Thursday, 13 September 2007

Hello Big Time!


Since Last Post P/L: £703.03
Monthly P/L: £849.80
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How can you explain what we do to people in the normal world? It's practically impossible! The conversation I had with my Dad this afternoon is a prime example - it went something like this:
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Me: Hi Dad
Dad: Oh hello, how are you?
Me: erm, pretty good thanks
Dad: Been up to much?
Me: Not really, ummm, well I did just make over £650 trading the cricket!
Dad: ........(SILENCE)..............
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It's bloody ridiculous! Fortunately my Dad is better than most as he understands gambling and my involvement with it but I don't think even he was expecting that, so what chance do I stand with the average Joe Bloggs off the street? As soon as they hear the 'G' word they automatically associate you with being a loser so I normally avoid saying anything but I still have the urge to let people know about trading on Betfair. I just can't understand why everyones not doing it!
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South Africa v West Indies
What a game and what a cracking way to start the Twenty 20 World Cup! The atmosphere at the Wanderers stadium was second to none and this must have helped motivate the players as they put on a hell of a show. Chris Gayle was simply sensational and his 117 off 57 balls looked likely to give the Windies an unlikely victory but the South Africans refused to lie down. Despite taking a whack to the back of the hand off the first ball, Graeme Smith recovered and propelled the home team forward but the key to this match was the number of wides bowled by the visitors. They gave away 28 extras which is simply too many in this format and were made to pay the price. In the end the Saffers made it look easy and they cantered home with 14 balls to spare. I made a gain of £105.90 on this one.
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Pakistan v Scotland
I was always looking for something that was unlikely to happen and this resulted in me losing a few ticks here and there. Not my best trading performance as I lost £55.86 and I need to look at how I trade one sided matches in more detail.
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West Indies v Bangladesh
What can I say about this one? I ended the match with my biggest individual win since I started trading - a whopping £652.99 - can it get any better than this?!? For those of you who are new visitors to my blog please understand that this is a big deal to me, especially when I put into context that this win alone is over two and a half times the amount I started with as a trading bank just over 12 months ago. Back on the 29th January, Matt from Punt.com left me a comment after reading this post and as part of his advice he said that "big things are possible from small beginnings". This thought has stayed with me ever since. It's helped me stay motivated through some of the tough times and it was so nice at the time for someone to back up what I thought was possible. So thanks Matt - I'm now starting to get a feel for exactly how big things could get if I can keep disciplined. I realise my progress won't continue in a straight line but if I can ride the trading rollercoaster and keep my head who knows what could be possible?
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So how did I make a profit on this match? Well, without giving too much away, the short and long of it was that I was keeping an eye on the Windies performance. As Twenty 20 is a completely different game to even 50 over ODI's the teams are far more evenly matched. I was able to identify when they were struggling and opposed them at numerous times throughout both innings. Their score of 164 was nothing more than 'par' and I knew that if the Bangladesh team could make the most of the fielding restrictions they'd be in the box seat. The Bangla's lost a wicket almost immediately and the Windies price dropped to 1.19 but the batting team recovered well and it's at this point I made a significant move. I rode my position as the market started to latch onto the fact that the Windies were in danger and the rest is history. Needless to say, I'm chuffed to bits and I can't wait for Australia v England tomorrow!
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12 comments:

Dip K said...

Well done mark,keep it up.Playing (laying) with short odds is always worth,because we can expect small loss and big win in them most of the time.
Cheers

Mark Iverson said...

Thanks Dip!

Glad to see you're doing well too and keep up the in-play advice.

All the best,

Mark

Pete Nordsted said...

Mark, you have done extremely well. I also try and advocate people to start off small get experience and slowly build and hopefully the results you are now achieving will come to fruition. Very well done and keep up the good work.

Pete

Mark Iverson said...

Thanks for the message of support Pete,

I've just got to keep the performance up now!

Cheers

Mark

Jimmakos said...

So true that "gambling" is so misunderstood in the real world. Wish I had a dime every time they looked at me suspiciously!

On the other hand, when the author of DaVinci Code, Dan Brown, was asked about some bad critics his book received and some negative comments of his writing style, he answered: "I don't have the time to deal with it, I'm too busy counting the money". :)

Mark Iverson said...

Hi Jimmakos,

I'm going to keep that quote handy - it's so true!

All the best,

Mark

The Betfair Trader said...

Great result Mark. :-) Nice one.

Mark Iverson said...

Thanks BT!

It's nice to have you back :-)

Anonymous said...

"Well, without giving too much away.."

Ready for the big time, I reckon, watch out you dont got a swell head.
Well done mate.

Prekladatel

Mark Iverson said...

Hi Prekladatel,

Don't worry - I'm going to keep my feet on the ground and not forget where I started from!

Thanks for the support

Mark

Matt said...

Well done mark ! Really enjoying the blog, keep it up and you are right in your newest post, the times straight after a big win are just as important, perhaps more so. Forget your good win, bank it and continue with exactly the same mentality as before. Great stuff, Matt @ Punt.com

Mark Iverson said...

Hi Matt,

Sorry, but I didn't notice your comment until today!

As you do this for a living it means alot to me that you take the time to tell me I'm heading in the right direction.

All the best and thanks for dropping by.

Mark