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

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.

Cheer

My best day

Update,
Wednesday traded a little taking in around £12 profit, then in the evening i went Horse riding with Daughter and young lady whom i have a relationship with, 1st time for me on a horse boy what a thrill, i take off my hat to the Jocks that ride these things at 40mph on flat and over sticks, i still ache :)

Thursday i managed to trade all day, taking in just under £100 profit, i managed to lag onto a few steamers and drifters holding my nerve before exiting the trades, biggest single win was £21.09 and biggest loss(we have to have them) £8.86

I now only have 275minutes left on BetTrader before i then try BetAngel, my only gripe is £15 for 20 days, so if i take it out on Monday 25th of may, it will only run until sunday the 7th of june, i am unlikely to trade everyday, i would have prefered it if it was 20days of trading, even if to took 40 or more to use.
HeyHo looking forward to giving a blast in any case.

Cheers
Ron

Money to Burn?

Have you ever noticed large volumes of money being moved on 1 horse?

Today i was trading on a horse it was running as 3rd fave with odds at 7.6 to back and 7.8 lay, i backed for £80 at 7.6 i placed my back just as the last few pounds were being snapped up so i was in front and matched, i then placed the lay at 7.4 for £80, matched almost instantly, as someone came crashing in with £6000+, he started to push the price down, matching everything all way down to 5.4, and i missed it such was the speed that he kept pushing his money in order to get matched, i hedged out for a £2.85 profit as there just seconds to the off but it could have been so much more, as for the punter who placed £6000+ at odds from 7.4 to 5.6 well he lost. I had read on another blog that last week there was someone placing £1000's on races, its something to look out for as he will push the price down to ensure he gets matched.

Cheers
Ron

Another day and another Video

Traded on 14 races today/evening taking in £22.85 with the lowest win being £0.01 and the highest £5.94, i am loading another Video as this shows how i mainly do my trading, its by a guy called BingoLittle, tis a cracking video,

http://www.racingtraders.com/Betfair_Trading/BingoLittle/one%20tick%20wonder.wmv


Todays trades were done using stakes of between £20 to £60, i have also included a jpeg of the last race at Wolves, i did think that the API was rather sticky tonight, in that i would place a trade and it would take a while before it was actually placed i wonder if any one else has had this problem using BetTrader>? i have about 800 minutes to use up on this software, i indend to use BetAngel well the Trial run for £15 to see how it goes, watched a video of the lastest updates to the ladder and it looks the b's Knees.

Cheers.
Ron

A welcome return

Well i came back from holiday wednesday last week and only started Trading again on Friday, Saturday and today, Friday being the best day for me taking £88+ profit, Saturday was £25.56 and today 25.99 for a total 3 days profit of £140+

I came back from holiday full of freash ideas, and of course a new determination, when i trade and the fav is very much odds on, i generally ignore it but i traded on all of them then that were short priced using my whole bank, either laying or backing 1st at odds depending on the selection but they were 1.50 to 2.0, the good thing with these selections is the fact that that there is so much money on them, and the odds usually move up and down fairly easily, i found myself taking 1 to 4 tick movements, hedging then doing it again it is cracking how fast the profit mounts up of course depending on many times you enter a trade,

I am glad that the evening racing is now upon us as it gives us more oppotunitys to trade, I am again going on holiday in the Middle of june so i need to scalp as much as i can :)

Heres a good video from MickyB showing how he does it, nerves of steel ?

http://www.racingtraders.com/Betfair_Trading/mikebaker/18.04.09.wmv


Cheers
Ron