Pre Match Trading Results
12th October Wales v Scotland / Over/Under 2.5 Goals – Won 61p
Overall Pre Match Trading Profits – £36.82
A very quiet week with the pre match trading due to the fact it was an international week. I did look at, and toy with the idea of trading some obscure matches during the week, but due to low liquidity and me not knowing a thing about them, I decided not to bother.
I suppose when I’m more confident at reading markets I may well dabble into the unknown games, but for the time being I think I’m going to stick with what I (think I) know.
The one game I did trade – Wales V Scotland – I made a bit of a mess of in the end, despite a moderate profit.
It all started off ok, I managed to get matched and greened up with my first bet for 61p on both sides of the trade almost immediately. I then went back into the market, but after I got my back of Under 2.5 goals matched the price started to drift out.
I thought it was a temporary drift and that the price would come in again meaning I could trade out, but it didn’t. And I ended up having to let the game run for about 90 seconds before I could scratch the second trade, leaving me with just my original green (61p) from my first pre match trade.
I was very annoyed with myself to be honest. I know that I’ve written this before, but letting matches kick off before I trade out is distorting my records really. My records are correct with regard to trading football, but not with regard to pre match trading (if I’m going to be pedantic).
Also, I can’t be doing this if I’m trading with five hundred pounds or a thousand pounds, etc. I’m really going to have to start to close my position out before kick off from now on, whether green or red.
Basically the problem was with the second trade, and along with this match, it’s been an issue I’ve had for some time now.
When the price drifted out on the second trade, I waited thinking it would come back in again. I’ve noticed in the past in these situations that sometimes it does, and sometimes it doesn’t.
This is where the problem lies.
I believe I had two options when this happened. The first was to sit tight, wait and hope (expect) the price will come back in, that the market will realign itself (in other words, it’s a temporary blip).
Or the second option is to trade out there and then for a small loss and start the process again. In this situation I would be expecting the price to stay hovering around the mark I traded out at, and then start the process again from there, trying to lose my red.
The conundrum is, if I take the second option and trade out straight away, and then the price goes back to where I was originally trading it (option 1), I will be very annoyed, as I will have traded out for a loss when if I had waited I would be green.
I’m not sure which is the best way to go here, I suppose experience will tell in the long run. The only other option I can think off is – after securing the original green – to just move onto the next match as soon as I have greened up. Decisions!