Thursday, 5 November 2009


Racing bank at start: £22.19 
Racing bank at end: £23.94 
Unit stake for next session: £2.39
Average market P&L: £0.14

Only managed to trade for 2 hours on the racing today having been busy in the morning and returning home at lunchtime.  Glad to report some more positive results warranting another increase in stakes.  The liquidity today was noticeably poorer than yesterday and it was a good day for catching swings (an area I'm keen to improve in). I did catch a few and am getting better at it, but I did miss out on a fair few too. Still I can't expect to master this skill overnight.   

Part of my new approach is to pick out a couple of markets at the end of each session , at least one where I traded well and one where I trading poorly, and watch the video of them later (having recorded the whole session). I then analyse my trading on these vids and take note of what can be improved next time.  This is the compromise I have come to in regards to my analysis, as going over hours of footage after trading for hours is just not practical and means I miss out on some of the footage (which could potentially be the most valuable parts).  At least this way I touch on the main issues by being selective on what to view whilst the day's events are still fresh in my mind.

The first one today was the 15.30 Lingfield where I traded the moves all wrong. I did this about four times in a row! and this was after I had correctly identified what was likely to happen. I managed a small profit but if I had been focusing properly and stuck to my guns I would of made a much healthier ROT.  I'm looking forward to when my stakes are large enough to be split into part closures, as I think  this will help me to have the confidence to hold onto the swings, rather than feel the need to green out after seeing a sign for reversal. 

The positively traded market was the last race 16.10 Haydock. I was actually tiring towards the end of the card and after taking a moment to refocus traded this one well.  I was particularly pleased as I quickly scratched three trades that would of gone against me quite quickly. When I eventually got what the market was doing I caught a short swing to profit nicely at the end. I was mainly happy with my resolve to quickly scratch the poor trades and objectively rethink and apply a better strategy.

Football bank at start: £34.35
Football bank at end: £34.41 
Unit stake for next session: £3.44
Average market P&L: £0.02

Not much to report here with a whopping 6p profit!  I started looking at the 1.5 markets where the price movements are quite mechanical prematch. However the liquidity was poor and I don't feel the scalping tactic used was really scalable - although perhaps it was because so many games were staring at the same time. I'll switch back to match odds but I do like the over/unders prematch, and will take a look at the 2.5 markets next time where the liquidity should be much higher. 

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