Friday, 23 January 2009

Much Better

After yesterday's angry rant, and I apologise for anyone who read that!, I realised that I had merely been getting frustrated with myself for not following the plan that I had previously set out. Therefore, I opted to trade tonight's football match between Derby and Notts Forest.

I decided to be more controlled although instinctively more aggresive, but in case things went wrong, I opted to reduce my stake size to £10 per trade.

A £10 loss doesn't sound good on paper, but it may have been the best result possible in a weird sort of way. I honestly felt that this was the best I had traded all year. In the first 30 minutes, I had close to 20 succesful trades on 0-0. I got my backs in early enough to be matched but late enough so that they were not then stuck at the same price for a while, and by using smaller stakes, I was able to take advantage of price increases upon corners / attacks which, whilst increasing the chance of a goal, still carry a small chance only.

I had just achieved a £10 profit, 100% of the stake size, on any result when things went wrong. The price went up from 5.3 to 5.7 / 5.8 and I managed to get matched twice. Then a goal came. The weird thing was, I had no complaints with this. I had tried to take advantage of a situation which would more often than not result in a healthy profit, but I got burned. That will happen and in a way, having my first football original stake loss will be beneficial. My strategy will only work if I can acknowledge the possibility of losing, and tonight I did.

Indeed, I was then able to get back to -£6 when Notts Forest equalised, which was even more pleasing, although having had enough of the game, my decision to transfer all my red onto the current score did not work, and I ended up with a total loss of £-10.

However, I have always said that this month is primarily about learning and trying new ideas. If they come off great, if not, that's fine. Obviously I have not tried too many new ideas, but I feel that I made a big step forward today, even if I was unnecessarily nervous at times, which is still something to work on.

I am now -£7.92 for the month, but am hopeful of being able to break even by the end of the month, when the sport that I had most success on last year, Rugby League, starts, and am looking forward to doing some more trading this weekend.

No comments:

Post a Comment