Slow and steady

Daily result: £15.37

Today was a good day in terms of discipline - I stayed consistent in my trading and got the reward in only losing on one race, I won on 10 and broke even on 5. I found a lot of the races tough going and made only small profits on a lot of them. Again I missed out on some great chances but how and ever. One of them was the price on the fav had drifted and I was sure the 2nd fav would shorten so I had backed it and could take a 1 tick profit though I was confident it was going to shorten 5 or so ticks. I held on to the position for about 20 seconds and still it hadn't shortened up anymore even though I thought it should go shorter still I took the 1 tick profit as money had built up on the lay side. About 1 second after laying it off for a one tick profit a big order came in and dropped the price a further 4 ticks - a touch annoying but never mind. There were a few other occasions today that I was confident of a big price correction so joined the que to try and get matched rather than taking what was on offer then I would just not quite get matched or only a fraction would and then the correction would come - again annoying. This does however, make me some what happy in that I am realising and am aware of the correction it is just I have not got the execution of taking advantage quite right yet but I am sure that will come with time and as I increase stakes I will also aid in that correction.

So on the whole another good day of trading and I shall spend this evening deciding as to whether or not to increase the trading bank to £400 as I have been pretty consistent with my trading of late.

On the football front I am struggling to work out the markets - I have spent time thinking about them but I am a long way from finding any edge yet. The fact that when a goal is scored there is such a big price change is making it difficult for me as if this happens you are facing a big loss and a goal can come in just about any 10 second period of play as I have found out to my cost. Also if you are involved in say the over under 2.5 goal market and the score is 2-0 or 1-1 any goal means you face an instant loss and normally a big one. There are some opportunities in matched towards the end to get a very quick trade in say from 1.11 to 1.05 but timing is key to taking the money on offer before a big player comes in. So as you can see I am still struggling in this area - all ideas welcome :-)