Wednesday, 9 June 2010

Evening update

Sometimes it takes the views of other, more proficient traders to open your eyes to things. A blog I read regularly is called Trading on the Betting Exchanges and the author has inspired me in many ways because not only does he write with clarity and ease about his rise to success on the exchanges, but he also engages us peasant traders without a hint of snobbery.

I followed his lead and traded some evening racing tonight, partly because he said he makes good amounts in the evenings and also because I wanted that £100 day. I've avoided trading the evening races until now because I always seem to end up on the receiving end of some random spike...and tonight was no different! It only took until the 19:35 to get SMASHED IN and be faced with a -£20 deficit on one horse grrrr!

Still, the perseverence paid off and I quickly caught up with myself to bring home my first £100+ day - hurrah! I didn't find it too hard going actually and I suppose I was bouyed by my earlier efforts. If time and brain allows, I will endeavour to make some more time for the evening racing in the future, providing I haven't already gone bust by tea time of course!

11 comments:

  1. Well done Mets

    Great to see your first £100+ day, may it be the first of many more to come.

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  2. cong for up 100 today, i think you got smashed in ealry evening, when some guy droped 29.000 and there is antoher big move when an spofer put 20.000 in back side.

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  3. Congrats Mets
    Good work. Today I will start trading again. I hope I can keep the discipline like you are.
    Good luck.

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  4. @Anon - thanks very much mate I hope so too!

    @Gabriel - cheers mate, yeah I think it was about 20k that came flying in bah!

    @dobrin - i look forward to reading your progress dobrin all the best :)

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  5. Well done Mets, I'm sure they'll be plenty more £100+ days to come.

    Your average of £4.71 a race is a very respectable return from £100 stakes, not sure if mine's that high. It's good to see you've come to the same conclusion and happy to continue at that level in order to maintain the consistency. We'll always get to a point where we just can't increase our return per £1 traded and trying to nick that extra from the same stake has the opposite effect cos we're overstretching ourselves or trying to force trades that just aren't there. Once you've hit that level of consistency the only option left is to increase volume whether it's the volume of cash we stick thru the market or the volume of markets we do.

    That £20K guy was playing in the markets again today :( so it's good to see you didn't get phased by being caught out as I'm sure he'll be around for a while longer.

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  6. The 'smasher', as i see it at least, cannot have a profitable strategy and i can't see what they can achieve with how they operate in the markets. I certainly don't think it's a bookmaker dropping all that money in the markets, regardless of price, to reduce liabilities because you can usually tell, due to previous results, when that's going to happen! Previously they seemed to come in at certain points in the market but lately it's seemed random it would be enlightening to see how they hope to make a profit from this strategy because, for a few seconds, they often take the market to 90% and i just can't see how they profit from what they do.

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  7. @BT - cheers mate. The average was reduced slightly after I'd done the evening cards but still pleasing. I know what you mean about overstretching - I had an expensive lesson yesterday because of that very thing.

    @Anon - I can't see what the 'smasher' is doing either besides causing much havoc. Perhaps there is a method to his madness after all?

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  8. congrats Mets, ur first £100 day!!

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