Friday, 4 September 2009

Interesting Day

Well today has been one of the more interesting days - with the comeback of Kieron Fallon, it definitely brought more volatility and action into the market today than usual. Punters will have strong conflicting views and markets can get pushed around, sometimes violently, as we saw in the 14:20 and Lingfield with Fallon's first race of the day. I didn't manage to get a screenshot but Peter W. on his blog did and just showed the massive move that occurred. I only managed £141 or so in the race, which is very poor considering the move. I usually don't do too well (in comparison to the price movement) on races where there is an absolutely massive move where I wasn't predicting it; mostly because I'm always expecting the price to turn back round, but sometimes they just never do.

It's always fairly exciting as well when the commentators get into debates, or there are stewards' enquiries ongoing etc. - it all makes for a more exciting day behind the screen; it should be cherished because they are few and far between. Actually sometimes I'll just miss completely what's going on on the TV - some days I'll just blast my music and not listen to any commentary, mostly because I'm just in the mood. I can sometimes get frustrated with myself when I do that though as when a horse is playing up, or something like that, and the commentator mentions about it, I'll miss it! But it's when I lose money because of it, as I'm just not expecting a drift.

I've had a good week this week which I'm pleased about - but it hasn't been without a few races where I just blow up and lose a load. That's been happening more often recently so I'll have to reanalyse my trading style.

Moving on to the discussion of blogs. There's a new blog called Adapt & Survive, which from his first post seems to be fairly successful! I always find it fascinating finding out out about other people who make more than a few hundred a day. One of the great blogs I think everyone would agree with, is the blog Don't Give Up Your Day Job, which has always been on of my firm favourites - as I write this it has made a comeback which I didn't know about! (I knew it would come back!; sharing your thoughts with other people and writing a blog is addictive to a certain extent). Of course, there are plenty of other blogs who offer great stories, maybe not raking in hundreds and hundreds of pounds, but are good reads. It's crazy when I look back and see where I started out. Anyway, I won't go into reminiscing! If you have a blog relating to horse race trading and you update it fairly regularly, then leave a comment or send me an email and I'll put the link up.

I remember posting up a graph of average I made per day since the start of my trading career. Well it's been exactly 2 years from the day I starting keeping records - rough as though they may be because I only record 'full' trading days. I don't mind posting this up because it can really show that hard work and dedication can see you improve. Also, since I started this blog, a lot of people have said to me, why publicise it, because it will only encourage other people to compete against you. I haven't found it getting harder, nor easier, but really I guess just constantly challenging - if I was losing out, I'd without a doubt probably stop! Anyway, this is about as detailed as my personal records get. All of the monthly figure totals will most likely be short - sometimes by a few thousands compared to the Betfair screenshots because I don't put up half traded days on this sheet.

14 comments:

Robbie Chicago said...

Hi Adam. Interesting that you've mentioned reading other people's blogs - I began mine just yesterday.

Started trading a couple of weeks ago, and, like most people who do it, will use the blog for self-analysis as well as interacting with other traders from novices like me to pro's like you.

Check me out at www.cashorcrash.wordpress.com

Keep up the good work, and the very inspiring blog.

Rob

A. said...

This is the most inspirational chart I've ever seen :) Thanks for posting it!

I am on my second month and I am slightly behind your results, but this will motivate me for sure!

Any idea what the hell happened with your trading in March 2009? The average per day doubles vs the previous month. Did you have a trading revelation? :)

cheers and good luck!

A.

YoungTrader said...

I have a blog where I will ramble on about my personal mission - getting consistent profits from prerace trading so I can get my own place, travel and later on have a good personal economy when I'm going to attend university.

it is updated regularly

youngtrader.wordpress.com

Cudster said...

you never fail to amaze adam!

Ive done a bit of experimental trading before and dream of turning it into 20% of what you have done so far!
Do you think someone who can not 'feel' the markets could still make profits from most markets, as long as they have some good principals behind them? The reason I ask is because I have not yet experienced 'the feel' and wonder if I could make money until then?.. :)

Keep the posts coming...

p.s - I laugh at how amazing your profits are, how can you sleep!

Anonymous said...

Sept 07 - Oct 07
Epiphany?

JS said...

Thanks for posting your averages Adam, helps put things into perspective. Would appreciate an exchange of links.

Best,
JS
http://my-betfair-trading-journal.blogspot.com/

Anonymous said...

Hi Adam,

Interesting spreadsheet. Could you tell us how long you were trading before you started keeping records? Did you have a period where you were losing money and did you have many losing days in the beginning?

Anonymous said...

Hi, Adam!

Do you ever trade on the place markets? I know there are much less money there, but I am curious if anyone finds those easier...

Pedro EspĂ­rito Santo said...

Hello, i'm new is this trading world and i'm studying this subject as much as i can... Right now i would like some specialist opinion about trading systems. I know for sure that there is no perfect system and i'm not looking for them as a fast way to get fast money...but i look for them as a extra way to understand even better this world and get some basic ideas about it. what is your opinion? thank you

Anonymous said...

hi Adam great comments as per usual what do you mean by a full days trading?

Stewart Davidson said...

Hello Adam,

What an excellent blog, and what phenomenal, consistent profits. WIthout a doubt this blog has inspired me to take up trading after a turbulent few months as an old fashioned "punter" If I was do do 10% as well as you, I would be delighted. For what its worth, I did have to laugh at the comment a few posts bacvk about the price moving in exactly the wrong direction once you have jumped on - very frustrating !

Regards,

Stewart

www.sdavidson-betfairtrader.blogspot.com

Anonymous said...

It's Kieren not Kieron!

Adam Heathcote said...

Hi Rob, I've added your link. Good read!

Hi A, well in March that was Cheltenham Festival, which is where I could use bigger stakes. I just really stayed in the zone. From there on I think I just realised a sounder state of mind whilst I traded, as well as having less fear of losing money in trades, because I was seriously on a roll. Overall just greater confidence.

Hi cudster, I definitely agree that someone who can't 'feel' the market as much is definitely capable of making profits given using a set of principals and some experience behind them. I think I sleep because it's just become normal!

Hi Anonymous1, I'm pretty sure it was just a steep learning curve there and bigger stakes.

Hi Anonymous2, I had only traded for a total of about 6 days before I started keeping records. I used to lose more often than I lose now - I used to have a losing day once every 3 days, then gradually it reduced to now which is about once every 2 months.

Hi Anonymous3, I don't trade on the place markets - there just isn't the liquidity there to make the money I do on the win markets. It would be a good place to start for beginners though.

Hi Pedro, working systems are hard to come-by, because all the time the creator will just keep it to themselves.

Hi Anonymous4, a 'full days' trading I mean that I've traded on all the afternoon markets. If I only traded on half of the races, I generally won't count that day.

graham said...

Hi Adam,

Graham here from dublin im glad you had a good time here on paddys day last i liked the men in black suits lol..anyway nice blog man and nice to see people do well in hard times like these.One question for you is when your trading on the horses do you green up each race to take to small profit or do you catch the profit margin and let the it roll on each race?/for example is you back horse A at 4.00 and then lay him at 3.96 the profit margin of .04 would you let that roll on the horse so if it wins your return would be higher than greening out and if he loses you have not lost anything?do you do this at all or do you green up each race or mix it up a bit?

thanks

Graham