Road to recovery continues

The Betfair Trader / Editor / 22 October 2007 / Leave a Comment

The Betfair Trader continues to rebuild after last week's body blow

Sunday, October 21, 2007Road to recovery continues

Yesterday's Result: £356.42

So another green day booked and I'm feeling back on track after my recent big loss on Betfair. Today wasn't as easy as the nice green figure sat at the start of the blog entry might suggest though. It was hard work. I made several mistakes and had to cut my losses frequently before events finally turned my way.

I got involved in two events during the afternoon - the 2nd ODI between Pakistan and South Africa and the end of tour Twenty20 between India and Australia. Had a tiring week so didn't bother getting up early doors for the ODI and instead caught a fair part of the South African run chase. Built up a nice green but blew most of it with one heavy trade near the end which went against me. No real worries. It happens and I had the sense to cut the loss on in time. Unfortunately the Twenty20 had started, liquidity had disappeared I was offering good prices to get out. Ended up making £35 or so. Had been around £300 before the losing trade. Annoying to lose on the trade but it was thought out and more times than not it will result in a profit.

Also caught just about half of the Twenty20 international which turned out to be the successful Indian run chase. This was testing. On me that is. The first two positions I opened went against me. I cut for equalish red. The next two I opened went against me. Again I cut. The numbers weren't big but I was starting to wonder if I'd get anything right on the match. Fortunately things eventually turned round I managed to get on the right side of a few price movements. Ended up making around £320 on the match. Very happy with that.

The evening was all about the rugby world cup final. We joined some friends in the pub but England couldn't quite pull off another mircale. Still an amazing result to reach the final all things considered though.

Looking forward there's a bit of a lull in the amount of cricket to be traded until early November. Betfair's planned downtime on Tuesday morning slap bang during one of the few games between now and November doesn't help either. Lots of other sports to trade but I tend to use smaller stakes on them. Not sure when I'll be firing up the trading software next but it may be for this evening's NFL games. See how the day goes and how I feel.