The events of yesterday have culminated in a massive response from fellow traders, bloggers and readers. I am totally overwhelmed by the messages of commiseration, advice and good luck. Just reading all the comments on yesterday's blog makes me feel very humble but proud. Proud to be a part of this online community of fellow traders where we can swap trading strategies and give each other support when needed. After reading other forums over the years I didn't think it would be possible to have such a positive meeting of minds between traders. But we have, and I only hope we can keep it like this. So a very big thank you from me to all of you.
Now down to business where I have had a profitable day. I started in the 12:20 at Ayr where I backed the favourite, The Abbots Habbit, for £480 @ 1.38 two hurdles out when in the lead and did not see the need to lay off so netted a nice £182 profit. I had three more small winning trades before the 13:55 at where I layed Fearless Foursome about half distance for £50 @ 4.00 when he was mid field and not looking to be going well. My phone went, I answered and was trying to have a conversation whilst watching the race and just as I managed to finish my call I saw my layed horse romp home to win. Another example of an interruption and lack of concentration which this time cost me £150. Deja Vu. With my confidence still a little low I had 6 more small winning trades by the end of the racing day which left me with a profit of £115.
The football match tonight was the premiership clash of two struggling teams Sheffield United and Aston Villa. The stats pointed to a fairly low scoring match but again with my confidence low I decided to tread carefully. I backed the under 2.5 goals for £100 @ 1.67 pre kick off. I hadn't started to lay when the first goal was scored. I then managed to back the unders for £89 @ 2.74 and a further £104 @ 2.61. These odds where a little on the high side and within a few minutes I started to lay off for £200 @ 2.28 and the rest @ 2.12. So I now had a profit on the unders of around £90 and no liability on the overs. I was just watching this game now with about 5 minutes to go before half time. I tried to green up some of the profit during half time @ 1.55 but didn't succeed. After half time the odds started to go up again due to the pace of the game. In the 50th minute Sheffield scored again and the odds now jumped up to 2.82 where I backed the unders for £178. within a couple of minutes I started laying off @ 2.47 down to 2.43. I had layed off all but my last £50 when the third goal came so I had been caught with a £50 loss. I looked for options to get back this loss and in the end I backed the draw with 2 minutes on the clock for £153 @ 1.13 then quickly layed off when a corner was given @ 1.11. After the corner was taken and now into the three minutes of injury time I backed the draw for £275 @ 1.07 and layed all off one minute later @ 1.01. This left me with a profit on the match result of £24, to leave me with a loss on tonight’s match of £26 and a day’s total profit of £88. Not great but a profit is really what I needed after yesterday and hope tomorrow is better. I must just say that the match tonight was a brilliant game with so many shots on goal and brilliant saves.
Well done Ray. I thought that footie match might cause you a slight problem. Were you on betfair when you backed the draw at 1.07?
Posted by: The Gambler | 12/12/2006 at 12:08 AM
Hi John,
No it was on Betdaq, I did back some football last week on Betfair.
Ray
Posted by: Ray | 12/12/2006 at 12:12 AM
brilliant blog, keep up the good work, Hard luck sunday, don't worry you'll bounce back.
Posted by: vivster | 12/12/2006 at 01:48 AM
I think most traders are decent people - it is just on the Betfair forum that morons revel in other peoples misfortunes. Good luck today.
Mick
Posted by: mick | 12/12/2006 at 07:45 AM
Keep up the solid fightback this week Ray. Let me assure you that none of us are finding it easy at the moment and many so called experts are going through the mill.
Russ
Betdaq
Posted by: Russ Wiseman | 12/12/2006 at 09:26 AM
Hi Russ,
Thanks I will endeavour to keep the profits rolling in and hope you can do the same.
Ray
Posted by: Ray | 12/12/2006 at 10:57 AM
Just found this site,great reading thank you for sharing,I am just starting to learn about trading,Any help you could give a begginer specifically would be most appreciated,Thanks again and the best of luck to yourself and everybody for the future.
Posted by: hanuman | 12/12/2006 at 03:53 PM
Hi Hauman,
The best piece of advice I could give to a new trader is to set limits and stick with them. Even those of us that have traded for years find this hard to do. Look through the archive of posts and you will find all of my trading strategies. If you then need help on any specific point please get in touch and I will try to help. Good Luck.
Ray
Posted by: Ray | 12/12/2006 at 06:46 PM
Hi ray a great thread very infomative i will be looking in regular its great to see someone doing what we are all trying to do thanks humble
Posted by: humble | 12/12/2006 at 07:16 PM
Hi Hmuble,
It's not easy at times but then if it was everybody would be giving it a go. I hope you make it and the very best of luck.
Ray
Posted by: Ray | 12/12/2006 at 07:34 PM
Thanks ray yea its not easy and i agree about your comments about peoples comfort zones and also in the trading you only seem to learn by your mistakes lol.found your info about backing a few furlongs out then laying off at a lower price very intresting.i had been watching this for a while and sometimes its obvious when a horse is looking so fresh compared to the others so a lot of good opportunities for us and as you say its getting it right.keep up the good work and good luck
Posted by: humble | 12/12/2006 at 08:31 PM
Evening Ray,
I'm thinking the loss could even be a "cheap" lesson, you go on a winning streak and you start thinking you're indestructible, I find. Beware the big red!
My biggest loss is around a thousand trying to hoover on unders/overs in a rugby match. Added 19+16 in my head, came up with 36, expensive maths lesson. Yep, even us elite pros slip up sometimes.
Best of luck.
Posted by: Prekladatel | 12/12/2006 at 10:04 PM
Hi Prekladatel,
You are right, complacency is one of our biggest foes.
Ray
Posted by: Ray | 12/12/2006 at 11:14 PM
Hi Ray,
Onwards and upwards with the recovery, only wish I,d looked in on Sunday night. Made exactly the same mistake on the Villa game last night, backed unders far bigger than I would In-ply, pre-match intending to lay off before kick-off and had to pick my son up which took longer than expected,well above my comfort zone and couldnt bring myself to risk much more, the rest is history, a week or 2s profit wiped out in one hit. Still, its another lesson learnt and one I know I,ll get back with the usuall strategy
To Hauman,
Have play about wth very small and comfortable stakes your not worried about and your profits should grow, go in and you dont feel comfortable and a pound to a penny you will lose, hope this helps.
Excellent Blog Ray.
Posted by: podtog | 12/13/2006 at 12:29 AM
Hi Potdog,
Best of luck with your trading and I hope you get it all back very soon.
Ray
Posted by: Ray | 12/13/2006 at 12:32 AM