Long term profit – marathon versus sprint

As stated many times, trading is a marathon, not a sprint. Many people thinks that being a trader means that your involved in the market all the time making hundres of trades each day. That might be true for some tennis scalpers, but surely not for me. Since my last update i have traded only 30 matches, and as the graph shows, the profit is coming in nicely. Earlier I have been struggling a lot with cherry-picking entries, and i have now solved that problem. Then i worked on staking correct, ALL the time – and im not there yet, but surely getting better. Really happy with the way things works out at the moment, as my style of trading makes it easier for me not to be at the computer all the time. In the morning i go through the card for the day, picks my “money-makers”, and try to leave the rest to itself.

Take care.

Great week

The week that just ended was awesome. I made profit on EVERY single match i traded. I know i cant expect that for every week, but gotta be happy when it happens. The week before that, i only traded 3 matches (which is seen on the graph, all 3 matches was losers), so happy to get so many matches under the belt.

The numbers at the bottom is number of matches traded since 1. february (missed the january because of the new gambling law in DK)

GL

T

Steady ship

Its funny, the more “i get it”, the less i feel the need to trade. Only a few month ago, I felt like i needed to trade all matches – a combination of eagerness to learn, and fear of missing opps.

As the profit has grown and my ability to pick the right matches has increased, I have also changed in the way I approach the matches and the trading scenario. Stephen Maher over at the “gamblers fall” blog explains that he is not even at the PC when there is nothing of interest on. I have tried to submit to that method, and using the “off-trading” time on my real job, family etc. It has changed my trading in that way, that im more focussed when trading, I dont trade for the sake of trading, and i have more confidence in my entries now.

At the end of each week, i send my PL from Betfair to PDK, and we go over it and looks for ways to improve it.

So far this year, i have traded 54 matches (i have been missing a lot lately due to holiday and work). Here is a nice graph of the profit chart.

No updates

Things are going along nicely. If the last 14 days represents how this year is going to be, i have nothing to complain about. Also, i really dont feel like posting here, as i surely cant give my edge away, and i dont want to be another “wave my manhood” blog, claiming this and that – like most other blogs.

However, bank is up 100% since mid december, which im very happy with, being that i did not get to trade most of AO, so kind of doubled it on Darts and 3 weeks of tennis. Staking only 15%, i think thats ok to be proud of.

Frankly, been a bit tired of the whole blogosphere of trading – knowing that most traders are better bloggers than traders, its hard to trust most of what you read. People are not who you think they are, chancing there names, and stealing strats of other people – its a tuff business. Also, some of the big full-time traders, might not be fulltime at all, or making their money from other things, etc. I dont feel like being a part of that game og blogosphere – im trading because its fun!

Im still in the chatroom of PDK, which is also ticking away nicely. We even had a new danish member, whom i try to help.

So, dont be surprised if i dont update this blog, and u can wonder if i have gone to bustoville, or if i am about to make it:-)

Take care.

Profits

January was very thin on the trading side, but still managed to add 10% to the bank – using and average of 5% for stakes. That does not sound like much, but given that my main trading object, tennis, has been untradeable due to the new gambling law, i think its ok. Overall, i only traded 10 matches in january, some from which i took some beating due to the thin markets on Betdaq.

On and upwards

T

Tennis soon

Have tried to trade off The Geeks Toy for Betdaq, but the liq been very poor. However, in the last few days, when there is not that many matches on, i have managed to get some nice swings even on Betdaq. The Berdych-Nadal match suited my style well, and gave some good opps, from which a least one converted nicely.

However, i really look forward for next week, when i can once again use Betfair and we have several tournies running in Europe. I will keep and eye on Betdaq tho, since it might be worth trading some of the later matches on that exchange, which will lower the chance of PC (despite im not even close).

I have not looked at my PL all month, but been focussing on the trading – which has been mostly darts and a little tennis. But at the end of this month i will write a little summary, to see how it has been. I might not know the result, but i know i have nothing to fear;-)

Best regards

Tytte

Nothing to report

The Danish Betfair commander in chief, is not very optimistic about the danish access to the australian wallet being opened in time for AO – thats really a shame. I find it hard to understand that it should be a problem. Betfair has bought a license for operating in Denmark, and all other bookies are offering bets on the Australian markets. But what do I know?

Have been trying to trade off Betdaq, but there is no money on it, which must mean that not many people (big guns) want to go for Betdaq, or that not that many traders really see the PC as a serious problem (despite that PC is the new black on the trading blogs (before that, is was the therm “value”)

I have been trading the BDO darts the last few days, and its also going well. Its a bit harder to trade, as the quality of the players is really bad. I think the best way to trade the darts (like in tennis, mostly), is to let the good spots run for longer. I often read that people say “my maximum loss is X%, then i quit” or “Im looking for X ticks, then im happy”. Thats a big mistake, as the entries and exits should be defined by the situation in the sports, not in the markets. Lets say you lay a dart player just before a difficult out. He misses, and the other player finishes the leg. Your exit should be clear before your entry, in this case it could be after the other player gets the leg, or maybe hang on to it for the set or match. You just have to define it BEFORE the entry.

I hope that BF opens the Australian markets before AO, or that the liq picks up on Betdaq (which i dont think).

Happy trading

T