Thursday, 12 June 2008

An experiment within The Experiment.....

Daily Profit £87.30

I decided to have a bit of fun tonight and it’s paid off!

I knew this morning that I would get the opportunity to trade for a little while this evening but unfortunately, there were no flat race cards this evening, so I couldn’t adopt my usual trading strategy. However, even though I have very little knowledge of the NH game, I still feel like I have a unique trading strategy that will enable me to make a return on NH racing.

Due to my lack of confidence, I decided that I would limit myself to an exposure of £50 in any race. I would have quit if I lost £50 tonight, but I was prepared to gamble a little.

So, how would I do with a trading bank of £50?

Attached is my P&L from tonight.

As you can see, I traded 7 races and only suffered a £2 loss. I made over £10 profit in 2 races which is a 20% return on my trading bank and in one race, I made over £60 which is exceptional.

Obviously, to make £60 profit on a trade is quite impressive if I say so myself! I backed a horse at 15 for £50, laid off at 13 and had £100 riskfree. I then left in lays and the horse ran well and won quite easily. Hence, a £62 profit was achieved.

Overall, a profit of £87 from trading 7 races with a bank of £50 makes quite impressive reading.
Tomorrow, I get my latest exam results for my Professional qualification. I sat these exams in April and I remember discussing it on the blog. I’m hoping I passed!

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