Wednesday, August 09, 2006

Pro 40 cricket trading loss

Daily Result: £403.24

Kent! Why is it always Kent?! After beating Leicestershire today the Spitfires are now the biggest cause of my losses on the blog. (see 1, 2)They take the dubious title from Mr Thomas Bjorkman, whose also helped me rack up reds on more than one occasion.

Of course, any losses are always my fault. I'm the one contolling the software and making the trades so there's no point in pretending otherwise. Though today I'd like to think the Gods of Amateur Umpiring and Ensuring Everything Doesn't Crash at Crucial Moments did at least help to conspire against me! (Has anyone else been caught out by these API problems since the upgrade?)


As for the size of the loss. Well, it's a big loss after a big win. It's under the maximum size loss I allow myself but still bigger than usual £250 I usually try to limit myself to. Ultimately it is that size it is because by the time I'd belatedly realised my postion was becoming unrecoverable I thought the price being offered was poor value and wouldn't have saved me a significant amount. Which left me with the classic trader's dilemna of whether to bail. Regular readers know I usually do. This time, with a combination of what I thought was a poor price, and a belief that the game's momentum would at least turn in my favour at some point - and with it the market - I let it run longer.

Unfortunately I completely misread the match and the price slipped away. And, just to add insult to injury, I added another £40 red laying at 1.0x near the end when Leicestershire started keeping up with an improbable 8.5 runs an over rate for a few overs.

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