Gold Cup day is nearly always the most enjoyable day of the week for trading, this year was no different.
I’m completely exhausted, thank god the markets aren’t this busy every day of the week – trading would feel like work.
The Cheltenham Gold Cup 2023
Despite all the frustrating news around the industry over the last 6 months, today came good. There really is nothing like that Cheltenham roar.
Galopin Des Champs totally outclassed the opposition from two out. Personally, I was rooting for Bravemansgame after having a tenner on it for this week’s YouTube upload (I found it hard submitting a recreational bet at bad odds haha). Clearly, there was nothing left in the tank from BMG…
Trading Day #5
It was much the same as the rest of the week for me, I had a slight wobble in the second race at Cheltenham but came away unscathed. A little keen to get on with things coupled with over-staking found me feeling uncomfortable but thankfully I got away with it – nobody’s perfect I guess.
Despite the Gold Cup being the primary focus there were some good opportunities on the alternate cards (particularly earlier in the afternoon). Everyone has their own style and conditions but as I’ve got older I tend to think the standard cards are an easier trade. I bang on about it every year and it’ll always happens but amateur traders end up chasing their tail on the thinner stuff, momentarily shifting prices for a good entry… greed and fear provide extra opportunities.
Trading is largely a game of psychology and anticipation, Cheltenham just increases the stakes! Talking of which, there was far better liquidity this year compared to last. Something to keep an eye on over the coming months for sure. Having been dragged through the mud publicly, it could be that the exchange markets are bouncing back a bit, who knows?
Either way, it’s been a long but enjoyable week! I’m off for a beer, again 🙂 have a good weekend enjoying your profits (hopefully).