Friday, 30 April 2010

Put the garden chairs back in the shed...


With the bad weather putting an end to trading in the garden, I was back in the house working from the office again this week. To be honest, with all the gear I had to move out there, it was more hassle than it was worth and as one reader pointed out, it could get a bit glarey.

This week I've been using my other PC - a much beefier machine running Windows 7 and two monitors - while I get the PSU fan fixed on my regular trading machine. It's been nice having the second monitor there as I've been whacking on the excellent ITV player and catching up with Corrie, Champions League and even Joanne Lumley's Nile! I don't usually watch a lot of telly but this has been a welcome distraction. Having these distractions makes it feel more like a hobby and less like a job I find; it's good company too.

I've decided against watching the live racing for the time being as it was causing me to get into bad habits too close to the off, costing me £60 over two in-running fiascos. Now I just do what I did before and get out when the clock strikes 0:00.

I've been updating my graphs on the spreadsheet that I keep and it's been interesting to see how things are coming on. Below is an up-to-date graph for profit per race for the last 6 months.


At a glance, it's clear that the losing days are starting to thin out and that I'm consistently hitting the £1+ mark per race (over 20 races per day typically).

Today was a pretty good haul but, after seeing Jack Birkhead make my daily personal best in a single race, I still can't help feeling like I need to move things up a gear!

Anonymous: "You'll never be satisfied will you Mets?"
Mets: "No!"


4 comments:

  1. You do seem to be pretty consistent at the moment Mets, now's the time to take it to the next level by upping stakes.

    There's only ever a certain percentage we can make from the market and once you hit that the only real option is to up your stakes. If you try to gain that extra cash by letting trades run longer looking for more ticks you'll only end up by unbalancing all your hard work and consistency.

    Not sure what stakes you're using but I saw earlier you'd stated it was only £40's and also that you don't do many trades per market. If so, that is a very good return and you'll be hard pushed to beat it.

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  2. Yes, I guess you could say I'm most comfortable with £40 stakes but just lately I've been trying to up-the-ante to £80 a bit more in line with my increased confidence. I only really became consistent in April after 5 months of ups and downs and I'm really hesitant to go and spoil the party just yet!

    Regarding trades-per-market, that's definitely something I've been trying to address in the last week and it's so far so good :)

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  3. I think sometimes you need to seize the moment and take the chance whilst your confidence is there. You'll find much the same as when things are going wrong and it becomes a vicious circle , when things are going right that confidence increases in what you're doing. If you can avoid those early losses, which will obviously be bigger with bigger stakes, you'll find when they do come they'll be in line % wise with your wins and easily covered by increased wins.

    As for trades per market I'm much the same and don't do too many, I'd much rather bide my time for the right opportunity than take risks just to be in the market.

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  4. Cheers BT - seize the moment - I like it!

    Useful advice there from someone who has obviously got this thing sussed.

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