Yesterday's Result: £353.66
Really not too much to say about this one. It was the 3rd ODI in the series but given the planned Betfair downtime during the match I didn't bother getting up early for it and just got on with some normal work. Consequently I didn't really have a chance to tune in until Pakistan were well into their successful run chase.
When I did the Pakistan price at 1.3x just seemed too big. South Africa had obvioulsy found batting on the track tough though so I watched a little, read about the game and then decided to back them. I got in and out a couple of times and the price did move against me once or twice on the fall of wickets but never by very much and certainly not enough to make me take a loss on any position.
While they didn't make quick work of chasing the 198 victory target the required run rate was always in hand and Pakistan eventually won by 6 wickets with nearly 2 overs to spare.
So that was that really. Not the most interesting of games to trade. Or at least the part of it I saw. But that doesn't matter. The bottom line isn't about how interesting a game is and I like being involved in matches that pan out pretty straightforward like this one did.
6 comments:
Hi mate and well done on the success again. On a game like the one you talk about today did you basically end up with a back on Pakistan - I assume you did not green up across all the selections?
Hello and well doen for you winnings!
Can you please explain to us the way you play so we can adpt it to?
I see that you are constanlty winning but i dont see anywhere how you play!
Haha Nikos, I used to ask questions like that and now that I know more myself I know why people are reluctant to pass on that information, no shortcuts to be found, if you put the time in then you'll improve :-)
Hi BFT,
I've followed your blog for a few months, and have really enjoyed it. I'm doing something similar myself, trying to trade the cricket to fund a film I'm trying to make. At the moment trading £2 at a time to get my sense of the ebb and flow of the markets right.
It's early days yet, but if you fancy taking a look it's at http://bettingonthemovies.blogspot.com/
All the best, and good luck as you continue trading,
MM
so that mean noone will explain to me how this trading works and where to pay attention?
anon> You are correct. Even despite my recent big loss. However, I did have a very clear bail point in mind if the market moved against me. And given the size of my involvement in the market I had no real concerns about whether the liquidity would be there.
MM> Love that idea for a blog! Good luck with it (that's a big goal!). Yes I'll link to your blog and look forward to following your progress.
Nikos gr> I'm sorry for not answering your question earlier. As you can see from the blog though I didn't answer anyone else's either as I have been in ill and in bed. Once up I had some more pressing matters to take care of.
As for explaining what I do. I get dozens of emails a week which are precisely one line long and say "tell me how you make money. please." I've started not replying to these or sending a standard email simply because I don't have the time to. Though I am, and always will be, happy to discuss ideas and questions from people who raise specific points / ideas / theories.
Your question is next to impossible to answer as you tell me so little. I don't even know if you understand the basics of trading? I assume you do. But I don't know. So where would I start to try and answer it?
As for the way I play. I do try and explain what I've done in each market in the blog entries. I'm sure there are hundreds of small pieces of information that would be useful in the various things I've written. In the past I have also outlined some specific basic trading strategies for different sports. You should be able to find these by using the search function on the blog.
I'm sorry but even if I was of a mind to it is not easy to summarise several years of trading experience into a few paragraphs so other people can win.
That said I am working on some layout changes to the blog. One of the new features will be an area which collects together what I consider some key bits of trading advice. Maybe this will be of some use.
In the meantime I would say some basic key areas to concentrate on are choose a sport or two to concentrate on, discipline, bankroll management and learning the behaviour of markets.
By that I mean *really* understanding why they move like they do when they do. Understand that and you can start predicting where the markets will move. And will also start spotting the in running value. Get that, combined with a strict money management policy - which includes stop losses - and it's only a small jump to relatively consistent profits. Best of luck with your trading.
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