The Challenge: to increase my trading bank by 5% per month.
The story so far...
Starting bank: €1,000 (beginning of May 2010)
Target for end September: €1,276.28
Today’s opening bank: €1,426.75
Today’s closing bank: €1,484.75
Today's profit/loss: +€58.00
Today's turnover: €11,615.73
A cracking day for the Betfair balance with a profit of €461.06; however most of that was earned from a traditional win and place bet on Redford in the Ayr Gold Cup which provided a profit of €361.76 and €41.30 respectively. So the actual profit earned from trading was €58.00 which is pretty decent.
I know it's nothing to do with this trading challenge but I'm particularly happy with that bet on Redford. I put it up as a bet in the paper so it was very pleasing to see Frankie storm home. My 'each-way outsider' selections in the Irish Independent newspaper have been going over the bar lately with many placed at big prices. However, I scored a goal today which is a great boost for my article.
Regarding the trading, it all went quite smoothly really. I was just doing some scalping and getting a tick or two here and there. The liquidity wasn't great in some races and traders usually complain about this - however, this also presents an opportunity as you can get in early ahead of the queue especially at the vital crossover prices like 2.0, 3.0, 4.0, 6.0, 10.0 etc.
I'm off out to a school reunion tonight so that tops off a very nice day.
Little and often soon adds up
9 hours ago