Get Out of Jail Free

Todays profit/loss: -£2.28

Well today was an absolute disaster - with a stroke of luck at the end...I can't believe my stupidity pulled off!!

I had the whole day off, did some gardening in the morning and was feeling ready to trade.

The first couple of races saw some nice profits using only £5 stakes managing +50p and +79p, yeah not huge, but I was going to build the stakes up.

Race three comes along and decide to go for it with and from there on my racing day was doomed.

I ended up very impatient today in the markets and the pre-horse race markets looked and felt like a trap full of false money. Nevertheless I still tried to trade around it and ended up getting hammered on 11 out of 23 markets today.

The lowest point today saw me down to -£12.50 by 6pm and I can not describe how I felt after the effort I have put in to trade this month.

I gave the trading a rest and sat outside for a bit and decided to come back to trading and to be patient, ignore the HUGE loss, and just try to trade normally from then on.

My best trade of the day was during this second stint using a £20 stake and just finding a good entry position with around 10 minutes to the off and waiting patiently for the odds to move towards my position where I knew I was at the front of the que. It worked well and I felt comfortable in that position.

My usual trading strategy until now seems to be scatter trades around the market on both sides of the trading ladder - but doing this I seem to find myself rushing looking at lots of information and trying to process and to make a sound judgement from it all which for me is impossible at this stage.

I think it would be much better for me to just sit back, see what is happening in the overall market, see how is the favourite doing, find a good entry position using larger stakes than my usual and sit there being patient until the opportunity arises. When I next trade I will try that out and see how it goes.

Get Out Of Jail Free Card

I decided to take another break once my profit/loss figure crawled back to -£10 and by mistake left a position open that got matched before the off.

I left a lay bet in the Tipperary 20:20 market on Nevada Knight which was £8 at 8.40.

Fortunately for me I came back to write this blog update and found my bank balance had increased significantly almost back to where I started the day. I checked my Betfair profit and loss for today to find this...

Any other day and SOD's Law would have sent my profit and loss for the day to -£69 but luckily someone was on my side and I live to fight another days trading!