Wednesday, 23 May 2012

What a difference a-ldi makes

Well, I'm still here grinding away...and what a grind it was today. Two low grade all weather meetings on a Wednesday afternoon should have had alarm bells ringing as far as pre-race trading is concerned but that didn't stop me getting stuck in. One day I'll learn from past mistakes.

The markets were so horrendously manipulated that only a fool would get involved...especially when there's a Barney Curley runner involved


To think I can crack these markets is futile - and I know this - but the challenge of getting one up on the people steering the prices is more than I can resist. To cut a long story short, I got smashed from pillar-to-post and ended up -£100 down by tea time. Approx -£70 of that was from pre-race trading, the other -£30 from in-running


Should've just stayed in bed this afternoon!

Since I started jotting down my pre-race and in-running totals for each race, it's been a real eye opener just how slim my pre-race edge is some days; quite often, I'm just glad to break-even and today was one of those days.

While it's tempting to carry on sitting at your desk hoping for a miraculous turnaround, it's likely your brain is already tired and your confidence shattered from the disappointment of one negative total after another. I had no choice but to pull myself away as the weekly grocery shop at Aldi beckoned. I don't know which is worse, sitting at my desk losing money or trudging round Aldi for an hour buying the same old crap I bought last week.

Anyway, the break away from desk seemed to do the trick and I managed to rake back the deficit and half the grocery bill in the remaining 8 races :-)

post-Aldi

Even after all this time, I'm still perplexed by the way some days play out. I could've stepped away at 17:00 just -£35 down but the "lure" of one more trade is hard to resist and it ultimately cost me another -£65 over the next 3 races. As I've said in the past, I hate losing days and the bad feelings it brings - it's really exacerbated by my OCD too which insists that I don't leave any "loose ends" and a losing day is a loose end that I can't fix until tomorrow...it really bugs me!!


In other news, this weekend brings the Eurovision Song Content 2012 and to be honest it's about the only other thing I do outside of horse racing that I'm confident I can profit on at the moment. I made a measly £30 in 2010 but managed to triple that last year, so let's hope it's another good one. It's such great fun to watch and the betting side of it is fascinating - pity it's not on more often.

6 comments:

  1. Hi Mets

    I lost a small fortune on a Nag aptly named "Red All Over" today myself.. i should of known!!

    Do you have an example of what you mean by the markets extremely manipulated?

    Cheers
    AL

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  2. Ah crap AL, that's no good. If I'd seen it, I think I would have treated it as some kind of omen and stayed off it!

    I haven't got an example of the manipulation to-hand, but the danger signs are there if you find you're getting only a small % of your bet matched on a good price movement, and all of your bet matched on a detrimental movement! If I capture it on video I'll post it up on the blog or something - seems to be happening a lot more often these days.

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  3. I've noticed the market becoming increasingly more difficult to grasp of late. I've had to re-adjust the way I trade to taking a longer term view. So less scalping and more swing. It's a whole new approach for me so it's taking time to master entry & exit points. The markets are evolving and what once worked for me, like for you, is becoming less effective and it began showing in my P&L. Time to evolve your trading style Mets me owd china

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  4. @Steve - I'm glad there are a few others who have noticed the change. I've been chipping away at the swing trading since Feb (when I first noticed things getting tougher) but I'm quite a way off mastering it! To be honest, I've been avoiding swing trading for a long time as it's never been my strong point, but as you say, we all have to evolve our styles to suit the conditions.

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  5. Hi Mets,

    I thought that was just normal market behaviour but definetly i think there are limited opportunities for scalpers at the moment.

    Keep it green.

    AL

    ReplyDelete
  6. An informative with interesting article which helped me a lot.Really an outstanding job. .
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    ReplyDelete

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