Quick Update

Hey guys,

Just a quick update to say sadly i won't be able to trade for a week or two due to work, i'm hoping to get back soon if my schedule doesn't get changed again. It's a little unfortunate since i was doing ok and was hoping to keep the momentum... Well i guess i could still do the US races or the greyhounds but i have close to zero experience on them so it would be me more likely that i would just lose some money until i got a grasp of the markets, but that's not really what i'm looking for.

I might be able to trade a few races some days but can't really be sure for now.

See you soon.

11/06/2013

Another great day, the best so far.

I'm now trading as much in live as in pre-live that's why i'm having such a good evolution these last couple of days, but it won't continue like this for long since there's a limit to where i can raise my stakes in the underdogs.

I did feel i trade well today since i don't even remember any big mistake, i mean, i'm sure i did many mistakes, but the fact that i don't even remember one probably tells me they were only small and normal mistakes, nothing worth mentioning. Only had a small loss (-0,51€) today which was great, if it only were like this every day... I did have a nice trade in live in one race that gave me the best green of the day (4,86€), this usually happens almost every day i'm sure, i do sometimes notice this situations and try to take advantage of it if the market allows it, just need to be sure i'm not on the wrong side of this, if you're wondering what it is let me just say i love when jockeys have very similar clothes...

Results:

11/06/2013: +37,31€
Markets: 30
Market Average: 1,24€
Greens/Reds: 29/1
Actual Bank: 124,28€

10/06/2013

Today was a very good day for me, only had one red and it was a very stupid sort of double mistake, first i didn't notice i was trading in an IRL race, so i forgot to lower the stakes since the liquidity is lower in this races, when i noticed my mistakes i was down almost 1€, and then still in the same race it wasn't exactly a mistake but the stream was with a few seconds delay, the horses were still loading in the stream and suddenly the race went live leaving me with a couple stakes open, managed to exit with -1,96€, it wasn't too bad considering the situation but i need to be aware of this so it won't happen again, i actually almost always refresh the stream a few seconds before the off to try and cut the delay to a minimum but i guess i can't do nothing about it when the delay is this big, well on the positive side it was the only red of the day so i can't really complain.

Today i did trade a lot more in live taking advantage that my bank although still small, now allows me to trade live since i don't have to stick to just back/lay anymore, i think half of my profit from today was made in live.

All in all it was a very good day.

Results:

10/06/2013: +27,37€
Markets: 26
Market Average: 1,05€
Greens/Reds: 25/1
Actual Bank: 86,97€

09/06/2013

Slow day today, not many races to trade.

Continued with the same approach, scalping the underdogs, got caught in one race where i had the biggest red of the day, it was one delayed race where someone kept pushing the market up, i pretty much saw it coming, just was too slow and hesitant to take a loss, when i finally did try to close it, still jumped up again, ended up a bit frustrated with myself, could and should have closed it earlier, costed me (-3,28€).

Results:

09/06/2013: +7,11€  (+ 71,10%)
Markets: 18
Market Average: 0,40€
Greens/Reds: 16/2 (88,89%) (11,11%)
Actual Bank: 59,60€

 

08/06/2013

Today was a good day, only had 3 small reds.

Not much to say, i traded with 2€/3€ stakes again, i was caught a couple of times on a somewhat big drifts, one of them was the biggest red of the day (-0,67€), the other one i remember i was with about (-2€) but i was noticing signs that the market would still come down a few ticks, so i took my chance and still managed to take a small profit, could have easily been wrong and made the red even worst but it went ok for me.

These first days went very good, my bank is growing, it's always good to see our bank getting bigger everyday even if it's just by some small amounts, for now i'm just hoping to continue like these first days, maybe when and if a get a to a bigger bank i might start to try other approaches to the market, but that's still a long way down the road so let's stick to this patience game for now.

Results:

08/06/2013: +15,13€  (+ 151,30%)
Markets: 38
Market Average: 0,40€
Greens/Reds: 35/3 (92,11%) (7,89%)
Actual Bank: 52,49€

07/06/2013

Contrarily to what said yesterday about continuing with 2€ stakes for the next few days, today i've used 2€/3€ stakes depending on the odd i was trading at.

Today not being tired from work as it was my day off i felt i was much more focused and not making as many mistakes as normal, the day was going great, only had 1 small red (0,17€) until by the late afternoon, some trader remembered to overstake the underdogs and push the odds way up as he pleased a few seconds before the off, i got caught twice and then once more when i thought he add already left the markets(or changed strategy), like i said those were 3 big reds (1,56€ / 1,69€ / 1,62€), if it wasn't for these it would have been a great trading day for me, unfortunatly this is part of trading and we have to deal with it, on the positive side i kept my trading the same, didn't lost my focus or chased those reds, something that in my early days of trading i would probably have done...

I had a good start, hoping the rest of the month continues like this.

Results:

07/06/2013: +14,16€  (+ 141,60%)
Markets: 50
Market Average: 0,28€
Greens/Reds: 46/4 (92%) (8%)
Actual Bank: 37,36€ (+27,36€)

Well We All Have To Start Somewhere

Well we have to start somewhere am i right?
To anyone who might be reading this and relates himself with this sentence, this thought is for you

I know it is hard to have such a small bank, it seems like it doesn't even worth the effort of being so many hours a day in front of a computer "looking at numbers going up and down"as someone says... Altough this is true i think we do have to start somewhere, in almost any job you might apply in your lifetime you'll probably have to start from the bottom, so try to see it from this perspective, if you want to get to the top you'll have to study, learn (a lot of times through trial and error), and show what you worth.
Unlike real life jobs where even if you are good at what you do, you might still not get promoted, ever... At betfair if you are really good in what you're doing , then you are actually promoting yourself, you don't have to depend on anybody noticing how good you are. So i guess it's up to us to find what motivates us everyday so we can learn from our mistakes and get better for the next days. Find what motivates you, and think of that everytime things are not going well, it works for me.

Ok moving on,

Today i missed the first few races of the day due to work.

Like yesterday it didn't went great, but also didn't went too bad i guess.

The first few races of the day went really well, but after a couple of hours i started making many mistakes, i let one race went in-play and it costed me a somewhat reasonable red considering the bank size, i think that red was the trigger for many of the following mistakes i did, my in-play trading also wasn't very good today, many bad entry points costing me a few small reds. By the end of the day i got back to normal and things started flowing again.

As for the pre live it went ok, although i was caught in a couple of big swings against me because i was too slow to react.

I'm still trading the underdogs with 2€ stakes and will continue for a while, might raise the stakes a little bit if and when my bank grows a little more, but for now i'll have to hold on to the 2€ stakes and try to find the daily motivation and focus needed to trade the best i can.

Results:

06/06/2013: +6,06€  (+ 60,60%)
Markets: 37
Market Average: 0,16€
Greens/Reds: 31/6 (83,78%) (16,22%)
Actual Bank: 23,20€ 

So it Begins...

First day is now behind the back, can't say i'm satisfied with my trading, can't say the opposite either...

What do i mean?

Well i can't complain about the final result, i ended up much better than i was thinking before the day started, but i did made some common mistakes, 2 races i didn't notice the race was about to start and let a stake went in-play... The first one conveniently(not for me) the odd just sky rocketed in 2 seconds leaving me with a -1,46€, which was the biggest loss of the day... Other then that i also wasn't fully concentraded from time to time, i find it very hard to maintain focus level at maximum throughout the day mostly because i don't find much motivation in earning a few cents p/ race ,but i'm working on it(motivation). I'm also trading while being tired from work, but can't do anything about that.
This probably costed me a few small losses during the day but no big deal...

I traded the underdogs with 2€ stakes, always Back/Lay and i went to live in a few races aswell, although i'm only looking for a small 1/2 ticks profit in live since my bank it's so small at the moment that losing the ocasional stake can make a big difference in the overall bank (20% at the beginning of the day).

Results:

Starting Bank: 10€
05/06/2013: +7,14€  (+ 71,40%)
Markets: 43
Market Average: 0,17€
Greens: 36 (83,72%)
Reds: 7 (16,28%)
Actual Bank: 17,14€

Well that's all for today, let's see how tomorrow goes.

VedderPT

Getting Ready

Bank - 10€

Yes, this is going to be my starting bank.

I haven't set any goals for now, i'm just going to go day by day and see where it goes from here, let's just say i'll be happy if i'm in profit by the end of the month...

With this tiny bank i'm probabbly going to be trading the underdogs and try and grab a few cents p/day... Hope i don't get bored to death cause i know how disencouraging it is to be trading a few hours and only netting a couple cents, or even worst, loosing money...

So with this in mind i'll be looking to self motivate me tomorrow before the trading session, maybe set up a playlist with some motivational songs... Might do the trick...

Wish me luck

Small Introduction

Hello World,

Just a small introduction, i'm VedderPT, a portuguese noob horse trader, i have about 10 months experience but with some interruptions along the way, so it's probably more like 5 months experience, i still consider myself a noob since i still think i have a LOT to learn...

So this blog is going to be my personal diary, for me and whoever wants to follow it, i've decided to create it and expose my results so i can keep trying to learn with (hopefully) visitors advices and also because by exposing my results i feel i will probably won't make as many errors as i sadly tend to from time to time...

I usually trade the underdogs, pre live and live.

At this moment i'm currently working so since i won't be able to be at 100% i'm just going to start with a very small bank and try and go up from there.

Any questions or doubts feel free to ask me.