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.

6 comments:

  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.

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  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?

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  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.

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  4. Very respectable PnL for the month there Neil.

    And you can never have too many graphs!

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  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

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  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.

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