Monday, 28 April 2008

Tale of Woe Again

Monday 28 April

Been losing hand over fist since Friday and that continued again today.

Isiris gave an insider bet at Yarmouth, £100 each way. As on Friday, the horse was one mentioned on the mark your card line, and with the same end result as the horse led to halfway before fading out tamely to finish last.

Mathematician's best of the day was Multicultural. Backed it each way at 20/1 and as with all good each way bets, I was out of luck when the horse finished 4th beaten 3/4 length for a place at an SP of 9/1.

Only other action today was from the mark your card line, but while the bottom line result was disappointing, things could have worked out very differently. The only winner was the strongest message of the day, Checklow at 4/6. However in the same race, there was a mark for Gaia Prince which I backed each way and which was second at 12/1.

Other notable results were an each way third at 25/1, and a second with Orpenindeed backed to win at 10/1 with an SP at 4/1.

Loss on day £573

So the last four days have seen a loss of £2825 and turned a profitable month into a significant losing one.

Not particularly bothered, as this is the way it's going to play out now having gone down the route of more bets at the same time as I have increased stakes.

However, it does bring into focus whether, I ought to mitigate some of these losses by trading back at lower odds on Betfair. Easier said than done at the moment as I don't have access to Betfair when I'm working and I can't do anything in the morning as I don't get the tips until lunchtime.

When I get some time, I will look at the results since I started and try and come up with a strategy, which would satisfy my requirements on this score.

I've been struggling with the idea of trading back for a long time now and still have yet to finalise any sort of plan. Any opinions gratefully received.

Also, when I started this blog last October, my intention was to trade price movements on the favourites whenever I could to generate some profits when my tipsters were struggling. I managed this with some success but it has gone by the board totally since last Christmas, largely due to work pressures - which will ease in the next month or so as I have taken steps to reduce my workload. Will have to start the trading from scratch though as I am way out of practice at the moment.

Plenty to think about as always.


nokiaman1 said...

Hi JP,

Did you get the message i sent by email as i didnt get a reply back. Would you give your thoughts on SLH in particular.
I havent done trading before on betfair so not too keen on that. If you had success before then do that. Its good to have rethink about a system and you're doing the right thing.

Good Luck,

JP said...

Hi nokiaman,

Didn't see your e-mail, must have got filtered out somewhere.

Will send you one this morning, and we can have a chat that way.

All the best


I like your honesty mate ,,, makes it worth reading your blog as i know your telling truth and blog is true.

Your luck will change soon mate.



Like your honesty mate.

Good blog and your luck will change

Rgdas mARK