Monday, 10 August 2009

A Green Week at the Ostlers

A good week in some ways, in so far as I made a small profit, though the profit was scattered as I had a dabble on the rugby, football and greyhounds (as well as my mainstay - the horses)
The greyhounds I found very difficult to trade as the prices seemed all over the place and the active time so short (less than 2 mins to the off before anything really starts to happen, and trends very difficult to spot)
The football I was bobbins on as I traded eight matches and called six wrong, so an auspicious start there. Rugby league - played two won two, but liquidity was very low, so the jury's out on that one.
Horses, of which I traded 68 races, yielded a profit of £68 - A £1 a race - which therefore has a lot of room for improvement. Biggest issue as always is that I take my profits quick and let my losing trades run longer. Bit like selling low and buying high :-), opposite to what I should be doing, so work to be done. Not quite got my head around the stop losses yet, as invariably when I use them, the price recovers and when I don't use them the price continues to go the wrong way. (now where have I have I heard that before) I'd be interested to know how many people use automatic stop losses so maybe I'll start a little poll.
My edge? - well I did stick with it, hence the reason I only traded 68 races, though I did do 6 afternoons and 4 nights on the horses, it's just that in all the other races the opportunity I look for didn't materialise. Having said that, I did try another little strategy and as yet the jury's out on that one too as I had mixed results. So, into a new week, I know more than I did last week, and slowly slowly is the plan, hopefully in the right direction and hopefully in a better mood than I was last Monday (hence my rather depressing post).

Tuesday, 4 August 2009

Sassafrassarassum Rick Rastardly

Feel a bit crap today. Tired I think of banging my head against the wall trying to make some kind of money in this trading lark. Last weeks 6 day hall from trading the horses was a loss of just over £5 - a stunning performance in terms of reducing my losses but still a long way off the the £100 a day I was told an 'average' trader should make a day. Maybe I'm just a crap trader, or maybe I was just told a little Porkie.

Anyway, decided to have a go at the football yesterday, so thought I'd do a bit of research into the Hamburg cup match last night. Hamburg odds on. I'll back them and then lay them as soon as they get in front, can't be difficult that can it? Form points to Hamburg, forums are screaming Hamburg. Result 2-2 at 90 mins, and Hamburg never in front. There endeth my football trading career for now.

So, how to make money at this game? I mean from trading and not training. We all know it's not easy, but how many are actually making a living? Not too many I don't think, and the ones that say they are making £000's are suddenly diversifying into other things or taking breaks. Hmmm...

Maybe I should go back to bed, I sound like (and feel like) I've got out of the wrong side this morning.