Through the 500% mark!

Daily result: £46.07

Today was obviously a good day from the size of the profit! Things did not get off to a great start though with nothing in the first race and then a £5 loss - I was thinking here we go again!!! However, I said to myself to get focused. Logged out of Msn Messenger, logged out of Skype, shut my door and settled down to trading properly.
From then on I was focused on the job in hand and was 'in the zone', everything else was blanked out and I become very focused - I did catch myself at times slipping into my old trading style and not watching the prices of the other horses closely, instead becoming focused at times on just the horse I had an order on. This is the reason for the loss, I missed the third favourite being backed in and should have got out for a scratch but instead spotted it to late and paid the price - thankfully I had the discipline to take the loss and bail as the price drifted more and more as soon as I got out.

The first race at Wolverhampton as I am sure many are aware was voided after an horrific fall and hopefully the Jockey is okay after being taken to hospital, unfortunately the horse was destroyed. However, this meant that the racing timings were all over the place. I had a look at the next Wolverhampton race and the liquidity was poor however this was to my advantage. I made £20.57 in the next by trading the odds on favourite backwards and forwards with £500 amounts just for one and two tick profits and very little risk. On the downside though as I was concentrating on the Wolvs and Lingfield races it was meaning I was missing all the races at Musselbourgh but I decided to stick with Wolvs and Lingfield as I was trading the low liquidity markets well - taking a tick loss when necessary and taking a tick profit when possible. I hit a bit off a quiet patch where I did next to nothing for 50mins and was very nearly tempted into doing trades for the sake of it but restrained myself and thought back to my post last week about doing nothing and just waiting. Well I was rewarded for waiting and made just under £13 in the last two races. This meant by the end of the afternoon I had traded 14 races, winning on 9, breaking even on 4 and losing on 1.

I am very glad that I was back to winning ways, however, I am a little worried how the Betfair SP's that are being introduced on Wednesday will affect things - fingers crossed it won't be too bad and due to this I am holding off increasing my trading stakes until this becomes clearer. I had planned to up it to £600 on Wednesday but think it is best to hold off.

Todays earnings took me through the £800 mark on my balance and through the 500% increase of my starting bank. I hope the end of the week will see me thorugh the £900 and on my way to making withdrawals once I break the £1,000 mark!

Hope you had a good day.