After such a good day yesterday I was due a poor day and that is what I got. It's been a day of very little horse race trading, I only traded in 8 races. I have no excuses, I just could not get things right although I only had one losing race and in that I only lost 19p.
My day started with the 12:40 at Musselburgh and this race along with my next two races where all profitable but I only made a total £1. My next race was the 14:00 at Newcastle. I started with a back on Regal Heights of £25 @ 1.80, which I laid back @ 1.60. Then a further back of £13 @ 1.65 and a lay of 14 @ 1.25 to net me a total profit on the race of £10.
I had three more trades which where all very small and resulted in a combined profit of £1. And that was that, a very quite day of UK horse racing which resulted in a profit of £22.
Tonight's live football match was the game between Yeovil and Huddersfield. I did my usual analysis of this match with the aid of SoccerStats.com. My conclusion was that this would be a low scoring game. I tried to get on pre kick off at 1.78 and luckily did not get matched. I therefore watched the game for a few minutes, still wanting to get involved. I put a back up just before the first goal was scored and had not been matched. Once the market was reformed I backed the unders for £159 @ 2.56. I had just got matched for £10 @ 2.30 when the second goal was scored. At this stage it was looking like a goal feast could be on the cards so I was more than a little worried about getting too involved. I ended up backing the unders for a further £10 at 5.25. So when the third goal went in I was standing with a liability of £160. I watched the game for a while before getting involved in the under 3.5 goal market for £42 @ 4.30 and had put up a lay at 3.20, which did not get matched before the fourth goal was scored. So I now had a liability of £202.
I watched the game for a while before deciding to trade the correct score market to recover some of my losses. I ended up backing the 3 - 1 score for £256 @ 1.69 with 14 minutes left on the clock. I started to lay off @ 1.41 for £56, then 1.31 for £50, 1.21 for £50 and 1.13 for £100. In the 89th minute I backed the 3 - 1 score for a further £259 @ 1.12 and put a lay up for £259 @ 1.02, which I cancelled just before the final whistle which resulted in a profit of £146 on the correct score market. I therefore made a loss of £56 on the game tonight and this resulted in a loss on the days trading of £34.
If you believe this mornings newspapers and the state of the markets, I have blown my money on the next Rangers manager market. I have now laid Walter Smith for £400 and am still not convinced that he will take the manager's position but would not rule him out of the position of Director of football. I will watch with interest over the next couple of days.
When I started writing this blog about 8 weeks ago there were only a handful of blogs on the go, some of which I would read everyday to get an insight of the way other people traded the markets. Now there are in excess of 40 blogs related to Sports Trading. The latest one that I found is Punt.com - a Blog about Gambling, by a Professional. This is written by Matt, who has been trading since the start of the exchanges, six and a half years ago. His speciality is tennis, which is an area I intend to look at more closely this year as I know some people make a lot of money on this sport. The other thing I notice about the writers of these blogs is that we all trade in different ways, which is good and only goes to enforce my belief that there are virtually limitless ways of making money trading the exchanges.
Wish my bad day was only a few quid. Lost about 12% of my bank yesterday. The good news it is the weekend which give me more time to trade so I be able to win some back that way I am sure. It is really good to see some many blogs appearing and different angles for people to explore. The important thing is to do you research, plan a strategy and stick with it. We are all different and therefore it is important to find an approach that works for the individual.
Keep up the great blog it keeps me going when things are not working for me.
Posted by: ramps | 01/06/2007 at 09:24 AM
Ray, Thank you so much for the great write up, I'm still in the midst of setting things up so expect a link back to yours soon. A minor correction is that I've been on betting exchanges for 5 1/2 years rather than 6 1/2, but 3 1/2 of those years I have gambled as my only source of income, I'm not sure I know of too many guys that have survived this long :)
Thanks again for the links and kind words, you've got a fairly unique blog on the go here (using betdaq) and I'm enjoying reading it greatly. I may have to pick your brains on some of your blog design.
To Brian, stay positive, take your time today and make sure you learnt from what happened yesterday and re-enforce what you want to acheive in your gambling today - as in - how*, rather than - how much*. Good words regarding plans, good luck today :)
Matt
http://www.punt.com
Posted by: Account Deleted | 01/06/2007 at 09:40 AM
Hi Brian,
Thanks for your positive comments. As you say on your blog if you make a loss but are sticking to your planned stategy, the loss is acceptable. I know it's when I stray from my normal methods that I get really mad about a loss.Good Luck on your recovery mission this weekend.
Ray
Posted by: Ray | 01/06/2007 at 09:56 AM
Matt,
Any help I can give I will, re the dsign of your blog and trading in general. Remember I am also a novice at this blogging and am learning every day.
You will soon be up for a long service award for full time traders.
Good Luck with your trading.
Ray
Posted by: Ray | 01/06/2007 at 10:02 AM
Hi Ray! I'm happy to see that you've lost just a tiny amount, cosidering that fact that last night's match was a really bad case for implementing your trading plan!
I'd like too to learn from you a bit on changing my blog's design.
Kindest Regards
Posted by: ASA | 01/06/2007 at 12:24 PM
Hi ASA,
It did look like I would have a big loss at one stage.
Give me a shout if you need any advice on your blog, use my email.
Good Luck
Ray
Posted by: Ray | 01/06/2007 at 01:09 PM
Thanks for the support guys. Very wise words on this blog.
Posted by: ramps | 01/06/2007 at 03:35 PM
Another interesting read today,sometimes you just cant get into it for whatever reason.if its any consilation Brian i lost my whole bank except £10 in one day about 18 months ago.i bought a system were you laid horses that drifted more than 2 points and 3 in a row came in BIG prices.that was probably the hardest racing day in my life but i learnt from it and came back a little bit wiser.Am sure you will recover.your blog is getting more popular ray,you might have to take on a secratary lol
Posted by: humble | 01/06/2007 at 06:47 PM
Hi Humble,
A Secretary, now that could be interesting, can I justify it. Good Luck Brian and Humble.
Ray
Posted by: Ray | 01/06/2007 at 06:54 PM