Withdrawn the account again.
Now this time I really mean it and Ill start keeping 50€ as a base bank from now on.
Like I said before I only have one "life" left. If I blow the bank to bits again Ill go back to pre-race or at least to a less agressive live trading.
This is going for quite a while longer than I ever expected. I expected to have blown the bank again by now ... let's see if it holds up.
By the way let me add I trust that the way Im trading can be profitable however I do still make mistakes.
It's a lot different from pre-race when it comes to stress. I do feel a lot more pressure to close/open position. So stupidity does come in to play sometimes and that I believe is the only reason I might fail.
The API was starting to go a bit mad so it was an excuse to end early. That and the usual Easter tradition of going around visiting all the family and such.
By the way I've using live video again. In a corner with no sound. It probably will end up tempting me to trade on those low odds runners in the last few furlongs but we'll see.
Also added the P&L Overview since the 3rd of March when I started this 'challenge'. Which leads to only one conclusion I really need to start upping the stakes and stop constantly withdrawing.
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WhyAlwaysMe (7th April 2012)
Wow. You're doing well!
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skit (7th April 2012)
Only short races today which for my trading style would mean taking punts left and right. So if anything I'll try some pre-race trading ...
Still did a few quick live trades and some pre-race.
But I'm struggling with a cold right now so I'll just stop for now and be back at it tomorrow.
I've decided to withdraw the bank back to 50€ for a couple of days (if I don't end up with a loss) and then when I feel comfortable up the bank. Probably the next 'step' will be 75€. At which point I'll have to change a few things ...
And I had to go and eff it all up.
First I lost a few cents when I opened a position without wanting to on a US Race market but that's not the first time it has happened to me. Mistakes happen.
I was watching Real play and just looking around the markets on Betfair ...
When Atl. Madrid scored I couldn't resist and backed Real ... but then god knows why I figured I should give the 'Correct Score' market a try since it has such nice odds and all (silly me).
Backed the current score which was 1-1 and 1-2. I still can't figure out why. I knew Real was strong hence the bet on the 'Match Odds' market ... but then why back the 1-1 score?! This damn cold is affecting my brain!
Well Real did score which made me close the trade on the match odds (almost 100% stake return) and realize my mistake on the Correct Score market ...
What now you idiot? You keep backing results on and on? Increasing your 'liability' if Atl scores?
So I did 'cover' the 1-3 score but nothing more. Ofc the game ended with a 1-4 score and I lost what can be considered a huge ammount for such a small bank.
This is exactly what always leads me to losses ... lack of thinking.
Well back tomorrow for some live trading!
Sounds too clever for me!
I really need to get rid of this cold.
Was too slow cutting losses and reacting to the markets ... loads of missed opportunities today!
Quick update. Couldn't be bothered trading today since the API was quite slow and even the site had issues.
Did one race though! An amazing 0,40€ profit!
Seems like I'm stuck around a 30ish bank ... up and down and right back to 30 we go.
Finally seems like I've managed a profit but now I won't trade till Wednesday ...
Quick afternoon trades since I didn't have much time to spare.
What a roller coaster this was ...
So yesterday I decided to bet on the Chelsea vs Barcelona and what a game!
Thought there was some value to back Barcelona at 1.72. So I put 10 there.
On the second half I really was expecting Barcelona to fight back (so I opened a position on the over 1.5 goals at 1.24) and try they did but couldn't make it.
The game stats are amazing ...
Ball possession: Barcelona - 72% Chelsea - 28%
Shots: Barcelona - 12 Chelsea - 4
Shots On Target: Barcelona - 8 Chelsea - 1
Corners: Barcelona - 8 Chelsea - 1
I was watching the game on TV and was so into it I didn't even consider grabbing the laptop and closing any position.
Amazing game ... which made me lose 20€.
So today I started trading the horses with a small bank of ~15€. Lowered liability and got on with it. And then almost lost a complete stake ... a glitch in the matrix (opened a position in the last furlongs, again)!
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Morgans Choice (20th April 2012)
Just another afternoon ... don't know why I bothered with the short late afternoon races ...
A quick bet on the Barcelona v Chelsea.
I've lost so much money on Soccer on the last few days it's not even funny. Almost all the horse races profit actually.
I should quit betting on it ...
Edit: I'm waiting on a market to close so I can post a P&L screen.
I will stop this challenge for a while at least, maybe forever.
I was surprised by the news that the Toy is no longer free and I need to gather enough money by May 7th to buy the 'Owned License'.
I intend to do so by trading pre-race so until then consider this challenge 'suspended'. Its not a challenge with a defined goal so I can't tell if Ill be coming back to it.
It was a good experience although I didn't get much feedback from you lot. I also didn't have the time I was expecting to dedicate to it and actually explain what I was thinking about the market in certain days. Which probably explains the lack of 'discussion'.
Thank you all for the support.
Taking soccer out of the equation I actually made a good profit for a 30 bank and with such a small number of markets.
See you around here soon I hope.
"Welcome skit, your current expiry date is 2032-05-20"
So thats done but I've decided to finish this challenge.
I really missed the stability of trading pre-race tbh. I traded aggressively IR which was quite stressful but at the end I was able to find a "strategy" which had some decent returns. And was able to cut the losses quite quickly ...
So I think there's a future to it and I might continue trading IR but now mixed in some PR trading.
All and all a good experience. The results could have been better if it wasn't for those damn soccer bets.
Also, having this challenge didn't stop me from making stupid mistakes so that's a myth busted.
Edit: Forgot to add the number of markets traded. 155 horse races, 16 greyhound and 8 soccer matches/markets.
So here's the final result (think I got the dates right)