Keeping focused is paramount when trading Betfair. A few moments of lapsed concentration can be painful.
So as the summer kicks-in and temperatures rise, it can be quite distracting… what to do?
Last year I had this problem and was really quite slow to act – this time I should be better off!
Not really ideal is it ?!
Today I was a little slow off the mark though…
It was nice to see some proper sun at last, but I found it pretty easy to get distracted. The new office probably played its fair share in catching me off guard though, I haven’t traded here in this weather before. That said, at least I managed to resist the urge to hit the beer garden early… something that’ll become more of a problem over the coming months I’m sure.
I think I’ll be spending the morning finding a way of cooling this room down, the little things like this really can make a difference. Today I kept it on track despite the heat, although I was all too aware of it. Apart from a couple of very large bets mid-afternoon things were pretty steady. There wasn’t any massive single results, I actually prefer a day like this when it’s that little bit stressful. Hopefully the heat continues as I have my son at the weekend!
Mid afternoon (Yarm 16.55) there were a few large bets flying about, thankfully I only got caught-out by it once. It was pretty painful swiping my green and putting me in the red – fortunately I managed to claw a bit back before the start (see above). You can see from the graph below; it inevitably put the runners price into a volatile spasm.
When this kind of volatility strikes (after a large bet) it can leave us as traders questioning what we did wrong… although the answer is nothing. You can’t predict that kind of thing sometimes.
All you can really do is dust yourself off, get back up and crack on. I was talking to another trader on Skype and they had been caught by the very same spike, having someone else to talk to in these moments of madness is helpful at times. If I didn’t have the option there’s a chance I may of been a little hard on myself. These things happen sometimes.
Accepting it’s a freak occurrence is an asset in my eyes as it allows me to continue without sending me into a poor mind-set. When you think about it logically, it’s bound to happen at one point or another anyway. Plus it’s all too easy to forget the time it happened and favoured you’re position!
Hopefully tomorrows markets won’t see many crazy bets like this (or at least while I have a trade open in the opposite direction).
Article: Horse Racing Trading Strategies