Thursday, 14 June 2007

Thursday trading - still being silly but getting lucky

I got to do some Bet Fair trading today. I also got to make a couple of stupid mistakes, but get lucky.

Overall, I managed to get more used to Bet IE and the features it offers. I have found a way to work that I like right now. I have Bet Fair Direct open on my left hand screen, Bet IE on the right and a graph from Bet Fair on the left too. I use the graph to give me an indication of the overall trend and then use the weight of money momentum indication in Bet IE to help predict where it is going to swing but being aware of the overall general trend. It seemed to work pretty well and I managed to green up a few times, although I wasn't walking away with a fortune (a couple of quid or so).

On to my mistake. The count down timer to the event start time in Bet IE had run down to 0 but bets were still being taken. I continued watching the market and forgot that trading could close any second. I put on a back order using the auto offset feature of Bet IE. One of the trades got matched but the price had moved and the other was unmatched. I stared at it for a couple of seconds and looked at the current price and before I could do anything the betting was suspended. I was stuck with a lone back bet for £15. Not a lot you may say, but with a bank of les than £100, it was a fair proportion. Now, I got lucky, the horse won and my back is back up to £75, but it could have just as easily left me around £30. I'm not here to gamble, but I ended up doing just that.

No comments: