Risky business

Today's profit/loss: +£7.19

Yesterday's profit/loss: +£6.45

From the last few days of trading I have seen more and more how risky trading can be, even when a trade looks very simple, someone just decides to smash £1000's on the opposite side of the market to leaving me thinking WTF?!!

Despite that and several other amateurish mistakes I have been able to make a profit from the evening races last night and today.

I have attempted to push £20 stakes through the market the last couple of days with very mixed results.

Generally a weakness of mine I have picked up at the moment is the traders old saying, 'cut your losses and let profits run' is not working as it should with me. When I enter a trade immediately I look to closing it out at just a one tick profit - and any bad trades I let them run knowing they are likely to drift away.

Cutting my losses and letting profits run is one area I will focus on in the coming weeks but need some time to understand when the odds are likely to go on a drift or steam.

Overall I am pleased with my progress so far as I was not sure if I would even have 100% of my hard earned cash still in the Bank of Betfair!!

..but I will not be satisfied with my results until I am making consistent profits and seeing the bank balance increase.

Hoping to trade all day tomorrow so will try and get some profit from those.