Tuesday, 13 January 2009

Caught Out

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Since Last Update P/L: £306.13
Monthly P/L: £497.51
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We've all played Monopoly and we've all been saved by the 'Get Out Of Jail Free' card. Up until Sunday morning I'd forgotten how sweet that feeling was.
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Yet again, I'm kicking myself as I should know better. Twenty 20 Cricket is a high octane event and whilst I'd call it my specialised subject, I'm prone to forgetting that it takes time to adjust to the speed of the game - especially after not trading it for a while. So it shouldn't really surprise me that this is exactly what happened when I settled down to watch the Aussies take on the South Africans over the weekend. After being extremely hasty to get involved I was licking my wounds at the turn of innings and staring at a near maximum loss. It was time to steady the ship and fortunately after playing things tight I was able to recoup most of the deficit. Not an ideal way to start the season! However, I do find it comforting to know that even when I get multiple decisions wrong, I'm still able to make just a small loss. The ability to do this when things aren't going my way ends up saving me a hell of a lot of money over the course of a year and it keeps on reminding me that if I can keep to big wins, small wins and small losses I'll end up being a pretty successful trader.
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Which leads me onto my next subject - Million Dollar Traders. The idea for the TV Programme that was screened on BBC 2 last night is similar to that described in the book, 'The Way Of The Turtle'. Give ordinary people some money, teach them to trade and watch them succeed. At least that's the idea, but any of you who caught the first show last night will vouch that it didn't look that simple! What made me laugh was how similar the experiences of the novices on the show were to when I started on Betfair. I'm sure many of you recognised the weaknesses; lack of discipline, too much emotion, hesitancy, bad timing, over analysis, reluctance to trade, laziness etc. The list goes on. All good entertainment and it'll be interesting to see how the volunteers fare in the coming weeks. One not to miss, and if I'm truthful I'm a little envious that I missed out on giving this show a go :-)
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One last question. I've been a big fan of the Bet Angel team since becoming a customer of theirs over two years ago, and have always been inspired when I watch any of Peter Webb's trading videos. So after reading various new blogs where the authors mention that they've attending Peter's trading course, I now believe the time has come to make a decision on whether I'm serious about trading Horse Racing. Progress on my own systems has been slow so perhaps it's time to gather some insight? This is where I need your advice. If you've attended Peter's course previously then please leave me a comment and let me know if you think it will be suitable to my style. All the testimonials on the site look good (as you'd expect) but for £400 I'd like some independent advice before moving ahead.
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Any help would be appreciated ;-)
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Here's my full list of latest results:
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American Football : £265.19
Cricket : £33.18
Horse Racing : £18.60
Rugby Union : £55.00
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7 comments:

Credit Crunch Betting said...

Hi Mark - would you be willing to put up a link to my new blog:

http://creditcrunchbetting.blogspot.com/

I have put a link up to your blog on my site.

I would be really interested to read what people have to say about Peter Webb's course as I do some trading as well as betting.

I personally would find it hard to justify spending £400 on it though, I can understand why it costs that as you are paying for Peter's knowledge, time on the day and setting it up, the venue, his loss of earning from the day etc.

Anyway I will read on with interest.

Fancy excahnging links?

Creditcrunchbetting.
http://creditcrunchbetting.blogspot.com/

Gary said...

Hi Mark
Thought i'd give you some feed back re-horse racing trading.

I cant really comment on the Peter Webb course as i know very little about it, but i'd like to pick up on your comment regarding your systems and how slow they have been recently, so here goes...

You have had a decent run over the last couple of years or so and there can be little doubt that your strategies for one day cricket are in pretty good shape.

The last six months of your journey has been a pretty dificult time what with little Caden and your crack on the head and as a result quite rightly your trading has been on the back burner. Then when you have looked towards it again there has been little to get your teeth into. All the cricket has been going on through the night so it's difficult to get going. Last years pro 40 tourney seems an age ago and the Stanford farce did little to help.

However it's worth bearing in mind that very shortly we have shed loads of cricket to get into the W.Indies tour, IPL, Ashes, Twenty20 World Cup, Tour of S.Afica (usually fairly kind hours for us UK viewers) and thats without all the domestic stuff!! So there will be plenty for you to get stuck into and make your fortunes and i would imagine you have a bigger bank to play with now!

If anything i would suggest you look to Test Match Cricket to boost your returns the UBF can help there as the guys really know the sport inside out!

By all means have a play with racing to small stakes and see how it goes. (If nothing else it'll get you trading fit again for the feast that is soon to arrive) But focus on what you do best.

Anyway thats my thoughts (opinion) i could be totally wrong, but thats the way i see it anyway.

Mark Iverson said...

Hi Credit Crucnh Betting.

Nice Blog :-)

I'll add you to my blog list tonight.

All the best,

Mark

Mark Iverson said...

Hi Gary,

Thanks for leaving such a detailed and helpful comment mate.

I think you're right and maybe it's just me being a little impatient.

After taking a quick look at the diary it appears that from April to June/July the calender is choc-a-bloc with the IPL, Twenty20 World Cup and the domestic competitions so it's probably best to wait until they come a long before taking a serious look at the gee-gees.

I'd also like to get more involved with Tennis and there's only so many hours in the day!

Thanks again and I hope things are going well for yourself.

All the best,

Mark

Anonymous said...

Hi Mark,

Were you contacted privately at all about the course?

I was expecting a good few comments to have been made about the course but there seems to be no one around who has been on????

Well done on your recent profits - shame about the P.C.!

Leonthefixer.

steve said...

hi Mark
I have been on the course and i highly rate it.However i know some in the group thought it would be more advanced but as the say sometimes the best ideas are the simple ones.

Ross said...

Hi Mark,

I have been on the Peter Webb course and I must say was pretty disappointed with the content and structure within, it. There was no live trading demonstrated and Peter although a very nice chap didn't really go into any specifics.

Hope this helps