Saturday, 31 May 2008

A Bridge Too Far

Since Last Post P/L: £45.65
Monthly P/L: £2,805.80
When a milestone is in sight it’s hard not to try too hard and unfortunately I fell short off the £3k monthly profit I’d been hoping for. Over trading was largely to blame and despite knowing what I was doing was wrong I was drawn like a moth to flame to too many ‘false’ opportunities.
Hindsight is a wonderful thing and after I’d read the book Market Wizards by Jack D. Schwager last year, one saying stuck in my mind – “We get out of the markets what we want from the markets”. It’s a profound statement and one which I find hugely thought provoking. Maybe I wasn’t ready to start dealing in those types of numbers just yet? :-)
Here are my final trading results for May:
Rajasthan v Mumbai : £41.33
Deccan v Chennai : £149.29
Punjab v Rajasthan : £48.16
Chennai v Punjab : £44.02
Taylor v Lewis : £21.82
Rugby Union
Wasps v Leicester : £8.05
Many of you will know that until now I’ve been re-investing every penny of my winnings back into my trading bank to try and increase my stake sizes gradually. This has worked well but as I explained in this post, it’s time for me to pay the piper - or Nicola, whichever you prefer.
I guess she’s earned it and at least when I told her the good news that £561 would be winging its way into her bank account she smiled!
In a nutshell, my profit & loss breakdown for the month is as follows:
Monthly Profit : £2,805.80
Golden Handshake to Nic : £561.16
Total to Re-invest into Trading Bank : £2,244.64
I can’t grumble though, the journey continues to move in the right direction and as long as the destination allows me time to enjoy the things that matter in life I’ll be more than happy.


leonthefixer said...

Well done on an excellent month mate - I hope to be hitting those kinds of profits at some point in the future. It is always good to spend some of your winnings so you can get some extra enjoyment from winning it.

All the best for June!

Mark Iverson said...

Thanks Leon!

Have a great holiday and I'm sure the issues you've had with Betfair will be resolved by the time you get back.

All the best,