Friday, 31 July 2009

When is a Stop Loss not a stop loss.

Yesterdays evening racing started off well for me, i traded in the 5.45 and quickly racked up a profit of £8.09, next races i managed to make £2.45 profit 2 minutes before the off i had decided to prepare dinner for myself and Daughter/Son so i stopped trading, leaving Fairbot open, i came back about 5 minutes later to notice much to my horror that i had left the stop loss function on and it had placed a back bet in the market which had been matched at 7.8 for £40, the horse in question was now running at odds of 30+ i pressed the green up button, to spread the loss which was £37.75 - the £2.45 profit i had made leaving me with -£35.30 and not very happy, as this had breached my own limit of what i am prepared to lose on a days trading taking away the earlier £8.09 left me with -27.21 of course this was my own fault as i usually untick the stop loss when i have greened up, so what to do??
I left it and continued cooking then ate dinner with the kids, about an 1 hour later i thought right lets at least try and rescue some cash, i then traded to a small profit of £18.56 leaving me with smaller loss than earier so final P/L = -£8.65, had it been a lay bet on the stop loss then i would have traded out on a profit Ho hum..

One thing i did notice last night and on previous nights is my broadband was running extreamly slow, i am on Orange 8Mb Max i have tested the speed in the last few days and usually get speeds of 7.3mb in the daytime but last night i was running sometimes as low as 0.28mb, this was not helpful whilsts trying to trade :(
So i am now looking at changing, seeing as orange have increased the price from £24.99 to £32.50 for what is a degrading of supply so it looks like a return to BT.

Cheers ALL

Tuesday, 28 July 2009

Not so good Goodwood

Well i had the afternoon off as i usually do on a Tuesday :) Sat down with Channel 4 on to watch Goodwood races, i started trading on the 2.00 at beverley taking in £4.89
great start i thought, next race Goodwood and a loss of £5.89, then back to beverley and a profit of £2.67, then to goodwood and another loss of £3.21, and so it continued a win and a loss so after 4 losing races at Goodwood i traded all the other meetings leaving goodwood well alone, for a days final profit of £53.84, i missed out a few evening races due to ferrying my daughter and son around Kids eh...

Goodwood the volumes of money was very high, and tbh i just couldnt read the markets so glad to be at work tommorow.. Not !!


Monday, 27 July 2009

Monday evenings lite foray

Managed to trade just 11 races this evening, winning in 10 and scratching for a £0 in the other total net profit was £23.31, i seem lazy tonight as there a few races where i could have trade another once or twice as the odds were going as i thought they would... i just felt cautious for some reason or another, in one race i traded and greened up with 3 and 1/2 minutes to go, i elected to do something else :)

Some images are up of the new trading platform i am using at the moment, theres a new updated version out tonight so will download and have a shifty at it.


Just a quick note

No trading today as i am at work, but will find some time this evening in-between my daughters gynastics class.
I managed to trade 21 markets yesterday, winning on 16 of those, 1 scratched and the remainder losses, the last race of the day was my biggest loss of £6.06 i had laid this selection with about 60 seconds before the off when the odds plummeted, so i hedged out, as it was the horse in question "La- Something or other2 went off at 9's, challenged and was beaten in a photo, my liabilty before hedging was some £600+ i would have had heart failure had i let it ride even though it didnt win :) Sundays P/L was £41.89

I managed to trade a few races on saturday for a profit of £12.34

I am currently using betpodpro cost is £5 a month, has a few hiccups but is releatively easy to use, i like the right click "stop loss" feature which is simialar to BetAngel's one click and its done, generally i will place it 1 or 2 ticks either side of my opening trade (if i remmeber), on betrader pro (which i do like a lot) the stoploss has to be activated by selction/tools then if more than/less than etc too time consuming so i have never used it which is a shame really as they promote the 1 click and its placed.

Anyway here ends my tea break..


Friday, 24 July 2009

Fridays evening foray

Managed to trade 21 markets this evening, winning on 19 of them highest win was £5.12 and biggest loss was -£8.80 with the other -£0.20.
Total P/L was £38.95

Again for the big loss a big pile of cash came sweeping in, i just hedged for the loss and moved on.


Tuesday, 21 July 2009


Because i have had nothing to report, apart from a losing Friday -£33.22,
Saturday i was at a wedding, Sunday was a losing one -£27.56,
Monday due to 2 bad days i decided to leave alone as i was only working a 1/2 so would have ample time todays P/L was £78.65 happy with that.

Both Friday and Sundays losses were due to 2 trades that went a little "wrong" i laid a selection at 11's for £45 hoping the odds would rise i had actually placed my back bet at 12's when whoosh.. someone came in £1000's taking the price all the way down to 8.2 i then had some bad trades where i hedged out taking losses before hitting my limit, had i let 2 of those selections run i would have been down £600+ as they actually won.. so taking the loss was a win for me :)


Thursday, 16 July 2009


someone has emailed me asking to explain on how i trade as my style is diffent
from many others and seeing as i have a spare 10minutes at work here goes.

Firstly i rarely trade on the 1st fav, sure this is where the bulk
of the money is, but for me theres nothing worse than sitting
in a queue getting matched and then sitting in a queue waiting for
the odds to go in your favour, i also find the prices to be way too
up and downy that said it can happen with just about any other

I tend to trade on the 2nd, 3rd, 4th, 5th or higher priced favourite
depending on odds, i'll have 3 of these of these open in 3 ladders
where i can monitor the odds, i'll sometime place 2 orders say a lay
£30 at 10's on selection 1 and a lay of £30 at 10.5 on selection 2
using fairbot and the smartbets function my oppoiste bets will be
fired instantly once the lay orders are matched, sometimes both lays
are matched at the same time so i have a liabilty of £300 should either
one of these win should it go into play, sometimes 1 of the back
bets is matched in which case i'll see how the other is doing then maybe
i'll scratch it for 0, or a 1 tick loss this is offset with the previous
back/lay. Of course it goes without saying that these 2 could be back bets 1st or a mixture of both it depends on how ithink the market is moving.
I usually manage to get both trades matched so that trade one
lay @ 10 for £30, back at 10.50 for 28.57 profit = 1.36.
Trade 2 lay at 10.5 for £30 back at 11 for 28.64 profit = 1.30

if i can i'll repeat one or both trades to increase the profit, if things
go against me, i'll hedge to a loss sometimes as much as £5 and if time
allows i will try and trade the loss to make it smaller.

as i said this different on how others do it.

My only advice to others is try not let trades run in play, we have all
done it, i do it occassionally but i place my order in running, usually
because i am watching the race and listening to the commentry if a horse
is making mistakes and the odds are favourible i'll lay it and look
to get out as soon as possible, i use much smaller stakes and again if it
looks like improving i'll take a small loss, i only do this for races over
1.5miles, cannot be done for 5f races :)

Other advice pre race trade 12 minutes before the off and try and close positions
before the start of the race, either watch the race or listen to timeform radio
a lot can be cleamed from these, that way you will know when the race is almost
ready to run.

another question i am asked, "could you do it full time?" i dont think i could
in order to give up work i'd need to be clearing £95 a day 7 days a week to match
my salary or £133 aday Everyday with out fail, i know some guys are pulling £1000's
a day i'd imagine thier banks are rather large,so can actually move odds forcing markets up or down, that said i'd love to give it a go so should i ever win the lottery or be made reduntant then maybe i could :)

i hope this helps some of you, as i useless at explaining things


Back to it

Yesterdays P/L was £59.97 over 23 races, with just the one showing a loss of 0.19p
Highest win was £8.40 and lowest 0.25p, i am very happy with these results, i am still using small stakes of £17/30 i used fairbot as i find for taking taking 1 ticks quickly then its the best of the softwares i use, this enables me to quickly re-submit bets when others are matched.
Again i have been lazy in that i have capture no images, mainly because i have no image sopftware on this new laptop, hopingto put that right soon.
i am off to work so no trades till the evening comes.

Wednesday, 15 July 2009


Seems i am mr popular at the moment, as i had family come and visit me thus scuppering any plans to do some trading, i did manage to get a few in nicking a few ticks, leading to a £2.47p so that was it, but Family will always come 1st.

Tuesday, 14 July 2009

Updates+ new software

Firstly sorry for no updates since last week, i have have been busy but still managed to get some trading in. So my trading was went like this

Friday= No trades
Saturday Limited trading due to having friends over, total profit £16.65
Sunday Traded most of the of the day, took some losses, but ended with £48.67 to the good
Monday, a good late afternoon/evening trading total profit £80.31, found some nice drifters that i managed to latch onto.

I am also using new software that i have come across, very similar to BetraderPro only the ladders are reversed so when one places a lay/back you are ineffect requesting those odds, it is also cheap as chips at £5 a month via a paypal subscription.
Currently i am at work, i am hoping to get away early and in between picking my daughter up i am hoping to get some trades in, i will also take some images and post them up later of said new software.


Thursday, 9 July 2009

Quick post

Well diaster happened last night, my trusty laptop died so i had to buy a new one this evening, new one has 3Gb ram, 2.3ghz processor and 17" screen.

i managed to download fairbot and have found i have another 15 days trial, i also downloaded other software which i use Betrader ect.

i was up and trading by 6.30, taking a nice total profit of £43.23p in the evening races, i even tried some usa races, but found i was cutting it fine every time.


Wednesday, 8 July 2009

A good day.

I Took the day off work, traded all day well most of it, total profit was new best for me £118.65p, i decided to use fairbot, which i have had on a 15 day trial for some time think i still have 10 day to go :) i used the trade function and smart bets, where by it will instantly submit the opposite trade so that you will be fully green or red if matched, it only does this when a full match is achieved on the original 1st trade, i used this to great effect, in and out sharpish, on the 3rd/4th or 5th fav or even higher depending on odds.
see screen shots, fairbot is a good piece of software, but i will be next getting a sub for bet angel as i liked that a lot when i trialed it last.


Monday, 6 July 2009

Funny day

Today was one of those days, you place your lay or back and the opposite side shoots off like likes been sent into orbit so annoying so much so i hit my target for losses on the day of £25, this was after i had hit a profit of £31.09, this left me with an over all profit £5.47, i know some would have continued i did watched the next race and made a "paper" trade (practise) good job i did as the selection i had chosen was trading at 10 to back and 9.2 to lay, i would have laid this for £30/40 and hoped the odds would have risen by a tick or 2, it didnt in fact it went all the way down to 7's so that would have been another loss, with that i closed beTrader and did the washig up.

Been lasy, in that i have not upped images, if people want them i will put them uo next time, i do tend to do them for me, as i think they are a good way of record keeping, i guess a video could be next.


Saturday, 4 July 2009

Back to trading

I returned from my holiday on Wednesday, took Tursday off as i was suffereing from Jetlag, returned to work Friday for 1 day :) and only started trading again today, i did well trading to a profit £74.67, this includes a number of races where i lost or scratched for £0.
I traded from 4.00pm so all in all a good return, highest win was £7.44 ( i traded 9 times on this selection, hard work !! ) and lowest 0.22p