1k this month ?

[lcredd]

I thought I'd do a trading log to see if it helps me with my discipline which has let me down over the last couple of days. I've been trading for a couple of years and am confident I know what I'm doing, and I know when I'm doing it wrong. I've only made 1k in a month 1 or 2 times before, but since my in-play trading has improved I thought it would be easy this month. Now I'm not so sure.

date-------daily P/L-------running total

Jan 1_______ 139.86
Jan 2______ - 38.77
Jan 3______ - 81.94
Jan 4_______ 73.79
Jan 5_______ 64.43
Jan 6______ 129.18
Jan 7______ 212.38
Jan 8______ 107.91
Jan 9______ 152.20
Jan 10_____ 133.97______ 893.01
Jan 11____ - 370.55
Jan 12_____ - 46.49______ 475.97


Jan 11 was the day I went in with no strategy and a sense that whatever I did would win. Even laying horses in-running with no exit plan:
Hunt 11th Jan : 2m Hcap Chs 11-Jan-13 15:20 -103.03
Sedge 11th Jan : 2m Hcap Chs 11-Jan-13 15:10 -223.22

I'm hoping I know the reasons for these big losses and it wont happen again, needless to say I'm not on cloud 9 anymore.

Anyway, 1k is still in reach, so wish me luck.


Cheers

Leroy

[valve]

I'm hoping I know the reasons for these big losses and it wont happen again

Many of us here know that, the hardest part is to really not let it happen again.

Good luck mate!

[shadowninja]

Discipline issues...

[lcredd]

Discipline issues...

It's always the case. But to be honest I never expected to be £475 up and feel disappointed. I'll admit I got carried away thinking 'I could make £3000 this month, £36000 by the end of the year. New car here we come!'

Back to reality now though. I'm going to try not to think of the P/L too much and just make good trades. Any green is good.

[Morgans Choice]

Good Luck I,

my ultimate target is £3k per month (average) which is your £36k in the year, but realistically I don't think I'll ever make more than £1.2 per month,

cheers, MC

[Ted]

Incredd,
you mentioned comparative biggish lay loss, but didn't explain what happened. If we lay a short evens fav, in run & it falls, good crack, but if we have layed anything else it halves in price.

Do you have a getting out strategy ?

[lcredd]

I got into the habit of only laying low odds (2 - 6) for between £20 and £50 depending on their odds, and getting out quickly if it went wrong. But that day I just didn't think. I started off badly and wanted to win it back quickly. I laid for £100 at around 3.5 and watched it drift a bit before coming back, and when I should haven taken a loss, I let it run to 1.01. The quickest way to the poor house. Did it again on the next race.

My focus today will be on damage limitation, quick exits, and hopefully a profitable day.

[lcredd]

Jan 13 - - - - p/l 17.11 - - - - this month = 493.08

Any green is good!

I did my best to throw it away in-running. Wolverhampton 13.00, I was £18 up pre-race but finished -£5. Wolverhampton, 2.30, £-63: I laid Red Dragon for £5 around 14/1, far above my planned odds, he went to 90 before beating the leader who traded at 1.01.

All in all, happy to make a profit, disappointed at my in-running play. I did have one eye on the footie as well which didn't help.

I think posting it on the forum does help you keep focus, but I wasn't looking forward to posting -£40.


Cheers guys

= = =

Horse Racing: £17.11 Total P&L: £17.11

Horse Racing Showing 1 - 20 of 20 markets
Market Start time Settled date Profit/loss (£)
Horse Racing / Wolv 13th Jan : 1m4f Hcap 13-Jan-13 16:00 13-Jan-13 16:04 20.62
Horse Racing / Kelso 13th Jan : 2m7f Hunt Chs 13-Jan-13 15:50 13-Jan-13 15:57 -0.41
Horse Racing / Navan 13th Jan : 2m INHF 13-Jan-13 15:45 13-Jan-13 15:51 2.28
Horse Racing / Wolv 13th Jan : 6f Mdn Stks 13-Jan-13 15:30 13-Jan-13 15:33 -0.38
Horse Racing / Kelso 13th Jan : 2m7f Hcap Chs 13-Jan-13 15:20 13-Jan-13 15:27 13.52
Horse Racing / Navan 13th Jan : 2m4f Hcap Chs 13-Jan-13 15:15 13-Jan-13 15:24 10.66
Horse Racing / Wolv 13th Jan : 5f Hcap 13-Jan-13 15:00 13-Jan-13 15:03 9.23
Horse Racing / Kelso 13th Jan : 2m6f Hcap Hrd 13-Jan-13 14:50 13-Jan-13 14:57 -3.06
Horse Racing / Navan 13th Jan : 2m1f Beg Chs 13-Jan-13 14:45 13-Jan-13 14:51 4.81
Horse Racing / Wolv 13th Jan : 7f Hcap 13-Jan-13 14:30 13-Jan-13 14:32 -63.69
Horse Racing / Kelso 13th Jan : 2m1f Hcap Chs 13-Jan-13 14:20 13-Jan-13 14:26 -1.37
Horse Racing / Navan 13th Jan : 2m7f Mdn Hrd 13-Jan-13 14:15 13-Jan-13 14:22 5.12
Horse Racing / Wolv 13th Jan : 7f Hcap 13-Jan-13 14:00 13-Jan-13 14:06 3.84
Horse Racing / Kelso 13th Jan : 2m6f Nov Hrd 13-Jan-13 13:50 13-Jan-13 13:57 0.28
Horse Racing / Navan 13th Jan : 2m Hcap Hrd 13-Jan-13 13:45 13-Jan-13 13:50 0.91
Horse Racing / Wolv 13th Jan : 1m Hcap 13-Jan-13 13:30 13-Jan-13 13:32 12.35
Horse Racing / Kelso 13th Jan : 2m7f Nov Chs 13-Jan-13 13:20 13-Jan-13 13:27 3.01
Horse Racing / Navan 13th Jan : 2m Mdn Hrd 13-Jan-13 13:15 13-Jan-13 13:20 2.11
Horse Racing / Wolv 13th Jan : 1m1f Hcap 13-Jan-13 13:00 13-Jan-13 13:03 -5.26
Horse Racing / Kelso 13th Jan : 2m Nov Hrd 13-Jan-13 12:50 13-Jan-13 12:56 2.54

[dvwooly]

Good going to recover from those losses and keep plodding on and not losing the plot like i used to when going in running. .... :Boom

Like you say any profit is good.

If you can ride out these big losses you must be doing something right.

How do you pick what you bet on, are you watching the races?

[shadowninja]

It's possible that you need to take it more seriously and stay focused. It's the equivalent of stacking shelves in Tesco, and for no reason turning round and punching a customer in the face. Probably.

[dvwooly]

if want to make £12k a year you might want to lay EVERYTHING these people tip up .... profit to Betdaq price over the last 5 years .. £50 stake


The Star (Patrick Weaver) -£101,120
The Sun (Templegate) -£103,620
Racing Post (Postdata) -£106,293
The Irish Times (Capt John) -£126,641 evil
The Mirror (Newsboy) -£128,337 :Naughty
Irish Independent (Capt Keen) -£143,190 :Naughty
Racing Post (Spotlight) -£158,714 :Naughty

total £760,755 profit for the layers before commission to Betdaq prices.

and if you ignored the NAPS you would make a bit more

Irish Independent (Capt Keen) +£1,641
The Star (Patrick Weaver) +£1,549
The Times (Rob Wright) +£1,546
The Irish Times (Capt John) +£960

the interesting thing for me is that racing post spotlight is a joke ..... how many betting shop punters blindly pick their selection?

[dvwooly]

the source of the data is here ... just go to tips table to find the historical results

http://www.besttipping.com/betdaqtipcheck/

[lcredd]

I watch the races a bit, but try to listen to them closely. It didn't help that I couldn't hear very much today cuz the kids are being very noisy, lol.

It's the big losses that stop me from having a really profitable month. I take comfort knowing I can stop them, although this is the 3rd day in a row I've thrown it away.

I've got to focus on the big losses and all should be well. At this point I'll be delighted to be £750 up at the end of the month (or even just £500).

Working at tesco's for a guaranteed 1k would be far less stressful, but I like watching the sport channel all day

[bazbaz]

You trade every single day?

Personally I could never maintain form day in day out every single day without it affecting my performance from time to time, no sportsman could

[lcredd]

Yeah, you're probably right. I like the idea of 20hrs per week. I'm usually more profitable during the week rather than the weekends. If, and it's a big IF, I have a decent week this week I might take the weekend off. Last Friday and Saturday my trading could only be described as suicidal.