Wednesday, January 17, 2007

Snooker trading loss

Daily Result: 93.64

Not really the kind of start I was after now I can spend a little more time trading again but I guess we can't all win all the time. Made the loss on the Hendry v Stevens match in the UK Masters. When I lived in London I used to go up to Wembley to watch the tournament - something I wouldn't have regretted doing today after booking this loss!

Won on the outright market but got in a right mess on a frame I was involved. A silly mistake early in the frame left me all red which I switched to a green / red position when the frame looked more or less done and dusted. But a kick caused a miss, market mayhem, and I ended up unable to really do anything except sit and take the loss as Hendry went on to win the frame. No point in really trying to change the position by then as the odds were so short.

The frame loss itself wasn't that bad. I had it more than covered in the outright market with a position on Hendry. And when he powered to a 5-0 lead, flattering as it was, I was looking good for an overall profit on the match.

Until, of course, Stevens made a comeback. I left my position when he won his first frame, and the second, and even his third. But when it looked like Stevens may make it 5-4 I got out just in time with Hendry around 1.2x Although Hendry won I'm pleased I did as it eventually went to 5-5, evens the pair, before Hendry wrapped it up in the last.

Fightbacks are great to watch but not so much fun when it causes the market to move against you! All Hendry had to do was win one frame out of 4 when he was 5-0 up and I'd have made a profit on the match. But as the Stevens' fightback kicked in ultimately I just had to protect what green I had on the outright market though.

All a little annoying as I know that without the loss in the frame betting earlier I would have greened out in the outright market a lot earlier when Hendry was sub 1.05. By doing this today though it would have left me with a small loss on the match overall. So I left it thinking Hendry would wrap the match up easily but was wrong and ultimately cost myself.

Still, it's not all bad news. Turns out I can't read a calendar properly and the Australia v England ODI is on Friday morning, not Saturday morning, meaning I will be able to trade it afterall. Hopefully it'll be an opportunity to reduce some of this red I've picked up so far this month!

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