Oops I did it again

Profit since last post: -28.95
Total P&L: -26.5

My words had not left my mouth yesterday or I was already trading horses again. I had read the articles and watched the videos of Adam Todd and was very confident that I could make money on horse now as well. And in fact I could, my bigges loss, actually came from two giants mistakes, where I wanted to scratch, but then backed in stead of layed. When I wouldn't have made these two mistakes my loss would have been €20 less. The other two losses came from two race where the favourites were odd on, and volatility went bezerk.

Lessons learned:

1. Move the mouse over to the other side of the ladder when you have made a bet
2. Don't trade in markets where the favourites are odds on
3. May be trade the second favourite in the markets where point 2 applies
   

No more horses for now

Profit since last post: -10.25
Total P&L: 1.65

As you can see the last day I made a nice loss, mainly due to my betting on horse races. I just cannot get the hang of it. I make very small profits and then lose big on one race to wipe out the small wins and some more. I don't like this psycologically and therefor I decided to stop trading horse races and concentrate on other sports mainly football. Whithout horse racing I would have made a plus of about 13 euro.

Yesterday I traded the Bundesliga match Duisburg vs. Bochum; a Ruhrgebiet derby. Since both teams are mediocre to say the least, I figured the chance of a 0-0 tie would be big and I layed the over 1.5 goals market. During the first half Bochum scored 0-1. In the 85st minute, when I was just about to get out, Bochum scored again and I lost €2. I then backed the under 2.5 goals in the last minutes and won €6 so I made a small win on this match.

I also made a very small profit on a snooker match, just to try something out. I layed O'Brian in his match against O'Sullivan. Could get out with a win, just before he went on winning the match.

I have a gift

I don't know what to do with it, but it seems that I have a gift. I can turn markets! The last two days I noticed things that I already had noticed before. Unfortuneatly this gift is, however, somewhat self destructing.
Yesterday and today I was trading horse races. When I entered a market when the prices had not been moving for a while, the instance I entered the market, it turned against me massively, not once, not twice, but at least at 6 occurences.
Yesterday I was trading footbal as well, as I decided to back under 3.5 goals in the Barcelona vs. Rangers, but as I miss clicked Man. United vs Dynamo was selected and I did not notice it and just an instance before the 3-0 I backed the under 3.5 goals and faced a loss of €10.
Then today I decided to back under 3.5 goals in the game between Bayern München vs Bolton just a split second before the Bavarians scored their second goal.

Can anybody tell me how to turn this gift in my advantage?

So far so good.

Profit since last post: 11.85

Didn't trade much last days, actually only some horse races on Saturday were I made a small profit. Here I was both lucky and unlucky at the same time, because I layed the favorite accidentally for €100 in play, because I forgot to change the amount in my trading software. I could get out however before the bet was matched. I felt very lucky, of course, but at the end of the race the odds started to drift and the favorite came in second, so I could have won €100 accidentally. :(
Saturday I also traded Arsenal-Manchester United, traded the under 1.5 goals and 2.5 goals for a profit and also in the 3.5 goals I was all green on under 3.5 but over 3.5 I left 0.00, so when Arsenal scored in the very last minute my profit here vanished.

Yesterday I traded the Champions League and made profits on all markets I traded, mainly trading under 2.5 goals and on some games the under 3.5 goals. Then I made a very good decision trading the under 3.5 goals in the last minutes on Lazio v Bremen. I wanted to back the under 2.5 goals, but I then decided to back the under 3.5 goals, this was very lucky because the moment the bet was matched Bremen got a penalty and scored.

The first post

A few month ago I stumbled on something I was up until then unfamiliar with; Betfair. Of course I knew that is was possible to punt through the internet, but that it was possible to also bet for an outcome not to happen was new to me.

So I put up €500 and already the first day I lost 400 of them, on a football match; I layed the correct score market any unquoted, but the final score was 4-0 so only 100 was left in my account.

The I started to trade on horses, with changing success and I was never able to get over €150 and jo-jo'ed up and down the 100-150, until I messed up completely last Thursday, thought I needed to close a trade, which I didn't open in the first place so I was left with €25. These final 25 I then lost in a desperate attempt to chase my losses and I layed a horse 10/1 which of course came in first.

So now that I lost my tuition fee it is time to start all over with a bank of €200 and strict bankroll management. I started this blog, just to keep me on track and to reflect on the trades I made.

Here are the rules I stick to:

1. Total exposure may never exceed 10% of the roll
2. My target will be to make a profit of 30% a month, which is approx. 1% a day
3. Keep complete track of all the trades made, and analyze them to learn
4. Post in this blog at least once a week

Having these rules I am sure I am going to succeed and build a bank that is worthwhile!