Wednesday, 15 September 2010

The Late Session

A combination of two quick goals by Tottenham, a mix up with the stakes of one trade and a speculative bet outside of the recommendations meant that I lost £32. Had I kept to the instructions as set in the the Trading Football chat room I would have ended with an 80 pence loss. There were over 50 people in the room and as expected if you were not quick on actioning the instructions the price would move quite considerably and there would be far more questions from the attendees which would confuse the conversations. This was the first time I had got involved with their 'Trade of the Day' and in future I will use those matches as a learning excercise rather than a serious attempt at trading. The chat room is open 24/7 and there are always games being traded with less people and that works well. As I get better at this I should be able to trade more independently which will make things easier.

After the football I was looking at what opportunities were available to claw back some of the loss so decided to trade the eight or so US races that were left and I did so well I ended the day in profit. You will see from the screenshot of one of the races how it is possible to make money with low liquidity. There is something I have been doing which really helps which you can understand I don't want to give away but it does help achieve about £5 per race. The problem is that I don't want to be trading late at night with such a boring market but it definately is worth getting involved with if you have had a bad evening and you want to recoup some losses. 

However, there is always a big risk hanging over you when trading US racing. The best opportunities are close to the off and sometimes the market suspends early and you can be left high and dry as there race doesn't go inplay.


gundulf said...

What a smashing blog HA! Your discipline in setting up and keeping your records put my feeble spreadsheet to shame!

Warts and all - makes good reading! Good luck with your challenge!


fletch300 said...


Just started to read your blog, thanks for taking the time to write.

One thing. If you can make £5 per race in US, why not focus on this, as you will easily hit your £33 target?



Handy Andy said...

Hi Fletch,
The simple answer to this is that you have got to be glued to ATR throughout the evening to make my strategy work and I think I would go insane watching such a boring programme night after night just waiting for the odd moments of opportunity. Serious trading takes a lot of dedication and you have to enjoy the markets that you get involved in otherwise whats the point of doing it.