Thursday, 2 July 2009

June

June for me was a very frustrating month with the heat in the office, the high standards I had set myself of my now target £2,000 a day and overall lack of motivation. I think the lack of motivation came from having reached my peak and knowing it would be nearing on impossible to match it; and when I could not produce the same results I did from Cheltenham at Ascot I was disappointed. Anyway, that was just where I stood. Without always wanted to do just that bit better every month I don't think I would be I am now - I had the burning desire to succeed. The markets were also different to what I was used to - randomness in the markets and the frequent low liquidity made for unpredictable times and lowered confidence. Some normality I feel is coming back, obviously without that punter who kept backing the favourite with large sums of money. I managed to make money off of him, but it held me back from getting in positions I would normally have gotten into. I also feel more motivated now that I know I can control the temperature in my office, I can stay cool during the day and keep much more focused.

On to my results. I traded 19 full days, with quite a few days where I traded just a few races. I profited £29,478.35 covering 305 markets. A much better return per race than I was expecting it to be. I am making all this money yet my bank balance doesn't seem to by increasing that much. I thought I had curbed my spending on gadgets, but somehow the money slips out the bank in many other ways!


Anybody that had emailed or left me a comment, I will be going through the past few weeks' over the next few days.

21 comments:

Anonymous said...

Hi Adam,
Just like to clear up something.

Why on your P&L screen is it showing 'Just For Today' for the Period, Yet the date range is 1/6/9 to 30/6/9.

Surely even you couldn't make £29,478.35 in just one day? or have i misread the screenshot somehow??

Nathan said...

Hi Fella,

Very interesting reading, although I'm somewhat jealous! :)

How many trades do you carry out in a race? / how much do you wager per race?

Cheers.

Alex said...

man you're on fire ...

Brian said...

Still a very impressive return. I am going through a similar situation. Making the first £100k is easy , its turning that 100k into a £1 million that I am finding difficult. I am being plagued with small bouts of over confidence plus the small issue of actually getting the money on as unlike you I am not trading I just pure betting.

Good luck. I am sure once the temperature cools down a bit we will both find our natural rhythm again.

Anonymous said...

Hi Adam

Thanks for posting your P&L I find your results fascinating and like to compare results on specific races. It is also reasuring to see that you can drop serious amounts in races where you get it wrong. I need to learn not to let this bother me so long as I am winning most of the time.

Cheers

Chris

Peter Webb said...

A good month none the less. You make it sound almost a let down!

Anonymous said...

you better open a bank account in switzerland, or you will start paying taxes over such a big amount of money ;D

and late "happy birthday" lol

mystery_trader said...

Just came across your blog. Very impressive I've got to say. I trade on Betfair every day also but on a much smaller scale I hope one day to be as successful as you. Keep up the good work mate.

If you've got any little bits of advice you'd like to offer me I would be grateful.

Jimmy said...

Hi Adam,

How about recording 1 day of how you trade. This I am sure would help loads of traders who struggle to make it pay. I am sure your video would be better than Adam Todds videos. Cheers Jimmy

Anonymous said...

Outstanding! I have no words!
Congrats,
Sandra

Anonymous said...

Hello Adam. I'm a big fan of your blog since a few months. Deeply inspirational to me.
Here's a question i'm asking about your setup : What are your backups in case of a power failure, software failure, OS failure, etc. Well, any kind of failure which could happen.
Sorry if you have ever answered to these questions before, but I can't find any of your post about this subject.
Keep up the excellent work !
Regards,
Johann.

Anonymous said...

Hi Adam, I have followed your blogs for ages now and am really inmpressed with your totals each month. I can't see an email address for you on your site -just wanted to ask you a few questions if you have time to answer them. Please mail me at cgreen1982@hotmail.co.uk
Thanks, Chris

Anonymous said...

hi! are you trading betdaq aswell? do you think it is also possible to profit from betdaq as u profit from betfair?

Anonymous said...

Have You ever made a vieo with Your trading?? It could be amazing to see what strategy do You use in YOur trading.

Regards

Lukasz

Anonymous said...

Hi Adam, great blog. Following on from the comment about tax ....How does the Uk taxman treat trading on betfair et al? Is it considered gambling so you can't offset losses against anything else/gains untaxable or if it is sole source of income is it treated as taxable income - or something else ?
Take care
Regards

Anonymous said...

I can't find the post about exit points.Have I missed it ?

Anonymous said...

What stake size are you using on average Adam, everyone wants to know?

Anonymous said...

Adam why did you say on your original blog post that you self-taught?

'I learnt trading on horse racing purely by myself'.

Because if you had been on Peters course back then surely then you would have said and mentioned that, yet you are showing daily profits of £600+ then.

Tony said...

The missing link.

Glad to see you are anshering most of the post being posted.
And hope you can find the time to read mine.

Over the last 4-5 years iver been studying the racing markeds(mean really studying) latest ive recorded aprox 200 videos of the races of my betangel screen and categorized them as steamers or drifter, trying to find patterns of what makes them steam or drift.
Reading books about chandlestick charting, taking notes off all the facktor ive seen, been in contack with jimmakos. com(he even wrote a whole artical about my quistions and posted them on his site. The last few mounths its been really exhiting, as i think ive become pretty ferm at pridicting the marked. im always on the look out for that big swing.
Now i hope you can help me a bit as i might know what my problem is and just want your apinoin.
when i open a possition and it goes 3 ticks the rigth way im always looking for a few ticks more. I try looking for that big swing and usually just makes 1 or 2 postions per race.What im trying to say is im pretty confident with knowing what way the marked will go, my problem is just how to take the ticks, is it taking 1 tick a time or 3 or 10. or 10 ticks by opening 10 positions.

One more quistion.
looking at the patterns of the chards. there is one thing that strikes me.Sometimes when the fav is about to steam, big amounts is placed on the 2 and 3 fav in the 2 or 3 back box. do you think it is people trying to push the price down on those horses so that the fav ´dont steam right away

Adam Heathcote said...

Hi Anonymous1, 'Just For Today' is the default selected period - there are no options to select 'June' or example, so I manually edited the date range.

Hi Anonymous2, I carry out probably on average 5-10 trades a race. I wager in total, thousands.

Hi Johann, I have to emergency power backup for my PC, just a laptop with mobile broadband on which definitely suffices.

Hi Anonymous5, the taxman doesn't have a say because it's gambling and therefore tax free. If it became taxable, the gambling industry would crumble.

Hi Anonymous8, back then Peter's course on trading was more focused on betting exchanges as a whole, obviously there were a few things from his course I learnt, but >95% was learnt myself I'd say.

Hi Tony, it's impossible to always get out at just the right time. But keep playing with your exit timing. So try exiting 1, then 2, then 3 ticks (and so on) earlier, or late, to see if you become more profitable. It's whatever makes you the most money.
I don't think these sums are people trying to push the prices around. I think it's more to do with reactions to what is happening on the favourite mostly.

easwaran said...

Beloved Adam
greetings, it is nice to see you have mastered the trading.good going buddy,
what about premium payment to betfair,you should have paid 20% of your winning that is quite huge, it is unfair on the part of betfair to charge the smart player like you. for winning
hope some thing happens to betfair policy, sooner the better
happy trading Adam
love
easwaran

bbliss47@gmail.com
India