Friday, 1 May 2009

April

Yesterday was a roller coaster for me. There were so many opportunities yesterday it felt like a trader's dream and I managed to make good sums nearly every race. In the 15:05 race I let a trade go in-play, but not on purpose. The clock on my Bet Angel had about 1 second to go before turning 'red' and it warns you that the race is due, and although I didn't have my eye fixed on the TV, I'm sure it was one of those races where they just cut to them running off without any prior notice, such as "another turn and they will be off". So anyway, it was pretty unfortunate that the horse that I was trading on had a 10 length lead after no time. I ended up taking a loss of £1,410 on the chin, instead of the £200 I had actually made on the race. I've noticed over the last week (it might just be my imagination) that races have been going off on time much more frequently. Surprisingly the loss didn't really have an affect on me; my acceptance of big losses is much better than small losses strangely.
I had another mare, my worst one in fact from a purely trading perspective in another race. I ended up piling in plenty of money on one side of the market when I thought one thing was going to happen, but of course it didn't and it went wildly against me. I took an £800 loss in that one. Amazingly, I finished the afternoon £800 up. It would easily have been my best non-festival day for trading if I hadn't lost in either of those two races.
I think I made these mistakes because I remember at the start of the day I really wanted to make a certain amount to tip my winnings for this month on horse race trading over £50k. I thought I had fell about £200 short but while I was writing about this I checked my P&L for the month and just made over it! I have an Excel spreadsheet I use for estimations to track my progress that way.

So April was my best month for me so far on my trading journey, I traded 480 markets in 21 of my 'full' trading days, averaging £104.70 per race. So my total was £50,256.59. After the Betfair premium charge of approximately 20% it's more like £40k. Still good, but gutting that they steal that money off of me in the way they do. I've never had a call from Betfair, ever! I'd like to think that heavily paying customers of premium charge we would get a surprise present now and then, but I guess that's never going to happen!


As you can see I'm only really good at the horse racing at the moment. Trading the football I'm learning a few things so next month that negative should turn to a profit.

13 comments:

Anonymous said...

Adam

Well done amazing performance. I had the same thing happen to me on that race but with lower stakes. I read yours & John's blogs and they keep me going.

Thanks
Dean

Scott Ferguson said...

better stop betting on golf mate :)

Anonymous said...

What is it that you want Betfair to give you? Is the opportunity to make £40K/month not enough?

Anonymous said...

Why should betunfair contact you about your payments? When they introduced the charge they relied on peoples apathy or a-pathetic reaction and they were correct. What they got wrong was how much they were able to tap customers for. But don't worry, I'm sure they'll soon put that right.

Enjoying the blog and wish you prosperous future trades.

Anonymous said...

EXCELLENT WORK MATE, WOULD YOU SAY YOU ARE MORE OF A SCALPER OR SWING TRADER? IF BOTH WHICH ONE DO YOU FEEL MOST AT EASE WITH WHEN TRADING. AS WITH SWING YOU HAVE TO BE READY FOR BIG LOSSES IF YOU GET IT WRONG

Anonymous said...

Hi Adam,
when I trade I like to scalp in first instance and if I catch a swing - so much the better (I don't like loss pyschologically so prefer not to take the bigger hits).

Can I assume that you primarily swing trade - assuming due to sums you make it can not be a succession of scalps.

thanks
Den

Anonymous said...

Hi Adam, in percentage terms, how much larger are your trading stakes generaly now compared to one year ago? Thanks and best, Jeff

Betfairlooser said...

Ive start trading becuase of you ang i take this year to learn more about trading.
I dont use betangel yet but do i need it?

Anonymous said...

u need to seriously watch what ur doing adam. u have come to expect a certain standard of yourself and whilst that is positive i fear for your state of mind at present.

Adam Heathcote said...

Hi Dean, thanks for reading!

Hi Scott, thanks for the advice ;)

Hi Anonymous1, Betfair already make healthy profits without the need to tax me.

HI Anonymous2, I mean a kind of 'thanks' from Betfair for them taking 20% of my profits.

Hi Anonymous3, I'm both.

Hi Den, I probably do both equally.

Hi Jeff, they are probably twice as big.

Hi Betfairlooser, can I first say your nickname is terrible for your mindset! ... You do need Bet Angel.

Hi Anonymous4, your right, I do need to be careful. I'll try not to fall over myself if I don't meet my standards in the future!

Anonymous said...

I would disagree with your comment about needing BetAngel. There are many other software products on the market doing similar things that are much better value. For the new trader I would suggest taking a look at Gruss Betting assistant which is free for 30 days & £6 per month after that.

Other than that others that come reccomended on various forums are Fairbot, Bettrader & bfexplorer.

Anonymous said...

do you always back first then lay after.

also what amount do you bet on a horse then do you trade for the same amount

steve said...

Quote:
" Anonymous said...
I would disagree with your comment about needing BetAngel. There are many other software products on the market doing similar things that are much better value. For the new trader I would suggest taking a look at Gruss Betting assistant which is free for 30 days & £6 per month after that.

Other than that others that come reccomended on various forums are Fairbot, Bettrader & bfexplorer.

04 May 2009 15:40"

Adam makes 2 grand a week and you come on here and contradict his advice? Do you make more then? Dream on buddy.
BA rocks
Adam, Good work mate, keep going