It was an interesting day of trading for the Sports Trader. I traded on 14 horse races, 1 tennis match, 2 football matches and the USPGA golf tournament. I finally came out in front but only with some quick trading, after coming home from a night out with my son Oliver in Glasgow.
Horse race trading has been a struggle for me recently and today continued in the same way as my first 9 race trades all resulted in small profits.
It was in the 16:50 at Leicester that I had my first decent result as I laid Fossgate for £66 @ 5.00 to give me a profit of £66.
In the 17:00 at Wolverhampton I laid Hits Only Cash for £40 @ 12.00 to give me another 340 profit. I followed this with my last race trade of the day which resulted in no profit and no loss.
My race trading had therefore produced a profit of £118.
The first of the 2 football matches that I traded was the midday clash between Arsenal and Fulham. Luckily I only traded very lightly in this game as I only watched the last 15 minutes and I had backed the unders for £23 @ 1.40. Soon after Arsenal went on to score two quick goals to leave me with a loss of £23. I did claw back just over half of this loss by backing Arsenal to win in Injury time for £198 @ 1.06 to result in a profit of £12.
The other match I traded was Lens v Paris Saint-Germain. I was less than happy with the mess I made of this one. I had been waiting for a goal before getting involved and with about 20 minutes of the match remaining I had a lay already to submit on the 0 - 0 score line for £250 @ 1.72. Somehow I accidentally managed to press the submit button and although I did try to cancel it was too late my bet had entered the exchange and was matched. I still do not agree with the Betdaq team about this new way of bet placement where if you hit the submit button and then realise you have made a mistake you can not cancel the bet until the time delay has worked through. I think this kills liquidity, I know I am normally a lot more conservative about placing bets in these markets because of the rule. If you have a bet already in the market you can cancel whenever you want so I do not see the need for this protection. I did back the draw towards the end of the match for £222 @ 1.10 to limit my loss to £158 but it was still a costly mistake.
My other disaster for the day was in the Federer v Djokovic tennis final where I just got on the wrong side of a trade and ended up losing £173. These tennis markets move extremely quickly and if you get one trade wrong you end up in a mess. I did think that Federer would come to my aid but I suppose he had to loose a tournament at some stage in his career.
So after my evening of mistakes and bad trading I decided to meet Oliver for a drink in Glasgow. I was only out for a couple of hours and when I got back I had a look at my days trading. I decided to try and turn around my day and the only event trading was the USPGA Championship. I didn't think it wise to pile in on tiger as by now he was on the 16th hole with a lead of 2 shots and his odds were very low. So I turned to the match result without Tiger and I backed Woody Austin for £750 @ 2.00. Within a few minutes I had laid off £426 @ 1.50 and then a little later I laid him for £142 @ 1.26 and £195 @ 1.23 to leave me with a no risk potential profit of £458. Woody did eventually come in as runner up to Tiger to net me a very good profit of £458, to make me feel a lot better about my day of trading.
My end result was a profit of £235.
This has not been a great week of trading but I did still turn in a profit for the week of £541. In hindsight I could have had the whole week off and traded just the last hour of the week to give me a similar result, but that's trading.
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