Tuesday 21 April 2009

Following On

Just a quick post to say that I seem to be continuing where I left off, although it is really too early to tell.

Again today started off nice and steady until the 15:00 Folkestone when I got a phone call from work to start at 17:00 tonight, yes in just under 2 hours :-( so I’m going to get a short sleep now.

I managed just 4 races today and accumulated a profit of £6.65 in an hours worth of trading, better than the minimum wage anyway.

Must dash and get a short snooze, being picked up later so I’ll catch you tomorrow.

Cheers
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3 comments:

  1. Anonymous21 April 2009 at 16:01

    It amazes me that you hardly ever have any losing trades go against you, do you just scratch them pretty quickly or have you got some other method to cut down on losses?

    Keep up the good work anyway, Andy.

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  2. Antonio21 April 2009 at 20:19

    Hello Andy,
    I just finished my one-to-one tuition with Mr. Raybould (he just left 20 minutes ago), I decided to put in practice his instructions on the last UK race of the day, I actually managed quite well ending up with £3,63 profit (by using a relatively small bank). Let's just see what tomorrow holds...

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  3. TraderGray22 April 2009 at 18:53

    Thanks Scalper

    What you actually see in my P&L's is the race or event profit/loss. I do have losing trades and I do get out as quickly as possible if they do not immediately go to my prediction.

    When I last checked, a couple of weeks ago, my successful trades had just crept over the 74% mark so I still lose 1 in 4. Very often I am able to turn a losing trade into a profitable P&L for the event by trading several times but occasionally it will catch me out.

    I have learnt some very expensive lessons in leaving trades "in the hope" of an odds recovery in my favour so I no longer do this and my take on it is…

    If you leave a trade "in the hope" situation it is money tied up that you cannot use. Getting out at scratch or even 1 or 2 ticks down releases most of it to play again.

    Of course, when I use larger stakes it never seems to work the same so I’m toddling along trying to learn what effects what and why it is different if I double/triple my stakes for instance.

    ==================================

    Hi Antonio

    Fantastic, David is an excellent tutor and I am sure it will help you on your way. Great profit for your first “trained” go as well.

    The one to one is something I will look at too, just out of interest how much did it cost?

    It would be great if David could do mine, when I get around to it, but then Peter and his team are all well qualified to teach.

    Good luck with it and keep me posted on your progress.

    ==================================

    Thanks for your comments

    Cheers

    Andy

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