Trading software

Monday, February 28, 2011

Lady luck


A pretty decent  day profit wise with €227 banked although the Roman Goddess Fortuna, otherwise known as ‘lady luck’ was looking down on me for one particular race. I only started trading after lunch as I had a meeting this morning so I’m glad to have pulled that much out of the markets in half a day. 

In the 5.00 at Wolves, I made some horrendous trades and ended up with a red book on both Black Pond and Sim Sala Bim – the latter horse potentially costing me over a ton. Another horse, Arizona High was the only other one in with a chance on paper and I quite fancied it so I let the red books stand and hoped for the best.I know this is punting rather than trading so I shouldn't have really done it - but thankfully it worked out.

Loads of money came from Sim Sala Bim and it was backed down from 4s to around even money – a huge move. At that stage I wanted to take it on even more as I generally try to take on the steamers.
But low and behold, a no hoper Needwood Ridge goes and bags the race around 118/1 on Betfair and this netted me 84 quid as you can see from the screenshot of the race as it ends. I should have won a bit more to be honest but I had layed the field in-running at 1/10 so got hit with that. Who would have thought this horse could win? No-one it seemed. Still though, can’t complain!  :

I noted before that I find the odds-on horses hard to trade and the 5.30 was a real rollercoaster. I was up 40 quid at one stage and lost it all and near the off, I was looking at a red book of minus 30. Then, the prices swung again and was green. I said feck it and I got out for a profit of just under a tenner. I’m really starting to dislike the races with horses under 1.8 or so – as I said before, the significance of the price moves are a bit more difficult to grasp sometimes.

I see that the last race of the day at Wolves has another odds-on horse but I’ve decided to finish up for the day while the going is good. I'll just watch it instead and see if the odds on horse is as good as the market thinks. 
Not only is the horse odds-on, I often find that the last race of the day can be a bit mental as plenty of people who have lost money today will use it as their ‘get out’ race. This sees the prices go a bit crazy sometimes and it’s hard to know how much of the money is from desperate punters trying their best to chase some losses. I know that this happens because I’ve been there on many occasions – not a good place to be!

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