Made £15.79 on 3 races today. Man I wish I'd more time to devote to this but those kids I spawned keep requiring care! Not sure if I can do anymore before the end of the month but I hope I can. Is there a trade of the week for this week?
No trade of the week this week, the month ends on Friday! There were 4 monthly prizes already
What would you like us to submit for the final p&l? I really hope you don't want a screen shot of every market as so far i've traded 193 horse races.
Also how will the top 5 places be determined? Is it simply the people who have earnt the most this month (i need to dertermine whether it's worth entering my results )?
I'm going away over the weekend for a few days and am not sure when i'll be back. Don't want to miss the submission deadline!
Well, good question. I think after the month has ended if everyone wants to post their overall profit for the month of July then that's a start. Also maybe if everyone says how many markets they traded on that would be good as well, we can see how much the averages per market are then perhaps.
As with the weekly prizes, the overall prize will be for the people that got 'into the spirit' of the challenge and were trading actively, so if anyone had any bets where they forgot to close it or got lucky then those won't count, it's supposed to be a trading challenge so they won't count.
At the end of the day my decision will be final, I'll probably ask Andy to help judge it as well though. I won't include myself in the running for prizes, doesn't seem fair really since I'm judging it. No doubt it will be a cluster**** but hey ho!
So, probably best to wait until the end of the month before posting your totals unless you've definitely finished already. Will try and keep this thread updated with the overall results or procrastinator if you want to continue the great work keeping the first post updated that would be great thanks.
Grandthrax re whether it's worth you posting - I think if your total is less than £100 maybe it's not worth posting results, but I don't want to say one way or another really, will be interesting to hear how everyone got on, you don't need to upload any screenshots yet unless there's a chance you're in the top 5.
Cheers frank, have added your total to the leaderboard.
I've just updated mine as well, I ended on 103.61 in the end, to be totally honest I've not done anything really in the last 10 days or so since the last test match ended... must admit I got a bit unnerved by the randomness of it all and came to the conclusion that I'm really not that great at trading, seems to be more luck than anything else! So yes, I left it around the £100 mark and called it a day, think I had one random punt on some tennis last week for a £2-3 profit but that's about it.
Righto then... well it's pretty much the end of July right now, hope everyone's found it interesting/helpful/insightful/different in some fashion or other! Quite a few people bust out, maybe a dozen or so in profit? Will see in a few days I suppose once everyone's reported their final p&l...
I think I'll send out an email to everyone taking part just to try and get everyone to update their final figures on this thread. From there I will probably announce the final top 5 results on a separate thread and ask for screenshots etc to verify everything. I won't be taking part in the prizes, so there are 5 of you will be getting those. (EDIT: I will make an effort to send a mass email out tomorrow, 1st August!).
So, for now, anyone who's not reported their final p&l please just post the total amount here for now by 4th August 2009 if you want to be in with a chance of winning the prizes.
Just for the record, my final balance is £23.05, so at least haven't bust out. Didn't manage to get any more trading done this week, so my last effort was the dismal tennis results from last weekend.
It has been enjoyable, but there's no doubt it is gambling, pure and simple. I shall definitely be trying a bit more in the future, but it will be for fun rather than for making money (though of course you always hope - that's where the fun is!).
Munk, thank you very much again for what must have been (and still will be!) a lot of hard work. Good luck with working out your five winners - not a job I'd specially like to have!
Best wishes to all fellow competitors during the past month. It's been great.
For my bit, a good recovery from my low point and I am back up to £8.48.
Not had any time to trade over the last week, what with kids at home, flu and a memory problem (parity not senility ).
It is very restrictive playing with low amounts like this but it really does enforce that key quality - DISCIPLINE...
I bust out mid month after getting carried away. So thats -£50. I was doing well on Wimbledon and will definitely be following tennis matches when I get a good opportunity to in future. I did not even slightly get to grips with horses so will leave those in future. I dont think I can compete with the other "proper" traders and/or the inside info and off course money you cant factor in. Soccer its a shame I didnt get to focus on a bit more, I will look at that again now there are some big matches to cover.
I'm still on 52.98 (minus the few pence extra I had to start). Holidays and work, and a bit of family, scuppered any plans to devote enough time to it and I simply tailed off. I did enjoy the first week when I was trading a bit more though. I simply wouldn't have enough time with a full time job to do it for real.
After an initial fortnight of horse trading before the off that overall left me back where I started, I found my mainstay; football in-play trading, mostly overs/unders. Not done much in the last week as live footie has been pretty thin on the ground.
The first weeks on the horses were especially frustrating. Just after one 'good' trade(s) I would realise some 'bad' ones that just cancelled the good out. Thankfully no harm done, while gaining a lot of experience using the interface (did anyone else find the ladder confusing at first? I was often laying instead of backing etc...) I realised horses were not for me, as in reality I had no idea what I was doing and was essentially punting on the horses odds in question falling. Sometimes it came off, sometimes it didn't. A well done to Grandthrax who appears to have been the only person to be successful at this.
Once the over/under trading began the profits began rolling in. A few hairy moments when Betfair didn't put the game in-play, but no serious damage done. I would often watch a live feed of the game to judge whether I thought goals were likely. On one occasion (Lyon v Porto) the opening of the game was end to end stuff, I quickly exited for a quid or so. A goal was scored minutes later. In some respects that was the most 'satisfying' profit on footie, despite it being nowhere near my best. Whilst this was not guaranteed to work, as 'flooky' goals happen all the time, it certainly aided me - the more information the better when it comes to trading.
Overall I'm very pleased to have participated, its been fun and very informative. After the challenge this is something I am most definately going to continue. Particularly trading on next seasons live champions/europa league footie.
A thanks to munk and Adam at Racing Traders for getting this all going, as I would have never attempted this otherwise! And to procrastinator for suggesting this in the first place!