Thursday, 5 June 2008

Hitting It For Six


Since Last Post P/L: £164.69
Monthly P/L: £164.69
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Everything must come to an end and this is what happened to the inaugural Indian Premier League on Sunday. The final didn’t disappoint. The tournament was decided on the last ball and the Rajasthan Royals were crowned unlikely champions. In reality, Shane Warne’s men had been the best team throughout the competition so in the end they got what they deserved.
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For me, the conclusion of the IPL signalled a stop to a gravy train that had been yielding consistent profits over the last six weeks. It was fun, entertaining and lucrative but now it’s time to look forward to what the rest of the summer holds in store.
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June will see the start our own domestic Twenty20 Cup and with Wimbledon on the horizon I may even look to dabble in the shark infested Tennis markets. I’m feeling a growing urge to get involved with this sport and with more time on my hands this seems like an ideal time to try.
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Here’s my latest result:
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Cricket
Rajasthan v Chennai : £164.69
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BUT…before any more trading happens I have a more pressing matter that I need to deal with first – a 4 day stag do to Ibiza! We leave first thing tomorrow morning and before you start thinking I’m mates with Wayne Rooney I’ll make it clear that my friend looks more like Wayne Sleep :-)
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It’s going to be a messy one, there will be burnt holes in my pockets and I will inevitably incur the wrath of Nic on my return but the question remains…..will I last the pace?
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9 comments:

The Betfair Loser said...

Try not to get too drunk ;)

Anthony said...

Have a good time Mark.
I look forward to your posting on the tennis when you begin.

slipperytoad said...

Have a good time Mark. Back in the day Ibiza was my first spanish holiday via 18's 30's. I only lasted 10 of the 14 days. I'll let you fill in the gaps!

Anonymous said...

Hi Mark,
congratulations !
Happy to see your recent results :) .
My advise is :
1.Don't try to increase stakes.
2.Don't try to change your strategy.
3.Stick to sport/sports in which you think you've edge.

In summary don't try anything new.
All the best.
Dip from findfreelay.blogspot.com

Mark Iverson said...

Too late BFL...I got way way too drunk! ;-0

Mark Iverson said...

Thanks Anthony,

It'll be interesting to see what happens with the Tennis but I'm under no illusions - it'll be tough.

All the best,

Mark

Mark Iverson said...

Hi Mike,

Ha! We have some more things in common then - the last time I'd been to Ibiza was on an 18-30 trip when I was 18!

It was very strange to pass the same spots again (Hotel, the Egg etc.) that I visited back then.

All the best,

Mark

Mark Iverson said...

Hi Dip,

Great to hear from you mate. I hope things are going well with the cricket for you.

Thanks for the advice but each point you make does seem to go against my current 'trading ethics'although I do understand your thoughts. Let me explain:

1. If I hadn't increased my stakes over the last 18 months then I'd still be playing with maximum stakes of £100 and wouldn't be making the amounts I am now. However, I have improved my management of risk. I now only risk a maximum of 14% of my overall bank on any one trade compared to 40% when is started.

2. I find being flexible to change essential as the markets will not react the same way forever. However, I won't make changes if there isn't a need to do so.

3. I agree with the majority of this point but there's no reason why you can't study a new sport to discover an edge. This is what I did with cricket, darts etc. so all sports need to remain on the radar just in case.

Thanks for your comments though. I guess that's the beauty of trading, there's more than one way to skin a cat.

All the best,

Mark

Dave Parfitt Kardiff said...

No Mark,

I heard you didn't last the pace !! took yourself off tour for 2 days I hear......