Monday, 3 December 2007

Step By Step

Since Last Post P/L: £89.89
Monthly P/L: £89.89
Rome wasn't built in a day and by the look of things neither will my trading bank! It's been another tough weekend but the positive thing to keep in mind is that I've still been able to turn a profit. As December is another relatively quiet month I'll be more than happy to make a 10% growth on my trading bank (around £640) so I'll continue to try and pick up the gains wherever I can. Here's a brief round-up of my weekend trading:
Llanelli v Saracens - EDF Cup
This 'winner takes all' match took a while to get going as the atrocious weather decided to play it's part but when things stepped up a gear in the second half it became nail biting stuff. As per usual I only traded the first half and after getting on the Scarlets before they took a commanding lead, I levelled out my position to take a reasonable £39.31 profit.
Barbarians v South Africa
Easy come, easy go! My decent start to the day soon evaporated as the 1.35 South Africans got turned over by a very talented Baa Baas side. I missed a great opportunity early in the game to lay the Springboks as their price began to drift quickly once the market realised we had a contest on our hands. However, by the time I realised it was too late and I ended up evening out my losses to take a hit of £30.87.
South Africa v New Zealand - 3rd ODI
This was meant to be the highlight of my weekend - a chance for me to put a positive step forward and cement a strong position for the month. What happened? The Proteas cantered to an easy victory and I whimpered to a gain of £6.12! Not much to write home about for 4 hours work! During this match I did check on Dip's Blog to see if his strategy for trading the first innings was similar to mine and I was very impressed with his approach. Dip knows his cricket and if you haven't read his blog you're missing out - take a look by clicking here and I'm sure you can learn alot from his style.
Jacksonville @ Indianapolis - NFL
My Sunday had turned into a damp affair and I was determined to try and make some sort of success of the day so I decided to take the plunge and got involved in the NFL. I really enjoyed trading this sport last year and I'm glad I took another look today as I seemed to read the game well and was able to ride the price movements when they happened. It wasn't an error free performance but it was enough to make me a profit of £75.33.
Not the most exciting few days I've ever had but I've got to take the rough with the smooth as it's all part of the game. The trading diary looks empty until next weekend so have a good week and be lucky!

4 comments: said...

Hi! I've recently launched I've already added a link to your blog/site and I'll be including your posts to the updates. Keep it up!

JT26 said...

Hi Mark,

A question if I may:

When you mention that it is your target to add 10% to your trading bank this month which from the figures means your trading bank is around £6.5k. Do you keep that £6.5k in your betfair account and if so what percentage of your bank do you use to trade each event? I'm beginning trading shortly after some market research that has proved encouraging in ODI's but 10% doesn't seem that big a growth to me unless you aren't using the whole figure to trade with. I hope I've made sense and you know what I mean. Cheers


Mark Iverson said...

Hi JT26,

Thanks for taking an interst in my blog.

Yes, at the moment all of my trading bank (approx 6.5 k) is split between my betfair and Betdaq accounts.

When it comes to stake sizes it all depends on the odds of the selection - i explain this in more detail in this post:

You're right though - 10% is very conservative growth but remember that I only trade part time and November through to February are the quietest times of the year for me.

I hope this helps and good luck with your trading.

Kind regards,


Mark Iverson said...

Hi Betstories,

Thanks for the link and good luck with the blog.

I'll set up a link to repay the favour tonight.

All the best,