Tuesday, 29 April 2008

No Luck Today..............

Daily Profit £7.82

In terms of adopting my betting strategy, today was probably my best day yet by far. I gambled in 8 races and in every race, I was riskfree at the off. This is a nice achievement considering I'm not really an accomplished trader and the funny thing for me was that I didn't use BA Pro once. All of my trading was carried out on the usual Betfair interface.

OK, so why was my profit only £7.82 for the day then?

Being honest, it was a combination of bad luck and greed on my part. In 4 races, I had a return of over £100 on a horse and in the final race at Southwell, I had a return of £100 on 3 different horses in the race. My best riskfree return today was on a horse called Moon Mix in the 4.30 at Yarmouth.

I fancied this outsider to run a very good race and it was heavily backed 20 minutes before the off before going on a massive drift. I managed to catch both swings correctly, so I had £360 of a riskfree return on it.

When I usually have these high returns on outsiders, I usually look to get myself a return of £10 or so in running and let the rest run and put in very low lays. Unfortunately, Moon Mix travelled very well through the race and I cancelled my lays about 2f out as I thought it had a very good chance of winning. In the end, it faded to finish 4th and I was annoyed to see it traded below 4 in running. This moment of greed effectively cost me £50+ if I had kept my lays in as planned.

I had another 2 horses who ran very well in 2nd but I only won a few pound on them as I didn't lay off enough in running.

Today is probably the first day that I would have made more from trading instead of gambling but I can't complain after the last 2 weeks I have had!

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