Tuesday 17th April 2007

The Sports trader had a difficult day where almost everything I touched went wrong. It is amazing just how quickly you can loose confidence at this trading lark. It's probably a good thing as over confidence can be the real killer, where you think you can do no wrong. I traded in 7 horse races and 1 football match.

My first trade of the day ended up all square with no profit or loss. My second trade, in the 14:20 at Nottingham, was a total mistake. I ended up backing Irvine Place for £100 @ 3.52 when I thought I had backed Grand Fleet, don't ask me how but it was an amateurish mistake that I should not be making and was due to lack of concentration on the race which cost me £100.

In the 14:30 at Warwick I made a partial amends by laying Andrasta for £60 @ 8.00 to result in a profit of £60. I followed this with a very small winning trade.

In the 14:40 at Exeter I backed Mariday for £100 @ 3.05, when in the lead, but just before he came under pressure for the lead and started to weaken giving me little chance of trading out of my position so I had lost another £100. I followed this with another small winning trade.

My final race trade of the day was in the 17:10 at Exeter where I laid Lit Up for £74 @ 1.37 before backing back £63 @ 1.42. Later with him now being driven hard to keep in touch I laid him for £23 @ 2.00 and £59 @ 2.51. Just as I had laid him he decided to pick up and went on to win the race comfortably to cost me a further £83.

My race trading had finished with a loss of £218.

In the nights main televised match between Manchester United and Sheffield United I decided to watch the start of the match before getting involved, just to see if the goal scoring machine known as Man U. where still in devastating form. After the first goal had been scored I backed the under 2.5 goals market for £196 @ 3.13 before laying off £186 @ 2.94. Next I backed the unders for £171 @ 2.50 and then laid £71 @ 2.25 and £120 @ 2.22. At half time I had more trades just scalping a few points each trade. The in the second half and after the second goal I backed the unders for £30 @ 5.17 and for £113 @ 5.00. I started laying this off @ 4.35 in £25 blocks all the way down to 2.20 before greening up with several small lays to leave me with £166 whatever the final score.

My day had therefore finished with a loss of £52.

Comments

[Francois]

very unlucky in racing :(

[Ray]

Hi Francois,

Things can only get better! I hope.

good Luck.

Ray

[humble]

Hi Ray i havent posted for a while as my circumstnces have changed quite a bit but luckily have been managing to trade.I totaly understand the confidence thing as i have been through this myself.you had a great run and that will return very soon.I have been going to an exchange shop to try a bit of trading and its been interesting to say the least.They have SIS and a very quick internet connection so i thought this is it "a licence to print money lol" believe me its nothing like that,there is an advantage in the quicker feed but you have to know how to use it and at the moment i am jsut going 1 day a week to practice and continuing at home.I made the same money at home as i did there, but there are people there who are very good at using the advantage of the quicker pictures ie when a horse falls you have to be so quick to lay it and get decent odds and can so easily miss it.Also backing on the line is more or less the same only you get better prices "if you are quick enough".Anyway i am practising what those guys are doing as well as my own system and progressing quite well.Good luck today Ray.

[Ray]

Hi Ron,

It's good to hear from you. Interesting stuff on the exchange shop, us outsiders always think that they do have areal edge over the rest of us. Good Luck with your trading.

Ray