Tuesday, 3 March 2009

Best Day!

Today was my best day ever, there was plenty of money in the markets today with reasonable movements and decent priced horses which made it an ideal environment to trade on. I managed to make £2,038.89. My best ever day prior to today was back on September 25th last year where I made £2024.23; so not really a massive jump, but I was still really happy with the result! Although it didn't come too easy, with six races left I was £1,700 up, thinking, yes I have my best day in sight, then the next two races saw me lose £300 - I was very annoyed, but gave myself the challenge of hitting the £2k mark with 4 races left, amazing I manged it! It's funny because in the first race I lost about £75 thinking I've got a tough day ahead of me. Anyway, I've slowed down the posting slightly from every day to every other day or so, I've been pretty busy lately with everything - but it's great!

On Friday last week my friend Frasier started filming me about being a horse racing trader for a short on Current TV on Sky. It will be about 8 minutes long and should capture typical emotions I go through, some trading and some views from myself and friends of what I do. It should be good; it will be finished when I hit my target, with a bottle of champagne and a party!

P.s. I'll update the pie chart with my progress just as soon as I figure out why Excel is putting out the wrong percentage.


Anonymous said...

Hi Adam,

I personally felt today was quite the opposite to what you felt it was like. I struggled to get filled on orders and thought there was little 'real' money around.

Numerous markets were very dead in my opinion.

Out of interest does one of your styles involve putting up orders of say a few thousand a couple of points away in order to push the price down or up?

Everyday I see people doing this, or I should say I think I see people doing this as obviously you can never be sure 100%. The number of times you see orders all of a sudden appear of say £2,500 at say 4.6 to back, £1,500 at 4.7 to back when the current price being traded is 4.4/4.5. People think the price is going down and then the orders at 4.6 and 4.7 disappear, the price shots up and large orders appear on the lay side thus pushing the price up and netting the person behind it all a tidy sum.

I call this spoofing and am sure people use this technique.

As I say, today I felt there was quite a bit of it going on in the quiet markets.

I just wondered if you used it or some form of it? Especially given the size of bank you use which I would have thought was hard to get matched away from the favourite?

Well done today, I am sure you will beat todays record in no time!

All the best,


Anonymous said...

Hello Adam

great result

i wondered what stake
per race do you usually
use around 1000?


Krzysztof said...

Hi Adam and hi Leon, I personally do feel that I know who was messing around with that kind of sums. Today I saw your result Adam and now I'm almost sure that it was You. It's curious because I do remember that in reply to one of comments, You answered that you think that influencing market with position left out of moeny is dangerous and you answered that you do not do this. Did you change your style lately? I saw this huge orders and saw that someone was very confident with placing them. Personally I do feel just like Leon, there were not much 'real' money out there on favourites. Answer about changing your style and influencing market with disappearing orders appreciated.

Anonymous said...

Great day Adam. Keep shoving it to those waste of time cynics! I had a good day yesterday also.

Personally I don't think that spoofing can work to any great extent as you can't tell if people are spoofing in the other direction also. I think you have to work inside the volatility of the market. It's six of this half a dozen of the other really isn't it?

Adam Heathcote said...

Hi Leonthefixer, it's interesting you found it the opposite - maybe because I had such a good day that my views of the market became distorted; but I do remember the total amount matched going over a million quite a few times. I can safely say my style doesn't include that - when I focus more I pride myself on figuring out what's going on in the market, i.e. the 'real' money and the 'false' money. Obviously I see people doing what you described, but I'm sure I catch them out by figuring out what they're doing and profiting from it, that's when it's like a game of poker, when you win it feels great!

Hi Mike, it varies from race to race depending on the odds, but from the favourite it can be up to a few thousand, down to a few hundred for a non-favourite priced higher.

Hi Krzysztof, as I was saying to leon, I'm sure my good days come from being able to figure out the difference between 'spoofings' and 'real' money; that's when I'm in-the-zone. Sometimes I wish Bet Angel had an MSN feature in it where you could message people in the market and find out who's doing what!

Hi Anonymous, I'm not sure how spoofing could work for anyone consistently either since I am sure when I see it, I get in a position I feel goes against them and I get it right most of the time.

leonthefixer said...

Hi Adam - thanks for the reply. I am glad that you also spot this happening in the markets.

Sometimes it is very easy to spot the spoofing I findand therefore you can take it on waiting for them to cancel the orders and watching people panic and push the price either up or down as they try to get out of positions.

I can understand it working long term if you know how to use it correctly. I guess it is just another technique. It isn't for me but I am sure others find it useful.

I agree about there being some races that went over £1 million. Though there were also many that were a lot lower. Several of the races were very long races which meant there was on a good few ocasions little time between one race finishing and the next which alway seems to reduce turnover on a race.

As you say when you have a good day you nearly always think the market was great and obviously it was for you. Though I do feel the market was quite quiet at times and it reminded me of this period last year, i.e. the week before cheltenham. The racing is porr quality and people seem to be saving themselves for next week.

Good luck today!

Anonymous said...

It was my first losing day in 3 weeks and I found it rock hard to read the markets, I honestly don’t know how you do so well Adam, unbelievable, I think you are made for trading!

Anonymous said...

How many traders make £2k a day? Probably not many I guess. But well done if you can. Have to say your consistency is amazing!

I knew I'd seen somebody else do this and I found the link. Here's the next target Adam! You will have to scroll down a little.


John said...

Nice total Adam - seriously good!!