After some consideration over the last week or so I have decided to end this blog and stop posting on forums.
There are several reasons behind this but the main ones are that I have become disillusioned with the world of blogging and forums. What started as an aid to my trading has now become more of a distraction. Furthermore, I have several new trading ideas in the pipeline that will hopefully move my trading to a whole new level and my time is better spent there.
Finally I would like to thank all of the readers who have taken the time out to leave comments.
Following a request by a reader, I shall leave the blog up. If people want to get in touch in the future just leave a comment on the blog.
For you football and tennis traders, I thought this BBC News article might be of interest and perhaps even some of you horse racing traders..... click here for the article
As the credit crunch continues to bite there is good news that although Setanta looks like it is on the brink of going under, Racing UK will continue to operate, possibly as a stand alone channel.
You can read the racing post article here.
*****************UPDATE************
RUK Update - click here
Whilst waiting to be paid out on the last race I thought I would do a post for the Anonymous poster who thought they would have a pop at me earlier.
They argued that:
'"Seems everyone else is trying to keep this quiet as there is no mention on other blogs or forums - it is so obvious I am sure anyone trading is seeing it, if you aren't you are doing something wrong." You could equally argue that you are doing something wrong if you seeing it. It hasn't affected my trading style at all so I haven't really noticed it.'I am also pretty sure the above was the same person moaning about the blog in general and that I offer nothing to the readers. Well firstly as I said to them in the comments section, if you don't like reading a blog with no hidden agenda, that isn't trying to earn money from you the reader, simply just don't read it. I get nothing from the blog bar making contact with people and there are numerous people out there that have gotten in touch with me via the blog that I have given up time too to talk about trading and help them. If you think you can do a better job I will be more than willing to add a link to your new blog.
Also if you could point me in the direction of anyone else discussing this mad punter I am all ears! I don't see anyother blog mentioning it and not a peep on the forums. There are various leading blogs out there and not a mention has been made of it from them!
If I am doing something wrong by spotting it I hold my hands up but here is a little snippet of what you CAN achieve by spotting it:
As i say if I am doing something wrong by spotting it I am sorry but my bank balance perhaps isn't quite so sorry!
just thought I would add a little extra to the post from yesterday. Although still around today there were several imitation mad punters out and about, mainly tonight.
I hope no one fell foul of them. They should have been pretty easy to spot though almost every time they entered the market you could see people steaming in thinking it was the Mad Punter. They would then quickly remove their orders and you could 'see' people panicking when they realised it wasn't real.
It also seemed like our friend wanted to go out with a bang tonight in the 20.30 race going in with well over £30,000 which they duly lost and didn't seem to return from.
Though as ever there was plenty of money to be made from it today so I hope you got some.
Seems everyone else is trying to keep this quiet as there is no mention on other blogs or forums - it is so obvious I am sure anyone trading is seeing it, if you aren't you are doing something wrong.
Anyone any ideas as to what this person is trying to achieve, bar losing money hand over fist?
I am sure most of you have seen the mad punter in the markets recently, especially in the evenings. Get on the right side and you can make a fortune, be on the wrong side and you can lose a lot!
As you will know they are no longer just backing but also laying horses which is making trading the markets very tricky. It has led to a bit of a roller coaster for me lately and seen some big swings in my Profit & Loss.
If you haven't spotted them just look for anything from £5,000 to £25,000 coming in on the back or the lay side on the front few in the market.
Below you can see the effect he/she is having on the market. This was the last race tonight when he came in with £20,000+ and took the market from around 3.10 to around 2.40 in double quick time - thankfully I was on the right side of this one!
How have you done from them?
Following a bit of a discussion in the comments section with an Anon poster on one of my recent posts, I thought I would ask readers to comment on whether or not they class a certain type of trade as a swing trade?
A perfect example happened in the very first race this evening at Huntingdon. The Favourite 'Monsieur' was going to the start very freely. At point A in the image below the camera focused in on the horse and the presenter said the horse was going much more freely to the start than would be ideal, just as the horse speed up a bit more with the jockey struggling to keep the horse from bolting.
At point B on the image below the horse arrived at the start and the camera no longer focused on the horse but instead a wide view of all the horses at the start milling around.
For me this is not a swing trade. The market, i.e. the layers, traders etc., are reacting to what is being shown on TV and are laying it or exiting their original position as it is deemed the horse now has less chance of winning and people know the price will drift. Everyone starts hitting the lay button and the price drifts rapidly.
The only indicator that this horse was about to drift was on the TV and the fact that it was going far to freely for its own good. There were no markers in the market, or anything on the graphs that this was about to drift, it was to me what I call a reaction trade. In that I saw the horse going freely and I reacted by laying it.
Also it yet again shows how having pictures pay for themselves!
Would you class it as a swing trade?
