble

No trading yesterday, spent a great day in chester.
Good day today, pulled in £73.91 from 28 races, losing in 3 of them, i was also on one of the best "steamers" i have come across, i had betfair radio on and they were talking about the gamble going on a selection i had just backed at 12.00 for £30, much to my delight the more the commentors talked about the faster and lower its odds went, i put the lay in at 7.4 wish iahd held out as it went all the way down to 5.2, I hedged out for a very nice profit if only they were all like that, all my other trades were for small stakes of £20/30 depending on odds, i may increase these to £25/40 again depending on odds.

I am very pleased with my disipline at the moment, i hedge out for profit or loss as soon as both sides are matched, then look to continue, so if i place a lay in at 9.0 and a back in at 9.2/4 i hedge this loss, then look to trade again it may increase the loss or it may cut out the loss either way i have a daily "acceptable loss" of £25, if that is breached i stop.

i have taken this from another blog and it is good advice.

"Control the losses and the profits will take care of themselves"


cheers
Ron

Using small stakes

I have put up the above images to show that profits can be made using small stakes of £30, i found the selections i traded on relatively pain free in that i read the market, this allowed me to make a profit of £7 on this race alone, this was one of the best trades of the day, i lost on 3 markets for a total of £3.42 but won on all others except 1 where i scratched for a net £0. total profit was £54.21
Cheers
Ron

Taking a loss.

I have posted up a picture of a loss i took this evening not a massive one but a loss none the same, i had backed this selection for £30 at 8.8 but the odds shot up, i hedged out for a £1.90 loss across all runners, had i held my nerve as you will the odds had come down to 6.8.. so i missed out, but my point is i ma willing to take losses before they get too big, i didnt think the it would drop in odds.. hey ho it was my only loss, I have posted this image as there are other blogs out there saying how people never post videos/images shoing losses, this was in response to another blogger who has given up, after placing either a back or a lay seconds before the off then being unable to get "get out in-running" losing some £200+ he then placed the remainder of his bank on an odds on fav in a 4 horse race (£175) hoping to get some of his money back, sadly the horse lost, crazy as that was just gambling, if i am trading i try not to place anything with a minute to go.

anyway an interesting read here http://www.punt.com/2009/06/another-one-bites.html#comments


i only traded on 12 markets 11 wins 1 loss for a profit of £20.02, i seemed to struggle this evening with Betrader it seemed so slow and unresponsive, again i was working on the 3rd,4th,5th or 6th fav depending on odds and found 1 drifter :)

Yesterday was interesting, i cannot recal which race it was but there was a faller in the later stages of a flat race, i was monitoring the odds in relation to At the races when one of the leading horses had £4000+ to lay at daft odds, some was matched when all of a sudden the odds shoot skywards, it was then that the commentry said there was in fact a faller, it seems really fast pictures does indeed work... by a good 4 to 6seconds.


Cheers for now
Ron

Trading styles

I have revamped my style of trading, i no longer look at the fav its just too much up and down for me, so instead i now work on the 3rd/4th/5th fav depending on odds, i find it suits me as i can see most times which way the market is moving, caught a drifter today laid at 9.2 for £25 and backed at 15.5 for a nice profit hedging for £9 odd but it could have course gone the other way, in which case i would have backed at 9.2 or 9.0, Really trying stay focussed and disiplined after last weeks 4 days loss on the trot.

Todays P/L was £44.21, no evening races though as i had company

Cheers
Ron

A fortunate evening

Started off well this evening taking small profts in the 1st 3 races i traded on, of £2.97, £1.24 and £3.87, great i thought next race which was the 18.50 at pontefract i laid Shibhan for £50 at odds of 6.6, this was with about 20seconds before the off, i hadnt realised the time Doh !!!!!!!!!! and as i was about to put a back bet in which would have seen me take a loss, the Laptop screen went blank, Oh my god i thought (well it was more than that) i had not plugged in the charger and the power in the battery had gone to zero, which i didnt notice either, by the time i had the power in and the laptop up and running so was the race, but it was trading at 30's i was just about to hedge at those odds when it hit the 100's, sod it i thought let it run it duly lost and i profited by £47.50, i was lucky i guess as it could have gone either way :) but after my 4 days of losses i was happy to take it, the rest of the evening Trdaing, scalping 1 tick or 2 ending the day with £76.80 but take away the "lay" bet and it means my trading was £29.30 from 12 races traded, biggest win was £8.27 and lowest was 0.01p
But i have learned a new lesson, Check the power before i commence, i have a ups to back up my wifi modem in the event of a power cut... just 1 more check.

Cheers
Ron

A run of losses

I have just had my worse run of losses, 4 days on the trot :( i have set goals as to losing days, i dont set levels for profit, i am happy to take a £1 to £100 profit, but my levels for losses are -£25, guess what i have hit that on 4 days running, meaning i am down £100+ it also means my bank is low, very !! so will need topping up.
How did i end up making these losses, well poor disipline, you know you lay x for £x waiting for the price to rise, but it drops and you sit there watching it go from a £1.50 loss to £3, £7, £12.90 hoping it will rise, but it does'nt so you hedge out at £18.78, i am annoyed with my self as the losses incurred could have been so much smaller and because i hit my loss limits, i stopped if they had been smaller losses i could have at least tried to "stay" in the zone.

Hey ho
theres always later on and tommorow.

Cheers
Ron

BetAngel WOW.

Firstly sorry for lack of updates, i have had a torrid time lately my central heating packed up, whilst it is now summer and warm, i still need hot water and it has cost me a fair few £1000 to have it all replaced, i am also off on Holiday to Florida 2 weeks today so i have had to pay up for that too, this has resulted me in exhausting most of my "spare" cash including profits i have racked up the last few weeks/months on betfair, my bank is somewhat reduced.

I have also in the last week secured a trial with Bet Angel, boy am i impressed the new version is simple to use, the stop loss feature is a snip, as is the take profit which hightlights to the left of the ladder, infact i found using the ladder function made my reading of the markets easier, i even traded greyhounds using modest stakes because i was trialing it of £2-£25, in the greyhound markets in the last 3 to 2 minutes the odds move sharp on the fav/2nd fav i found i could get in and out taking profits or cutting out with small loses, i like to use the "force" reverse function but sadly my trial runs out in 2 days, i will be using it again by buying a subscription but only when i return from my Holiday in 4 weeks,
The only thing i wold like to have in betangel is when in ladder mode that all runners are odds are seen, rather than just the top 3.

I will continue using RacingTraders as i still have 1400minutes left, the RacingTraders software is good too and would recommend it as well.

Cheers
Ron


Cheers
Ron