EDGES Are Ten-A-Penny, But…

Last updated June 21st, 2016

…Execution is EVERYTHING

What a week its been!
Tomorrow I finish work for good and start a course for a month Monday to get me qualified in cable & fibre installation, but if the truth be known I’m really not interested!
Reason-being trading is booming! Although I’ve not really had much chance this week, apart from the evenings and maybe catching the last race at Ascot each day. There’s been a few screenshots of late I know but please excuse me as I’m particularly happy with my result today. I’ve been back and forth trying to catch as much as I can in-between looking after the nipper (hard work).
The only Ascot race I caught was unfortunate as I was going well and managed to go from +43 to -4 in a matter of seconds. Just before the off with almost 2k in the market I was being a little greedy! Madness… but hey; you gotta push the boundaries, right?!
Execution Betfair

Stakes

I’m sure almost all of us have (including myself) gone back through Mr Heathcote blog and read just about every post. One post always stuck out in my head with his results.. it was along the lines of average result per day: Jan – £30, Feb – £55, March – £329, April £500, May £900.

Approximately what he had so please don’t quote me but I’m sure you notice the spike… after seeing this I thought is this guy talking crap? is that possible? and for quite a while I thought it was exaggerated… but now I’m certain it’s not. He was obviously just increasing his stakes, rather rapidly too I might add!


Now I’m not saying I’m the same as I most certainly am not. But he could obviously cope with them sort of stakes without it altering his perception somewhat; which takes us nicely back to this posts title. EDGES are ten-a-penny… there’s any number of ways to approach a market and still be right but the ultimate edge is knowing yourself and understanding your own boundaries and more importantly your mind. On top of this having a systematical approach to placing and managing your trades in the markets, it becomes it’s own kind of ‘edge’. And so execution of your move becomes EVERYTHING!

Just look at the race 19.05 above. I was wrong with quite a lot of my decisions in that race, but the execution was good. You might think, so what? you only made a couple of quid, which is of course true. But isn’t a good thing when you make several bad decisions and still profit?

Hopefully I’ll finish early enough tomorrow to get nearly all the Ascot card!

Until the next time folks…

Related Article: Consistency Is King

5 thoughts on “EDGES Are Ten-A-Penny, But…

  1. Don’t get too caught up in the big meeting mentality, over the year they make little difference to the bottom line. Going in with increased stakes just cos there’s more money in the markets doesn’t always mean more profits and if you fuck up it’s just as likely to mess up any hard work you’ve already put in just to get back on track.

    Those crappy bread and butter meetings at wolves etc will make you much more in the grand scheme of things.

  2. Indeed, im well aware of this through past experience.. i havent dont many of the ascot ones, been upping it a little on the normal markets aswell 🙂 Ascot has been good mind, im more into it than i was cheltenham anyway!

  3. Thankyou their mr wagon 🙂 ….im really getting to grips with this now… pitty i got a naff connection for a month, im not arsed about P/L per market its all about consistency and its a great place to be both mentally and in the markets

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