During the holiday season, I've been busy wrapping presents, attending family gatherings and meeting up with my friends, so I was unable to write up my thoughts and analysis for each of my trades.
So I don't lose track of my P&L within this blog, I've taken a screenshot of my results. My usual blog posts with further detail will resume next week.
It's been some time since Wigan last had a 0-0 away from home. Blackburn has had just the one in recent times. The "under 1.5 goals" market price during the second half was around 1.40, so I decided to lay this market as it was providing a decent Risk v Reward ratio.
I intended to lock in a profit if there's a goal and then let it run and see if there is a second goal before the final whistle.
Blackburn hit the bar in the 75th minute which I thought that was the moment to remove the liability then enjoy the final fifteen minutes, but it wasn't to be, and the game ended 0-0.
Here's a summary of how the rest of my trading went over Christmas.
There were some wins, some scratch break-even trades and of course some losses.
It's the end of a month, the end of a year and the end of a decade.
It didn't go too well during the festive season. I never really felt I was trading in the zone. Maybe it's because I was trying to "fit" trading into a hectic time and in hindsight, I wasn't dedicating 100% of my time to my football trading. Overall the P&L ended -£5.53
As I've done in the past, I've updated the "monthly report" page. What's interesting is I had a better win rate than I've had previously, but my ROI for December was lower compared to previous months.
Since I began this blog on the 1-August-2019, I've earned a profit of £494.81, which over five months is a 190% Return on Investment (ROI). Starting with £260 the balance is now £754.81
Reflecting on 2019, even before I started writing the blog, I've learned a lot in both trading methods, but for me, more importantly, is continuing to improve my mindset. I still have a lot more to learn though!
In recent months I've been flexible and adapted my trading methods while conscious of how much I will risk before I open a trade. My intention is always to ensure I'm here for the long term and not risk destroying my bank, but it's a balancing act as I don't want to be too conservative either. It can be tedious using small, manageable stakes, compared to the significant stakes and P&L I see from other sports traders online, but I want to "try" and stay disciplined and treat the amount I have to trade as if it was a larger balance.
September showed high returns, but I was risking between 7-12% of the total balance, per trade, and I didn't feel comfortable risking that outlay over the long term. I do get times when I consider increasing my risk from the current 2% (ish) stakes, back up to those earlier amounts and go for it!
Overall I'm happy with how it's going but still learning. Let's see where I'll be this time next year?
Happy New Year, everyone!
"Trading sports online is to back (in favour) a team or individual and then lay (oppose) at a lower price (odds) for a profit before the sporting event finishes. Alternatively lay (oppose) a sports team or individual and then back at a higher price (odds) for a profit." - SportsTraydor.