June 2006 trading round up

Monthly Result for June: £2243.03

Another good month's result really. Beat May's total comfortably and it added to the wedding funds nicely. So pretty chuffed with how things have gone. And it's nice to know people are reading the blog and wishing me luck with the challenge through the comments being left and the emails I'm receiving.

As I said in the what's it all about section the wedding is in August 2007 so if I carry on at this rate I'll more than cover the costs. Long way to go yet though and losses keep reminding me that this isn't like picking money off the floor. Falling into the trap of thinking it's easy can be expensive and I've certainly made some pretty stupid mistakes this month!

Anyway, some key figures for the month:

Biggest win was netting £448.74 on a Rusedski v Dupius game. Biggest loss was getting smashed for £242.19 on a Dancevic v Roddick game.

Biggest winning day was spent trading a ODI between England and Sri Lanka. Made £401.04. Worst losing day was £210.07 and involved the Roddick game already mentioned.

I've tried to answer all the questions I get asked so have chatted about the one click trading software I use through the Betfair API (There's a free trial at the moment if anyone is interested) and have also discussed my bank and money management.

Obviously I'm pleased with the month's profit. I know it's small fry to many on Betfair but I'd don't claim to be a pro, do this part-time and never have more than 1k in my Betfair account at the start of each day.

I haven't been so pleased with my consistency this month though. In total I traded 56 events (not all the way through - some I only dipped into for a minute or two). However, of the 56, I lost on 8 which is more than I would expect and is certainly worse than the 3 I lost on last month out of 44. I had a losing start to the month, and then went through a pretty bad patch mid month too.

However, it's these bad results which led to the thing I'm most pleased about this month. I knew the results were less consistent so spent some time analysing the losses. OK, you can't win all the time but I did find a common element in some of the losses and noticed I'd started making a pretty basic error without realising. The leak had cost me around £400-£500 and I discussed finding it and how I was going to put it right this post about learning from trading mistakes.

Anyway, obviously I can't be anything but very pleased with the month's profit and am hoping I can continue the good run into July. That said, I'm taking a break this afternoon. Off out to the pub to watch the England game. C'mon!!!