Friday, 22 June 2007

Wow!

Daily P/L: £72.77
Monthly P/L: £178.95

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A good effort this evening has left me in profit but it's also reconfirmed to me that Twenty 20 cricket isn't for the faint hearted! I knew this was the case before getting involved as I'd traded for small amounts on finals day last summer but it's really amazing how the odds can swing so much from just a handful of balls.
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Leicestershire v Yorkshire
Throughout today I'd convinced myself that this game would be a washout so I was chuffed to bits when I got home from work, knocked on the TV and heard that even though the start had been put back the players were due to come out in 10 minutes. It took me a while to realise that due to the delay, the match would be restricted to 16 overs but once I'd realised my mistake I made a few calculations before scribbling down that a par score should be around 135.
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The Foxes won the toss, decided to bat and got off to flying start. After just 5 overs they'd scored 53 runs and it was of no surprise that they eventually notched up a target of 154 for Yorkshire to chase. At this point the market made Leicestershire strong favourites and their price was hovering around 1.40. I made them strong favourites too. It was going to take something very special from Yorkshire to win this one so my strategy for the second half was to wait for the right opportunity and then lump on the hosts but this where the opportunities come in Twenty 20.
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Okay, so Leicestershire should win and probably win comfortably but did their price of 1.40 offer value? The answer was no. I got this one wrong - I thought it did and got stung as within the opening 5 overs Yorkshire rattled up a score of 57! The price on Leicestershire had swung from 1.40 to 2.20 within 30 balls but fortunately I'd managed to get out at 1.56. This is how volatile this market is but even though it's extremely scary, it's great at the same time! Was Twenty 20 invented for exchange trading?!?
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Things started to go my way again when Yorkshire lost a couple of quick wickets and I jumped on the Leicestershire band wagon. I gradually rode their price down from 1.62 until the result became a formality.
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The good news is that this week everything goes Twenty 20 crazy - there a game on every day and if you're serious about trading you can't miss getting involved. It can be dangerous but if you apply some thought the rewards can be huge.
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2 comments:

The Betfair Trader said...

Great fun wasn't it! Like or loathe the format noone can deny it isn't exciting. And as you say not for the feint-hearted when it comes to trading. Nice result and good luck with the upcoming matches.

Mark Iverson said...

Hi BT,

It get's the adrenelin pumping that's for sure!

Well done on your result and good luck for the busy week ahead!

Mark