Wednesday, 4 June 2008

No complaints!

Daily Loss £35.00

Just a quick post to say I traded one race tonight. It was the 8.20 at Ripon and Vicious Warrior was my fancy here.

It proved very weak in the market and went on a bit of a walk in the market with 20 minutes to the off. I initially backed it at too low a price but I managed to dig myself out of the hole by continuing to back it and laying it lower.

At the off, I could have had around a £100 riskree return on it but I was fairly confident it would lead, so I was happy to take £50 in running. I laid £15 off fairly quickly as it led as I thought.

However, a large lay then appeared with about 5f to go and I decided to stay on the other side of it as I was still confident that it would shorten in running. Annoyingly, the large amount on the back side got snapped up and as the price was beginning to shorten towards my lay price, it came off the bridle and faded quickly.

Hence, a £35 loss on the race and on the night. I’ve no complaints when something like this occurs as I knew the risks when I let the £50 go in running.

I think it’s quite funny how recent success can affect your future decisions. A few weeks ago, I would always have traded in this bet for a £100 riskfree return if it won but my confidence is so high, I decided to aim for a £250 riskfree return in running.

This time, it didn’t pay off but doing this sort of thing will pay off in the long-run as long as I don’t go wild with the amounts I take in running. I’d limit myself to £50-£100 I think and it adds a slightly new dimension to my trading on these sorts of horses.

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