To Hell and Back

Today's tick size ranged from £1.10 to £2.50.

Phew!

I think I need to lay down. There were some absolutely outrageous things going on tonight and I think my heart did actually stop for 10 seconds or so when I saw my horse drift from 5.00 to 9.00 in about 8 seconds!!

By the time I managed to close my position I was massively out of the money - but I did the right thing as it kept going further and further out - to the point I thought of jumping on the bandwagon. I've read that jumping on swings mid trade is not usually a good idea, so I managed to resist. I'm proud to say that I managed to avoid going on tilt and viewed the massive loss as a fact of life. Here's the P&L for today.

Horse Racing: GBP55.21 Total P&L: GBP55.21

Horse Racing Showing 1 - 12 of 12 markets

Market Start time Settled date Profit/loss (£) Horse Racing / Muss 29th Jun : 7f Hcap 29-Jun-09 21:25 29-Jun-09 21:36 1.87 Horse Racing / Wind 29th Jun : 1m Hcap 29-Jun-09 21:10 29-Jun-09 21:19 1.31 Horse Racing / Muss 29th Jun : 1m Hcap 29-Jun-09 20:55 29-Jun-09 21:01 5.45 Horse Racing / Wind 29th Jun : 1m3f Hcap 29-Jun-09 20:40 29-Jun-09 20:46 4.84 Horse Racing / Muss 29th Jun : 1m4f Hcap 29-Jun-09 20:25 29-Jun-09 20:29 6.38 Horse Racing / Wind 29th Jun : 1m2f Hcap 29-Jun-09 20:10 29-Jun-09 20:17 10.65 Horse Racing / Muss 29th Jun : 5f Mdn Stks 29-Jun-09 19:55 29-Jun-09 19:58 9.31 Horse Racing / Wind 29th Jun : 6f Mdn Stks 29-Jun-09 19:40 29-Jun-09 19:50 2.12 Horse Racing / Muss 29th Jun : 5f Hcap 29-Jun-09 19:25 29-Jun-09 19:41 4.60 Horse Racing / Wind 29th Jun : 6f Sell Stks 29-Jun-09 19:10 29-Jun-09 19:13 3.37 Horse Racing / Muss 29th Jun : 2m Hcap 29-Jun-09 18:55 29-Jun-09 19:02 5.22 Horse Racing / Wind 29th Jun : 5f Mdn Stks 29-Jun-09 18:40 29-Jun-09 18:45 0.09

Notice anything strange? No losses! Yeah baby. That massive loss I took on the chin decided to bring itself right back down to 5.00 from 9.00. This time I rode it the right way and made pretty much all my money back. What started as a tight-ranged scalping market very quickly turned in to a nightmare swing. I wish I had saved the graph of the horse, but alas it's gone.

There were definitely a few hairy moments today - I have made a quick video of a scalping market I attacked. You can see that near the start I was just watching the market to see any trends that were developing. I decided that the market was going to stay rangebound, but show high volatility characteristics due to the quality of the race.

No sooner than I got started a nice big bet came flying in taking me a good few ticks out of the money. Not a good start. But again I kept my composure and manged to claw back the loss for a tidy profit. I wish every market was like this - we'd all make a killing!

I'm off to watch Top Gear now - missed it last night. Big fan of Stephen Fry so it should be a giggle. Video below: