Monday, 30 August 2010

Heading North

I know I should not be preaching to one of the most successful sports traders around but I thoroughly recommend to Peter Webb that when he takes a summer holiday he forgets all about trading and solely concentrates on time with the family. His entry earlier this month explains the steps he took to ensure that he didn't miss out on a single afternoon of the horses. I am sure that refreshing the batteries would have enhanced his already very positive trading results when he returned.

Of all the trading blogs that I subscribe to and my current favourite, Mets Trading Diary  is the closest I will ever have to a twin brother. His individual race P/L is of the same level, trades the same sports, uses the same softyware, looking to profit at least £30 per day and has the same thoughts and strategies, makes the same mistakes (although not as many). Even his writing style is similar. The only difference is that he is obviously more organised as his 'Mission Control' is much more hi-tech than my single laptop and how he can type using a music keyboard rather than the more conventional keyboard is beyond me! He talked about the temptation of going full time and then talked himsef out of it in the same post for the right reasons.

Another example of the myth of 'free money' reared it's ugly head on Saturday. Actually it was not ugly for me as my it was my beloved team, QPR who managed to draw their 'in play' game with Derby 2-2 having been 0-2 down as the first minute of the four minutes of added time ended. Had Betfair allowed odds to reach 10000 for laying the home team on 91 minutes, I am sure we would have seen some interesting bets matched.

Unlike my random display on Friday where I ended £50 ahead, the last couple of days have seen me perform solidly. I was especially pleased yesterday as I only traded races where I could see certain trends developing. So that's three days where I have secured £173. It's just a shame that we are now at the end of the main evening meetings. 

When I started this blog at the beginning of April I was looking to acheive £1000 per month / £33 per day which would mean that I accrue £9,000 by the end of the year. If you look at the chart below, I am almost five months in and averaging less than half that figure, a grand total of £13.71 per day. This means that I will reach £3,769 by the end of the year and £9,000 in January 2012. It isn't much for all the time and energy and just goes to show how difficult it is to maintain what seems a simple task of £33 per month. I need a daily average of £55 until the end of the year to put me back on track. Not impossible but very unlikely.

I have the house to myself today and with so many meetings on today, I am giving the horses one last push to improve my August total which so far only has one red day.

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