Bestake's Trading Log

Bestake

MODS - CLOSE THIS THREAD IF IT IS NOT IN COMPLIANCE WITH POSTING RULES. THIS LOG WILL BE ALL AFTER TIMING, HOWEVER THE PURPOSE OF THIS LOG IS TO KEEP A DIARY OF MY TRADING, AND DISCUSS TRADING STRATEGIES WITH MEMBERS. THIS ISN'T INTENDED TO BE ANOTHER COUGHLANGATE OR SOME TYPE OF A 'THE SYSTEM WORKS, NOW SUBSCRIBE TO MY WEBSITE' TYPE OF LOG.

I NOTICED THERE ARE NEXT TO NO TRADERS ON THE FORUM, SO I WANT TO START A LOG.

Now the disclaimer is noted, I intend to start posting my trading log on a regular basis. My trading strategy is based mainly on soccer, preferably one of the high over/unders goal markets. My aim is to back the under as the money is starting to leave a price (eg. when down to the last few thousand/hundred on 1.03) and lay off early as possible (1.02). I sometimes green up but I mostly leave the overs untraded.

I try to trade out before kick off, but I do let trades in play. I also like to take positions while in play but I try to trade in a market where if a goal is scored, I can red out with a copable loss. For example if I was looking to trade the under/over 4.5 market at 1.03 and the current price for under/over 3.5 market is 1.09, I feel comfortable. If a goal is scored, it is likely I can red out at around 1.07ish. I try to avoid markets where if a goal is scored, then I need to red out over 10 ticks.

I generally try to avoid having an open trade where the postion can be entirely wiped out by a single goal, eg. trading under 0.5 goals on the 85 minute.

I am hoping to avoid over trading. I have set daily, weekly and monthly targets for myself, so when my daily is reached, then I am done for the day.

My starting bank this morning was €632.67.

Bestake

Starting Bank : €632.67

Started trading this morning just after 10am and finished around 3pm (passively). Ended trading with a profit of €51.23, of which €30.00 was withdrawn.

Main trade was the Tanjong Pagar United v Woodlands Wellington game (final score 0-0). A low scoring game, I got in at the right times, profiting over €39 from the under 1.5, 2.5, 3.5, and 4.5 market. Got in to the 3.5 market just before half time and left the trade ride for 3 ticks making a nice €18 profit.

Also made around €12 on the FC Inter v HJK Helsinki (final score 1-1). Two goals within the first 20 mins left the over 6.5 market at 1.04 at half time. Got in a 4's and out at 2's.

Got a pre match 1 tick in and out trade for the Hong Kong FC v Wofoo Tai Po game for the under 2.5 market, but I never greened up and the goals flew in once the game started.

Closing Bank : €684.51
Profit : €51.84
Realised Profit : €30.00
Unrealised Profit : €21.84

My target for today was €664.46, so as this was exceeded, that is me done for today.

Bestake

By the end of March I'm hoping to get up to a bank of round €1,700 (and get €600 of that profit realised).

Target by Sunday night (6th March) - €729.49

TheHatchetMan

Sorry I'm relatively new to this, could you explain what 'trading' incoperates.

Bestake

It can incorporate a wide range of methods and strategies, but my strategy is fairly primative, in that I go to a Betfair market, back at such a price and lay at a slightly lower price, taking a profit.

Price movements can occur for a variety of reasons, but I try to get on price movements based on the passage of time - eg. if the score is 0-0 after 50 mins, the under 2.5 goals could be 1.10. After 52 mins, it could be 1.09. Aim - back at 1.10, lay at 1.09. 0.01 profit can be greened up or rode.