This is a bit of a disappointing blog post to be honest and I’m having to include a few recent subscriptions to even post a profit to the P&L on here.
As I hinted at last time, my trading was starting to suffer as a result of the tipping business and my lack of time to concentrate on my trading. I’ve therefore just been trading the races with my own horses and up until recently, this has been a very good income for me. Unfortunately, I’ve had a few selections that have run very poorly after drifting pre-race and I’ve not had the best of times of it. If it wasn’t for Folio winning yesterday, this would have been a 3 figure loss I’m posting and I’d have been really annoyed with myself.
As it turns out, it’s hardly a disaster considering I’ve been on a poor run with the tips. I hit 12 straight losers again which is the 3rd time this has happened since the inception of the tipping service. Apart from the fact I tend to play at bigger odds than most tipsters, it’s difficult to put my finger on why losing runs happen to me. I guess it’s partly because I’m quite cocky considering how good I’m going to do at this game, so instead of looking for a short priced selection when I’m on a poor run, I just continue on with my big priced selections and I end up putting myself under a lot of pressure to finally pick a winner and end the losing run!
One thing I have been doing recently is looking for more shorter priced selections that I feel may represent value. By shorter priced, I’m meaning more single figure odds and less double figure odds! So far, it’s been going OK although I do think it is much more difficult to make consistent profits long-term from backing shorter priced selections and it’s not something I’m going to do everyday. So far, I’ve been very selective with my shorter priced selections and a few have won this month which keeps the P&L ticking over.
Here’s the latest P&L for The Form Analyst:
As you may have noticed at the side of the blog, I’m now appearing on the proofing tables across at http://www.racingproofing.com. I’m still being proofed on racing index but it isn’t a fair reflection on how well I’m doing as I’ve said before since so many of my winners are punted on course.
At the moment, I’m up 61 points to odds available in the morning. I’m 35 points up to Betfair SP and 25 points up to Starting Price. Whatever way you look at it, it’s a pretty decent profit and considering I’ve only been at this tipping game for a few months, the potential is there for me to do something decent at this game.
One of the things that makes me laugh is when you look at my results to level stakes, I’m basically breaking even to BF SP and SP and I’m up about 20 points to early morning prices. This may raise a few eye-brows and people may say I’m using a staking plan to boost my profits but that’s part of the game I play. Because I give so many big priced selections, I need a staking plan to take into account that not every one of my tips is the same quality. When I have 0.5 Pts on some donkey and 3 points win on a strong selection, it isn’t fair to judge both of these to 1 point win. One of them is 6 times a stronger bet than the other one, so it makes no sense to look at the profit to level stakes.
I’ve lost a couple of subscribers this month but they have been replaced by new subscribers and I’m guessing that’s part and parcel of the game. I now have more subscribers than I’ve ever had and that’s a nice feeling. Obviously, the service is still very small and going by the fact the fees aren’t that large, I’m not exactly set up for life but it’s a promising start. I always knew the first 3 months were going to be the most difficult and now that I’m approaching the end of that with a decent profit in the bank and more subscribers than I’ve ever had, it’s looking promising for the future.
I would like to congratulate Alistair across at http://betyourlife.blogspot.com/ regarding the fact that he has made it past the £3k profit mark on Betfair this year. Ali’s blog is a great inspiration to any would-be trader and now that I’m not updating my blog daily, I’d suggest if people want a daily read they give Ali’s blog a try.
I’d also like to congratulate Leon on his blog and the fact he’s past the £10k profit mark on Betfair. As I’ve mentioned before, Leon’s blog was a great inspiration to my blog and was the reason I started a blog. I’m glad he revised his decision to stop updating his blog and I’ve been enjoying his little rants on all things Betfair and the like.
I feel like I’m congratulating everyone today but I must mention JP’s blog and his profit this year. JP uses a portfolio of tipsters to try to make money from gambling and The Form Analyst is one of the portfolio at the moment. So far this year, JP has made over £20k profit from his gambling which is an exceptional return. Obviously, he works hard to get all his bets on and obviously pays subscription fees with no guarantee of success, so it’s great to see someone making money at this punting game.
Lastly, as I said at the end of last month, I’m now past the £5k profit for the year on Betfair. I didn’t show my Betfair P&L at the time as I hadn’t past the £5k net deposit mark due to the fact I’ve used my account for a few friends to have losing bets on Betfair! However, even with my recent loss, I’ve managed to make a withdrawal to make me currently £5,060 up this year which is a nice achievement in itself. I’m up about £150 more but it makes little difference to be honest! I’m happy! :)
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