Wednesday 6th June 2007

The Sports trader had a reasonable day with 11 horse races traded and no losing trades. Regular readers will know that I am trading a lot less races at the moment. I have done this as I know I am not able to compete with other traders due to the reasons given a few weeks ago on this blog. I suppose I am trying to just cherry pick my trades to lessen the risk and still make a reasonable profit each week. Trading in this way is exceptionally boring, as you will see I can go a couple of hours without a trade. I can still take positives from my trading and the main one is that I have been very disciplined, and, I have still made a comfortable living. I hope to get back to normal over the next few days once I have set up my new computer system and broadband.

Today's trading got underway with a small profit in the 14:20 at Lingfield. In the 14:30 at Sedgefield I laid Wally Wonder for £31 @ 4.20 and backed back £25 @ 6.00. Later I laid him again for £17 @ 6.00 to result in a profit of £23.

My next 3 trades were all small winning trades. In the 16:30 at Sedgefield I laid Barney for £120 @ 4.50 before backing him for £13 @ 4.65, £24 @ 7.10, £40 @ 8.00 and £12 @ 17.40 to leave me with a profit of £31. I followed this trade with another 3 small winning trades.

In the 21:10 at Kempton I backed Stolen Hours for £51 @ 2.74 before laying off @ 2.34 to result in a profit of £20.

My final trade of the day came in the 21:20 at Ripon where I backed one of the most expensive horses ever bought, Jalil, for £177 @ 1.10 to result in a profit of £18.

My day had finished with a total profit of £117.

Comments

[ian smith]

Hi Ray ...... sorry I missed the bit were you gave reasons for not trading so much ... was it because of computer speed ?

When you say you are cherry picking .... do you mean you are delaying trades and not getting better prices as you are placing the bet nearer the finish of the race or event?

Any which way, glad to see you are making healthy profits

regards

Ian

[Ray]

Hi Ian,

The entry detailing all the reasons for my poor performance ia at: http://thesportstrader.lastminuteliving.com/the_sports_trader/2007/05/monday_30th_apr.html

You are right I am delaying hitting the submit button and I am tending to trade towards the end of races.

Good Luck.

Ray

[Jen Hood]

Ray,
You getting a better computer won't increase in running liquidity. If the bets were there you would take them now on your current PC.

The trouble is that since IR commission went from 0% to 2% liquidity has died a death and practically all there is now is the bot player offering backs lower/lays higher than the other exchange. It is very noticeable that your drop in "trades" has come at the same time as the commission increase.

Strange that Betdaq increases their commission just before the other exchange and it coincides with takeover rumours. Now would be the time to drop commission and try win customers over.... if... the rumours aren't true.

[Ray]

Hi Jen,

I know that liquidity is not too good at the moment but I can not control that. I do know that my computer and internet connection have been on a go slow so I can correct that.

Unlike Betfair, Betdaq has not increased it's commission structure, they have just taken away the 0% commission incentive that had been running for 6 months.

The in-running commission of 2% is still much cheaper than other exchanges and I can hardly begrudge paying this low rate. After all Betdaq are a buisness looking to make profits.

There are always rumours about the takeover of Betdaq. The owner of Betdaq is one of the UK's richest men and he has owns a very good company. I will concede that if an offer was made for Betdaq that exceeded his valuation it could be sold but then you could say the same of any company.

I personally hope that Betdaq stays as it is and I am sure that most Betfair customers would also want the same so that there is some competition in the betting exchange market.

Good Luck with your trading Jen.

Ray

[Paul]

Hi Ray! Have u ever tried just laying the short priced favs & then backing them in running for a profit?

[Ray]

Hi Paul,

I have tried most ways of trading a favourite. I find the best ones to trade are decent favourites that tend to be front runners, then I will back either just before the off or soon after and lay off for a profit as soon as possible.

Good Luck

Ray