Saturday, 8 March 2008

Rollercoaster of a day....

Daily Profit £7.11

As you can tell by the title, today was a bit crazy. I think what is happening is that I’m getting more comfortable with trading and I’m probably getting a little too complacent trading with these stakes. Today I increased my stakes slightly to £20-£50 and I did OK but I'm clicking that mouse far too much. When I read the race correctly, the profits are great. When I misread it, I'm liable to run up large losses.

I had my biggest win today and my biggest loss, so was a bit of a rollercoaster. My biggest win was very pleasing and I managed to generate £20 hedged profit on a race as I read the betting perfectly. However, I was quite sure the 2nd fav would win, so I put £10 on that so that I had more on that and less on the field. Thankfully, the 2nd favourite won and my return was £50.

I lost £32 on a race though and I was mightily disappointed. So much so, I’ve decided to stop trading any horse out with the first 3 in the betting completely. I was trading on a 4th favourite as it did appear to be getting backed. I then followed it all the way up as it doubled in price. I was using £30 stakes, so was a bit of a disaster. Created a massive liability on the horse which I partly laid off before the off and then laid off the rest in running by backing it. A total disaster and a £32 loss. Ouch!

Overall, I’m pleased that I made a small profit but I need to stop doing crazy things in certain races as it’s wiping out my profits every day.

I’m not trading tomorrow as I’m at the football, so my next day will be Tuesday as I’m working on Monday. That happens to be the 1st day of Cheltenham. I’m thinking of not trading at Cheltenham and just gambling like I would do every other year as trading spoils my enjoyment of the racing a little bit I'm finding. I wait all year on Cheltenham, coming around, so I want to be able to enjoy it and not worry about trying to trade every race.

I’ll write more on my plans for Cheltenham if I get a chance this weekend.

Lastly, my golf is going great this week. I laid Ernie Els twice at different prices and he has missed the cut. I’m currently all green at the moment which is great but I’ll post up my winnings once the tournament is over. Sean O' Hair is also keeping the flag flying for me at the top of the leaderboard, so could be another decent profit from the golf.

Good luck to everyone if you are trading and gambling this weekend!

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