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A bit more of an in and out day today after a couple of weeks plaing sailing. In the end ythough, after looking like it might be the first losing day, I managed to reverse the deficit and ended up with a record winning day.
Early part of a busy day went well with a succession of small profits on half a dozen or so races. Then I got a bit complacent and overstretched myself by going against my usual M.O. and trading 2 horses at the same time in the Eider Chase. I managed to lay one of them off in running but had fancied the favourite to run a big race, backing him beforehand with a view to laying him at a shorter price in running. However I never got an opportunity as he was never trading anywhere near the price I’d backed him at.
Next bet went awry too as I backed Isan, again looking to lay off. Almost as soon as I backed him he started to drift and while he ran reasonably well for a bit once again he never traded at a price where I could lay off.<br>However, just when all looked lost, an extremely profitable (relatively) trade on Limited Edition, winner of the 4.15 at Kempton wiped out the losses and more besides. I stopped after that as I had the feeling that enough was enough.
Lessons today –
Stick to the winning method (i.e. focus on one horse per race at a time in my case)<br>Don’t get disheartened – if the method works then don’t let the inevitable reverses affect your discipline.<br>Know when to stop.
Profit on day – £8.71 (best yet!)<br>Total bank – £131.19<br>Target – £117.17<br>
Back today and a £4.93 profit on the day. Relatively solid day, closest shave was when just managed to unload Debut before he fell away like a stone.
Anyway – I’ve decided to copy/paste my Betfair trades on this account for all to see what I’ve done.
Going well – 9 weeks and a profit each and every week. At this rate I’ll be a millionaire by, er, 2032!!
(Add on £0.34 to the balance as I started out with £99.66 rather than £100)
Today’s trades (last week’s finishing total at the bottom – sorry about the gobbleydook nature of it)
2007-03-10<br>15:51 3017704249 2007-03-10<br>15:47  GB Sand 10th Mar / 15:45 2m NHF <br>Comm Charged 5% On Net winnings of GBP0.2 – – – (0.01)  135.78
2007-03-10<br>15:51 3017704249 2007-03-10<br>15:47  GB Sand 10th Mar / 15:45 2m NHF / Debut <br>Lay 3.20 6.80 Won  3.20 135.79
2007-03-10<br>15:51 3017689104 2007-03-10<br>15:45  GB Sand 10th Mar / 15:45 2m NHF / Debut <br>Back 3.00 8.00 Lost (3.00)  132.59
2007-03-10<br>15:17 3017465036 2007-03-10<br>15:13  GB Sand 10th Mar / 15:10 2m Hcap Hrd <br>Comm Charged 5% On Net winnings of GBP2 – – – (0.10)  135.59
2007-03-10<br>15:17 3017465036 2007-03-10<br>15:13  GB Sand 10th Mar / 15:10 2m Hcap Hrd / Forest Green <br>Lay 10.00 7.80 Won  10.00 135.69
2007-03-10<br>15:17 3017256367 2007-03-10<br>14:46  GB Sand 10th Mar / 15:10 2m Hcap Hrd / Forest Green <br>Back 8.00 9.80 Lost (8.00)  125.69
2007-03-10<br>14:45 3017225619 2007-03-10<br>14:42  GB Sand 10th Mar / 14:35 3m Hcap Chs <br>Comm Charged 10% On Net winnings of GBP0.1 – – – (0.01)  133.69
2007-03-10<br>14:45 3017149965 2007-03-10<br>14:31  GB Sand 10th Mar / 14:35 3m Hcap Chs / Reflected Glory <br>Lay 5.60 5.00 Lost (22.40)  133.70 <br> 2007-03-10<br>14:45 3017144919 2007-03-10<br>14:30  GB Sand 10th Mar / 14:35 3m Hcap Chs / Reflected Glory <br>Back 5.00 5.70 Won  23.50 156.10 <br> 2007-03-10<br>14:45 3017225619 2007-03-10<br>14:42  GB Sand 10th Mar / 14:35 3m Hcap Chs / Cousin Nicky <br>Back 0.50 4.20 Lost (0.50)  132.60 <br> 2007-03-10<br>14:45 3017224750 2007-03-10<br>14:42  GB Sand 10th Mar / 14:35 3m Hcap Chs / Howrwenow <br>Back 0.50 2.26 Lost (0.50)  133.10 <br> 2007-03-10<br>14:34 3017119959 2007-03-10<br>14:26  GB Chep 10th Mar / 14:25 3m Nov Hrd <br>Comm Charged 5% On Net winnings of GBP1.4 – – – (0.07)  133.60 <br> 2007-03-10<br>14:34 3017119959 2007-03-10<br>14:26  GB Chep 10th Mar / 14:25 3m Nov Hrd / Mark The Book <br>Lay 21.50 1.80 Lost (17.20)  133.67 <br> 2007-03-10<br>14:34 3017065610 2007-03-10<br>14:19  GB Chep 10th Mar / 14:25 3m Nov Hrd / Mark The Book <br>Back 20.00 1.93 Won  18.60 150.87 <br> 2007-03-10<br>14:23 3017039447 2007-03-10<br>14:16  GB Wolv 10th Mar / 14:20 7f Listed <br>Comm Charged 6% On Net winnings of GBP0.5 – – – (0.03)  132.27 <br> 2007-03-10<br>14:23 3017039447 2007-03-10<br>14:16  GB Wolv 10th Mar / 14:20 7f Listed / Party Boss <br>Back 4.50 3.50 Lost (4.50)  132.30 <br> 2007-03-10<br>14:23 3017033686 2007-03-10<br>14:15  GB Wolv 10th Mar / 14:20 7f Listed / Party Boss <br>Lay 5.00 3.25 Won  5.00 136.80 <br> 2007-03-10<br>14:12 3016979926 2007-03-10<br>14:08  GB Sand 10th Mar / 14:05 2m4f Hcap Hrd <br>Comm Charged 5% On Net winnings of GBP1 – – – (0.05)  131.80 <br> 2007-03-10<br>14:12 3016979926 2007-03-10<br>14:08  GB Sand 10th Mar / 14:05 2m4f Hcap Hrd / Otto Des Pictons <br>Lay 3.00 8.80 Won  3.00 131.85 <br> 2007-03-10<br>14:12 3016972241 2007-03-10<br>14:07  GB Sand 10th Mar / 14:05 2m4f Hcap Hrd / Otto Des Pictons <br>Back 2.50 11.00 Lost (2.50)  128.85 <br>2007-03-10<br>14:12 3016896231 2007-03-10<br>13:56  GB Sand 10th Mar / 14:05 2m4f Hcap Hrd / Otto Des Pictons <br>Lay 5.50 6.80 Won  5.50 131.35 <br> 2007-03-10<br>14:12 3016889125 2007-03-10<br>13:55  GB Sand 10th Mar / 14:05 2m4f Hcap Hrd / Otto Des Pictons <br>Back 5.00 7.40 Lost (5.00)  125.85 <br> 2007-02-24<br>16:22 2978643366 2007-02-24<br>16:20  GB Kemp 24th Feb / 16:15 2m4f Hcap Chs <br>Comm Charged 4.96% On Net winnings of GBP11.89 – – – (0.59)  130.85 (last weeks finishing balance)
So – total now stands at £136.12 against a target of £119.51<br>
Bad start after I back Boyastara seconds before it drifts like Clyde McPhatter. That set me back but the rest of the day goes well. Generally selecting one per race to back and then lay either before the off or, more generally, in running. Interestingly if I’d had let all the bets run today (without laying off) I’d have made hay. (Figures include a single trade I had on Friday at Cheltenham)
Bank now £140.14 against target of £121.90
Todays trades in full
2007-03-17<br>17:01 3040055938 2007-03-17<br>16:55 GB Uttox 17th Mar / 16:50 2m5f Hcap Chs / Alfadora <br>Back 0.15 4.90 Lost (0.15) 140.14 <br> 2007-03-17<br>17:01 3040000639 2007-03-17<br>16:47 GB Uttox 17th Mar / 16:50 2m5f Hcap Chs / Cettis Warbler <br>Lay 3.30 5.50 Lost (14.85) 140.29 <br> 2007-03-17<br>17:01 3039980745 2007-03-17<br>16:45 GB Uttox 17th Mar / 16:50 2m5f Hcap Chs / Cettis Warbler <br>Back 3.00 6.00 Won 15.00 155.14 <br> 2007-03-17<br>16:43 3039906894 2007-03-17<br>16:37 GB Newc 17th Mar / 16:35 2m Hcap Hrd / Tous Chez <br>Lay 2.00 13.00 Won 2.00 140.14 <br> 2007-03-17<br>16:43 3039892199 2007-03-17<br>16:35 GB Newc 17th Mar / 16:35 2m Hcap Hrd / Tous Chez <br>Back 2.00 15.00 Lost (2.00) 138.14 <br> 2007-03-17<br>16:43 3039906893 2007-03-17<br>16:37 GB Newc 17th Mar / 16:35 2m Hcap Hrd / The Ring <br>Lay 2.00 15.00 Won 2.00 140.14 <br> 2007-03-17<br>16:43 3039874510 2007-03-17<br>16:33 GB Newc 17th Mar / 16:35 2m Hcap Hrd / The Ring <br>Back 2.00 17.50 Lost (2.00) 138.14 <br> 2007-03-17<br>16:30 3039813918 2007-03-17<br>16:25 GB Uttox 17th Mar / 16:20 2m4f Nov Hrd <br>Comm Charged 5% On Net winnings of GBP1 – – – (0.05) 140.14 <br> 2007-03-17<br>16:30 3039813918 2007-03-17<br>16:25 GB Uttox 17th Mar / 16:20 2m4f Nov Hrd / Pur de Sivola <br>Lay 16.00 3.50 Won 16.00 140.19 <br> 2007-03-17<br>16:30 3039782345 2007-03-17<br>16:21 GB Uttox 17th Mar / 16:20 2m4f Nov Hrd / Pur de Sivola <br>Back 5.00 5.10 Lost (5.00) 124.19 <br> 2007-03-17<br>16:30 3039706225 2007-03-17<br>16:13 GB Uttox 17th Mar / 16:20 2m4f Nov Hrd / Pur de Sivola <br>Back 10.00 3.15 Lost (10.00) 129.19 <br> 2007-03-17<br>16:14 3039672133 2007-03-17<br>16:08 GB Newc 17th Mar / 16:05 2m Nov Hrd <br>Comm Charged 5% On Net winnings of GBP2 – – – (0.10) 139.19 <br> 2007-03-17<br>16:14 3039672133 2007-03-17<br>16:08 GB Newc 17th Mar / 16:05 2m Nov Hrd / Leslingtaylor <br>Lay 22.00 1.50 Lost (11.00) 139.29 <br> 2007-03-17<br>16:14 3039591759 2007-03-17<br>15:57 GB Newc 17th Mar / 16:05 2m Nov Hrd / Leslingtaylor <br>Back 20.00 1.65 Won 13.00 150.29 <br> 2007-03-17<br>16:02 3039563760 2007-03-17<br>15:53 GB Uttox 17th Mar / 15:50 3m Hcap Chs <br>Comm Charged 5% On Net winnings of GBP1 – – – (0.05) 137.29 <br> 2007-03-17<br>16:02 3039563760 2007-03-17<br>15:53 GB Uttox 17th Mar / 15:50 3m Hcap Chs / Nenuphar Collonges <br>Lay 11.00 5.00 Lost (44.00) 137.34 <br> 2007-03-17<br>16:02 3039450482 2007-03-17<br>15:35 GB Uttox 17th Mar / 15:50 3m Hcap Chs / Nenuphar Collonges <br>Back 10.00 5.50 Won 45.00 181.34 <br> 2007-03-17<br>15:41 3039402135 2007-03-17<br>15:29 GB Newc 17th Mar / 15:30 2m Hcap Chs <br>Comm Charged 5% On Net winnings of GBP1 – – – (0.05) 136.34 <br> 2007-03-17<br>15:41 3039402135 2007-03-17<br>15:29 GB Newc 17th Mar / 15:30 2m Hcap Chs / Barton Sun <br>Lay 11.00 2.80 Won 11.00 136.39 <br> 2007-03-17<br>15:41 3039398734 2007-03-17<br>15:28 GB Newc 17th Mar / 15:30 2m Hcap Chs / Barton Sun <br>Back 10.00 3.00 Lost (10.00) 125.39 <br>2007-03-17<br>15:36 3039361371 2007-03-17<br>15:24 GB Uttox 17th Mar / 15:15 4m1f Hcap Chs <br>Comm Charged 4.8% On Net winnings of GBP1.25 – – – (0.06) 135.39 <br> 2007-03-17<br>15:36 3039361371 2007-03-17<br>15:24 GB Uttox 17th Mar / 15:15 4m1f Hcap Chs / Newbay Prop <br>Lay 6.00 5.00 Won 6.00 135.45 <br> 2007-03-17<br>15:36 3039352129 2007-03-17<br>15:23 GB Uttox 17th Mar / 15:15 4m1f Hcap Chs / Newbay Prop <br>Back 5.00 6.80 Lost (5.00) 129.45 <br> 2007-03-17<br>15:36 3039324571 2007-03-17<br>15:19 GB Uttox 17th Mar / 15:15 4m1f Hcap Chs / Nil Desperandum <br>Lay 5.25 6.80 Won 5.25 134.45 <br> 2007-03-17<br>15:36 3039087155 2007-03-17<br>14:51 GB Uttox 17th Mar / 15:15 4m1f Hcap Chs / Nil Desperandum <br>Back 5.00 7.20 Lost (5.00) 129.20 <br> 2007-03-17<br>14:54 3039023113 2007-03-17<br>14:44 GB Uttox 17th Mar / 14:40 2m6f Hcap Hrd <br>Comm Charged 4.73% On Net winnings of GBP1.48 – – – (0.07) 134.20 <br> 2007-03-17<br>14:54 3039023113 2007-03-17<br>14:44 GB Uttox 17th Mar / 14:40 2m6f Hcap Hrd / Michael Muck <br>Lay 6.20 5.60 Lost (28.52) 134.27 <br> 2007-03-17<br>14:54 3038954281 2007-03-17<br>14:36 GB Uttox 17th Mar / 14:40 2m6f Hcap Hrd / Michael Muck <br>Back 5.00 7.00 Won 30.00 162.79 <br> 2007-03-17<br>14:46 3038959606 2007-03-17<br>14:36 GB Weth 17th Mar / 14:35 2m Mdn Hrd <br>Comm Charged 4.92% On Net winnings of GBP0.61 – – – (0.03) 132.79 <br> 2007-03-17<br>14:46 3038959606 2007-03-17<br>14:36 GB Weth 17th Mar / 14:35 2m Mdn Hrd / Folk Tune <br>Back 9.40 1.99 Won 9.31 132.82 <br> 2007-03-17<br>14:46 3038871949 2007-03-17<br>14:25 GB Weth 17th Mar / 14:35 2m Mdn Hrd / Folk Tune <br>Lay 10.00 1.87 Lost (8.70) 123.51 <br> 2007-03-17<br>14:34 3038883635 2007-03-17<br>14:26 GB Newc 17th Mar / 14:25 3m Hcap Hrd <br>Comm Charged 5.71% On Net winnings of GBP0.7 – – – (0.04) 132.21 <br> 2007-03-17<br>14:34 3038883635 2007-03-17<br>14:26 GB Newc 17th Mar / 14:25 3m Hcap Hrd / Ice Tea <br>Lay 5.50 3.60 Lost (14.30) 132.25 <br> 2007-03-17<br>14:34 3038849366 2007-03-17<br>14:23 GB Newc 17th Mar / 14:25 3m Hcap Hrd / Ice Tea <br>Back 5.00 4.00 Won 15.00 146.55 <br> 2007-03-17<br>14:28 3038834931 2007-03-17<br>14:21 GB Ling 17th Mar / 14:20 7f Hcap <br>Comm Charged 6% On Net winnings of GBP0.5 – – – (0.03) 131.55 <br> 2007-03-17<br>14:28 3038834931 2007-03-17<br>14:21 GB Ling 17th Mar / 14:20 7f Hcap / Fremen <br>Lay 5.50 6.40 Won 5.50 131.58 <br> 2007-03-17<br>14:28 3038827249 2007-03-17<br>14:20 GB Ling 17th Mar / 14:20 7f Hcap / Fremen <br>Back 5.00 7.00 Lost (5.00) 126.08 <br> 2007-03-17<br>14:23 3038717765 2007-03-17<br>14:05 GB Uttox 17th Mar / 14:10 2m Hcap Hrd / Boyastara <br>Back 5.00 8.20 Lost (5.00) 131.08 <br> 2007-03-16<br>14:51 3035127875 2007-03-16<br>14:32 GB Chelt 16th Mar / 14:35 3m Nov Hrd <br>Comm Charged 6.25% On Net winnings of GBP0.32 – – – (0.02) 136.08 <br> 2007-03-16<br>14:51 3035127875 2007-03-16<br>14:32 GB Chelt 16th Mar / 14:35 3m Nov Hrd / Wichita Lineman <br>Back 9.60 2.70 Won 16.32 136.10 <br>2007-03-16<br>14:51 3035124638 2007-03-16<br>14:32 GB Chelt 16th Mar / 14:35 3m Nov Hrd / Wichita Lineman <br>Lay 10.00 2.60 Lost (16.00) 119.78 <br> 2007-03-10<br>15:51 3017704249 2007-03-1015:47 GB Sand 10th Mar / 15:45 2m NHF <br>Comm Charged 5% On Net winnings of GBP0.2 – – – (0.01) 135.78 – last weeks closing balance
Cormack15 – I’m exhausted just read your last posting, so can’t imagine how you feel. Was just wondering have you had any problems matching during running, it’s not something I’ve ever done mainly becaused I’m worried about being let down by the tech or being left exposed having read Barry Dennis’s comments.
Still new to betfair so any advice most welcome.<br>
Pompete – the post makes it look 100 times worse than it is. I concentrate on one horse and one race at a time.
No problems getting matched in running but remember I’m backing (for this purpose) in small numers (max £20). Looking at the numbers it will be harder and harder to get matched  in running once I go to £50 +
Btw – If I’d left that £100 in the bank what would it be worth now?
On the other hand the hours I’ve put in so far would have been more economically efficiently deployed in McDonalds. However, if the laws of compound interest hold true in this particular betting exchange model then I’ll be home free soon.
Stay tuned.
Good luck Corm .. I like the McDonalds reference .. :biggrin:
How much do you reckon your on an hour ?
Haven’t worked it out in detail Dave but generally spend about two hours before my brain fries, over the 10 weeks so far that is therefore 20 hours. As I’ve made ca. £40 that works out, roughly and readily, at £2 per hour!!
Assuming I still spend the same amount of time each week it’ll take another 40 days trading (or thereabouts) to get to min wage. That’s not long if doing it every day but is a long time in Saturdays only. I suspect, don’t know, that it’s tougher in midweek?
I don’t stray down to the basement workshop very often! Interesting thread Corm.
One question. Why 2%?
For a straight backing or laying system that would seem a sensible liability. Is it enough for a trading system though?
I’ve never purposely tried it myself, so genuinely don’t know. My gut-feel would have put it somewhere between 5 and 10%. (That would get you off MacDonald’s wages quicker – or broke of course).
The only person I’ve ever talked to about it was Nick Hatton who used to post on here, and trades professionally. He used to trade to sums proportionally far in excess of his occasional what we would consider normal backing bets.
I’m due an R&D project (my last one sunk with all hands!).<br>I think I may try something similar but on an aggressive 10% and see what happens. I’ll drop back in when I’ve bust the research kitty!
Dave’s point about good traders being ruthless at closing out bad trades is a point very well made. My hitherto lack of discipline to do that is the main threat to my attempt and may be why a 2% approach is more sensible.
Good luck!<br>
The 2% is an arbritary figure. The 2% challenge originated in the query of another forumite as to whether such a sum was achievable on an ongoing basis. <br>My results right now are very roughly 3.5% after 10 days. These could be better I’m sure as I don’t trade as many races as I could and I’m very sure I could do better with more homework and cleverness (e.g. in setting of targets for each trade – It’s all very much intuitive at the moment). I’m also after trying out fairbot, as suggested by Wallace. They do a 15 day trial which I will take up next Saturday am giving me 3 Saturdays to play with it.
Agree with the need for ruthlessness. Close out the ones going the wrong way when they hit pre-determined triggers and let the good ones run and run.<br>
Corm,
I’m sorry I’ve just read the thread again properly and in particular your bets, and realise I was talking at cross purposes. I was talking about exposure, yet you are actually fully exposed.
Serves me right to browse down here half-cut!
It’s given me another idea though, so thanks.<br>
I’m afraid I can’t do the 2% challenge this Saturday due to other commitments. The next £2 profit will have to wait!
Working again yesterday so no play I’m afraid. Also on holiday next Saturday so it’ll be the week after before I get back into the swing (so to speak).
You’ll never make a pro punter with that attitude .. you’ll wind up working in a pie factory or worse .. <br>:biggrin:
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