Tuesday, 29 March 2011

Back to Reality

I decided to take last week off after a great Cheltenham. According to the Bet-angel forums it was a tricky week on the trading front and with the great weather we had in London It was a good decision to leave it alone. There was one day where I finished playing golf by 2pm and I was tempted to race back to the office and trade but I stuck to decision and went back to the first hole to work on my handicap instead. I think it’s important to take time out and recharge, trading is intense and can slowly wear you down without you realising.
Shot of the day
(This almost never happens!)
It took me a little longer to adapt to the big meeting this year. It’s no surprise really as I was experimenting with Betdaq for half of the Cheltenham races, something I’ve never tried before but by the third day I was flying and had my best two days in over a year. Betdaq markets are a different beast. Although they follow Betfair very closely in terms of prices they can feel very illiquid in contrast to Betfair and the fill rate frequency is lower so a different approach is needed. 
It’s a shame but I do try not to get excited or have any kind of opinion on the horses even in these big races. At the end of the day my edge isn’t form/opinion based and if I started to mix this into my trading it would just be plain gambling.


Monday, 14 March 2011

Adapting to Big Meetings

This week see's the first Major meeting of the year at Cheltenham. I always look forward to tackling these markets as they are very different to normal race cards. There seems to be bit of a "marmite" feeling amongst some traders with these and depending on your trading style it might be quite tricky for you especially if your expecting too much. My advice is to take it steady on Tuesday and feel your way into things slowly. You dont want to do what i did last year and have a negative start. I wasn't totally prepared for this type of market and ended up having to fight back Cheltenham losses on the weaker cards which made for some nervous trading on day one. As the week went on I got used to the bigger volumes and became much more patient in "slow motion" markets. The only nerves i may face this year are if Betfair crashes and i have to make a counter trade on Betdaq, but that's another story that frustrates me so much i dont talk about it.

My preparation for Cheltenham this year has simply been to stick to the goals i set in January. One of these goals was to try and go 25/50/100 races without a losing race. I have now achieved two of these targets and although I may not be making as much profit were I to take more risks the benefits I'm feeling elsewhere are  outweighing any thoughts of P&L. It has helped me become much more confident in my trading again after poor end to last year. I almost feel Invincible in the markets and working towards these goals is helping to eliminate some of the bad habits and weaknesses that had crept into my game

50 Not Out

Fingers crossed Betfair can prove us all wrong and hold up this week. Good luck everyone!