Not sure why, but trading has always been shrouded in mystery to me. To be honest with you, I have not ever understood it. I've heard of people generating a decent income stream from BetFair and I've read blogs written by people who trade, but I've never really got a handle on it, nor on what traders actually do. As far as getting involved in trading myself is concerned, I have never been beyond the very first hurdle - having any idea whatsoever how or where to start. Until now.
Why bother with trading though? Following a portfolio of tipping services is time consuming enough, hard work, and takes much of my spare time. Trading is simply going to claim a significant chunk of what little time I have left to myself. But, I happen to think making the effort is worth it. Firstly, because I'm a bloody-minded arse at times who feels challenged by learning something completely new. And second, I realise that if I can make it work, then it can open up more options in the future. In terms of how long it will take before I know what I'm doing...I've absolutely no idea. A year before being half competent perhaps? I just don't know.
Getting over that initial hurdle has proven to be a real challenge. The tact I've taken is to choose two sports - football and tennis - and be led by those that know an awful lot more than I do. If I can pick up strategies and ideas along the way, then that's all well and good. Just at present though, it's very much a case of being led by the hand through what feels like an absolute minefield. For those SBC members reading, you'll be aware of Kodagira, whose footie trades I am following closely. As for tennis, I'm following Tradeshark Tennis, spending time in their chat room during matches, reading approaches to games and generally trying to act in as sponge-like a manner as possible to absorb all the information I possibly can. I have already seen incidences where Tradeshark's experience and knowledge of the markets has been incredibly impressive and these really have made me realise just how long this journey to trading enlightenment might be. There is also another football trading service that I'm in contact with and more detail to follow there.
There are knock on effects though. With tennis, many of the games I can look at are in the evening or late at night (I can't very well get involved at the office during the day!). The late nights I struggle with, but they are a necessary evil if I'm ever to get to where I want to be. Mid-evening games though mean that the time I spend writing this blog is compromised. Last week I found it a real struggle to write a meaningful blog, watch the tennis, dip my toe into actually trading (largely unsuccessfully), record all the results from the portfolio, etc, etc. I also refuse to compromise the time I spend with the kids in the evening, although they are still at an age where they are tucked up pretty early, and I'm still playing tennis myself one or two evenings each week. What all of this means is that I am going to be able to spend less time on the blog. I will still blog each day (other than Saturdays), but more posts will be results only with just the occasional 'topic' driven post in between.
Probably save you all from my irrelevant mutterings anyway... :)
A quiet but (another) losing day. Northern Monkey's one each way selection finished in the frame and one of Winning Racing Tip's two selections did likewise. No success from The Market Examiner (0/1) or On The Nose (0/1).
Northern Monkey: Staked 1pt, +0.07pts.
On The Nose: Staked 1pt, -1pt.
The Market Examiner: Staked 1pt, -1pt.
Winning Racing Tips: Staked 1.2pts, -0.48pts.
Monday 15th August: Staked £124, -£59.40.
Month to date: Staked £2,931, +£186.04, roi 6.34%.
Running total (inc. fees): -£122.76, roi -1.2%.