Daily Loss £122.98
I really fancied 2 horses today. Both ran in later races. By the time the 4.40 came, I was £220 down on the day again and traded Barraland as I thought it would win. The horse was backed from 7/1 to 11/2 and was well backed on Betfair. I had £480 riksfree, took £100 out at 2.08 and let the rest run. The horse got beat in a photo after trading at 1.11 and I think this is the straw that broke the camel’s back!
In the final race, I was very, very sweet on Ever Dreaming. I then ended up with my whole bank on it, watched it drift wildly, then watched it go 1 point lower than I backed at and overall, I ended up with about £100 riskfree if I wanted it but I chose to take £20 in running on it. The horse traded at 5 but I didn’t lay and I ended up losing £20. Then again, £1200 risk to get £100 riskfree….
If I held my nerve, I could have had a £1,000 riskfree bet pre-race (or £100+ win). If I had backed at the peak price, I could have had £2,000 riskfree. Instead, I backed at pretty much its lowest price apart from when it was backed late on and another cock up from me.
A £120 loss after being £220 down is some sort of achievement but I’m taking a break from this game for a week or so to get my head clear.
Incidentally, how did I get £220 down on the day? I ended up with my whole bank on The Good Guy in the very first race of the day and the fav was backed from 10/11 to 4/7, so I was left on the massive drifter again. I lost £300 on the race which is maybe a record for me but then again, I’ve been losing money in large sums this month, so not too sure.
I then traded pretty well in the main then until the 3 horse race at Bath. I fancied the 2nd fav to upset the long odds on fav and I was right and the market was wrong. I ended up with a fairly large red on the 1.45 shot and a small green on the other 2 and not surprisingly, the 2nd fav pissed it and I won sweeties for gambling much more. Great!
The worst race by far was the 4.05 at Bath when I traded the 2 Harris horses to get £500 riskfree on both. Spic N Span was hemmed against the rail the whole race and the trainer was fuming on ATR as I was also. Didn’t make a penny when I could have taken £50 pre-race and just about sums up my day.
Apart from my £300 loss, I was £180 up on the day and that’s it for me for this month. I’ll take the rest of this month to read my trading books and relax as this game is a pain in the ass at times!
Incidentally, I just want to say thanks to Steve for the recent comments. I agree with everything you are saying mate and I just need to stop pissing about in shitty little races I know nothing about. Today is yet another example and if I had only traded the 2 handicaps at Bath, I would have been £100 up as I would have taken the riskfree bet in the last on my horse that lost.
What the hell I’m doing trying to use my trading strategy on every race I’ve absolutely no idea and this month has been a great learning curve for me.
As you say, having a losing month may be good for me and I do feel like I need a break. I’ve became almost reckless with my trading now and it’s got a bit out of control. I need to get back to doing what I do best and stop trying to adopt my strategy to fit every race. As I’ve said previously, I know I can’t trade that well and I know I have no edge in other races, so why do I trade them?
Hopefully, I’ll start back next month afresh and try to build things slowly again.
Good luck for the rest of this month and I’ll do a review of this month in a week or so. I’ll take the time between then and now to analyse this month and understand what the hell happened!