Yesterday I was doing OK. I tried trading on a snooker game and was finding it to be fairly good because of swings in the market and where there is movement there is money to be made. Then I go and spoil it all by choosing the Rangers game for the evening trading. The first goal went in and I wasn’t greened up at all and I bought another position in the reformed market. I let it run and by half time I was just about greened up. I think it was at about 80 mins I decided to give it one more shot to make it a profit and wouldn’t you know it there was a goal in the 85th minute. Not only that I decided in my infinite wisdom to go all out seeing as had most of my betting bank locked into the game, to put in the rest. There was a chance that it would finish 0-2 to Lyon when there was only 4 mins left of the game. What happens but Lyon put another in the net at 88 minutes and that ladies and gentlemen finishes off the betting bank. There is €2.53 left there and that is not enough to work with.

Well it is a shame that it has worked out like that because I really liked the BinarySoft BDI software for trading with, totally excellent piece of software, but now though for a while I will have to use BetIE because it has a learning mode that will allow me to practice my trading skills without costing me my betting bank. Betty is not set up so well for trading as it has a small ladder in trading mode. Also I will be back to using the Betfair digital odds and frankly the Binary trading was just great. I think I will give the automatic hedging facility in BetIE a try out. I know it works well in horse races and I reckon it could be good in the under/over 2.5 goals market.Looking at this with hindsight I think I have thrown caution to the winds too many times and suffered the consequences. It could have worked out for me but the goals and the luck were not kind. It goes to show that protection of the betting bank is of the utmost importance and if I get doing some more I will take heed of my own advice.
On a happier note – Forex Trading
I also trade forex and this week I have seen the profits climbing through use of the Forexforsmarties.com robot. I have had a 17% increase of the balance that I started the robot with and it has been working really sweet. This version 2 of the robot has some enhancements that I like. There is a trailing stop working on the grid orders and the repeat grid orders. I have a trade working now on the Usd/Chf pair that bought at 1.336 and the price hit a level so that it automatically put in a Stop Loss at 1.336 a few minutes ago. The price rose some more and the stop loss has moved to 1.357 so that I would make a bigger profit from that trade.
The grid trades keep on adding small profits to the balance while there is either a profit less than 5% or it is in drawdown and then the robot is set so that if the unrealised profit hits 5% of the starting balance it closes all of the open trades and orders to add the money to the balance and opens up a new position automatically, compounding the profit as it does that.
I did some sums with the forex trading and worked out that with a 5% profit per month I could have a balance of over a million in about 5 or 6 years. Pretty exciting I think. Money management is needed with forex trading as with Betfair trading and it is a good idea to only trade with what you can afford to lose and when there are profits there to take some of it out and have money to spend that is not tied up in a trading account.
At the moment the forex looks very good to me compared to trading Betfair as it just adds money to the balance when using the Forex For Smarties robot, automatically and I don’t have to make decisions that could wipe out my bank totally. In comparison it is a little boring, but it is nice to see the balance growing 5 days a week and get the weekends off.
I have a demo account running without the robot and using only minimal trading. I check it once or twice a week usually although I did forget about it for about 2 months, that started with 10,000 dollars and the balance now is at 14,055.75 dollars with the equity at 13.500. It was started I think during the summer maybe in June. That works out to a 35% increase if I was to stop the account right now and take the $13,500. I wouldn’t do that though because I want to see what it is going to be worth in one year of trading. This is with the Non Trading Method, all you do is to put in a pair of trades of the right size and ratio to each other and leave it alone. If when you look at it, on your weekly or monthly check and there is a profit figure, then you close the trades down to add the profit to the balance and recalculate the next trades.
Have a look on the forexforsmarties site for the videos which show you how to set it all up.