Friday, 25 May 2012

IPL - The End

After what seems like an eternity, today's IPL game between Chennai and Delhi signalled the end of a challenging 2 months and the beginning of my holiday. It's been a long tournament and tough at times but has it all been worth it?

To make things straightforward, I'll use some graphs :-)  First up, my completed IPL comparison (click to enlarge images):

You'll notice I didn't hit my target but I'm delighted to even get close to it after drifting off the pace in the mid-stages.Some serious lapses of concentration in the final games (which I'm blaming on thinking the job was already done) caused the blip but a nice win in the last match helped me finish on a high.

That's the overall picture but what about my key stats - what went right for me to improve so much in 12 months? How about my win %?

Not sure how I did it but from the 73 matches I played, I managed to win 65 and only lost on 8. That means my win % rose from 78.87% to 89.04%. That's quite a jump and the only answer I can give is that I knew when 'not' to get involved this year. After doing my homework before the tournament, I'd highlighted scenarios when I'd stay out of the market and fortunately it seems to have paid off. This shows that by sometimes being inactive, you can really have a positive effect on your results.

How did my average win (dark purple) and average loss (light purple) compare this year?

Well, my average win increased by 46.97% whilst my average loss went up by 43.34%.  At this point, some  of you maybe thinking how I could improve my results if I lost 'more' when I lost?  Simply put, with my win % rising and my average wins also going up I could afford bigger losses when I did lose.  In this case, the net result is that the average value that each event was worth to me went through the roof:

In total, each match was worth 97.49% more to me than 2011. The devil is in the detail and I honestly believe that if I hadn't changed my approach for this years competition then my results would have continued to decline. The moral of the story?  If somethings not working, make sure you highlight what it is and don't be afraid to change things.

You'll remember from this post in March that the IPL was proving to be a thorn in my side, I'm hoping now that I've turned things around.

Right, time for a break....pass me that sangria!

Adios for now amigos!



Mark said...

Well done, Mark, fantastic performance! Have a great holiday.

The Sultan said...

Good stuff! I wonder if maybe you used to do a similar thing with the IPL that I have always done with tennis Grand Slams i.e. because they are the major events of the year, put too much emphasis on them? I know that I have over-traded in most Grand Slams because of the extra pressure I put on myself to do well and have started to learn that staying out of certain matches should increase my profitablity. The French Open starts tomorrow, so we'll see if I can stick to that.......... said...

Well Done Mark- fantastic set of results and highlights once again the importance of good recordkeeping as you would never have been able to make these sorts of subtle chnages which looks like they have had such a dramatic effect on your profitability.

Enjoy the break and look forward to the course ;-)

Mark Iverson said...

Apologies for the delay in replying to your comments guys, but only got back from holiday yesterday:

Mark - Many thanks, always grateful for any support I receive.

Sultan - Yes, I've put maybe too much emphasis on it in the past but the problem with the IPL is the sheer number of games - 76 is a big chunk of the 250-270 games that I trade each year. Not sure taking a Grand Slam out of your calendar would have the same impact?

Geoff - Thanks again. I'm a huge fan of record keeping and I would recommend anyone serious of making money in this game to do the same. It's very easy to do when you have the processes in place and doesn't take up much time at all.

Majeda Khatun said...

A multiple bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the first win on the bet of the following game selected, and so on. Selection must all win for the bettor to win.

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Majeda Khatun said...

Interesting stat: Tigers are 44-42 entering the all-star break. Last year, the Tigers were 45-41 at the 86 game mark. And we win 95 games last year. re: ESPN Power Rankings

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Jim Philips said...

online bookmakers are quite interested in that kind of game. but at last we have vacations.