I've sorted a graph out to show The Rise And Fall (tenuous link there with the title for the older readers....) of the X5 Horse Trading App.
To be fair, it only really started struggling when I increased the stakes probably way beyond the amounts that the early markets could handle and my trades started sticking out like sore thumbs. Since I've reeled the stakes right back in things have picked up again, a small'ish loss of -£43 on Monday but then a decent £105 profit yesterday. That's about it for that app now I think, I've done all the tinkering I can with it, it's now back to simple basics and seems to be doing well, time to leave it alone and move on to something else :o) I've finally got round to downloading all the data for the last couple of months for my horse data as well as the Betfair SP's, thats my work for tonight, time to get the automated XKR horse selection service back up and running.
The Carrera Football App is still going well. £92 profit on Monday and a small -£26 loss last night. Once again, the smaller stakes means less stress and less chance of 'market spooking'.
I had a heated debate here with some other work colleagues the other day, a lot of them are into their financial trading and the other day I threw the "dead cat bounce" saying into their conversation as a bit of a joke, they then started questioning me about me being a trader (I'd also lent one of them my Way Of The Turtle book). I then explained that I traded sports markets, "HA! you mean gambling!" was the outcry, if ever there was a head in hands moment this was it. I tried to convince them that trading sports markets and trading financial markets were really no different, we were both looking for value in our trades and looking to get in and out and the optimum times, strangely enough they couldn't see it......
There's nothing more likely to get a rise out of me than people saying "trading", or rather "financial trading" isn't gambling, and turning their noses up at sports markets.
Until your system gives you 100% success, over 1 million events, I think it's safe to call it gambling :)
Posted by: Matt | Sunday, August 15, 2010 at 10:24 AM
Head in hands oh yes lol. Financial and gambling worlds are so alike that I see little difference, they're full of similar types of people, all trying to get a slice of the action by fair means or foul.
One of them is well dressed and socially acceptable yet I believe it carries the greatest risk of massive short term loss as well as huge transaction charges.
Posted by: Fred77 | Wednesday, August 11, 2010 at 01:10 PM