Daily Result: £202.94
Well, the match so nearly panned out as I'd asked for in my ideal trading scenario! West Indies batted first like I'd hoped for, got off to an absolute flyer to tick that box - but then collapsed so spectacularly that no doubt even England players had a smile on their faces!
The start of this match between the West Indies and Australia was simply awesome. Some of the most enjoyable cricket I've watched for a long time. The Windies' openers, Gayle and Chanderpaul, simply dismantled the Aussie attack. Left it in pieces. Despatched the ball to the boundary and stood there waiting for the next. Lee saw 10 fly off the bat from his first over - and the carnage continued. As the innings progressed average runs scored per over went like this - 10, 7.5, 9.33, 8.75, 9.8, 9, 9, 8.12, 8.77 and so on. The match was set up to be a classic.
But then, as has often been the case with the Windies recently, it all went very wrong very quickly. In fact the collapse was every bit as stunning as the opening blitz as the Windies went from 49-0 to 138 all out in the 30th over. The final wicket coming courtesy of a run out during an aborted attempt at a suicidal single. Of course, with every collapse comes a resurgence from the fielding team. Probably best epitomised by the old man McGrath himself. Who having gone for 22 off his first two overs then returned figures for his next 5 overs of 2 wickets for 2 runs!
Trading wise I made was £50 green the pair within two overs, and had built it up to over £100 the pair a few overs later. But got caught with my hand in the cookie jar at the fall of the first wicket. I hung on to the losing trade for a while but as other wickets started to fall I got out and in the process wiped out most of the green before building it up again on the Aussies.
With 50 overs to chase 140 runs there was never any real doubt the Aussies would win - despite a couple of early wickets. Rain interrupted play leaving them a revised total of 116 from 35 overs which they duly knocked off with ease.
Which all left me with a nice win even if it was a shame that the final failed to live up to its billing - especially after such a blistering start from the Windies. A bit like the whole tournament really. Made a nice profit on it but many of the games were disappointing to watch. Even boring at the start because of the poor quality of the pitches. But there were some thrillers inbetween the dross and looking back it's been an interesting curtain raiser for the Cricket World Cup next year.
4 comments:
Betfair trader
Well done on yesterday (cricket).
What is most impressive about your trading is the (apparent) control of risk and the smallish but consistent nature of your profits.
Your bank 'drawdowns' are much smaller than for example mine. I have won about the same as you have over the last few months but with MUCH bigger volatilty on my bank.
Well done - onwards and upwards!
Paul Jones
('trader pj')
Cheers Paul. Often wondered how you get on. Enjoy your banter on the forum and suspected you were profitable so nice to have it confirmed. Well done and keep it up! Often get the feeling through your comments that we look to take similar positions and share some approaches. Though did notice the figures you sometimes quote are often larger than mine.
As for my control of risk. Well, it's a big part of what I do. I just have a set of rules I follow. The most I'm willing to lose on any event is £500 but in reality I tend to try to limit it to £250. Pretty straighforward really. I do this as a hobby with the simple aim of paying for my wedding / honeymoon. When I started the blog I had around 18 months to turn £1k into enough to pay for it all. So really I had plenty of time to take things slowly with a limited risk approach. Having a maximum I'm prepared to lose on an event does have the downside of meaning I can't always make as much as I could have on winning markets. (And I often mention this in posts) But it also means I can't lose the plot one day and lose a large part of any profit to date. So really my risk attitude is just coloured by my current situation. When the wedding is paid for (fingers crossed) I may well change some of the trading rules I follow. In the meantime I just want to bank money steadily so small consistent wins is fine for the time being. I'm amazed at how quickly they all add up. :-)
There is a quote in the book 'Market Wizards' (have you read it?!) which I really like. One of the traders says:
"These small $500 add up".
I am trying to limit my downside risk these days, although I still don't specify a maximum loss as such.
A couple of months back it went crazy. On the same night that my mother in law stayed I managed to do in £1,800 on a Monday night football match! - three weeks profits up in smoke - there was something 'psychological' going on there!!
Hi - no I haven't read Market Wizards. Just had a look at some reviews though and it looks interesting so thanks for the tip. Think I might add it to my Christmas list!
As for your Mother in Law that's more than a little disconcerting! Hope my one to be doesn't have that effect!!
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