International football is in the rear view mirror, and I'm looking forward to trading the domestic and European club competitions.
This week, aside from working my day job and trading sport, I've been considering my goals. I was listening to a podcast on setting goals and how it helps us to keep focused on what we want to achieve. This week I started jotting down some goals on this thing called "paper" with this fantastic item called a "pen". I don't want to drift from day to day, placing trades, recording the P&L with no objective or goal in mind. I'm convinced that if I carried on without a purpose, I might start to think of trading as a chore and lose interest in it.
Don't get me wrong; I'm enjoying the journey, but I'm someone who wants to work towards an objective. I do it in other areas of my life, so why not with my sports trading. Heck, starting this blog was a goal of mine.
So how did this week go?
As I write this post, the two trades seems a distant memory and rightfully so. Not the best of days.
Bodo/Glimt v Mjondalen
Bodo/Glimt, odds on favourite and showing some decent form at home against a side who have been struggling. Approaching the midway point of the second half the score is 0-0, although the home team have been dominant in the second half with 64 % of possession and two attempts on goal.
I decide to enter the market and oppose the current score.
It wasn't to be. The game finished 0-0, so this was a losing trade.
Lens v Auxerre
French Ligue 1
Lens was pre-match favourites priced around 1.80 against Auxerre who were 5.25. During the second half, the score was still 0-0. After analysing the in-play stats, I expected at least a goal in the second half, so I entered the market feeling confident.
As with the earlier game in Norway. The worst possible outcome. The game finished 0-0 and therefore another losing trade. What can I say, I managed to trade two games that both finished 0-0.
I closed the laptop down and went to bed, crying my eyes out. OK, maybe I didn't do that, but I did close the computer down. I wanted to prevent myself from discovering potential (hopeful?) trades in obscure places of the world with single figure market liquidity to "try" and make up the loss.
After yesterday losing day, I was still feeling hopeful of a positive week of trading. Talking to fellow sports traders on Twitter and Telegram helped me "get back on the horse" as they say.
Atletico v Bayern Leverkusen
Champions League group stage
I got fortunate with this trade. With the game poised at 0-0 in the second half, I entered the market, expecting a goal. The goal eventually arrived, but rather than cashing out; I decided to remove the liability to increase the profits if there was a second goal. If there were no further goals, it would be a scratch outcome. Either way, I wouldn't lose.
A few moments later, I was checking some other scores on my phone but inadvertently placed a second trade on this Atletico Madrid game. Suddenly I was in a negative situation if there was another goal. I had to react quickly and clicked the green cashout button. I locked in a profit regardless of the score, but with a reduced amount if there was a second goal.
As it happened, there were no further goals, so I won the trade. If I had not "thumbed" an additional trade into the market and reacted by cashing out, I would have had a scratch trade. I got lucky with this.
Preston v Leeds
Not much to tell regarding this trade but I believed Leeds would get something out of this match even when it was still 0-0 in the second half. Rather than backing Leeds, I entered a trade in the goals market. One goal would see a scratch trade, maybe a small profit, but two goals would be an even higher profit.
Well, the goals came late. Preston scoring in the 74th minute and then Leeds scored to make it 1-1 in the 87th minute. An excellent return for this winning trade.
Juventus v Lokomotiv
I entered the market, expecting Juventus to get back into the match when they were 0-1 down. The goal arrived too late in the game for me to make any real profit as the price only decreased down to my entry price; therefore, I made £0.01 after commission. A wins a win, or maybe I'll call it a scratch.
Another round of Champions League matches to trade.
Ajax v Chelsea
Champions League group stage.
I put this game on the TV in the second half. After some time, I believed there were goals in the game. I wasn't sure what team would score, so I entered the market opposing the current score.
Chelsea took the lead late in the second half, and as a result, this was a winning trade.
Bristol City v Charlton
Wow, talk about a late winner and a fantastic last-minute winning trade.
I had entered the market in the second half laying the draw with the score at 1-1. I don't tend to Lay The Draw (LTD) often, but I did for this match. I was prepared to accept the loss and even typed the negative amount into my Excel tracking sheet when the Flashscore audible sounded. I looked across to my other monitor to see Bristol City had scored in the 98th minute. Yes, that's in the eight-minute of injury time! What a way to win a trade.
Derby Country v Wigan
With the score still 0-0 in the second half, following my analysing of the in-play stats, I decided to oppose the current score late in the second half.
Talk about a day of late, winning trades. Derby scored in the 92nd minute. Like with the Bristol City game this evening, I won a trade in the final seconds of the match. Couldn't I believe my luck? (or shall I take credit for my match profiling skills?). Either way, a lovely end to the days trading.
Europa League action this evening.
Porto v Rangers
Something new for me. I have been doing some research and reading articles and media posts from fellow traders who trade in the first half of the matches. You've probably worked out by now I prefer to enter in the second half.
After some research, I entered the market in the first half expecting a goal before half time. Call it beginners luck or well planned, but either way, I won this trade when Porto scored in the 36th minute. I'm wondering if this something to look into more?
CSKA Moscow v Ferencvaros
Like with the Porto v Rangers game, after doing some pre-match research I decided to enter the market expecting at least a goal before half time.
Ah well, it didn't work out this time. The match was 0-0 at half time, so I lost this trade. But...
It wasn't over for me, as I returned to my second half trading method. Midway through the second half with the score still 0-0, I entered the market opposing the scoreline.
Farencvaros scored in the 86th minute, making it 0-1, and as a result, I won the (second) trade.
Sporting v Rosenborg
This was another first-half trade that I lost as it stayed 0-0 at half time. I was surprised as Sporting were pressing for a goal from the start.
One win from 3 first half trades. It's only a small sample size, but I'm not sure about this method yet. I will likely paper trade this for the next 20 or 30 trades, so I don't damage my bank.
Thursday ended with a small loss.
After an awful start, the midweek trading turned out to be profitable. I'm still considering what stake size to use starting in November. I have a week left to come to a decision.
I read a comment received from Mark in my last blog post asking if I will share the odds I enter for my trades. I'll think about this for my future posts, but in general, I trade the second half of the games when odds in the correct score, draw or goals market has reduced due to time decay. Thanks for your comment, Mark.
I started the week at £572.90.
P&L for the week +£23.02
Total balance now sits at £595.92. An ROI of 129% since 1-August-19
"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.