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 22, 2010

More snow?!

P&L: £2.62
Average P&L: £0.37

The markets are quiet again as another Monday comes round.  I really can't believe I have been trading for 3 full weeks now. I have definitely learned a lot about how the markets move pre off and even in-play. Friday was an interesting day trading - I had everything under control and foolishly started to think that this was going to be my first full profit week. As soon as that thought hit my head I made about 10 really bad decisions which broke all my rules on the last race of the day and ended not just the day at a loss but the whole week.  With this out of my mind for the beginning of this week I started again and was being steady but not aggressive and this meant my turnover was small but as above I took a profit (although much smaller compared to many).  Today also saw another two courses cancelled due to weather.  Yesterday, everything was off; nada. Although I'm not currently trading on Sundays it does have to be factored into how viable trading is if the weather can cause whole days to be cancelled.

This weekend, one of my mates came up to look through the statistics we've been collecting and see if there are any strategies that can be used and testing a few ideas I've had. Also, whilst I've been trading I have often thought - how likely is it that x does y.  These were all things we were able to go through this weekend. In a couple of weeks I might have a bit more news about this and whether we will have additional working strategies on top of trading.  The other project I have been working on is some additional charting - I've read a lot of the blogs and forums about whether these charts will help or hinder and whether there is value in using them. The way I see it is that the more help you can get the better.  I have got a new (rather long) list of items that need to be completed but I can definitely see some use for the charts and they have helped me a lot in terms of swing trading which for me was my weakest area.

Look forward to your comments, commiseration and feedback on charts. Happy trading! :P


Fred said...

Very interesting reading Dave - keep on "wheeling" -Fred