Tuesday, 25 August 2009

Blue Monday

Rather frustrating day today. First off I had a bit of a nightmare setting up my new PC to record effectively. Tested everything 2 hours before the racing and it was working just fine. I was encoding in Xvid giving me about 4.3MB per min of footage. I was happy with that. About 30 minutes before the first race I tested the recording for the last time and I kept getting an error message telling me that Xvid was busy, when closing the window I received a ‘Not responding’ message. I tried this several times. Needless to say the recording was not working. So I ended up installing a couple of other codecs to see if I could get something to work without using 14MB files per minute (which was what the standard setting was). Already quickly running out of time I settled for a codec called ‘ffdshow’ which seemed to work and gave me about 5.5MBs a minute.

I felt flustered and a bit uncomfortable with the whole new setup. This was to be expected though as it is the first time I have traded on this PC and with a dual screen. I also needed to spend some time setting up Bet Angel in the way that I liked it, and getting all the settings adjusted. I didn’t realise how much I had customised the settings until I was faced with the default settings again! Though this did make me appreciate how versatile BA can be. By the time I got everything working there was 5mins to go on the 3rd race so I skipped this race and moved straight onto the fourth.

I started off badly as you can see from the first couple of races. I really need to take more time to focus early on as this is not the first time this has happened. Not too sure how to help with this issue, it’s not as if I can reduce my stakes until I get into a routine! Evidently with the rush to get things working, I did not watch any videos before so I will need to make sure I do this next time. Rushing into it again probably didn’t help matters wither and I will probably stick with the ffdshow codec for peace of mind. The whole recording session was approximately 1GB, and that was for 3h20mins – that’s good enough for me. Just to give you a rough idea if it was encoded in Xvid It would have been about 860MB. So I’m not going to get too bothered over 140MBs, particularly as I have a dedicated 500GB hard drive for all my trading material. Besides it is likely to be a conflict and I’m definitely not going to spend hours trying to figure which codecs are conflicting, life’s too short!

I soon got into the rhythm and had a solid run making £1.98 from the next 15 markets and then promptly lost it all at the Wind 17.05. I made a schoolboy error and placed two poor trades, but only had one close in the market with Take SP set, when I thought both had been set to this. Of course you can guess what happened next. Race goes off and I realise near the end of this 7f race, by that time the favs price was so long I couldn’t close out. Poor error on my part and although it’s not as bad as going IR intentionally I really should have checked my closure settings properly. At the end of the day if an error like this has the potential to wipe out all of my daily profits, I will need to make note and double check everything at 1min to go and once more at 30secs and finally at 10secs. I was quite mad at myself as it could have so easily been avoided and I was in the red not due to my poor trading selections.

On a more positive note, I picked myself up quite quickly and was determined to get in profit for the day. I knew I needed about 61p from the last 2 races and I pushed myself to make 66p in the end! Granted we’re not talking about huge amounts of money here but I am happy none the less with my mental attitude in the last 2 races. I was in the red on both at one point but I closed out quickly and made some good trades in to push things in my favour. Have not had the time to review the video footage properly but I do have the next few days to go over this. Next trading session looks like it will be Saturday so I have some time to watch it all beforehand. Will update the blog with anything I feel might be useful to include in this review once I have finished watching it.

Other observations include the new screen setup mentioned briefly earlier:

No doubt I will move things around a bit once I get accustomed to the space. I found at times I almost forgot about the second display and needed to remind myself it was there! On some races I found having the market overview larger was much easier to pick out the moves. And today for the first time I did jump on the 2nd or 3rd fav when I felt the price was going to come in a few ticks. This did make me think about trying to have the 3 ladders open at the same time. Might give this a go next time. I did not swing trade as much as I would of liked but I did see many opportunities today. I am hoping the videos will help me identify these opportunities better. Also I did not get around to using Green UP radio but I will give it a go next time, sounds like a handy tool particularly for me as I am trading without pictures at the moment.

That’s it for now. I will leave you with a quote from the one and only Albert Einstein which I found inspiring this morning:

‘In the middle of every difficulty lies opportunity’

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