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
Mar 9, 2010

Tough Tuesday

P&L: £27.40
Average P&L: £1.71

I'm not going to continue with the alliteration in titles! However, today was particularly tough. I found this last Tuesday as well and am hoping it isn't going to be a continuing pattern.  I have stuck with my slightly larger stakes of £2 a tick. When the markets were behaving themselves this felt completely natural to be trading with this size of bank. For the majority of the day the prices went absolutely awol. I have been trying to think what could have caused such massive drifts but they were happening well before horses were on course and even when markets had fairly good liquidity the volatility was extremely high.  This behaviour caught me out on the first race again like yesterday but I managed the position much better being slightly more aware that this could happen and closed out with a -£5.30 loss. The rest of the races I was focussed and ready for any strangeness the markets might have and finished the rest without a loss. This does take my profit and loss for the week into positive which I am very happy with.  Will have to keep the momentum up for the rest of the week.

For the traders out there, if anyone else thought this was particularly volatile today then let me know your thoughts. I always like to try and work out why something is happening in the markets - this gives me a much better idea on how to play them.  I am for the time being going to put it down to just one of those days but will be keeping an eye out for future movements.