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By Tomas in Tom's Blog 4It's been quite some time since my last trading challenge on Betdaq. It ended faster than expected. Because either of the bad software quality or the API quality of Betdaq, I couldn't have a confidence in my open positions. Sometimes there was a difference between my open position displayed in the software versus the Betdaq website, which is less than optimal situation.
I have also received a message from @Luciano who wanted to see some challenge again. On top of that, I always wanted to post some information regarding my trading, sometimes with videos, but I didn't want to push myself into another challenge. These days, trading is not my top 1 priority and I dedicate quite a lot of time to other stuff so pushing myself into a challenge would not make me feel comfortable. I was thinking about the concept and yesterday, out of nowhere, the Eureka moment came to my mind.
I will not be doing a challenge in a way to "earn X over the time period of Y". I will just post some random stuff that will come to my mind when trading, maybe a few times per month, just as it comes. There is no need to produce new content at any cost, I just want it to be enjoyable for both sides, you and me. Yesterday I started trading little earlier and I noticed there are some Australian races before the UK racing started. I used these markets to warm up myself and I recorded a few videos of how you can make the market in a low liquid race. I have always seen a very nice opportunity in low liquid markets because of the possible ROI. If you do it right, you can scalp many ticks with a small stake and have a good return. I think this is also a good complementary solution for beginners. If you can make a little profit from low liquid markets, it does encourage you and it may cover the cost of learning how to trade on bigger markets.
If I will make any videos in the future, they may not be with a voice over. They will most likely be with some written description inside the video. To be honest, it's quite a pain for me to do a voice over and maybe it's a pain for you to listen to it as well I hope you understand my reasons.
So here is a video regarding the low stakes:
Occasional trading - low liquid markets.mp4
And below is my result from yesterday's trading as a whole:
My starting bank was:
And I ended up with:
Can you see? There is no point in risking huge amounts in order to earn a decent return. I was able to earn 55% on my initial deposit just in one day. So that's my message of today's blog - keep it simple and don't risk much. There is no need for that. Just stick to your rules and don't increase your stakes until you see some results.
By David in David's Blog 3Another big losing day. Didn't do much in the first few races, 2p down, I can tolerate that.
But then the huge losses arrive again.
In the 16.10, the favourite was getting backed down to 3.6 then reversing and drifting up to 3.75 or 3.8
It was doing this for several times. So, I thought the bottom of the range was determined at 3.6
When I decided to lay at 3.6, the market suddenly crashes down, and I took a 9 tick loss.
When it neared the crossover, it slowed down. I layed at 3.1 losing 2 ticks (just as well because it steamed well below the 3.0 crossover).
I layed twice at 2.86 gaining 4 ticks over the 2 trades. But overall, losing 74p.
The 16.30 was good for me. Backing at 4.1 for 2 ticks. Backing again at 4.5 for 4 ticks. A 57p profit on a race is a good result with £5 stakes.
Then a huge loss in the 17.00 The favourite drifted up to 2.48 and didn't want to go any further. I backed at 2.48 for 1 tick.
It dropped a few ticks. When it reached 2.46 I backed again, suddenly losing 5 ticks.
It came back down again, before drifting to 2.54 and not wanting to drift further. So I back.
Within a couple of seconds, it shot up to 2.74, so took a 10 tick loss. Why this happened is beyond my understanding.
Tried another trade losing 2 ticks (ok, fair enough).
The market dropped to 2.42 and hesitated. Often 2.4 acts as the bottom of the range.
This time, I layed. The market suddenly crashed down, making me lose 6 ticks.
So, whatever I tried, everything was going wrong. Lost 22 ticks altogether on this race for a massive loss of £1.02
This has put me well into the red for November (although I'm glad I'm only using £5 stakes, so my losses are only a few pence a day, but still frustrated at the constant losing).
Even if I make a profit tomorrow, I know I won't get back the current months loss.
I am a failure trader.
By David in David's Blog 0Generally on Saturdays, it is best to back the favourites at a high point (because all the mugs keep wanting to back them).
Did so on every trade today. But in the 14.45, I backed at 3.25, which was the highest point it had ever been.
Then a massive sudden lay spike, when I had to lay at 3.7 (which is a 9 tick loss). I did back again twice at 3.65 to gain 3 ticks profit.
Made that 40p again in the next 2 races.
So, recovered from a losing position, and turned it into a profitable day.
By David in David's Blog 0Not many races at this time of the year. 2 only had 3 runners, which I don't like dealing with.
Managed a profit today on 3 races by backing the favourites at a high point.
Could have had more, but 5 offered bets didn't match, as the market moved too quickly.
By David in David's Blog 0I realise why I lost money yesterday. Last week was unusual in that the high stake traders weren't around, so there was more value to back the favourites.
I followed on by backing on Tuesday and lost. The traders were back this week in force. I know that by the way the markets behave.
Today, I lost 8p but regard it as successful.
In the first race, I had a big loss of £1 The odds started out at 4.5 it drifted to 5.0 then hesitated (because not many people are willing to lay a favourite at high odds, due to the liability), and so I backed at 5.0 lost 3 ticks. Tried another 3 trades. Lost 10 ticks altogether in this race. Couldn't believe that no one was backing at that stage.
The trends in subsequent races behaved in their predictable way. Made a mixture of back and lay entries, depending on where the market was at the time.
8 wins later, I brought the initial loss from £1 down to 8p. So it is not so bad.
Could have been profitable because in the 15.20 at Ayr, I missed the opportunity to lay at 3.55 for 4 ticks (I estimate a profit of 28p).
The strike rate of 8 out 9 is more pleasing to me than losing 8p.
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