after analysing my trades at the beginning of July I decided to do that every month. Here is an overview of my trades in July:
Tennis is my main sport to trade on, so I will make a detailed analysis of this.
number of matches I traded: 28
number of wins: 20
number of losses: 8
scratched trades: 0
number of wins > 3€: 14
number of losses > 3€: 4
total win: +114.74
total loss: -33.10
total pl: +81.64
average win: +5.75
average loss: -4.14
average pl: +2.92
win rate: 71%
max win: +12.79
max loss: -15.41
The conclusion from the last analysis was to avoid losses greater than 20€. That is something I achieved this month.
At the 9th of July I had a profit/loss in tennis of -€11.71, but I was not feeling bad, because I knew if I would stick to my plan, I would be in profit at the end of the month.
I also reduced the number of matches I entered. I only entered matches, where I was very much confident to make profit. In trading tennis this was my best month, because I was very disciplined.
total profit trading Tennis in July 2008: +€81.64
Trading Formula 1:
I traded two races and wanted to know which markets suits best for my style of trading.
The Fastest Lap market is the one I will concentrate on in future. I do not expect very much profit, because there are mostly only two races per month, but why not trade on a market which suits my style. Even if there is only a small profit possible, I will take the money ;)
total loss trading Formula 1 in July 2008: -€1.06
What to say about these 'trades'? Too high stakes when learning to trade a new market. I also traded this market not in the way I wanted to trade soccer.
I wrote in an earlier blog post, that I will trade this market only on paper in the next weeks. I wasted too much money on this market.
total loss trading Soccer in July 2008: -€52.21
Here is an complete overview of July 2008:
Formula 1: -1.06
Horse Racing: +0.73
total profit this month: +€29.10
I wrote nothing about the Horse Racing. I tried some functionality of my trading software BettingAssistant and do not want to start trading the horses.
What is the conclusion of all these numbers?
- Trading tennis works good. A similar result in August 2008 and I would be very happy.
- Concentrate on Trading Fastest Lap in Formula 1.
- When learning new markets, trade only on paper, because all money is created equal.
Actually I am looking for other sports to trade on. Mark Iverson started a poll about sports he should concentrate on. Mostly he is trading Cricket, Darts and Rugby Union.
I have no clue how to trade on cricket. The good thing is, you can trade this sport via live ticker, so you need no live pictures. That is the same in trading tennis. I only use protennis live ticker, no live pictures.
When trading darts I think you need live pictures and darts is not televised in Germany. The same with Rugby Union, no pictures in Germany. That is very sad, because this sport is similar to American Football and I like watching and trading NFL games. Sports without market suspension suit my style of trading.
Also trading Snooker is something which could suit my style. The question is: Are live tickers available and are they reliable?
I will watch other markets closely, so maybe I discover some possibilities of making profit in other sports.
Good luck with trading!