Tuesday, 1 May 2007

Making A Break

Daily P/L: £62.71
Monthly P/L: £62.71

The future's bright, the future's snooker! Well, maybe not but from what I can see it looks like a game I should be able to make money out of. One thing is for sure - it's very volatile especially if you get involved in the frame markets which is what I did today. After reading Gareth's post I tried to make sure I limited my risk by reducing my maximum liability to 9% of my bank and due to the dramatic price fluctuations this was more than enough to make decent figures. At one stage my green figure was quite a bit higher than the one I'm posting but I got caught in one frame and that was enough to make me pack it in for the afternoon.

I also did something very wise today. I often here of disaster stories from other traders that normally go along the lines of "Betfair suddenly crashed, I couldn't get out of my trade and I lost £400!" As I don't want to be in this position I decided to split my trading bank by transfering enough cash to my Betdaq account to cover my largest trade. Even though I've got the Betfair telephone number pinned to my desk sometimes this isn't enough and this will give me another escape route should it be needed.

It'll be more snooker for me tomorrow but I've already got one eye on the Taylor v Barneveld showdown on Thursday.
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2 comments:

STST said...

Hi Mark,

Thanks for highlighting that article, he says sarcastically! Glad to see you had a good start to May. I have to buy a new computer, I'm just looking for a cheap piece of crap at the moment because I'm going on holiday this month and a certain frame of snooker means I have to settle for something slow and shite! Any ideas (preferably a laptop)?

Best Wishes,

Gareth

Mark Iverson said...

Hi Gareth,

After yesterday's loss I'm not sure I'm the best person to be taking advice from!

If you're looking for a computer/laptop and you don't want the hassle of building it yourself I'd recommend buying the latest edition of PC Advisor magazine. they have a list of top 10's in there for every price range and they know their stuff.

I hope this helps and good luck for May.

Mark