Mark's trading

I'm looking for person who...

2011-10-07T03:18:00.000-07:00

Hello everybody,
thanks for all the comments and emails I've received recently. I didn't get a chance to answer all of them, but I will so in near future.
The my idea about the videos seems ok for some people and some people find it useless. I don't know...I need to think about it more.

The main summer season for horse racing has already ended and that makes me thinking I should start to look for other sports for trading. No, I don't leave horses, but I think a trader should be able to trade more than one kind of sport. I tried trading tennis years ago, but didn't succeed too much :/

So now I am looking for a person who trades any other sport e.g. tennis, cricket, NFL, (excluding soccer) professionally. The person should be full-time trader. If you are reading this, just get in touch (simply drop me an email) and we can teach each other. We will change IMs so you can chat with me during my horse racing trading, I will try to explain you my thoughts in real time. On the other hand, you should teach me how to trade your sport. Deal?

Thanks,
Mark

I am back + trading videos explained + an idea

2011-07-18T02:45:00.000-07:00

Hi everyone

firstly, sorry for the lack of my posts recently. I am busy these days and I cant trade as many times per week as I used to do because I am starting my own business with my brother. I think I will not be able to trade all my life, so building something real, something profitable and stable is what I need and want right now.

With regards to my trading, yesterday was ok, very easy to read, I think I had only one or two losing races. But at the end, the last hour or so I had to end my trading because of headache :(.

Friday and Saturday as I can remember now, wasn't so good for trading. I ended only a few Euros in profit, the markets were extremely manipulated and due to this fact very strange. I remember one race (I think it was Friday) everytime when I had entered the market the trend turned against me and everytime I made a loss in this race. And this is one of the reasons why I am starting a completely new business (miles away from trading) where I can (hopefully) make only profit and no more losses.

As you have probably noticed on my blog, I wanted to know how many traders are out there willing to view what I am doing at the markets. To be honest, I didn't expect so many persons who entered they email addresses on my blog. That makes me thinking that I simple can not upload somewhere my trading pattern. I have my advantage because I am thinking differently. I don't follow the crowd. Crowd can't make money, otherwise everybody might be profitable, but they are not. And here is my advantage, where other traders make mistakes. Hope that makes a sense and you understand my position.

However, I don't want to disappoint my readers. I was thinking to make something like a "Video tutoring centre". People can post their trading videos and other readers/bloggers/traders (including me from time to time) can post their advices to the submitter in the comments below the video. The question is: how much can this help? It's just an idea.

Feel free to let me know your opinion about this in comments below or by email.

After Cheltenham and trading videos

2011-03-21T13:31:00.000-07:00

----Cheltenham----
Hope everyone enjoyed this festival. It brought more money than I actually was thinking, especially in Cheltenham market, the huge amounts of money offered to us almost perfect situations for scalping for 1 or 2 ticks with big money. In the other markets I was usually looking for bigger swings than normal and they happened from time to time. And my profits?: +2289€ for 4 days (I didn't trade on weekend). Yeah, it was great. I really enjoyed it.

---Trading videos---
I was chatting with some traders during last week and there are some really nice guys. I've decided to make some videos (3-5) showing me trading. Depending on demand for my videos I will upload it somewhere and I will send the link to all of my subscribers. So if you are interested in, submit your email address in right sidebar. >>>>

Mark

Expectations

2011-03-14T15:58:00.000-07:00

Hi everybody, just a few minutes to Tuesday 14th March and the day who everyone trader expects is definitely here.

I must admit, I have big expectations from Cheltenham this year. It is caused by these reasons:

20 March 1941

1. This year it will be my first year of full-time trading as I am fulltime trader from June last year.

2. This year is 100 Years of Cheltenham, so it is reason for more liquidity, more money, more moves and more profit :)

3. Cant wait to make some money. So excited!

But who knows? Maybe I will end wit a super big loss like last year :(. It is all about your emotion in these days and more than important is a good start. So I wish everyone good luck tomorrow.

See you on BF markets. Hope BF will be stable. I pray for it :)

Mark

What I've learned part2

2011-02-13T09:10:00.000-08:00

Many times I used to think negative thoughts like I will never be a successful full-time trader. Especially when I read others traders blogs, for example Adam Heathcote blog was very popular in that time when I was starting. He was regularly writing something about instinct you have to use during trading. Okay, so, hmm, instinct is something you were born with and if you were not, you cant develop this instinct to yourself.
Nowadays, I use this word, too. Because it is probably the best word to answer question: why are you successful? So remember, this kind of instinct you can gain.

You have to be willing to change your mind. Even change your long term view of the market. The best way to do that is reanalysing market all the time while you are trading and keep yourself open to more than one scenario. I am always talking to myself during trading about what I see. It is little bit strange but it helps. Just cant stop asking and answering questions like: Why am entering the market? How long I am willing to wait? What if the entry signal changes quickly? Where is my profit target/stop loss? I am asking and answering these questions and re-analysing market over and over again during all 10mins.

Learning process consumes a lot of time. I was lucky enough, that I had a second income so my profits/loss in Betfair was not so important. During learning you should be focused on what you have learnt at the end of each day. I used to record my trading, then analyse them and write down what I have learnt. I was noticing something like this: oops, I didn't notice the big traded money there, didn't notice movement on fourth horse, I didn't get the right long term tendency, oops here I was too greedy and irrational or this was too naive... I highly recommend you do the same.

And finally, always set a goal. But only a goal you know you can reach. I said to myself, okay, I need to have only 25€ profit on each race and I am making 500€ a day. That's why you can see so many races with profit around 25€ in my last screenshot of trading with profit more than 500€/day.

What I've learned part1

2011-02-07T08:15:00.000-08:00

It's been years since I used Betfair for the very first time. I started as a bonus hunter and via turnover and fulfilling the T&C with regular surebets I cumulated quite good capital. Later I didn't have any available bonuses so I started thinking how I could use my capital to earn something. I started doing surebets professionally, but it's not so easy as you probably think. The low bookmakers limit per stakes, the waiting for withdrawal and depositing into the next bookie and the low % of surebets, it all makes you bored and you end with low profit at the end.

Then I visited a website about horse trading on Betfair. I cant remember the name, but I think this was the first time I heard about it. There were some videos and articles and I started be very interested in it.
So I deposited 100€ and my stakes were 2€.

For first 5 months I used only 2€-10€ stakes. I traded almost every day and almost every day I was in loss! This time is very important because most of traders give up it after 4-6 months. Trading takes time. You must get the feeling, instinct, for almost every kind of race/move. If you trade one year or even more and almost every day you are in lost, I wouldn't recommend do it anymore. Look for another ways to make money. However, everyone is different, has unique way of thinking, analysing, summarizing...so its up to you. I wouldn't continue.

Luckily after 6 months I realised this has no meaning for me and I said: "I must change something." and I wrote down something like this:
- I want to get a feeling for every market - it means that my entry points were in 3-2 minutes to go.
- never use double-click. - this is because I used small stakes and it is very stupid to end up with bigger loss than your stake is at the end of the day. But nowadays I regularly use double click with no problems, its is important in your learning process only.
- trade only races with max 4 most traded runners - the more horses and the more similar to each other they are the most difficult it is to scan all these horses and all the moves.
- consider opening position on another horse in order to balance the loss from another one.
- never rely on luck/never go in play - this is very important and so common problem. It took me months to understand it. (I've written about it an article Hope is your enemy, it still happens me from time to time.)

Most of these rules I don't use now, but they were useful in my learning process and I was able to move forward.
Okay, that's all for now I will continue in my next post.

From dream to reality

2011-02-02T13:38:00.000-08:00

Okay guys I am more than happy to inform you that today is the Day when I have finally reached my target magic level - 500€/day.
It doesn't mean I am making 500+ every day since now, but when I first started with trading I didn't think that this is possible. And now I am feeling good, satisfied with myself.

It makes me thinking about my long journey since very first touch with the Betfair and I think I could share my thoughts with you in next couple of posts. I will write something about it, I will advise you how and what you should be thinking during trading, what to do when things go wrong and what do you need to become more confident in markets. So keep an eye on my blog.

2 Feb

So far so good this year

2011-01-29T03:16:00.000-08:00

Hello everyone,
it's been a while since my last post. I had one month pause with trading, to be exact from middle of December to middle of January. I was just relaxing and enjoying my life.

Anyway, I've been trading this week and I am more than happy with my results. I think the pause helped me and I am more confident in the markets. I have also analysed some situations which made me problems. And I think every time after hard job you have done, the good results come.
The attached screen is from the best day of this week - Thursday. It's seems that I could reach my target (€500/day) next week.

27 Jan

Is Betfair fair?

2010-12-20T09:29:00.000-08:00

No, I don't want to discuss about Betfair as a exchange company and its monopoly in the business. I've got couple of emails lately from people who actually do trading for a longer time (months) and still are unable to make a constantly profit from it.

Trading betfair horses is very tricky in meaning that you can be in 80% of predictions right, but you didn't get matched and you miss the opportunity to earn money. Although you were right you made no profit. On the other hand, in 20% when your predictions are wrong, you will get matched surely and you lost your money. Therefore, no surprise when you are at the end of the day in red numbers. How to prevent from this kind of situation?

Firstly; you cant be greedy. When you expect a big swing you should put your money at the best available odds ASAP to get matched immediately. Don't wait to be matched, you will miss the opportunity because most of traders jump in front of you as they are probably not so greedy as you.

Secondly; if you get matched and you are still in open position expecting long swing, try to exit from it laying/backing different odds during the swing. Don't put all backed or layed money on one odd when you think the price should go, the movement wont be probably as strong as you think and you don't exit right.

And the last one; when you are wrong, even only in 20% of your entry positions, your losses can be turn into a big ones very quickly and you will end with loss, bad feeling, less confidence and so on....in the end. So cut your losses quickly. I usually allow 2-4 ticks against me, depending on market.
-----

It seems I can't fulfil my target (profit 500€/day) at the end of this year, because of the lack of horses races. I extend the period till the 15th Feb.

Good luck
Mark

Clean sheet

2010-12-13T05:47:00.000-08:00

Finally I traded some races on Saturday. It was very good day, without any loss race, but I must admit I traded only first 10 races. Trading was quite easy (ideal for beginners), however I hardly took a profit from race: Horse Racing / Sthl 11th Dec : 1m Sell Stks, I went in-play and took a risk to stay in green numbers. Luck on my side and I've got my first clean sheet.

13 Dec

The lack of trading

2010-12-06T07:15:00.000-08:00

Due to the bad weather I didn't trade anything last days. Hope it will be better at the end of this week. You can check weather prospects table here. Maybe on Thursday I will sit down for the markets or on Friday.

However, this gives me time to buy some Christmas presents, enjoy the winter, try skiing and so on..If you have family take the kids out and play for a while. Winter is not so bad!

Mark

Hope is your enemy

2010-11-26T14:54:00.000-08:00

Everyone knows it, for sure. You back/lay a horse, it turns against you and then you can watch yourself hoping that the odd come back.

This happened to me in Horse Racing / Taun 25th Nov : 2m7f Hcap Chs - 16:30 race. It was very unusual race from my point of view. Moreover, I made a small loss on market before this one, so I wanted to get the money back quickly. 8 minutes before the start I was thinking that second fav will go down or will be quite stable at 4.00 and 1st fav will raise. So I made a lay bet on the 1st fav. Ooops, that was big mistake. I realized it too late. I was still thinking that my sense of prediction was right. Then I backed it at 3.15 (later it came to 2.90) and I just cut my loss till the end. Then I realized that big money were matched on this market. Very unusual market with many big swings. Probably many traders win big money or loss big money.

If everyone can remember this race, write your opinion in comments. It would be nice, if we could put and discuss our thoughts about trading in comments from time to time.

Anyway, it was a good day and I think I will be relaxing this weekend.

25 Nov

Monday

2010-11-23T02:47:00.000-08:00

Yesterday was Monday - the first day with higher stakes and at the end of trading I was disappointed. That's why I write this post today on Tuesday.

I started carefully then as I gain more confidence my profits raised. Unfortunately the carefulness costs me lot of energy and that is probably the reason I lost 86€ in last 4 races. It could be very good day, but it wasn't. I have to analyse the mistakes, but I am quite sure that I was just tired at the end. I need rest, no trade, just relaxing and gaining new energy.

My first public target: earnings 500€ per day at the end of this year.

I saw today that it could be done quite easily but I have to be FULLY focused on what I am doing.

"Hard work has made it easy. That is my secret. That is why I win." Nadia Comaneci.

This quote perfectly suits on trading. When you are trading, you must notice many things;

WOM
Graphs
Matched/unmatched money on each odd
Others runners
Money traded on each horse
Total money traded
Time...

When you can notice all these factors, and analyse them correctly the work is then very easy and the market is yours! You will win! Easy!

22 Nov - higher stakes

Mark

Quiet, easy and profitable weekend

2010-11-21T09:09:00.000-08:00

Just a quick post showing my results during weekend. I don't like trading during weekend, there is less money in the markets, especially on the evening markets, but they are easy to read and predict.

I'm looking forward to tomorrow as I'm going to rise my stake (hopefully profit too). I don't know if I will trade from 1st race of the day because of some duty I have to do tomorrow, but I will trade evening races for sure.

20 Nov

21 Nov

A good day after sickness

2010-11-18T09:13:00.000-08:00

I traded a few races today, not all but I had to do something because of the loss from yesterday :).

Today was easy and I feel much better as well. I mean I am totally fit now.

Since I am trader on Betfair I still use stake (no book profit or liability or tick profit or something like that) I think that using stakes is the fastest way to get your bet matched. I can see a little delay when I have set tick profit; my computer was calculating too long and I need every second.
I intend to rise my stake from Monday.
It remains me my beginnings, when I start from €2 stake and week after week I rise my stake like this: 5€ 10€ 25€ 50€ 75€ 100€... After a successful week with particular stake I rise it on next Monday. It was pretty stressful every Monday for me when I could see the difference in profits/loss and usually Monday used to be my worst day. Now I know it wasn't the best solution in developing my trading, because of the scare of big loses with bigger stakes.

If you are beginner I would advice you to rise your stake after every successful day you have traded. For example: If you trade with 10€ stakes and you are in profit today, rise your stake to 11€ for tomorrow. If you are in profit, then 12€ day after tomorrow, and so on. If you have a bad day don't rise anything, next day trade with the same amount stake. Rise it only when you are in confidence (profit) with what you are doing.

Hope you find it helpful.

Mark

18 Nov

well...it seems I am still sick

2010-11-17T13:51:00.000-08:00

The illness affected my today's trading. I lost 74€ in 3 races. Then I realised I should quit for today and go back to my bed.

My last losing day was on September, but today's lost remains me my beginnings. Fortunately one loss per couple of months cant broke my confidence, but I remember when I start trading, that every losing day was terrible. It is very important to take something from this days, I remember I recorded my trades and then analyse them sec by sec. This helps you when you are novice, because when you actually trade and you are in open position, especially in losing open position, you can find yourself how you hypnotize the odds to go your way. You don't look at the market as you should at the moment. You cant see the opportunities, when you are focusing only on your unmatched money there.

Tomorrow I am not going to trade.

17 Nov

Sickness

2010-11-16T04:45:00.000-08:00

I am sick :(.
Haven't trade any races last days. Hopefully tomorrow I will be able to trade.

Let's start!

2010-11-09T13:32:00.000-08:00

Hi everyone,
I'm back with a new post. It seems, that blogging is what I wanted and what I was looking for lately. It provides me a back controlling of my results, now when my P&L statements are for public I feel I should be more responsible in what I am doing.

I was highly making effort on my good final result today. I wanted to have a good P&L start for blogging. I only traded 18 of 20 markets today, however I am glad that I could keep my mind fresh and my hand fast. On the other hand it costs a lot of energy, so thats why I didn't trade the last 2 races.

9 Nov

The very first post :)

2010-11-08T13:28:00.000-08:00

Hello everyone,

today is the day when I am finally starting my blog about Betfair horse trading. I trade only pre-race UK horses (rarely IRE or AUS) on Betfair.

I learnt trading by myself, just sitting and watching the numbers :). It took about 2 years and now I am full-time trader. I'm really happy that I am self-employed. My working time is flexible, however I trade almost every day. You know, it's like an addiction. When you try, you want to try once more, you want to be better and better. Obviously, I want to improve myself, I can see and feel that the space for development is still there.

Please do not hesitate to contact me about everything; it's interesting to share knowledges about trading and different views of the market.

I have uploaded my yesterday P&L (a better than average day); today I didn't trade (I was setting this blog :) so hope you like it.

Thanks for reading.

7 Nov