Disappointed but Happy

I managed to get a good afternoons trading in today but was disappointed by another of my single, silly mistakes. I keep doing these odd things from time to time and it always seems to hurt rather than help.

I’d traded to a profit of £0.60 in the 14:45 Lingfield and attempted another trade. It was obvious that it wasn’t going my way so I cut out in my normal fashion, to scratch the trade, using the offset column in BA’s ladder. It closed the trade, and my existing offset 1 tick away, vanished from the ladder.

Well you’ve guessed it by now the existing offset wasn’t cancelled but taken at the very same time and I didn’t notice. I closed my graphs as the race went in play and moved to the one click screen to see a big £23 red against all but one of the runners. I reacted immediately by checking the green up box and closed out for a £1.81 loss.

To push the knife in further the odds went from the 3.45 at that time to 4.7 with my break even around 4.0. Had I waited I could have achieved a nice profit, but no, I did the right thing, I’ve been on the other side too many times in my early days.

So today I managed to back trade just over £750 with a profit of £2.35, a ROI of 0.31%. It should have been better, much better and I would have achieved a clean day, no losses anyway, without the mistake. I guess I’m not yet ready to go with bigger stakes!

I was happy with my trading today in general, it seemed to go quite smooth and I only had to recover a couple of losing positions to profit.

With the weather particularly dour here in Cornwall I doubt I’ll get to the beach this week, so much for taking time off in the summer.

I’m not sure when I’ll trade again this week. I got the chance today as Mrs TG went to Truro with a friend to see some Take That tribute band (yawn!) not my scene.

Happy Trading & Cheers