Self Doubt

No posts for a little while now, i have been going through a bad patch of red trades and just can't seem to "get it". Over 50 pounds of my 400 pound bank is gone in trades that have gone against me and i just can't seem to get the feel of the markets that others have. Everything in the graphs and indicators looks like a horse will drift, i lay it and then it crashes in and vice versa when it comes to backing. I am beginning to think that doing the opposite of what i see and think will provide better results than what i am achieving presently. Anyone with any tips or advice please feel to contact me through here or on my email address on my profile.Would be much appreciated. I am continuing as i gave myself a 6 month bracket to try and master this and i am up to month 4. All the best for those of you doing well, my mere 250 pounds a day target is along way off yet. Cheers everyone for the support so far.

First day back and a bad one.....

The screen shot says it all, traded 6 markets only to lose big time on the last trade just when i was going to call it quits for the day. Everything (that i know so far) told me the trade was going to go my way, but instead it went the other way and never came back...quite frustrating as this is a massive loss compared to what i make in a trade. Almost 2 days profit gone, i don't know Peter Webb and Adam heathcote keep their losses so small when i see there P&L's ...i know there is more to this and there are some specific indicators that a trader can use ,but they most likely are keeping to themselves and fair enough as they have done the hard yards to find them. But i have been at this now for 4 months solid (started well before the blog) and still i get done by these very fast swings that go against me. Hopefully my day will come when i will see these signs that i know they use and can then benefit from them. The one positive i take from this is that i closed the trade and redded up before the off, this was hard to do and i am proud that i took it on the chin and didn't get tempted into in-running play.Going away now to read alot more and watch more videos tommorow, so i might not trade, will see how i am feeling. I just have to hang in there!

Total Markets: 6
Profit/Loss: -£6.76
Strike Rate: 83.33%
Average per trade -£1.13 (worst ever day!)

100% again but a very bad day!

Total Markets: 14
Profit/Loss: £4.13
Strike Rate: 100.00%
Average Trade 0.30p

14 races traded but a very bad day as far as i am concerned. I let 2 races go in-play after the trades went against me, i was particularly annoyed with myself as i told myself off for doing it after one race, then i promptly went and did it again!!! The two races were with horses Thunderstruck and BookiesIndex, both beaten on the line! So although i came away with a 100% strike rate for the day.I consider myself lucky and i don't come away feeling happy that i traded well at all. I won't be trading the next few days as i am away to Cornwall for my little bro's birthday. Will update when i get back. All the best everyone!

100% Day

Another 100% trading day and i am very happy. Stats as follows

Total Markets Traded: 5
Profit/Loss: £4.04
Strike Rate: 100.00%
Average Profit Per race 0.81p

I am happy with my progress so far and i am starting to see when a price is going out. I didn't trade all the markets today, but i did sit and watch alot and try to predict what was going to happen and i got it right alot, this is good confidence building for when i increase my stakes, which will be done using a gradual approach, i don't want to put to much pressure on myself.

An OK Day

An ok day i think, stats as follows
Total Markets: 10
Profit/Loss: £1.88
Strike Rate: 90.00%
Average per race .19p

I am still having alot of trouble with the last 5 mins before the off, things just go so crazy its hard to keep up, i got stung -2.77 in one trade as you can see which took half my profits for the day. But i guess i was glad to get out before it went in-running, its so hard to take the loss on the chin but i know its sooooo important in this game. As it happened i came up in profit for the day which was great! So i felt good about that, i didn't let it get me down. If anyone has any tips for handling the last 5 mins before the off, please let me know!

What a trade!

Ok so 4.46 pounds is nothing to most of you traders but considering i average 50p a race to get this in one race was exciting stuff for an amateur like me...lol...

My stats for the day

27/10/09 19 Markets traded for £16.56 profit avg. per race £0.87p Strike Rate 89.47%

I took this screen shot after an awesome swing that went in my favour, very happy with that as i saw it coming and i achieved this trade with only 2 pound stakes, i saw it going out and just keep laying as it went out.I'm hoping for a few more of these soon.

Good Start

Well i was very cautious in the markets today as i want to start off well and get into the positive, working on not letting anything go inplay (the traders curse!) and well i managed it today. I only traded 6 markets as i am still watching alot and working out what signals to look for and where they work best, also when to scalp and when to swing.

Total today

26/10/09 6 Markets £2.64 Profit £0.44 average per race 100% Strike rate for the day

I am also keeping daily records of my results, theres a great spreadsheet i got for free off the Bet Angel Forums. Some nice brother coded it and posted it for free, i thought that was pretty cool as it seems everybody wants money for something these days, so thankyou whoever you are who made that excel spreadsheet, i have found it very handy.
I have started working with trading the Football now, trying to find a small edge and i think i have one, time will tell!.