Saturday, 31 May 2008

What a week!

Daily Profit £165.33

What a week I have had…….

Last Sunday, I had a good day on Betfair and won £230. On Monday, I got confirmation that my colleague at work had won £5,000 in the Scottish Sun Dream Team. Due to an arrangement we have in the Fantasy football games we entered, I get a tenth of the winnings. So, £500 will be coming my way soon!

I then got in from work last night and opened a letter addressed to me. It was from The Sun and contained a cheque for £500 for the Sun King of The Punters game! My mini-league actually got the 2nd place prize of £500 by finishing in 8th place!

The first 3 mini-leagues were not eligible as the guys had not met the eligibility rules outlined by The Sun. The 4th place team was therefore the winning team and scooped £2,500. However, they also had the 5th,6th and 7th place leagues and since each manager is only entitled to win 1 prize, it means that my lowly mini-league in 8th won the 2nd prize of £500.

You needed 10 uncorrelated stables from 10 different managers. I set up 9 spoof email addresses for members of my family and this made sure I was eligible.

I don’t want to talk too much on here about my track record in Fantasy games but I was 6th in the Select a Stable game at Cheltenham 07 and won £500. I then won £5,000 in The Sun Rugby World Cup game and I’ve now won £1,000 in the past week. That is quite a decent run I’ve been on in the last 18 months or so…..

As usual, I’ve had no time to trade on Betfair during the week and I struggled for time today to be honest.

Below is my P&L for today.









As you’ll see, I had quite a decent day again but my lack of time is slightly frustrating. I was trading the odd race today in between cutting the grass etc. and without even trying very hard, I made a decent profit!

I got off to a dream start by selecting the first 2 winners and being about £180 in profit after 2 races. I then had stuff to do and when I came back, I entered a market too close to the off, my horse went on a massive drift and then finished tailed off last! OUCH!

A £39 loss soon brought me back down to earth with a bump. I then made the same mistake again about 40 minutes later by entering the market too late and I lost £19 this time. When will I learn?

Thankfully, I was already trading the final 2 races by this time and I managed to pick a winner again and a horse which finished 2nd but got beat in a photo, so I still made an OK profit. I then had more stuff to do, so I called it a day.

Overall, a £165 profit for about 90 minutes of trading time means I can’t complain.

I’ll write a post up either tonight or tomorrow about my monthly P&L as it has been a decent month for me considering how many days I have traded. One of these days, I may get the time to spend on Betfair which will allow me to exploit my obvious potential but until that day arrives, I’ll need to be content with trading the odd race or odd day and trying to make a decent profit.

Hope you have a good week ahead.

3 comments:

Alistair said...

My my Graeme, you've certainly had a good week. Congratulations. don't spend it all at once.

Alistair

Anonymous said...

Graeme,

I can't believe how much profit you can make in a single race.

Very few traders can get near these profits and if you had time to do every race, you could be making £500+ a day it appears to me.

Well done and keep it up.

Steve

Graeme Dand said...

Hi Ali.

Good to see that you also had a great day yesterday mate. Well done and keep it up!

I was really pleased to get the £500 from the KOTP game in The Sun as I only entered the game to win the mini-league prize, so it was a well thought out plan which worked out well.

Steve, if I thought I could win £500 a day mate, I'd give up work tomorrow! I think I need to be careful to not get too carried away with my recent wins as I need to prove to myself that I can do this consistently over a long period of time.

I do feel that I have a strategy that I've developed on Betfair over the past few months and unlike other traders out there, I'm not a robot on Betfair. My strategy allows me to use my form knowledge and being honest, it is stree free and quite enjoyable. I found scalping quite boring and stressful at times, so I don't miss it!

I agree that traders can't match my race profits as they are greening up on the field. I only green up on the horses which can win the race, so I will earn more in the long-run than traders. This
goes without saying I suppose.

However, one issue I have is that I'm not that good a trader, so I can't scalp as good as other traders out there. However, what I lack in trading skills I more than make up for in form knowledge, so I can hold my own I guess.

Cheers for the comment and hope you enjoy the blog.

G