Calm down LeTiss,
I was just trying to make a point. There is something to be learnt in what we sometimes did wrongly. If u don't mind, I would like to post more of my p&l of late.
First yesterday was a $500+ profit in 9 races, then the day before last was a triumphant clawing back of an early big loss and ending with a small profit. Both happened before disaster strikes today, as in my earlier post showed.
The fact is this is not something I've gotten the hang of as an everyday's affair, as one would like to think. For the past months, I'm feeling as confused as anyone would be on their early foray into finding an edge in Betfair trading (horse racing in particular).
Just like rogerlisa said, when one has found an opening in doing something successfully (like having consistent gains and gradual growth in your trading), it's only natural for one to attempt to probe deeper and faster. I'm currently in the kind of state that rogerlisa referring to. Started trading on horses since late June, losing on the first few months (a couple of hundreds a month- only with money set aside for learning the trade, of course), then found a reasonable footing to trade with profits since early October. And like I said, once you have found the fountain head, everything just started to spurt and cascade. Recover my losses and triple the amount on top in one month. And it wasn't with pure lunatic laying the odds strategy that I used to make those gains. I did a lot of simple trading before the off. Nor I used a big bank at the beginning. I always re-started with a $100 bank after I busted one. Though I can't imagine myself re-ignite the process with a starting bank of $100 nowadays.
Going back to the issue of my laying strategy of late. Well, there was a time (not too long ago) I was thinking to myself. How could I speed everything up? What was a decent ROI of 5-10% of the day's starting bank was just too "SLOW" in my eyes. Then, this big idea of "why not just choose the horse with no chance to lay"
I'm not going to list out here the criteria I use to judge a losing horse. But the obvious pitfall of the idea was once you lose, you lose BIG. Then I was tinkering with all kind of compensation strategy, like laying 1 horse only in a big field of over 10 runners, withdrawing the profits (which runs the gamut of <30-100% of ROI a day) at the end of the day and keep bank size reasonable, so on and so forth. As the results were positive for a while, I just got bolder- laying multiple horses in race, (twice the return, why not), over 20 runners in a 7f race (if I lay 3 horses at a time, 3 times the return, and everything will be finished in less than 1m30s in-running). Then 5f race with 5-6 runners- yes, i can still lay that horse, I just have to exert more care- (by opening my eyes wider, as if that helps).
Now, what else have I not done?
Well, guess there must be some points to be learnt from such experiences. I did say earlier that I was trying to make one. The thing is I'm still not quite sure what it is.
Hope I didn't offend anyone.
, he hasn’t posted any of his lays, so how do people know if his results are good or where he is getting his lays from.
a truly baffling thread