Tuesday, 17 June 2008

Where has my confidence gone?

Daily Profit £162.31

I think the only positive to come from tonight was the profit. I struggled with the trading aspect and I’ve lost my confidence at the moment.

I traded 7 races, having 2 decent profits (£150 and £40) and 2 losses of £20. Overall, it was hard work but it was great to be back in profit.

I think it’s no coincidence that I’m not feeling too comfortable with my trading at the same time as when I’m picking out large drifters to back in nearly every race!

Drifters are my main enemy on Betfair when I’m using my trading strategy and I need to avoid these like the plague. In 4 races, I backed a large drifter and the fact that 2 of them won makes little difference to me as I struggled to get riskfree on them before the race.

All I can do is keep plugging away and hopefully I’ll get my confidence back soon….


3 comments:

Alistair said...

Hi Graeme, your confidence has probably gone looking for mine!

Fortunately, mine is on the way back and I'm sure your's will be too.

Well done on your recent golf success by the way. It's good to see you haven't abandoned that to concentrate on your new racing strategy.

Alistair

Graeme Dand said...

lol Cheers Alistair.

It was really freaky last week when I was reading a few blogs and everyone appeared to be having a bit of a hard time and then I go and lose £300 last Friday night to put me in the same boat!

I was quite shaken after last Friday's loss and withdrew some profit which has cheered my bank balance up and cheered me up also.

I think I was falling into the trap of betting large stakes on horses and not really realising that it was real money I was playing with.

I would be happily sitting with £500+ win on a horse waiting for it to shorten a few points. It was lauaghable at times thinking back and it felt right to take a step back and reduce my stakes a bit.

Good to see you are feeling a bit better about your trading and hopefully, you will get back to earning consistent profits again.

Graeme

Anonymous said...

This really is an enjoyable daily read and I think your strategy is fascinating. I don’t have the ability on Betfair to trade horses like you do but I can pick winners, so do you have any tips for me on how I can win.

Stan