Cricket trading loss

Daily Result: £305.19

Although I've dated it for Thursday I'm writing the entry Friday afternoon but as the loss was for yesterday thought I'd keep everything in order for the records. Ended up going out with my Best Man and some friends for quiet drink last night that turned into a late one and I'm a little delicate today. An insight into what's to come i guess!

Had a total nightmare on the Pakistan v West Indies 2nd ODI. I just got it plain wrong. I fancied the Windies, and although they nearly pulled off an unlikely win, as far as the market was concerned they were never really in it.

Felt like a bit of a mug. Up at 5.45 to watch the game and within a couple of minutes of it starting I was never in a position to make a profit on the match. Pakistan won the toss and elected to field. I waited for their price to drop and when I thought it had bottomed out I laid them. Popped off to make some tea before the game started, came back and a wicket was already down. With it came a big market reaction (1.6x to low 1.4x). And then, as I sat there contemplating taking an early all red position, another wicket fell. Normally I wouldn't hesitate on the decision but liquidity was pretty thin (guess people have better things to do at that time in the morning - like sleep!) and I just didn't want to take the poor prices on offer.

So I was in a hole I'd dug for myself before I started really. Really should have given Pakistan more credit for choosing to field and waited to watch a few overs as I usually do. Early starts never have been my thing though. Anyway, the Windies proceeded at snail pace before making 151 in their innings - the lowest ever ODI score at Faisalabad. As a result the price, which had settled at around 1.2 after the 3rd wicket didn't really move much for the rest of the innings. So I was left in my hole and getting on with other stuff with it on in the background.

Pakistan so nearly messed the chase up before scraping home. I'd been tempted to buy my way out of trouble by using some funds from my Australian wallet. I fancied them to make the chase. Sense prevailed anyway and I just accepted the loss and stuck to my money management rules. Still, my red was very much bigger on the Windies than Pakistan so I had to watch the game and shepherd the red home as it were as depiste the low total I didn't trust Pakistan to make it. So I ended up keeping the match on in the background and managed to add a little red in trying to reduce it. (Some days you should just leave it!!)

Despite the slow scoring and low totals the match was actually pretty good. Pretty tense and tight at the end. Prefer run fests though. Especially from a trading perspective.

Didn't get a chance to look in on the second day of the New Zealand v Sri Lanka test as was obvioulsy out for the night. Won't be able to Friday night either as am off out for dinner with Emma to one of our favourite restaurants. Probably get to take a look over the weekend though - and am aiming to do the 3rd Pakistan v West Indies ODI on Sunday too.

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