Thursday 8th November 2007

The Sports Trader had a reasonable day after missing the early races. I traded on 7 UK horse races, 1 cricket match, 1 football match and 1 tennis match and had 2 losing trades through the day.

My first trade was in the 13:00 @ Musselburgh where I laid Desert Hawk for £61 @ 22.00 to result in a profit of £61.

In the 13:15 at Thurles I backed Optimus Prime for £452 @ 1.03 for a profit of £14.

My only losing race trade on the day was in the 13:50 at Huntingdon where I laid Calusa Caldera for £100 @ 1.20 to cost me £20.

Next was the 14:15 at Thurles and here I backed Rindoon for £100 @ 2.08 before laying off @ 1.90 to give me a profit of £18. My next trade ended with a small profit.

In the 15:20 at Huntingdon I laid Bauhaus for £42 @ 3.00 before backing back £28 @ 4.00 and then towards the end of the race I laid Bauhaus again for £52 @ 50.00 to result in a profit of £65. My last race trade of the day resulted in a small profit.

My race trading had produced a profit of £139.

In the early evening I managed to watch the final 4 overs of the One Day International cricket match between India and Pakistan. I backed Pakistan for £30 @ 1.38 and £50 @ 1.08 before laying off £80 @ 1.02 to result in a profit of £14.

Later I watched the Aberdeen v Lokomotiv Moscow UEFA Cup match. I backed the under 2.5 goals for £183 @ 1.77 and laid off between 1.72 and 1.16 to result in a profit of £20. I also backed the draw for £50 @ 1.15 and a further £26 @ 1.04 to give me another £8 profit.

After the football I watched the tennis match between Jankovic and Chakvetadze and ended up losing £35 as I backed Jankovic for £36 @ 2.20 just before she had her service game broken and I had little chance of trading out.

My day had finished with a profit of £145.

 

Comments

[Mike T]

Ive been reading and following your success lately and want to thank you for your ideas but i have a question/problem that probably reflects a lot of your readers.
how do you keep your other half off your profit? i find mine getting raided constantly which leeds me into risks that i would not normaly take in aneffort to recoop, if you get my drift.
anyway at least i still have some money to play with.

thanks and lots of respect.

mike.

[Ray]

Hi Mike,

That's easy to answer, divorce. I have been seperated over a year and the divorce is now in progress. As I have the children full-time my wife has no recourse to my earnings.

What I would suggest you do is set a target that you want to build your bank up to, have a rule that no money will be withdrawn until you get to your target and then when you get there withdraw half of your monthly profits at the end of each month. This way you will have a safe and still growing bank along with an income to satisfy your other halfs desires.

Good Luck with your trading.

Ray

[artanis]

I have one question about your trading.

Why you and other traders back selections (under 2.5)and then lay off in parts?
Is that better than just back and lay soon as possible (trying to get best price, but in small time frame)?

And what to do if goal come in, is it best to take loss right away?

Thanks!

[Ray]

Hi Artanis,

I think it is better to lay off in stages. I tend to back the unders for more than I would if I was holding on longer. By laying off in stages you limit your liability quicker and after making your first couple of lays the stress levels are so much lower.

If a goal is scored I would normally go back and back the undes for the same as my liability at that time, this has the effect of shortenen the time you will have a liabilty before you can get out of the position.

Good Luck.

Ray