A mixed start

Last night I was looking around the Bet Angel software and finding my feet whilst looking at the first horse race for today. I was clicking to practice using the software and placing trades when I pressed a button 'make market' and it placed a back and a lay bet at the current back and lay price! Already I was to start off today -40p!


I sat down today just under an hour before the first race which was a big mistake! I had itchy fingers and starting trading with 40mins to the off as I thought I saw a good opportunity! Needless to say the liquidity was very poor at this time and I would not get an exit trade in!


Despite these couple of errors on my part the trading day was a good start. I was only using £5 stakes and it was good to get a feel for the markets again. I could not trade the full day as I had to pick up my brother unexpectedly and heavy rain knocked out the tv signal and I decided not to risk losing the broadband connection too!


I stuck exactly to my strategy I laid out last week and for the first time I accepted any loss and did not feel the urge to make it up.


There was also one market where a £12,400 bet went in the wrong direction for me and the price dropped from about 5.9 to 5.2. I placed a £5 lay bet just before the move at 6.0 and watched the market dive to 5.2 - I did not close my position as I had read about this type of situation where the market generally over reacts and will come back. After 30 seconds or so it was back up to 5.6 so closed my position there, and was pleased with the small price to pay for a good lesson!


Tomorrow I am working until 3;30pm and hoping to catch the end of the days trading.

Unfortunately I wasn't able to make the £5 profit I set out to achieve this morning, but I think I learnt more today than I would have if I made a good profit.


Heres my trading history for today:
Click here to see a detailed summary of the profit and loss.