Monthly Result: £1359.32
Not able to trade today so thought I'd do the monthly round up for October. Pretty good month really and the profit keeps the wedding funds ticking over nicely. I know the profit is small fry compared to many on Betfair but I don't claim to be some kind of mega trader. I trade part-time to try and cover my wedding costs, am pretty risk adverse in my methods, operate from a relatively small set bank, run my own betting related business and write on a freelance basis to provide my proper income.
Anyway, back to October's results. I got involved in 61 markets during the month, won on 45 and lost on 16. That's a far higher loss rate than usual but is accounted for by the fact that I traded several cricket matches that were either close or weather effected. Which meant I was having to take out insurance bets on minor markets that were unlikely to win but protected my green on the outright match odds markets.
Biggest win of the month was £213.86 in an ICC Champions Trophy match between New Zealand and Pakistan. Biggest loss was £184.28 in a match between Bangladesh and Zimbabwe in the same tournament.
Among the topics I rabbited on about were the value of a stop loss, and how the poor standard of some of the pitches in the Champions Trophy was enabling potentially big wins. I also had a pop at the Free Money merchants on Betfair and offered a trading tip that can be used in the future to make a potential risk-free return.
Trading wise New Zealand showed the value of a team that pulls together over teams of star individuals. But the events of the month came courtesy of the West Indies who not only managed to get bowled out for 80 by Sri Lanka but also beat Australia and India! I've mentioned several times this month how it can be costly to underestimate the Windies in ODIs and it's perfectly possible that they'll double up their win over Australia in Sunday's final.
One thing for sure is we won't be seeing the Aussies at 1.23 before a ball is bowled this time!
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