Saturday 14 May 2011

Eurovision 2011

Well, the Eurovision trading went ok, with a few more quid earned

I think I managed to forget everything I learned last year but then again, a year is a long time and I don't tend to make notes. No I tell a lie, I don't ever make notes!

With £5 million groats matched on the event, it's nothing to be sniffed at. For the uninitiated, there seems to be 3 stages to the trading: firstly, the speculative trading that happens throughout the semis and right up until the final begins on the telly; then there's the in-running trading that goes on while the songs are playing; and lastly there's the "dix points" bit at the end which is a different beast altogether.

I'd made most in the "middle bit" while the songs were on. The trading at the end, during the scoring, is so swingy about the favourites it reminds me of trading the tennis. I could have done better and made a few mistakes but it's treble what I made last year so that's progress.

The horse trading continues to be kind to me. Dare I say it though, I've been suffering from boredom recently and have therefore been trying to take some more time off so I don't find myself trading 7 days a week. I'm not really "growing" at the moment ie I haven't managed to scale up my winning edge to Adam Heathcote proportions which has contributed to the boredom. There are far more interesting things to be getting on with than watching the ladders and I suppose I'm plateauing, but in a comfortable fashion. In other words, I'm doing enough to get by at the moment.

I ran into a bit of trouble on Wednesday and Thursday. Just to explain, I trade with a 2k bank and only withdraw the profit I make that day in order to "reset" the bank for the next day. It's an OCD-related thing, I have to start the session on a whole amount! :D

I withdrew Tuesday's winnings to my bank to reset my balance to 2k but forgot about the dent the Premium Charge was going to make on Wednesday. I traded on Wednesday with a bank of £1875 and felt like I was playing catch-up the whole session to get my balance over 2k so I could allow myself a withdrawal. The result was a crappy Wednesday

The same thing happened on Thursday too

So on Friday I deposited some money back into the Betfair account to round up the balance to 2k and, voila, no more obsessing about the min 2k balance and the money flowed in

Just by artificially removing this simple distraction, I could concentrate properly and make some decent money once again! That's another lesson learned this week.


  1. I find that quite amusing about the bank balance mets as i've done the same before lol, unless ya start on a full bank even without thinking it already feel like ya on to a looser!! with regards to the scaling up and getting bored i find the less i try the more it comes! as it was once said to me before, get ya kicks from spending the money not earning it.

  2. He he perhaps OCD is a common denominator amongst all traders!

    Oh I've definitely had fun spending some of it in the last few weeks - the Mac Mini is a little belter!

  3. Bloody hell, my long shot punt of Serbia didn't pan out - oh well, that iPad is looking even more distant now.

  4. Just order the buggering iPad will ya! Tell the missus it's a work one if she asks ;)

  5. Hi Met, I found the minimum balance a limiting factor too, I just couldn't finish a day even if it was a few pence below and would subsequently make silly trades, what i now do Is withdraw surplus funds to the betfair games account so that my trading account remains at an amount im happy with and if i do finish down on the day the betfair site shows the full amount available not just whats available to trade, its all psychological but if it works then it works and its the overall outcome that matters not the steps you take to get there.

  6. Ha ha nice one James, another OCD case in point?!


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