Sunday, 31 August 2008

The Grinder


Blue :2008
Pink : 2007
Orange : 2006
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Since Last Post P/L: £85.15
Monthly P/L: £1,267.17
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It's been a steady if unspectacular end to August but it's left me with a decent return for the month. I was hoping to do better but the important thing for me now is to remember how my results this year compare to where I was 12 months ago. Growth is the name of the game and if I can continue to earn more than the equivalent month in 2007 then I'm continuing down the right track. However, my mind has been wandering lately though so I'm aware I need to buck up my ideas. This could be easier said than done as September now looks a bit bare after the Champions Trophy cricket tournament being postponed and the ever unpredictable British weather threatening to wash out any scheduled cricket. With my trading portfolio now relying so heavily on the bat and willow I'm once again feeling anxious that my good form won't continue as I'm forced to explore sports I'm less familiar with. To this end I'm going to make a concerted effort this year to make the NFL pay and just hope that these weekly match-ups can keep me ticking over until February.
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Here's my latest results:
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Cricket
Worcestershire v Gloucestershire : £77.87
England v South Africa - 4th ODI : £3.33
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Rugby Union
South Africa v Australia : £26.04
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Horse Racing
Barth : £16.03
Market Rasen : £1.88
Ripon : £2.00
Chester : £0.12
Sandown : £0.43
Newton Abbott : £0.92
Chester: £4.47
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As you can see, the Horse Racing trading still continues to fail!
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On a much brighter note, Caden has recovered well from last weeks escapade much to Mam and Dad's relief, so many thanks to all those who gave their best wishes :-)
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16 comments:

Anthony said...

Doesn't look too bad overall does it? The horse racing is a bugger to get to grips with but it can be done, after all, I did it and I'm as thick as two short planks!

ps said...

keep the good work!!

best regards
ps

Delta said...

Mark,
No offence but i want to ask you one thing ?
Why we believe in your P/L?
Have you ever shown screen shots ?
You are showing cricket profit in more than 90% matches.
I can't digest it frankly because it's not possible.
There was some betfairtrader blog some time back and he was showing profit like you.But now stopped updates because i think he was showing fake results and actually in loss.

As i said earlier no offence mate but frankly i can't believe in your results.
If it is true then good luck for future.
Delta

Anonymous said...

Delta,

I can easily believe in Mark's profits. The betfair trader is still going strong. Have a look at his blog:

http://thebetfairtrader.blogspot.com/

He did a single update back at the start of June and that had a screen shot of his May profits, they were near £11k.

The profits these guys talk about are achievable. Have faith my friend - you may learn something!

Keep up the profits Mark!

All the best,

Leonthefixer

Mark Iverson said...

Hi Anthony,

The horse racing trading makes no sense to me!

I just can't figure out why those prices move......aarrghh!

I think I'd be better off punting but then that'd be outside of my current strategy.

All the best,

Mark

Mark Iverson said...

Thanks PS!

All the best,

Mark

Mark Iverson said...

Hi Delta,

Thanks for the comments.

I understand your point - having consistent profits in one particular sport can look a bit suspect but I can honestly say they're accurate. I'm actually flattered that you think I'm making them up! :-)

In truth, I've just watched so much cricket over the last 18 months that it has become much easier to predict how the market will react in certian situations and also when the scoreboard doesn't match up with the odds available. It really isn't rocket science - it just takes a lot of patience and I think this is where alot of people get frustrated.

Anyway, I hope you continue to read the blog and wish you good luck with your trading.

All the best,

Mark

Mark Iverson said...

Hi Leon,

Thanks for the positive words.

I can appreciate where Delta is coming from - most of the people in work who are familiar with what I do on Betfair find it difficult to comprehend too!

Cheers mate and it's nice to know you're still around :-)

All the best,

Mark

Anthony said...

Hi Mark,
You must be quite chuffed that people can't believe it's possible to do what you're doing! Keep it up!
Your comment explains why people so often don't manage to make consistent profits on the horses. You don't need to know WHY the price is moving, just react to it when it does. That's why so many successful racing traders are contrarians. Don't keep following the market because there are so many mini movements in both directions that it's difficult to decipher what's happening but that does offer opportunities to scalp. When you feel a decent movement has come to an end go against it and decide where you will cut out if it continues against you. Don't let it go further than that - discipline! Also, I would say don't pay attention to TV pictures until you're sure you know what you're doing because it's just a distraction. I never have the TV on.
This is obviously my humble opinion and if anyone has anything better to offer feel free!

Mark Iverson said...

Hi Anthony,

Some great advice there - thanks alot - I may just give it another go today!

All the best,

Mark

Loocie said...

Hi Mark,

nice to hear from the good recovery of Caden and it is also nice to see your good trading results.
In my last blog entry I referred to your money management strategy described in your blog entry How Do You Like Your Stake?. I have a question described in my blog entry near the paragraph starting with "Mark Iverson - How Do You Like Your Stake?"about how do you use the staking strategy. Please have a look at this paragraph. Would be nice to hear from you.

All the best, Loocie

Mark Iverson said...

Hi Loocie,

Thanks for the comment - I'll leave a comment on your blog today.

Cheers!

Mark

Delta said...

Hi Mark,
Sorry if my comment hurt you or any of your readers.
I do believe in your results now.
All the best and keep it up.
By the way what's your betfair forum name ?
Regards
Delta

Mark Iverson said...

Hi Delta,

No problem.

My forum name on Betfair is marky sparky - when I became a member in December 2001 I signed up to the forum straight away and have regretted the name ever since.

What's your foum name just in case I bump into you?

All the best,

Mark

Anonymous said...

Hi,

I'm H. and I work in a company interested in blog advertising. I found your blog engaging and I'm contacting you to ask if you are interested in blog post sponsorship.

If you are interested, kindly mail back (k5ino@bigstring.com) and I'll send you pricing details, guidelines and processes. Looking forward to doing business with you.

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H.

Mark Iverson said...

Hi H,

Thanks for the message but I don't think sponsorship is for me.

All the best,

Mark