Friday, 11 November 2011

Work In Progress

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I've been continuing to fiddle with my in-play p&l monitoring tool since my my last post and really feel it's helping me take a broader view in the markets I'm playing.
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Many of you'll have noticed an increase in the number of fast picture merchants on Betfair over the last few years which has meant the opportunity of nicking a tick here and there is fast disappearing.  This lack of bonus ticks can make a big impact over the long term so I've been very conscious that I need to adapt in some areas to make up the shortfall.  In addition, when using bigger sums it's harder to get in and out so being more selective and looking to hold positions for longer seems to be a logical move.
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First up was the 1st Test Match between South Africa and Australia in Cape Town which turned out to be an extraordinary affair with 23 wickets falling on the 2nd day - totally bonkers!  Here's my graph - click here.  Once again I played very cautiously on the first day before realising it was time to get a bit more aggressive when things were starting to happen.  I didn't push it though, and decided to call it a day at the end of the South African 1st innings.  Lucky I did as Australia were then bowled out for just 47!
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Yesterday's second event was some more NFL action with the Raiders visiting the Chargers.  As you can see from this graph, things didn't go to plan yet again as the visitors got an early lead and I needed to claw things back.  The positive?  Well, I finished with a profit and by not monitoring my risk throughout I may not have.  I'm sure the monitoring tool saved me but as the end of the game became more volatile the market became illiquid resulting in some inaccurate figures being recorded on the chart.
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Hope you're liking the screenshots as much as I am :-)
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2 comments:

- said...

Hi Mark, excellent blog. I was wondering if you would consider a link exchange? I am a young small time trader learning the ropes, my blog is http://bet19.blogspot.com/

Thanks, Josh

Mark Iverson said...

Hi Josh,

Thanks for the link. I've added you to my blog roll.

All the best with your journey.

Mark