Total Profit/Loss: -£111.93
January was a very strange month for me. I felt like I made progress for most of the month but lost control in one session and made a loss! This is really frustrating as so much of what I did this month was very promising.
Lets talk about the manic session first. I was trying to get near the target(in my head) I had set myself this month of £250 profit. I went passed the target and was feeling very happy with myself and decided to trade just one more race and then finish. What happened next was complete madness. My PC went on super go slow I think my anti-virus software was updating. This caused me to miss the start and lose £50 on the race. Now because for some reason I thought that it wasn't really my fault. So I decided to make it up on the next race and layed the fav which won. Then layed the fav in the next race and it also won, by the time the third fav won I had lost all my profit for the month and some more. If you are reading this you are probably thinking what an idiot and that is exactly how I feel.
The crazy thing is that I am much better with my general Horse Race trading and have been taking my losses and moving on. However my stupid mistake cost me big time. This is a big reminder for me that on Betfair it is easy to quickly undo the good work of a month or longer. Anyway hopefully I have learnt from this very expensive series of mistakes and can move on to Feb where there should be much better opportunities for some decent trading.
On the positive side my American football trading was very good and I continued to profit from the sport. It is a shame that there is only the Super Bowl to go. My football trading showed a small loss but generally was quite sound. I am currently working on a few strategies for this year with the world cup in mind.
Sorry to hear about the session you went on tilt. I've done it too and I'm sure many others. You are not alone! The feeling of it not being your fault I think is a powerful force when you're trying to control your emotions. I still get it - this week in particular with all the Betfair crashes and API faults!
ReplyDeleteMost of the time I can reduce the damage and sometime even end up with a profit on the day, like yesterday. Just stick to your normal trading to reduce the damage, don't suddenly become a master layer of fav's!
Sorry to hear that Drifter. I thought you had got those moments of madness out of your system ages ago. I guess the temptation is always there for all of us.
ReplyDeleteI'm sure you'll recover it soon enough.
Thanks guys for your support. Overall I feel very positive about what was a very tough month. I will try and move on and just remember that I am no tipster. Although you could make a healthy profit backing my lays!
ReplyDelete