Netting a cricket trading profit

The Betfair Trader / The Betfair Trader / 12 November 2007 / Leave a Comment

The Betfair Trader brings us up to date with his bank balance

Monday, November 12, 2007
Netting a cricket trading profit

Result since last update: £2755.64

That's better! A nice green to round off a weekend's trading and put the loss of my last blog entry behind me. The money mainly came from the test matches I'd been doing on and off since Thursday but there was also some profit from the weekend's NFL.

The bulk of the profit came from the first test between South Africa and New Zealand. Given I was already involved in two markets when the game started my initial position, which was a lay of the draw, was relatively small. Shame as this was the match the market behaved in the way I wanted it to the most. As the game progressed though more funds became available and I eventually ended up with around a £2325 green on South Africa. Albeit with hefty reds on the draw and New Zealand. Weather permitting I'm looking forward to more of the same in the second test.

The Australia v Sri Lanka test was less successful and I made just under £70. Hardly got involved really. Again layed the draw early and held that until the start of the 4th day. Didn't want to stay up for the match and, knowing there could be some big price movements on the day, I decided to watch the first 30 minutes or so. My plan was to level out for a small green if the price hit 5 - and watch a little longer if there was an early wicket. Well, the price hit 5, I levelled out - and the very next ball there was a wicket. My green on Australia had gone from around £500 to around £90. Not my best timing ever but not much I could do either so just shut down and left it for the day.

The rest of the profit - around £360 - came from looking in on some NFL games. As there's no cricket on for a few days now I might stay up and do tonight's too though it is a late start and I tend to need my beauty sleep these days.

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