Reappraisal of Strategy

Spent some time today studying where I am and how I am going to move forward.

The things that are going well are tennis trading, football goals trading and NBA basketball trading. In the neutral camp has been NHL Ice Hockey and American Football, problem with the NHL markets are the lack of liquidity so I intend to sadly drop that from my strategy. With the Superbowl on Sunday the American Football exits the scene until September when I may revisit if I'm still going.

Negative aspects have been 2-fold, the first being my propensity to gamble with certain markets and bets where I have followed my heart (occasionally my brain) and ended up losing moderate but accumulating sums. The second negative has been my trading on horses. Having studied my results I have identified what I believe are the problem areas. These are basic problems, failure to accept a loss and trading to close to the wire and ending up going in-play. More worring is the issue of concentration in as much as I build up a reasonable profit on the day and then become over confident and end up wiping that profit out and worse. My best days on the horses have all involved an early loss and the need to rebuild.

To this end I have decided that I am now going to set myself a small target each day and stop trading as soon as that target has been reached. I will be using betangel and setting a horseracing target of £20 each day for the next week.

If I can achieve this along with some modest trades on the football I can hopefully pull ahead. I'm not setting a specific daily target for football trading but will look for around about the £10 mark which will vary this depending on the number of suitable games to trade on. I'm basing this target on profits of £24.91 (4games) on Sunday, £5 (1) Monday, £9.35 (3) Tuesday and £11.53 (3) today.