Sunday, 14 June 2009

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
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5 comments:

  1. Paul15 June 2009 at 00:40

    another great result, Ron. Just a quick question. Why hedge after each individual trade instead of just once at the off or whenever you feel is the right time? Cheers

    ReplyDelete
  2. Anonymous15 June 2009 at 02:28

    hi Ron

    good blog
    would you like to exchange links?

    trader1
    http://preracetrader1.blogspot.com/

    ReplyDelete
  3. Ronnie2ticks15 June 2009 at 07:26

    Hi Paul,
    I cant really answer as to why i hedge straight away after each trade, but in the past i have actually forgotten to hedge infact i have closed market and won nothing, i suppose it steems from there :)

    Trader1 i have added your blog to my lists, i have actually read yours in the past.

    ReplyDelete
  4. PhilKi15 June 2009 at 08:49

    Hi Ron

    Thanks for a great blog; some good advice today. I will certainly take it on board. After 41 successful trading days in a row I had a bad day yesterday (Sunday). So today is "Day One" of the next run. Your comments are just what I need to focus again.
    Regards
    Phil

    ReplyDelete
  5. Anonymous15 June 2009 at 14:45

    thanks Ron

    I will also add yours

    trader1

    ReplyDelete

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