Wednesday, 19 March 2008

An Erratic Profitable Day.....

Daily Profit £34.87

Well, I increased my trading stakes slightly today to £100.

As I expected, my trading was again pretty erratic but I suppose the main point is the fact that I made a profit today. Again, the profit was not huge but for the size of stakes I'm using, I'm quite pleased with this profit.

I traded in 17 races, winning in 10, losing in 6 and breaking even in 1. I had 3 very healthy wins of £30 or so but this is negated slightly by the 2 losses of £35.

Obviously, with the size of the profits and losses I'm experiencing, I know I'm trading too much in every race and I know I'm not stopping my losses quickly enough but I'm hoping these skills improve with time.

I'm a bit tired tonight as I was concentrating quite hard today as I was conscious of the fact I was using higher stakes today and I know that things can go wrong quite quickly if you get caught on the wrong side of price movements. It happened to me twice but thankfully, it was after I had made a good profit in previous races, so I wasn't overly concerned.

I know that I need to learn to have more discipline when I'm trading as I wouldn't feel comfortable doing the number of trades I do every race with much higher stakes. I like the fact that I do trade a fair amount in every race as it means I do have many opportunities to profit but also, this increases the risk greatly as I can get caught out too many times for my liking!

I'm trading again tomorrow afternoon, so I'm looking forward to that already!

I've thought long and hard about the golf this week and I've taken the decision to lay Tiger Woods for £200 at 2. My itention is to trade out as early as possible this week as I don't want this bet going into the final day. I'd like to trade out and then use the riskfree bet on Woods to lay Woods to lose, so I'm trying to generate a riskfree lay on Tiger Woods!

If Woods get's off to a good start, I'll probably be posting up my first golf loss but that's a chance I'm happy to take.


Anonymous said...

34.87% return in one day - wow! That is some going and I take my hat off to you - if you could keep that up you will be in the thousands a week once you get up to larger stakes!

Keep it up!


Graeme Dand said...

Cheers Leon.

Being honest mate, I'd happily settle for a little less return and more consistency like yourself.

If I was graphing my daily P&L, it has way too many spikes and far too many troughs! I need to level things out a bit.

I'm just lucky the racing stopped when it did as I was winning and losing £15+ a race towards the end of the day, so it's quite lucky I ended in profit!

I'm hoping that I get more consistent with more practice as I couldn't cope with the size of the spikes and losses if I was using higher stakes. My heart would give in......