Firedave trading Betfair with Bet Angel

Documenting my experiences with Bet Angel using BetFair. This will be used to record my progress as I take trading on full time.

Bet Angel - The most effective tool for Betfair
Feb 26, 2010

February Stats

P&L: £10.11
Average P&L: £0.72

I'm not trading tomorrow, I find the Saturdays a little chaotic even with Newcastle off again!  There will be some good racing with more Cheltenham hopefuls running at Kempton.  Punjabi is going to be making an appearance so let us hope he doesn't do a Denman and unseat the rider.

Looking back across my first month full time trading I can say that I have made really good progress. I'm not jumping around the room shouting Eureka just yet as I took my big loss last Friday.  I am quite encouraged though as I felt this week was reenforcing last weeks efforts and I felt that although I have to concentrate a lot to make sure I get involved with the markets I didn't feel like everything was running away from me.  I have this week managed to tally up my first full week of profit as well which I have been wanting to achieve from the beginning. 

The first two weeks of the month were sporadic to say the least. I was a novice and didn't know the best way to go about learning other than having a go with smaller stakes -as I still am.  What I did start to notice were trending patterns of other traders and how the money was being matched or skillfully placed to make it look like the weight of money was changing. After the first couple of weeks I started to calm down a bit and not let markets go in-play so often. I did have a couple this week that went in play but I had said take the starting price and more often than not this gave me a positive result anyway.

I was also trying to test various statistical analysis patterns I had noticed but with the same account. This was a bad idea in that it skewed my trading results and I stopped this after the second week. Looking at my graph I can see that it looks pretty bad - to me though this shows an improvement.  If I look at weeks 3 and 4 they are closely correlated but I did take a disproportionate hit. It is exactly these losses that I need to understand how frequently they come about before increasing my stakes.  Bring on March and the bigger festivals!