Monday, 30 November 2009

November summary

Overall, November has been my best ever month:-

PnL : £28.28
Strike Rate : 62.33% ( races not trades)

Even though its been my best month, both values are quite low. Using £10 stakes I would be looking for £60-£90 a month, and my strike rate seems quite low. I have also traded a low number of races, only 377 out of the 600 or more races. I know that I am avoiding a lot of races with odds on favorites or very volatile markets with odds in the 2.00 to 3.00 range, I will need to work on making these markets profitable if I want my PnL to grow.

In general though, I have a lot to be pleased about. I found a good spreadsheet on this site , made by MG from the Trading Mind Games blog, it gives a lot of good information on how your trading is progressing. Firstly, my PnL for the month.

After the disasters around the 7th-8th Nov, my PnL has been rising pretty steadily, and I have been fairly consistent. Even when I have had a horrible strike rate, I have still managed to keep it together pretty well.

Some graphs :-

My average loss has been steadily dropping throughout the month, and this is a very good sign. My average win has gone up very slightly. I am worried about my strike rate, which has gone down through the month( although it is still round about the value for other months). I don't want to become ever more cautious and fearful in an attempt to increase my strike rate, so I need to strike a balance between going in to the market when I perceive an opportunity, and making sure that the opportunity is a good one. I am making a profit, and this is something to be proud of at this stage.


  1. It's funny how things turn out, I used to hate races with a red hot, odds on favourite. Now I look forward to trading the race when I open up the market with a 1.3 fav.

    I think there was one I traded today that resulted in my 2nd biggest race profit of the day and the easiest I traded.

    Oh and if you get in trouble and have money on the jolly then you can run it in play.....Ooops, not anymore I don't.

    Keep up the good work Neil.

  2. Hey i was wondering if you were still around or had disappeared into the void that swallows most beginning traders. How u getting on?

  3. I've switched back to the outsiders. I've noticed I get in trouble the most on the favourite, whereas the outsiders are easier to trade and I have a good feel for them.

    Because I've done that the last two days have been pretty good and my confidence has increased. For me confidence is a problem, however, making consistent good trade by trade profit is helping that.

    On a starting bank of £1076 today I've ended at £1300. One In Play profit of £44 in that when I was in a mess and about £25 red at the off.

    Suprising how the £7, £9 etc trades add up over the day.

  4. Very respectable PnL for the month there Neil.

    And you can never have too many graphs!

  5. Hi Neil, thanks for the link! Well done on your results, a steady profit really is quite an achievement. I like the name of your blog! Cheers, MG

  6. Thanks for the comments.

    SJD, nice going, £230 in a day is awesome, hope you can do it every day :P

    MG, no problem, thanks for the support, and Mets too.