First of all sorry about the lack of updates for the last six days. Truth is I've just been too busy during the days - and knackered at the end of them - to update the blog properly. With three Twenty20 matches a day and the meltdown in the banking sector I've been trading like a man possessed - while trying to fit normal work in too.
Anyway, today is a rest day so I thought I should do a catch up and also apologise for the backlog of emails I've started working my way through again too. There seems little point in going through each Twenty20 match I've traded so thought I'd just post a screen shot of results.
Quick look at that says what I've been up to really. Traded most of the Twenty20 games for at least part of the them since the last update - 13 of them anyway - and made a Match Odds profit on 12. Bit lucky really. Had a few escapes but am still looking at the loss on the Australia v Pakistan game as it's one that I called right during the early stages of the game before getting spooked towards the end and making several mistakes before settling for an all red book. The £70 loss on the New Zealand v India innings runs came from backing a price instead of laying it. (It was early and I was tired!) I immediately closed it for a loss. The other loss was from taking tie insurance on an all green book in the South Africa v England match.
Talking of ties I was also involved in the Northamptonshire v Essex Pro40 match that ended in a tie just two days after my last post about a cricket tie. Only looked in for a few overs and had around £20 each side on it before leaving it for a Twenty20 game. Didn't follow it after that and heard after it was a tie so had a quick look at the market. After the confusion concerning the previous cricket tie it's good to see there was greater clarity on the rules. As the screenshot below shows Northamptonshire, who couldn't lose, were 1.01 - as they should have been. Though I suspect the lack of confusion was because it was cricket regulars punting on a domestic game rather than the masses of people attracted to the international that was on at the same time. Either way there wasn't one thread on the Betfair cricket forum moaning about how it had been settled incorrectly. Refreshing as I'm sure we'll see them again the next time an international is tied.
Anyway, that's it for now. Hope you've all been enjoying the Twenty20 World Cup as much as I have. It's had it all. Wicket maidens, world record scores, a bowling hatrick, a 12 ball 50, 58 from 16 balls and, of course, six sixes in one over. Fantastic stuff. I'll be trading the two semi-finals on Saturday and the final on Monday so will catch up again then if not before.
4 comments:
Hey,
Excellent results in markets that I know ppl have struggled with trading profitably, What adaptations do you make when trading twenty20 as opposed to trading an ODI?
Well Done :-D
Cracking stuff, bt, how did you trade the banking sector meltdown?
Prekladatel.
Hi BFT,
Great result.And i know you will keep it up.
Cheers
Dip K
Anon> Good question and one I should really do a proper blog on. I got involved in a discussion on this on the Betfair cricket forum the other day so will repeat roughly what I said there.
Basically we all now the rule of cut losses and let wins run. Fair enough. But these games have been so volatile with many having both teams as short faves at differing points that I have been taking shorter term positions in as much as I'm taking profit when it's available. I've not been afraid to take 20 ticks when 30 might be available simply because in many circumstances prices could move 30/40 ticks+ against me in a ball or two. I've also been a lot more willing to take on the shorter prices in games where there isn't an obvious huge jolly before the off. I've literally had to make myself do it at times, generally using existing green to pay for the lay. On the whole it has paid off. The games are just so volatile it's almost as if you can back or lay just about any price and make a profit on it as long as you are prepared to take a smallish one rather than let the win run.
I've also been doing the opposite. Taking an outright position and essentially leaving that while trading other amounts as explained above separately.
So basically I've been taking long term value positions and leaving them. And shorter term positions in which I collect profit quite quickly rather than letting it run longer as I might in an ODI.
Obviously each decision is taken in the context of the match but on the whole my thinking has been along these lines. As ever it's all meant smaller wins and losses than has been possible but a consistency in results that I'm happy with.
Prek> Mainly shorting on CFDs and with some spread firms. Got stuck into Northern Rock, Alliance and Leicester and Bradford and Bingley - whoever the next rumour was about basically. Bought on some gains too but, especially with NRK, I think the writing was on the wall when the queues appeared and it was simply a case of riding the price down with as big a leveraged position as I felt comfortable with.
On the flip side I've been accumulating a gold position for a while in anticipation of difficulties in the markets.
Dip> Cheers! :-)
Post a Comment