Wednesday 11th April 2007

The Sports Trader is back to winning ways, all be it on a much smaller scale than usual. I had very little time to trade in the afternoon as my Au Pair let me down for the day which meant I had to spend a lot more time looking after the children. I only traded in 3 horse races and 1 football match.

All my race trades were small winning trades and I only managed to make a profit in total of, don't laugh,  £7.

I said yesterday that my confidence is a little low after yesterday's disaster and I traded a lot more conservatively than normal. I am aware that I missed several decent opportunities to make profit but that will be the way for a while as I am not prepared to jeopardise my profits.

I did trade in the under 2.5 goals market on tonight's Liverpool v PSV match. I started with a back of the unders for £379 @ 1.41 well into the first half. I traded out for £79 @ 1.35, £200 @ 1.30, and £100 @ 1.25. After the goal had been scored I backed the unders for £534 @ 1.16 and traded out for £82 @ 1.14, £200 @ 1.12 and £252 @ 1.09. I then greened up with a further lay @ 1.09 to leave me with a profit of £69.

So my day had finished with a profit of £76.

Comments

[Paul]

Hi Ray,

Back from my hols.

Well done for dealing with your loss so well. You don't need me to tell you that your style of trading means that your profit graph will show the occasional big dip. Probability suggests you may face two or three such days in close succession but as long as you focus on making value judgements you have no worries.

I also nearly had a big loss on Monday when a Rule 4 went against me and then the Betfair site went down when I had a potential large exposure on the Reading Charlton game.I got lucky with the bets which were matched and ended the day green. I think it is important to remember the times when luck is on your side, rather than kidding yourself it is skill. It helps you deal better with the bad times and you appreciate luck evens out in the end.

Good luck for Aintree.

Paul

[Ray]

Hi Paul,

I hope your holidays went well and you are fully charged ready for a good trading spell.

I'm pleased you got out on the right side when Betfair had their technical difficulties the other night.

Luck does play an important part of trading that is why trading is classed as gambling by the tax man, but I also think you make your own luck in this game and a big part of 'luck' is confidence.

Good Luck today.

Ray

[The Gambler.]

Wise words from both of you. Godd Luck. :-).