I've had to remind myself that I'm in sports trading for the long term. I can't get demotivated, deflated or angry if I see "red" on screen or have a drawdown. This weekend you'll see I had a few losing trades.
I'm not giving up, despite a rough end to the month, because looking at the bigger picture - September was a good month.
I've started to read "The Compound Effect" by Darren Hardy again! It's an excellent book to remind me how I need to break this all down and not rush things.
No trades placed on Friday.
Saturday wasn't my best days of trading, but I accept that I'll have days like this. I'm not naive to think every day will be a day of green, successful trades. It questions the mindset that's for sure. I can't control the outcome of games, so I have to accept days like this. What I can control is that I stick to my rules, ensure the "probabilities" are in my favour and what will be, will be.
Sheffield United v Liverpool
Liverpool usually scores for fun, and so when I saw they were being held to a goalless scoreline in the second half, I believed there would be a goal. Therefore I opposed the current score and layed Under 0.5 goals. I entered the trade with a clear exit point should the trade go against me.
Well, this was frustrating. The score was still 0-0, and the price decreased to my pre-determined exit point. It was around the 68th minute and sticking with my trading rules I had to exit for a loss. Two minutes later, as I expected, Wijnaldum scored from a Sheffield United error. Typical!
Although I was frustrated, as I expected at least a goal in the game, I was happy I had the discipline to stick with my rules. They'll be more opportunities to win a trade!
Bordeaux v PSG
French Ligue 1
I shortlisted this game earlier in the morning. While out walking my dog, listening to an audiobook, I checked my mobile and noticed that PSG was being held 0-0 against Bordeaux. Examining the stats, I believed this was a game to trade. When I got home, I entered the Betfair market, laying Under 0.5 goals. Again, setting myself an exit point should the trade go against me.
I had to wait until the 70th minute for the goal to arrive. Neymar was on the score sheet. A winning trade!
Rosenborg v Brann
Rosenborg has been dominant at home this season. No losses in their last ten matches, so when I saw they were being held 0-0 at home to Brann, I was confident to open a trade, expecting goals.
Well, as I've mentioned before, I set myself an exit point, to ensure I have a positive R: R ratio, and that time to exit arrived in the second half when neither side had scored. A losing trade!
In the end, it felt like a small win. Why? The game finished 0-0. If I had not obeyed my rules and got out of the trade when I said I would, then I would have lost a lot more.
Fortuna Sittard v Sparta Rotterdam
I'll be honest this was not a game shortlisted as a potential trade, but I noticed some other traders talking about this match, and I felt it was one I could get involved in.
Not much more to say than I was expected (hoping?) a goal in the second half, but the goal never arrived in time, so I exited when the price decreased to hit my stop-loss, and I was out — another losing trade.
Like with the Rosenborg game, it felt a little better when I saw the match ended 0-0, as it could have been a more significant loss if I had not shown discipline and got out when I did.
I posted on Twitter that today was a losing day for me. This is just part of the journey.
I refer back to the comment I read by Mark Douglas. As traders, we need to be rigid with our rules and flexible with our expectations. I need to be sure it's not the other way round!
Sunday is a new day.
Well, Sunday wasn't much better as you'll see.
Utrecht v Willem II
Look at the pre-match stats I believe this would be a game Utrecht would win. At half time it was still level. Early in the second half, Ultrech went down to ten men after a sending off. I still felt there were goals so layed under 0.5 goals.
It wasn't to be. The price decreased down to my stop loss price so I exited for a loss. Ultrecht went on to win 2-0. I profiled the game correctly, but the goal didn't come early enough.
Corinthians v Vasco
Brasil Serie A
Another game I shortlisted in the morning. I read a stat that Corinthians have only failed to score at home this season in 9% of their games. So when I saw the game was still level, I decided to lay under 0.5 goals.
The goal came around the 59th minute and was a winning trade.
Guimaraes v Ferrira
Portugal Primeira Liga
I was pretty confident going into this trade. The score was still level when I decided to oppose the current score. The reason being is that Guimaraes have scored in all their home games this season and Ferreira have conceded in all of their away games. You can see why I was feeling confident.
Well, this was a losing trade. The goal never arrived before my stop-loss price was hit. I then saw that they scored in the 94th minute to back up those stats, but far too late for me and my trade.
Eskilstuna v Malmo FF
Pre-match stats had Malmo winning this easy. After the first half the game was still level. Malmo has only failed to score away from home in 25% of the games so I layed under 0.5 goals.
Another loss, as the goal never arrived in time. Sticking to my rules, I left at a price I determined before I got involved. Malmo went ahead and scored in the 81st minute. Again this was too late for me and my trading methods.
Standard Liege v Charleroi
So this was interesting. I used a method I've learned from Ben Michaels"Ultimate Football Trading" course for this one. It wasn't my usual trading method. I won't go into the details of how I entered the trade as it's not fair on Ben and his paying members, but to summarise I apposed Charleroi with around 15 mins to go when they were priced at odds on.
Standard Liege have not failed to score in their home games this season, so although they were losing 0-1 I felt there would be a goal. I had to wait until the 91st minute, though! What a thrill to see a goal scored so late and as a result, a winning trade.
There was slight tension near the end as the match went suspended after I had already cashed out. Looking at Flashscore, it said the match was interrupted due to a riot by fans. I wasn't sure if this would void the trade and if I would still get paid. In the end, it was OK as the match was able to finish and the market closed.
Not a great weekend if I'm honest. A losing weekend. I kind of feel deflated, but I know that this is a long journey and not a quick-rich scheme. I assume all traders have an element of doubt or question their methods when they see they've had a losing weekend or period of time?
Before the weekend the balance was: £526.17
P&L for the weekend: -£21.90
Balance at the end of the weekend: £504.27. an ROI of +94% in total since 1-August-19
Although I've had a tricky end to the month, I then feel better when I total up my results and see how September went - Go check out the monthly report page.
September Trading Report
Overall a positive month. 45 trades placed, 29 of which were successful. You can see the break down over in the monthly report page.
"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.