It had to happen... I had a losing day...
Nothing major, but I forgot that it was a bank holiday and didn't realise until I was four races in and over £30 down that the markets were behaving different today!
Managed to pull back £10 to end on a £22 red.
Overall it's been a good month and hopefully a turning point.
I have a couple of strategies that seem to be working reasonably well in the pre race horse markets and I've made a profit of £245.56 this month, with £160.57 from manual trading (dogs, horses and one tennis match, layed Murray on Sunday afternoon and hedged way too early but made a small green and profit is profit) and the rest from the bot.
This is despite a couple of weeks of unreliable internet.
That's my biggest monthly profit since I started the blog, previous best was last July, and that was mostly arbs.
Hope you had a good month.
Monday, 31 May 2010
Sunday, 30 May 2010
Slow Weekend
Still green, but was only £2 on Friday and didn't do any trading yesterday.
Unlikely to get much done until Monday/Tuesday.
Was going to give trading the Eurotrash competition a try but I went to the pub instead.
Unlikely to get much done until Monday/Tuesday.
Was going to give trading the Eurotrash competition a try but I went to the pub instead.
Thursday, 27 May 2010
Still Going Ok
First trade of the day went wrong and cost me £1.45
But I finished the day with 23/24 greens and a profit of £16.75
Took me 4 races to get back the £1.45 and the rest to make some profit. I'm quite happy with that and pleased that the loss didn't seem to effect me.
No dogs today as I was busy this morning. Just did horses with a trip to the gym in the middle of the afternoon to break it up a bit.
But I finished the day with 23/24 greens and a profit of £16.75
Took me 4 races to get back the £1.45 and the rest to make some profit. I'm quite happy with that and pleased that the loss didn't seem to effect me.
No dogs today as I was busy this morning. Just did horses with a trip to the gym in the middle of the afternoon to break it up a bit.
Wednesday, 26 May 2010
Levels
Have I finally started moving my manual trading up a level from the 'stop making losses' to 'start making some money' stage?
Or is it just a lucky run...
Another easy half day with a £29.55 profit.
Hopefully this is a sign of things to come and I can keep a good daily average over the summer.
Have to stay disciplined now and not make any stupid mistakes or take unnecessary risks. The next few weeks is quite crucial.
In some ways is a shame that I'm working to the 20th June, but on the plus side it does prevent me from spending too long in the markets each day, and will bring in enough money to last over the summer when I will then be able to focus 100% on the trading.
One of the things that has helped my confidence has been seeing my bot take short term losses over days and weeks, even months in some markets, but still bring in long term profit.
I seem to be reading what is happening in the markets a lot better and not worrying about which way it is moving (even when I have an open trade) just accepting what is happening and looking where the money is and how it's coming in and being matched so that I am not as often hanging on to bad trades or closing good trades too early if there is a temporary reversal.
The test will be when I up my stakes and/or things go wrong (which they no doubt will at some point) and how I deal with that and if it changes what I'm doing or my confidence about what I'm doing.
Money Management, Edge, Discipline, Patience.
The dogs won't take much of an increase, but I can possibly work up to 5 or 10 times my current stakes with the horses.
I'm currently trading mostly the 1st and 2nd favourites and occasionally the 3rd favourite, whereas before I mostly avoided the favourite and traded the 2nd to 4th favourites.
Or is it just a lucky run...
Another easy half day with a £29.55 profit.
Hopefully this is a sign of things to come and I can keep a good daily average over the summer.
Have to stay disciplined now and not make any stupid mistakes or take unnecessary risks. The next few weeks is quite crucial.
In some ways is a shame that I'm working to the 20th June, but on the plus side it does prevent me from spending too long in the markets each day, and will bring in enough money to last over the summer when I will then be able to focus 100% on the trading.
One of the things that has helped my confidence has been seeing my bot take short term losses over days and weeks, even months in some markets, but still bring in long term profit.
I seem to be reading what is happening in the markets a lot better and not worrying about which way it is moving (even when I have an open trade) just accepting what is happening and looking where the money is and how it's coming in and being matched so that I am not as often hanging on to bad trades or closing good trades too early if there is a temporary reversal.
The test will be when I up my stakes and/or things go wrong (which they no doubt will at some point) and how I deal with that and if it changes what I'm doing or my confidence about what I'm doing.
Money Management, Edge, Discipline, Patience.
The dogs won't take much of an increase, but I can possibly work up to 5 or 10 times my current stakes with the horses.
I'm currently trading mostly the 1st and 2nd favourites and occasionally the 3rd favourite, whereas before I mostly avoided the favourite and traded the 2nd to 4th favourites.
Sunshine
Only four more weeks in the UK so it might as well be nice weather 
Still going green, that's about 6 days in a row now. Not sure what happened but I seem to have made improvements while I was not trading when the internet was down.
Bot is in profit, manual trading is in profit, and I've had two decent price winners in the last two days on my horse racing picks...
Need to be careful I don't get too confident now, slow and steady.
Will up the stakes a little at the start of next month, so still only going to be looking for £5-£15 a day at the moment.
Still going green, that's about 6 days in a row now. Not sure what happened but I seem to have made improvements while I was not trading when the internet was down.
Bot is in profit, manual trading is in profit, and I've had two decent price winners in the last two days on my horse racing picks...
Need to be careful I don't get too confident now, slow and steady.
Will up the stakes a little at the start of next month, so still only going to be looking for £5-£15 a day at the moment.
Monday, 24 May 2010
Still Going Well
Another straight forwards green day, £12 on dogs and horses and a £3 bonus courtesy of Mr Murray who I layed and greened up a few mins after the start of the match in the Tennis.
Nothing to write about really, I opened my trades and closed them, no panics or unexpected reds.
I've been improving my Spanish today with a new audio course that I downloaded rather than just watching the tv and playing games between races like I normally do.
Seems to be good to switch off between races, and I found I wasn't really thinking about the trading at all, I had to check the P&L to have any idea how much I'd made, all I was aware of was that I had lots of small greens.
The entry points are becoming more automatic now and I'm not tempted to chase entries or look for other trades, if I don't trade races because my entry isn't there it's not a problem.
If the phone rings or I get an important email I can now simply close any open positions and deal with it and then come back to trading once it's sorted with no emotion or irritation.
I think I've finally got past the 'This race is important' attitude that caused me much frustration and mistakes in the past. Now it doesn't matter if it's the best race to trade ever, it's not a problem, it will have to wait, there will be others.
The last few weeks has been a big change in how I'm trading and the results I'm getting.
Lets hope I can handle it with as much calmness when I up the stakes and when I get a bad day and take some losses.
Nothing to write about really, I opened my trades and closed them, no panics or unexpected reds.
I've been improving my Spanish today with a new audio course that I downloaded rather than just watching the tv and playing games between races like I normally do.
Seems to be good to switch off between races, and I found I wasn't really thinking about the trading at all, I had to check the P&L to have any idea how much I'd made, all I was aware of was that I had lots of small greens.
The entry points are becoming more automatic now and I'm not tempted to chase entries or look for other trades, if I don't trade races because my entry isn't there it's not a problem.
If the phone rings or I get an important email I can now simply close any open positions and deal with it and then come back to trading once it's sorted with no emotion or irritation.
I think I've finally got past the 'This race is important' attitude that caused me much frustration and mistakes in the past. Now it doesn't matter if it's the best race to trade ever, it's not a problem, it will have to wait, there will be others.
The last few weeks has been a big change in how I'm trading and the results I'm getting.
Lets hope I can handle it with as much calmness when I up the stakes and when I get a bad day and take some losses.
Sunday, 23 May 2010
Red Dog
Had a red dog race today!!!
Lost 89p which is my biggest loss in a race on the dogs (other than by internet problems) for ages.
I was watching a film, The Men Who Stare At Goats, at the time so I was distracted and didn't scratch quick enough.
Another good day on the horses and small profits on the other few dog races I did , so another £10 day overall.
Was at work until 4pm so only got the last part of the day to trade.
The internet continues to work so it seems asking for a new cable modem was a good idea, definitely easier than reporting a fault and waiting for them to try and diagnose it...
Looks like this is going to be a good month and if the next few days go well it could be over £200 profit.
Lost 89p which is my biggest loss in a race on the dogs (other than by internet problems) for ages.
I was watching a film, The Men Who Stare At Goats, at the time so I was distracted and didn't scratch quick enough.
Another good day on the horses and small profits on the other few dog races I did , so another £10 day overall.
Was at work until 4pm so only got the last part of the day to trade.
The internet continues to work so it seems asking for a new cable modem was a good idea, definitely easier than reporting a fault and waiting for them to try and diagnose it...
Looks like this is going to be a good month and if the next few days go well it could be over £200 profit.
Saturday, 22 May 2010
Edges
Had time for a few races after I got back from work today.
All greens in both dogs and horses today. Was extra careful about my entry and exit points after yesterdays mistakes and another green day.
I think some of this stuff I've been reading about trading is starting to sink in. I'm trading without any emotion and just sticking to my rules (for today at least).
So apart from a small blip in two races yesterday the last 4 days has been a bit of a turning point. The main thing that encourages me is that what I've been doing is repeatable and simple...
The pre race horse trades I'm doing are based on what I learnt from the dogs, so while the dogs only bring in a few quid a day it seems to be paying of in the horse markets.
Who knows... Maybe I finally have an Edge or two!
All greens in both dogs and horses today. Was extra careful about my entry and exit points after yesterdays mistakes and another green day.
I think some of this stuff I've been reading about trading is starting to sink in. I'm trading without any emotion and just sticking to my rules (for today at least).
So apart from a small blip in two races yesterday the last 4 days has been a bit of a turning point. The main thing that encourages me is that what I've been doing is repeatable and simple...
The pre race horse trades I'm doing are based on what I learnt from the dogs, so while the dogs only bring in a few quid a day it seems to be paying of in the horse markets.
Who knows... Maybe I finally have an Edge or two!
Scratch Quicker!
Made a couple of silly mistakes yesterday.
Let a trade go 15 ticks against me because I thought it should be coming back (it did but, that's not the point, I should have closed it quicker and then reopened it on the reversal)
The more serious error was to do the same again 2 trades later and then when it didn't come back close out the trade in play!!!
Both of those trades made a profit, but they could have so easily cost me more than I made in the rest of the day.
So three green days and £34 from the horses is a good start to my return to pre race markets. A figure I'm happy with, but definitely not happy about those two trades and I need to sort it out!
Let a trade go 15 ticks against me because I thought it should be coming back (it did but, that's not the point, I should have closed it quicker and then reopened it on the reversal)
The more serious error was to do the same again 2 trades later and then when it didn't come back close out the trade in play!!!
Both of those trades made a profit, but they could have so easily cost me more than I made in the rest of the day.
So three green days and £34 from the horses is a good start to my return to pre race markets. A figure I'm happy with, but definitely not happy about those two trades and I need to sort it out!
Thursday, 20 May 2010
Green Day
Another good day on the horses
Still using small stakes (£20 Liability stakes) mostly laying first, made another £10 today and now is time to go to work, so that's it for today.
This time last year my targets were £1 a day and I was making 10-20p a race (but then sometimes losing £lots), now I seem to be able to cut out the losses better and take 50p-£2 per race on the good trades.
3 months ago I was almost starting to think I'd never get the hang of it, but having a break from horses and doing dogs taught me a lot about protecting my bank and not having an in play option made me close out my trades on time. If you've not tried them give the dogs a go sometime.
Still using small stakes (£20 Liability stakes) mostly laying first, made another £10 today and now is time to go to work, so that's it for today.
This time last year my targets were £1 a day and I was making 10-20p a race (but then sometimes losing £lots), now I seem to be able to cut out the losses better and take 50p-£2 per race on the good trades.
3 months ago I was almost starting to think I'd never get the hang of it, but having a break from horses and doing dogs taught me a lot about protecting my bank and not having an in play option made me close out my trades on time. If you've not tried them give the dogs a go sometime.
Wednesday, 19 May 2010
Horses
Internet is working again. Seems it was a faulty cable modem after all.
Had a quick dabble on the horses this afternoon, was remarkably straight forwards, 7 greens and 1 red for a profit of £10.47.
My current entry/exit strategy seemed ok in today's markets, lets see how it fares over the next week or two.
Off to the gym now before work.
Had a quick dabble on the horses this afternoon, was remarkably straight forwards, 7 greens and 1 red for a profit of £10.47.
My current entry/exit strategy seemed ok in today's markets, lets see how it fares over the next week or two.
Off to the gym now before work.
Tuesday, 18 May 2010
Touch Wood
My new modem arrived this morning, and activating it was quite painless.
So far my connection has been on for 4 hours (the longest I have had a decent continuous connection in the last few weeks) and it's been fast...
Maybe I'm getting my hopes up too soon, or maybe it was the old modem that was causing a problem...
We'll see over the next few days/weeks...
So far my connection has been on for 4 hours (the longest I have had a decent continuous connection in the last few weeks) and it's been fast...
Maybe I'm getting my hopes up too soon, or maybe it was the old modem that was causing a problem...
We'll see over the next few days/weeks...
Friday, 14 May 2010
Modem
Rang Virgin and asked for a new modem. You never know it might fix the problems, my current one is quite old. But I still suspect it's just a crap network. Luckily they send it out by post so I don't have to wait in all day for an engineer to not show up...
Still not doing any trading that requires bets to be closed quickly until/unless I can get this sorted out.
Still not doing any trading that requires bets to be closed quickly until/unless I can get this sorted out.
Wednesday, 12 May 2010
Virgin Problems
Virgin continues to be less useful than a chocolate teapot.
Every day it will stop working two or three times and take between 2-20 minutes to come back on again.
Last week it was down for 30 hours which was quite annoying.
I'm not doing any more trading until I'm in Switzerland as I can't risk losing any more money to Virgin screw ups. If I was planning on being here long term I'd switch to ADSL but there's no point unless I decide to stay another year and I won't know that until September.
Maybe time to look at a VPS for the bot.
The bot continues to collect market price data from the dogs and horses, It will also do in play markets but the restriction on number of calls on the free API mean that it's better only doing 3 or 4 markets at the same time so I'm just monitoring pre race dogs (4 mins) and horses (10 mins) first.
Once I have enough data from those I'll switch it over to log in play prices on other sports and markets.
The bot makes about £30 a week when it's trading, but my manual trading lost most of that last month
although most of the loss was due to Virgin crashing just before the off leaving me with an £80 liability on a lay bet that I couldn't close.
Every day it will stop working two or three times and take between 2-20 minutes to come back on again.
Last week it was down for 30 hours which was quite annoying.
I'm not doing any more trading until I'm in Switzerland as I can't risk losing any more money to Virgin screw ups. If I was planning on being here long term I'd switch to ADSL but there's no point unless I decide to stay another year and I won't know that until September.
Maybe time to look at a VPS for the bot.
The bot continues to collect market price data from the dogs and horses, It will also do in play markets but the restriction on number of calls on the free API mean that it's better only doing 3 or 4 markets at the same time so I'm just monitoring pre race dogs (4 mins) and horses (10 mins) first.
Once I have enough data from those I'll switch it over to log in play prices on other sports and markets.
The bot makes about £30 a week when it's trading, but my manual trading lost most of that last month
although most of the loss was due to Virgin crashing just before the off leaving me with an £80 liability on a lay bet that I couldn't close.Wednesday, 5 May 2010
Internet
Internet down for 30 hours courtesy of NTL/Virgin.
Back up again now after 3 long phone calls involving navigating through their slow, unhelpful and unfriendly menu system (for valued customers) to get to speak to someone. Third time lucky I got to speak to someone this afternoon who could actually fix while I was on the phone it rather than just asking me for a mac address and telling me it'll be sorted in 3 hours and then surprise surprise it not being sorted...
Only here for another month and then I'll be on more reliable connections over the summer.
Back up again now after 3 long phone calls involving navigating through their slow, unhelpful and unfriendly menu system (for valued customers) to get to speak to someone. Third time lucky I got to speak to someone this afternoon who could actually fix while I was on the phone it rather than just asking me for a mac address and telling me it'll be sorted in 3 hours and then surprise surprise it not being sorted...
Only here for another month and then I'll be on more reliable connections over the summer.
Monday, 3 May 2010
Horses
Decided to give the horses a go this afternoon.
I haven't traded horses for a while and it showed... Didn't take me long to lose £15.
Is interesting that whatever I did, whether going with the trend, against the trend, with the WOM, against the WOM, flipping a coin, clicking the mouse with my eyes shut... it didn't make any difference... as soon as I open a trade it takes my money and then the price goes against me rapidly...
The dogs are a lot easier, shame there's not much liquidity.
I haven't traded horses for a while and it showed... Didn't take me long to lose £15.
Is interesting that whatever I did, whether going with the trend, against the trend, with the WOM, against the WOM, flipping a coin, clicking the mouse with my eyes shut... it didn't make any difference... as soon as I open a trade it takes my money and then the price goes against me rapidly...
The dogs are a lot easier, shame there's not much liquidity.
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