Friday, 10 April 2009

Diversification

One thing that I've had in the back of my mind is diversification of my trading. Having a good bank of money behind me from the profits I make in horse racing gives me the opportunity to trade other sports, without fear of breaking the bank, and with enough money that makes your trading matter (sometimes using small stakes can vary from the decisions you would make than if you were using larger stakes).

So anyway, I was trading Tiger Woods in the US Masters tonight, and was making some good trades - and it feels so much better making a good trade in sports such as golf compared to horse racing! I was trading on personal judgements and price movement patterns.

I've also done some pre-race trading on Formula 1 - there are no 5 second delays and some movements in odds can sometimes drift and steam just like a horse does.


The challenge has been coming on exceptionally well! I'm currently 71% through the 150k challenge; just over £106,000. I had no idea I would improve further moving into this year - so the challenge is now 250k, and if I reach that early then I'll make it 250k after premium charge reductions.

Good Friday today, so nice to have a day off from trading. I won't be able to trade the golf today because I'm off out. I would love to trade it; from now on I will be making a more conscious effort on trading high profile events.

7 comments:

late_developer said...

Well done on the Tiger Woods trans.
Can you tell us how many trans you had made to reach your profit?

John said...

I must take this opportunity to congratulate you Adam onbreaking the £100k mark already after only 4 months and taking into account the minimum of racing we had all through Jan and Feb it is truly an amazing feat and i take my hat off to you and bow.

Anonymous said...

one thing that a lot of people probably ask is how do you know whether or not to back or lay first? some will do either as it can only go up and down, its how you react which is important.

do you have a method which leads you to laying or backing first? before the weight of money used to be good but now it doesnt really help , thanks

Jeff Waters said...

Hi Adam

Great result on the US Open!

Do you trade golf in-play or pre-match?

Regards

Jeff

Peter Webb said...

Well done on your success to date. It's great to see people coming through who are doing so well. Especially as a lot of people still believe it's not possible or that the opportunity has passed.

You should probably insert a caveat that not everybody can reach the same level as you. That said, I am sure most people will be perfectly happy with much smaller achievements.

Any how, well done, onwards and upwards!!

Adam Heathcote said...

Hi late_developer, trans? If you mean trades I did it in about 5 trades.

Hi John, thank you! I really appreciate it, how are you doing yourself in terms of progress towards your target?

Hi Anonymous, well I jut decide which way the price is going to move then back or lay accordingly, if the price isn't going to move, then I'll scalp it. I have no 'method', just intuition-based decisions!

Hi Jeff, thanks, it was in-play over the closing 3 holes Tiger Woods was on.

Thanks very much Peter! One thing I would say is that it's definitely possible. I remember thinking to myself when I started, 'I don't think I'll be able to be as successful as some P&L's I see because Betfair's been around this long - there'll be so many people who are masters already'. I'll do a post on what is possible to achieve soon!

Anonymous said...

Hi Adam,

Great result on the Masters price swings. You say it was your intuition for going in on a back/lay and you have no 'method'. Would you say this is similar in the pre-inplay racing too? Down to careful money management?

Cheers,
Gareth