Hi Guys!
Those of you that were looking at my previous blog will know that I have been trying many trading and gambling angles. I started by looking at Horse Trading the way that Caan Berry trades. I even spent £1,000 with a "so called" professional trader, well that was money down the pan. I also traded football and tennis, all with the same results, nice profits 4 or 5 days running then a losing day that wiped out the previous profit.
I have spent more money on trading than I have spent on some cars! So, enough is enough. I have to accept that trading isn't for everyone and one of those people is me.
But I am a bloody good gambler. So, going back to basics, and back to what I started out doing in racing, is laying horses to lose.
Back in the heady days of the mid naughties I began to develop a method of choosing horses unlikely to win races; horses to lay in the win market. In May of 2007 I was getting quite good. In November 2007 I had £100 in a Betfair account. By May 2008 it was a little over £3,500. In fact, I have a screenshot I took back in May 2008, it says 7 days but was 8 days, 2nd to 9th May:
So, what happened... well I started to complicate things.What I thought was making me better was. actually, making me worse! Oh, and dont ask what I was doing with Tennis, I dont recall, which is a real shame :).
So, last month I went back to basics. My betting bank had been severely depleted by trading, and I was not prepared to add from personal funds so it had to be rebuilt through gambling, though laying horses to lose and a few bookie bonus grabs. So, here's what has happened in the last couple of weeks...no point in going back too far, just from 1st May. Oh, that will be in a few posts from now...I have 16 screenshots to make from Betfair :D
Cheers,
Dean
Dean, our stories are so similar it is unreal ! I too followed the same path with trading, pre-race and then in running for large stakes, lost very serious money and all the time my laying of horses was ticking over nicely in profit. I reached the end of the trading line last week (as per my post on Dave's blog) and now rebuilding my bank via the laying. It will take me 5 years I reckon to recoup trading losses!!!!
ReplyDeleteGood luck to you Dean and I shall read this blog of yours with interest.
Cheers
Steve
Hi Steve,
ReplyDeleteSounds like we have gone through a baptism of fire. :D
Well, I had a losing day yesterday, first time for a while so it was on the cards.The difference I found between laying and trading is that knowing how to trade doesn't make you a good trader but knowing how to lay is different. Well, that's what I aim to prove on this blog :D
Cheers
Dean