Wednesday, 31 January 2007
End of first month
Monthly P/L: £320.60
After messing up on the Liverpool game by leaving the game too early I was hoping for profits of both the Man Utd and Chelsea games tonight. I didn't have long to wait and traded out after the first goal in both matches (both fairly early in the first half) for a profit that neutralised yesterdays loss, increased my bank and gave me plenty of time to catch the second half of the Arsenal-Tottenham match in the pub.
Its been a month since I started trading and its been brilliant so far with over £300 profit. I've traded 23 games and made profit on 19 of them. The games I've lost money on have been:
Aston Villa-Chelsea - Lost money because I didn't cover 0-0 and hung on for Chelsea goal far too long.
Tottenham-Newcastle - Got out at half time because I had things to do.
Man City-Sheffield Wed - Messed about with Bet Angel and placed bet accidentally
West Ham-Liverpool - Got out at half time because I had things to do.
So from the 4 I can put the first error down to inexperience (since then I have covered 0-0's so that any losses are cut down), the Man City match down to being stupid, and the other two because I didn't give myself time to trade the whole match (both had goals before the 60th minute). So I could really have avoided (or cut down) losses on all of the games if I had been more sensible.
That said the only 0-0 that I traded on all month was the Villa-Chelsea game so I probably did get a bit lucky with my choice of games.
So why is noone else doing this??
The majority of other trading blogs I've read have said they avoid football, or trade on overs and unders to make their profits.
Have I just got lucky? Someone posted a comment on this blog the other day asking if I have system for choosing the games that I trade on. The answer is not really. I try to trade games with Man Utd, Chelsea, Liverpool etc who are likely to score in the first half and unlikely to lose their lead. So far this has worked better than expected.
But, as I have only been doing this for a month, I am far from being experienced and would appreciate any links to other blogs/forums where people have made (or lost) money from using this system just so that I can know what I am letting myself in for. Any feedback is welcome.
But as they say 'Make hay while the sun shines' which I intend to do for the time being and look forward to another profitable month in February.
I'm not about this coming weekend so trading will have to be put on hold for a bit, but with plenty of internationals next week hopefully the month will get off to a good start.
Tuesday, 30 January 2007
A small loss
Monthly P/L: £275.40
I traded the West Ham-Liverpool game tonight, but I was going out at nine oclock and had only really intended trading up until about 60 minutes anyway. However I left to go out at half time, taking a loss with me, just to catch a glimpse of Sky Sports when I arrived in the pub to see that Kuyt had scored. If I'd have hung on for a minute longer I'd have been looking at a profit, but had just missed out. A bit disappointed but its not the end of the world.
Technical Difficulties
Monthly P/L: £298.40
This past weekend should've been a good one for trading with three televised FA Cup games but after switching on my laptop before Luton-Blackburn I discovered my Internet was down. Blackburn went on to dominate and this would've guaranteed me a profit. After speaking to an NTL 'Technical Support' representative whose lack of knowledge of English was only matched by his lack of technical knowledge I arranged for an engineer to come to sort it on Tuesday morning.
I watched the Man Utd-Portsmouth game at a mates house and managed to trade on it. Although this is where my 37.70 profit came from I wish I hadn't traded it. I felt that United would destroy Portsmouth within the first half, but after 2 disallowed goals and a 0-0 scoreline I was staring a big loss in the face and was in two minds whether to stay in or leave taking a big loss. The longer I hung on the more certain I was United would score but with less than fifteen minutes left I could've lost a lot. Fortunately Ferguson bought on some chubby scouser who managed to knock one in and I cut and ran straight away. I didn't really care about the win, and was more relieved that I'd avoided the loss.
Still feeling a bit dodgy after the United game I decided just to watch Chelsea-Nottingham Forest without trading and enjoy the match.
Anyway the engineer came this morning and sorted my broadband so might trade West Ham-Liverpool tonight.
Thursday, 25 January 2007
New Blog & the story so far
If you can't be bothered to read all of the stuff from the MySpace blog here is a bit of an update.
On Boxing Day I was introduced to trading on betfair by Mark (see his site here), who trades on a number of different sports. As he had made quite a lot of money off it I decided that I fancied a piece of it and began looking into ways for beginners to get into trading. I don't own Sky in my flat and can't be bothered with watching hours of sport just for the sake of trading (never been very interested in horse racing anyway). So I decided to trade on soccer, which I would probably be watching/listening to anyway.
My tactics are simple. I choose my match, and lay the draw before it starts (I know some might say its better to wait for 5 minutes for the odds to drop, but I don't want to end up ruing a missed opportunity because of an early goal) and then wait for a goal, and then bet on the draw, after the odds have increased. After a mishap on the Chelsea-Villa game which ended 0-0 I now also put a small bet on the no score draw to cover any losses.
As a rule I won't trade past 60 mins, but have stopped trading before and after that point depending on how I feel about the game.
After my first weekend of placing small bets and getting comfortable with Betfair I began trading 'properly'.
This was about 3 weeks ago now, and so far I am £260.70 in profit. This is despite a number of mishaps (not covering myself on the previously mentioned Chelsea-Villa game and messing up a bet by losing concentration while using BetAngel) but you only learn from experience. Some good results have given me a nice bank to trade with, and so I hope this blog will be showing a lot more green in future.
I know some people might say this isn't proper trading because I'm not trading on a constantly fluctuating market like horse racing or American football, but its working for me so far and I'm happy with the way its going. A number of televised FA Cup games coming up this weekend so I'll post then once I've traded on them.
Old Blog Posts from MySpace
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Tuesday, January 23, 2007
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Wednesday, January 17, 2007
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Monday, January 15, 2007
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Sunday, January 14, 2007
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