Trading software

Tuesday, April 24, 2012

Punchestown festival 2012, betting in-running

Normally, I take a week off for Punchestown and go down for a few days but for the first time in years, I won't be able to as I've too much on.  I'm a bit behind writing the book so I have to keep plugging away at that and I've a rake of other stuff on this week. Hopefully, I'll be able to watch most of it on the box.

Don't really have any strong fancies for today other than Sir Des Champs but at 1/4, I wouldn't win any awards for originality there!

The in-running trades had a break-even day yesterday and still hovers around the €280 mark. As you can see from the chart, it's certainly going well but I have this stupid niggling feeling where I'm not happy until it's back over the €300 mark. I know this is all in the mind and a couple of points here and there don't really matter but it's one of those psychological things that become hard to ignore.

It's gas, because at the start of the month, 1st April,  I was at €197 and had you offered me a 42% increase in the size of the bank by the 24th April I'd have bit your hand off. So I know I should be very happy with €280  but the fact that the bank was above €300 in the past tempers that joy somewhat. In an ideal world, the bank would be always hitting new highs but losing periods are inevitable, although knowing this doesn't make it easier.

It's a strange old thing the human brain eh?  Actually on that note, I'm thinking of doing an evening course in psychology in Trinity later this year. I done some psychology and also some sociology as part of my degree in UCD and loved it. They were only short courses but it sparked an interest. When it comes to trading/betting, I'm realising that psychology is far more important than any other factor

Anyway, here's the chart showing progress and below is Tuesday's inplay trades:


  1. hi Wayne,

    the April 13 edition of the ProXTraders podcast ( has a feature on the psychology of trading, should be right up your alley, assuming you haven't already heard it.

  2. Scott, thanks for this - haven't actually heard this yet.