Results for day two:
Not what I’d hoped for in truth, here’s how it went…
Expectations, Stress & Frustrations!
Following day one’s results, there was a little to live up to! Unfortunately, it didn’t quite go that way.
As I mentioned yesterday; I’d managed to knock the front half of my tooth off. A cap that tends to come off from time to time. I lost the original half some years ago, scrapping in the Army. It’s a pain in the arse as it tends to come off at the most inconvenient of times!
Anyway, I dived into the markets ahead of my appointment trying to pull something special out. The result is one step back before another back to square one, a little daft on reflection. It happens though.
So with the dentist cracked, a shiny new tooth, and half the card left. I jumped back in the hot seat. It wasn’t a lot better to be honest, with Musselburgh, Chelmsford and Bath to choose from the markets were quite volatile.
Shortly after getting stuck the website went down, lighting up my phone and inbox with notifications… thinking about it, I could have just left it until later. But several times this month my web hosting provider has left the site down. That’s one thing, but the “it’s not us” attitude you get when calling them (before you’ve said a word) gets to me more than it should. Apologies if you were trying to access the site.
It was my own fault for getting sucked in and sidetracked, but things could have been far worse.
How it Worked Out…
If I hadn’t of attempted to top up the results on the mutts the overall result would have been close to the overall 10%. Once I dived in (after a phone call to the web host) and did that I knew it was best to just walk away. The day had been a frustrating one and scraping around on the mutts in a bad mood wouldn’t have helped much.
The overall result was a 7.8% increase on the original bank. The total increase is left at 29.45%.
I’ve no doubt yesterday could have been a whole lot better but with only 0.65% left of the original posts target, it’s likely I’ll manage it!
Thursday Trading Result:
There were a couple of questions on the last post about how much staking is required to make some of the profits. This was a decent little move on £50 from yesterday. You’ll see I was a little indecisive early on when laying at 2.78 and then closing out at 2.8. Before then laying again at 2.88…
Observation:
I’ve noticed from a couple of tweets and Facebook messages that as I suspected in the original post; there are some crazy expectations. Without naming anyone, it’s quite unrealistic (pre-race trading at least) to start out with a £50 bank and make £100 that day. That person is gambling. In-play it’s quite possible to make larger returns to stake quickly, but it’s a hell of a lot easier to burn the lot as well. Not what my trading is all about.
Catch Up With Day 1’s £400 Trading Bank Challenge Results Here
16 thoughts on “£400 Bank Challenge: Day 2 Results…”
Hi Caan
Another solid result and it proves to those both starting out and into their journey, what is possible.
Also, I think it’s an excellent illustration that someone with a small bank like your current one, is actually at an advantage over someone with a larger bank – your ‘normal’ one i.e. if you are putting stakes of £10-£50 through the market, you can operate quite easily but once you get higher, the markets notice you more.
Will be looking forward to see how Friday goes for you.
Hey Chris,
This is a very valid point about the stake sizing too. Although the small bank means I cant have so many orders scattered about and enter time and again so easily, it does mean there is a window to get filled without being over exposed yes!
Cheers, no pressure then haha!
Caan
I’m sure I read / saw your say somewhere that they should never be any pressure when trading 🙂
To tack on to my earlier comment, I also think that if you gave an experienced trader a £10 bank to trade with and a newbie £100 bank to trade with, over the course of a week the experienced trader would show a greater return.
Of course, that knowledge only comes from spending time in the markets aka paying your dues.
Very genuine post here Cann! Sounds like you’re being a little hard on yourself. I’ve been trading on and off for about 3 months now and would be chuffed to pieces with a return like that on the capital
Maybe, thanks.
Hi Caan!!!
My question about challenge:
Sure it preracing trade and that the addition of the profit on the bet to the next prerace trade?
It’s well not inruning trade and adding the win on the bet to the next race?
Not sure what you mean here Roger, if you mean is it in-play – no. Although being the last day I guess I could take a little more risk in places, we will see.
At the moment my aaim is to not lose, small penny profits come , it is possable to build a very small bank up but it takes time. your pre race guide is great, filled in a lot of missing information for me
The perfect goal. If you can just make sure you don’t lose – that’s enough!
Hi caan. I hit + £80 today. I am not doing the challenge but just wanted to credit you with some of the knowledge you have inparted on me. For me its mainly come from back to lays and the odd dob! Cheers again
No problems. Thanks Matt… glad to have helped you!
Hi Caan. A very frank and honest post, highlighting the pitfall of rushing into the markets. I’ve tried trading the greyhounds before with baby stakes (£2 to £5) and it was just as much a lottery as if I’d done a straight back bet in the bookies! At least your tooth’s sorted. Looking forward to the final result of your challenge.
No problem, Trevor. No point beating about the bush!
Nice one Caan. I am trying to increase my bank 3% a day for 24 days to double it. Not as easy as it sounds after 7 part days trading due to work -30%. Had some poor luck but having said that you make your own luck with correct decisions and bank management. Clearly I am still a long way from success.
Hi Mike. It’s probably a good thing not to set yourself targets. It just puts unnecessary pressure on you, which can have a negative knock-on effect in your trading. I’ve set myself targets and they turned out to be unrealistic and it took the pleasure out of it…. wiping out the starting bank didn’t help either!
Hi Trevor
Yes I totally agree I perhaps phrased my notation incorrectly should have read it would be nice to double my bank in that timeline. Lol
Regards
Mike