I had another blow out. So disappointing, going away on holiday tomorrow and didn’t really need this. Up until then it was a low-key but profitable week; picking up about $600 of profit. I had picked up where I left off on my horse racing edge, working on getting my sample size bigger and things were going along nicely. Yesterday I attempted to trade some Australian races, but the liquidity was so terrible that the markets were far too volatile. I got stuck with one lay, the race jumped before I could hedge, you know what happens, the thing comes from 2nd last to win. Things went downhill from there.

I attempted to mug bet my way out of the hole, but the hole got deeper and deeper. In the end I busted a bank, giving back the money I had won during the week and more. It’s disappointing, these are mistakes I’ve made before and it certainly makes you second guess your ability to progress in this industry. Maybe I’m destined to fail like everyone seemingly expects me to.

I hate to admit that I could be so foolish as to do this, it’s embarrassing really, I was a complete whale punter yesterday, sad shit. It’s so embarrassing that I didn’t want to write this blog post about it. But when I set out to do this, it was going to be “warts and all”, no hiding the truth from people, besides, in the future these are the posts that may help someone on their journey and that’s half the reason I’m doing it.

There were positives to come out of it all. Yesterday was the first proper realisation that this is going to send me back to “the real world” if I don’t plug this leak. With my other blow outs I either blamed the market, the player, team or that fucking horse that came from 2nd last, (jokes, not it’s fault at all, this is on me). I would rationalise it by saying “I could afford to take a bit of an extra risk there”. But this is it, I’m making a stand on this sort of shit. No more, this loss will be a “watershed moment” for me and I will be making some changes to help stop this from happening again.

As I fuck shit up, rules are added to the list. I’ve added a safety net for these sorts of mishaps, I won’t be having any more than $500 in my Betfair account at any one time. Any additional winnings will be withdrawn, while I will top up the account if required after any losses. When I played poker full-time I had a session limit I was prepared to lose. Although in theory I shouldn’t digress from my most effective strategies when winning or losing, the fact is that when I lose a “significant amount”, my head get’s a little fucked up and I’m not thinking with complete clarity. The next rule is pretty simple; don’t, fucking, do that, again!

Leaving tomorrow at 9am for Vietnam. I’ll enjoy this holiday with my beautiful girl, eat great food, drink great beer, see great things and meet some great people. When I’m back I will be head down bum up on turning things around. I’m getting closer to getting this all together everyday, either that or I’m massively in denial. I’m sure this post will help all the haters, haha, fuck. It’s not the end of the road, nor the end of the world.

-$1750.06 on the week, account balance +$8176.94

Cheers Luke

Betfair trading profit and loss graph, down swinging.

Such a disappointing mistake towards the end of the week. Have to learn to stop this or the dream will be over before I know it.
Things were going along slowly and nicely this week before I had an absolute blow out. It’s so disappointing that I wasn’t even doing what I wanted to do, I was mug punting. Disappointing.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s