Quick Post

Just a quick point of note after my earlier post from today:

On more than one occassion today a large amount of money was smashed through the market, around 1k, but not placed onto the ladder but literally smashed through it.

After my blunders from before i thought i'd trade a few more races and was trading a favourite using £50 stakes. Some total mentalist smashed 1k through the market and took a range of prices from about 2.00 all the way down to 1.80. but why not just leave it in the ladder and get constantly matched at a much better price? It cant be a trader or someone with knowledge of betfair, if it is then they're throwing easy money away by jumping in so hard.

Its nice when this happens because if you have money out of the trading zone and in nice positions it gets taken.

Annoying

Annoying is the theme of the day, what started off as a great few races traded ended up in total disaster, mostly due to the muppet being back in action with his whopping wedges that push the markets all over the show.

I’ve been trading looking at the price range, trying to get matched at the top of the price bands and paying close attention to what the ATR site says the odds are and comparing them to the odds on BF. I've also upped my stakes to £10 now to try and make myself more disciplined.

But my arch nemesis muppet jumps in with massive amounts of cash totally controlling the market and somehow always pushing it against me. I backed at 4.0 as the ATR odds were 5/2 and then the muppet appears on the lay side with about 750, the money was pushed further and further out and i took more at 4.2 & 4.5 thinking that it will eventually come back but no. Then I trade out at a massive 5.0 and the ATR odds hadn’t changed at all.

I should try and think about how to use it in my favour

“Every problem has a gift for you in its hands” Richard Bach, American Writer

But when I don't know how long it will stay in the market, I could get myself into an even worse situation if i trade using it. Suppose I should look out for major blagg money and just avoid. After tonight its Bradders 0 – 1 The Muppet.

Not much Discipline!

Well my trading has been a bag of confusion and more school boy errors lately. I’ve been putting off blogging as something always goes wrong which I'm annoyed at which I feel I'm not in control of, when the bottom line is I am.

I'm still trading too keen, mostly by getting involved when I don't have live feed which I swore I wouldn’t. The US markets can go off at any time at all, so when the timer is over 0.00 or even close to it I should only be watching the trading and not dabbling myself, it’s like having a gigantic “DO NOT PUSH” red button right in front of me, I'm going to want to push it!


But I'm still learning, and every time I win or lose I ask myself why, what went right or what went wrong. I have to remember that that's the aim for now.

Some points of note I’ve learnt over the last few days:

In the US markets a wedge of blagg money can hold it in any place, one race had 750 sitting at 4.5 when its surrounded by 10’s and 20’s so it was obviously blagg. As I thought nobody wanted to touch it, I traded the other horse and looked back after about 30 seconds and it’s gone, with the price down to 3.5. It’s too risky to take a bite out of it as it can have such an influence, if it’s YOUR money I'm taking about then please SOD OFF!!!!

Exit positions must always be decided, I made a great entry and watched my green jump up to about £2 off a £10 stake. Feeling well happy with my entry I just watched and watched, simple quick reverse bounce occurs and I can see my green zone being chomped away at, I felt like I had lost money! I ended up trading out for a poo 9p, so I must always be happy with what I get. Holding onto a rising green not only leaves me out of trading as I'm only watching, but affects your frame of mind when you see the reversal.

And bounces can happen at any time, maybe that's something I will concentrate on, instead of trying to get onto a swing I’ll try and catch the bounce instead!

Many thanks to all that have read my blog so far, hopefully as I improve so will my stakes and it’ll get more interesting.

Back Again........Again!

Back yet again! There have been a number of hiccups with me getting into trading:

• 17 stitches into my hand literally a day or two before I subscribed to the Sports Trading Journey,
  

• 3 months of physio, on my right hand which I trade with,

• Being unable to figure out why my Geeks Toy wouldn’t connect and taking about a week to get around it,

• Refusing to trade without live feed, that took another few days,
  

• Then my skybox blew!

All is up and running now so can concentrate on trading as often, although not very heavily, as possible. Just want to do a decent hand full of races every nite and try to get in the “zone” a little more when I'm in practice. Another alright day with the trading and I'm getting good at entering, then not bothering about the result, but watching what happens with the surrounding information and reacting when i feel it is right, in profit or not. Already think I'm picking up small tweaks you could say. A few years ago after attending Peter Webb’s Bet Angel course my results were all over the place with zero consistency, now I’ve hit 11 races in a row in profit and most of them have been genuine good moves without luck, I think!!

Live feed definitely has an impact on what your watching in terms of the info on GT. There was a horse trading at around 2.5 on the exchange and 5/4 on the betting lines. The commentator starts complimenting the horse and how it has a good chance of winning and over the next few moments the horse was smashed down to its lowest trading price of 2.2 which is 5/4. I'm still partially amazed about how certain prices just won’t get touched, the horse flew down to 2.2 so fast but then stopped immediately. I wonder how many active traders there are out there. I'm starting to think that the key is not to figure out what to do next, but what I SHOULD do, If I think like a trader. Maybe that's why:

• Big clumps of money sometimes don't get touched because other traders are weary of it

• Price bands sometimes don't get broken because traders don't want to
  

• Steams happen so fast as a small bit of info is released which gives the pro’s an inkling

All of which i'll be thinking about next time i trade

RANT OVER! BRADDERS BACK IN ACTION!

Until my dog eats my t.v.

Clean Sheet!

Well my skybox has blown out, so as I swore that I’d never trade without live feed my evening racing is again on hold. Managed to get a good few races today at Doncaster and Kempton and I'm very happy with my results!

Finally hit a clean sheet and brought in a 6/6 result! I'm starting to watch what’s happening around me more instead of entering the market as often. When you place a back/lay you concentrate so hard on hoping it goes the right way, then debating whether or not to exit and then the old “well if it goes down a few more ticks my profit goes up by so much” but you’re not learning anything. With stakes the size that I'm using I should enter and then watch what’s unfolding in the market, otherwise I won’t be able to recognise the Déjà vu situations that I can profit from in the future.

The point I'm trying to make is that for now, making profits now is the second priority, understanding the markets is the main aim, I can’t let the feelings I get when I'm trading to get in the way of experience. Wining 50p off a £2 stake sounds good but if you learnt nothing in the process then it was pointless.

So I'm a happy chappy after my trading today, and looking forward to hopefully trading another 6-10 races tomorrow. I'm also upping my stakes to between £2 and £10 pending what the horses odds are, this also ups my concentration and makes me be more selective.