Pre Race Trader

blog for sale

2010-11-10T09:02:00.000-08:00

the blog address is for sale
for the price of 150£
e mail for details

TennisTrades

2010-03-15T09:43:00.000-07:00

Real Madrid vs Lyon 1-1 Full Highlights 10/03/2010 UEFA Champions League

2010-03-14T10:42:00.001-07:00

Real Madrid vs Lyon 1-1 Full Highlights 10/03/2010 UEFA Champions League

2010-03-13T06:36:00.001-08:00

Goal!!!!!!!!!!!!

FC Barcelona vs Getafe 2-1 [06/02/10] All Highlights La Liga BBVA 2010 [HQ] [480p] SKY SPORTS

2010-02-07T22:58:00.000-08:00

Microsoft Office 2010: The Movie Teaser

2010-01-20T09:48:00.000-08:00

AC Milan vs Siena [4-0] All Goals and Highlight [17/01/10]

2010-01-19T07:52:00.001-08:00

Happy Holidays

2009-12-26T15:05:00.000-08:00

Greatest Champions League Goals Ever!

2009-12-09T09:22:00.001-08:00

Soccer Markets

2009-11-19T05:25:00.000-08:00

UEFA Europa League 2009-10 Intro (HD)

2009-11-05T22:01:00.001-08:00

Asus Eee PC 1101HA hands on

2009-11-04T03:12:00.001-08:00

soccer results

2009-10-25T09:31:00.000-07:00

Champions League Result

2009-10-21T11:29:00.000-07:00

soceer trading

2009-10-20T11:47:00.000-07:00

VIX

2009-10-17T10:42:00.000-07:00

VIX is the ticker symbol for the Chicago Board Options Exchange Volatility Index, a popular measure of the implied volatility of S&P 500 index options. A high value corresponds to a more volatile market and therefore more costly options, which can be used to defray risk from this volatility by selling options. Often referred to as the fear index, it represents one measure of the market's expectation of volatility over the next 30 day period.

The VIX is calculated and disseminated in real-time by the Chicago Board Options Exchange. It is a weighted blend of prices for a range of options on the S&P 500 index. The formula uses a kernel-smoothed estimator that takes as inputs the current market prices for all out-of-the-money calls and puts for the front month and second month expirations. The goal is to estimate the implied volatility of the S&P 500 index over the next 30 days.

The VIX is the square root of the par variance swap rate for a 30 day term initiated today. Note that the VIX is the volatility of a variance swap and not that of a volatility swap (volatility being the square root of variance). A variance swap can be perfectly statically replicated through vanilla puts and calls whereas a volatility swap requires dynamic hedging. The VIX is the risk neutral expectation of S&P volatility over the next 30 calendar days. The VIX is quoted on an annualized variance basis.

1993 - The VIX Index was introduced in a paper by Professor Robert E. Whaley of Duke University.

The VIX has replaced the older VXO as the preferred volatility index used by the media.

Yours for £650: The micro pigs

2009-10-12T10:32:00.000-07:00

World Cup Soccer

2009-10-10T18:06:00.000-07:00

September Results

2009-09-30T16:50:00.001-07:00

more fun with football

2009-09-24T02:54:00.001-07:00

Football Fun

2009-09-19T07:09:00.000-07:00

it's good to take breaks from
the markets from time to time

poll results

2009-09-10T09:36:00.000-07:00

readers choose unanimously
Adam Heathcote is the best trader!

congratulations Adam

August Results

2009-09-02T19:28:00.000-07:00

perheps the biggest trader of all times

2009-08-31T00:26:00.000-07:00

Jesse Lauriston Livermore also known as the Boy Plunger, was an early 20th century stock trader. He was famed for making and losing several multi-million dollar fortunes and short selling during the stock market crashes in 1907 and 1929.
Born in Acton, Massachusetts, Jesse Livermore started his trading career at the age of fifteen. He ran away from home with his mother's blessing to escape a life of farming his father wished him to have. He then began his career by posting stock quotes at the Paine Webber brokerage in Boston.
While working, he would write down certain hunches he had about future market prices, which he would check for accuracy later. A friend convinced him to put his first actual money on the market by making a bet at a bucket shop, a type of gambling establishment that took bets on stock prices but did not actually buy or sell the stock.

By the age of fifteen, he had earned profits of over $1000 (which equates to about $20,000 today). In the next several years, he continued betting at the bucket shops. He was eventually banned from most bucket shops for winning too much money from them. He then moved to New York City and devoted his energies towards trading in legitimate markets. This change would lead him to devise a new set of rules to trade the marDuring his lifetime, Livermore gained and lost several multi-million dollar fortunes. Most notably, he was worth $3 million and $100 million after the 1907 and 1929 market crashes, respectively. He subsequently lost both fortunes. Apart from his success as a securities speculator, Livermore left traders a working philosophy for trading securities that emphasizes increasing the size of one's position as it goes in the right direction and cutting losses quickly.
.Livermore sometimes did not follow his own rules strictly. He claimed that his lack of adherence to his own rules was the main reason for his losses after making his 1907 and 1929 fortunes.
The popular book Reminiscences of a Stock Operator, by Edwin Lefevre, reflects many of those lessons. Livermore himself wrote a less widely read book, "How to trade in stocks; the Livermore formula for combining time element and price". It was published in 1940, the same year he committed suicide.
Livermore first became famous after the Panic of 1907, when he short sold the market as it crashed. He noticed conditions where a lack of capital existed to buy stock. Accordingly, he predicted that there would be a sharp drop in prices when many speculators were simultaneously forced to sell by margin calls and a lack of credit. With the lack of capital, there would be no buyers in sight to absorb the sold stock, further driving down prices. After the crash and its aftermath, he was worth $3 million.
He proceeded to lose 90% of that 1907 fortune on a blown cotton trade. He violated many of his key rules; he listened to another person's advice (he preferred working alone) and added to a losing position. He continued losing money in the flat markets from 1908-1912. He was $1 million in debt and declared bankruptcy. He proceeded to regain his fortune and repay his creditors during the World War I bull market and resulting downtrend.
He owned a series of mansions around the world, each fully staffed with servants, a fleet of limousines, and a steel-hulled yacht for trips to Europe. He married Dorothy, a beautiful Ziegfeld Follies showgirl when he was about 40 years old.
Livermore continued to make money in the bull markets of the 1920s. In 1929, he noticed market conditions similar to that of the 1907 market. He began shorting various stocks and adding to his positions and they kept declining in price. When just about everyone in the markets lost money in the Wall Street crash of 1929, Livermore was worth $100 million after his short-selling profits.

another good trader

2009-08-28T12:12:00.000-07:00

John Alfred Paulson is president of Paulson & Co., Inc., a New York-based hedge fund. In 1994, he founded his own hedge fund with $2 million and two employees (himself and an assistant).

Paulson & Co., Inc. had assets under management (as of June 1, 2007) of $12.5 billion (95% from institutions), which leapt to $36 billion as of November 2008 Under his direction, Paulson & Co has capitalized on the problems in the foreclosure and mortgage backed securities (MBS) markets. In 2008 he decided to start a new fund that would capitalize on Wall Street's capital problems by lending money to investment banks and other hedge funds currently feeling the pressure of the more than $345 billion of write downs resulting from under-performing assets linked to the housing market.

John Paulson is not related to former Goldman Sachs CEO and U.S. Treasury Secretary Hank Paulson. A September 26, 2008 Wall Street Journal opinion written by John Paulson suggested an alternative to the Treasury Secretary's plan for stabilizing the markets.

In September 2008, Paulson has bet against four of the five biggest British bank. His positions included a £350m bet against shares in Barclays; £292m against Royal Bank of Scotland; and £260m against Lloyds TSB. He eventually booked a profit of as much as £280m after reducing its short position in RBS in January 2009. Paulson & Co., the hedge fund run by billionaire John Paulson, may have lost out on about 218 million pounds in profit after failing to close a short position in Barclays. On August 12, 2009, Paulson purchased 2 million shares of Goldman Sachs as well as 35 million shares in Regions Financial.

In this year's Forbes ranking of global billionaires, Paulson is number 76 with an estimated $6 billion. He had a net worth of $300 million at the beginning of 2007.

hedge-fund manager John Paulson has been quietly buying shares of troubled banking giant Citigroup Inc. (C 5.25, +0.20, +3.95%) in recent weeks, the New York Post reported Thursday. Paulson has acquired about a 2% stake in Citi.

good traders other than Adam Heathcote

2009-08-26T09:08:00.000-07:00

James Harris "Jim" Simons is a mathematician, academic, trader, and philanthropist.

For over two decades, Simons' Renaissance Technologies' hedge funds, which trade in markets around the world, have employed complex mathematical models to analyze and execute trades—many of them automated. Renaissance uses computer-based models to predict price changes in easily-traded financial instruments. These models are based on analyzing as much data as can be gathered, then looking for non-random movements to make predictions.

In 1982, Simons founded Renaissance Technologies Corporation, a private investment firm based in New York with over $20 billion under management; Simons is CEO, of what is now one of the world's most successful hedge funds. Simons earned an estimated $2.5 billion in 2008, $2.8 billion in 2007, $1.7 billion in 2006, $1.5 billion in 2005, (the largest compensation among hedge fund managers that year) and $670 million in 2004. With an estimated current^[update] net worth of around $5.5 billion, he is ranked by Forbes as the 55th-richest person in America. He was named by the Financial Times in 2006 as the "smartest" billionaire.

Simons lives with his wife in Manhattan and Long Island, and is the father of three.

In 1976, Simons won the American Mathematical Society's Oswald Veblen Prize in Geometry, for work that involved a recasting of the subject of area minimizing multi-dimensional surfaces and characteristic forms..

In 1978, he left academia to run an investment fund that traded in commodities and financial instruments on a discretionary basis.

Renaissance employs many specialists with non-financial backgrounds, including mathematicians, physicists and statisticians. The firm's latest fund, the Renaissance Institutional Equities Fund (RIEF), is designed to handle upwards of $100 billion. RIEF has historically trailed the firm's more well-known Medallion fund, a separate fund that only contains the personal money of the firm's executives

In 2006 Simons was named Financial Engineer of the Year by the International Association of Financial Engineers. In 2007 he was estimated to have personally earned $1.7bn.

In a statement released to shareholders, the fund announced it had sustained losses of up to 7% in the wake of the 2007 Subprime mortgage financial crisis but managed to end the month of August with a positive performance of +0.7%

more results

2009-08-20T08:36:00.000-07:00

climbing the ladder

2009-08-18T08:57:00.000-07:00

slowly improvement felt in every trading aspect.

first race

2009-08-18T04:06:00.000-07:00

have a good session!

evening great result

2009-08-17T11:09:00.001-07:00

daily average with in two races

2009-08-17T06:48:00.000-07:00

it took me 17 races yesterday
and today with in the first two
races i reached the target
and i am out to the park.

today's results

2009-08-16T09:44:00.001-07:00

new trading style tested today
using technical analysis with out
graphs based on some reading
i did on Adam's blog.

one result

2009-08-16T07:37:00.000-07:00

trading today

2009-08-13T06:17:00.000-07:00

have a good session!

today's results

2009-08-08T10:29:00.000-07:00

trading right

2009-08-08T04:30:00.000-07:00

No one can predict what the market will do the next . One can access the available market information and make informed projections. In some cases, there will be many possible price movements the market may make. In other cases, the market almost must move in one direction.

These are the trades that we search out. we prefer to enter let the market move in our direction
and exit. Be aware, however, that the market will do whatever it wants! No market analysis in infallible. if you think it moves side ways stay in a position and give it a few seconds. if it goes against you double your average positive trade it's a clear sign to exit and move ahead.

on course

2009-08-07T08:44:00.000-07:00

a bit of rust

2009-08-06T10:11:00.000-07:00

i was back to trading today
more races than usual and
a pleasing result.

it's really all about maintaining
your capital first and not getting
carried to high losses

take care of your losses early
and profits from positive trades
will add up slowly.

all in all another positive day

nice result

2009-07-27T06:15:00.000-07:00

nice maneuvering on the opening race today
4 times in and out for a very impressive result
more than 4 times my average trade. and over
my regular daily profit in a single race.

today's results

2009-07-26T14:08:00.000-07:00

The 11 seconds Rule

2009-07-25T22:24:00.000-07:00

I enter trades with the expectation that price will move in my direction within1 to 10 seconds.If price doesn’t cooperate within this time period, some aspect of the trade may be wrong.

my approach, if this occurs, is to exit the trade with small profit, no loss or average per trade loss.

The point of this maneuvering is simple - we are protecting our capital. Our first and foremost goal is to protect our capital, period. When we are at a break-even or better position with the trade, we can begin to more actively work the trade for profits.

today results

2009-07-25T09:37:00.001-07:00

week results

2009-07-24T22:30:00.000-07:00

average per race 10 cents

more green

2009-07-23T06:13:00.000-07:00

keep the reds small and the greens will pile up

confidence continues

2009-07-22T09:46:00.000-07:00

another nice win in the opening race
keeps me happy for the day

confidence

2009-07-20T17:51:00.000-07:00

winning trades over 70% at the moment
that keeps changing but stays over 50%

good traders take a loss that is under
200% of a regular positive trade.

calculate your average positive trade
keep your losses reasonable.

opening race

2009-07-20T06:11:00.000-07:00

today's result

2009-07-18T10:37:00.001-07:00

Brüno: Austria Gay TV

2009-07-17T23:03:00.001-07:00

one race

2009-07-15T10:04:00.000-07:00

well i worked late today and i have
the night off i am going to watch
"bruno" no time for trading
so have a nice evening

cheers
trader1

My Favorite Racehorses

2009-07-14T05:49:00.000-07:00

it's not a bad idea to know a thing or two about the animals
that create this exciting trading ground although pre race is
has nothing to do with the racing results.

short trading day

2009-07-13T07:04:00.000-07:00

i keep fresh by trading only a few races

i try to win only a few, and in case it don't
work out, to cut the loss as short as possible.

there is no need to waist time on a
loss when the win rate is very good.

i had an early loss today in the first race
i made the cut at -2 cents and went on
from there. i than made two more mini
trades on the same race and managed
to finish green. all the other races went
well.

today's results

2009-07-12T08:01:00.001-07:00

good day in the markets

2 races

2009-07-06T07:15:00.000-07:00

i traded 2 races today
you can notice how
i traded around 5 min
before the off

cheers

Blag a Million! HORSE TRADING

2009-07-03T22:43:00.001-07:00

2009-06-30T12:09:00.001-07:00

consistent green

2009-06-18T08:46:00.000-07:00

5 races traded
average per race 12 cent
daily profit 61 cents

good luck to you all

trader1

business as usual

2009-06-17T11:24:00.000-07:00

a classic tale

2009-06-16T10:56:00.000-07:00

Ascot high liquidity was not much of help for
me, in fact it was harder to trade with my stakes
being washed away by waves of larger money.

the lesson from today's trading was
you can keep your cool for two weeks
but one loss can drag you to another
and you can lose two weeks work in a
matter of minutes.

i am sure this is no news for most
of you, been there done that.

the question is can i prevent it
can i control my self or end up like
many other trader wannabes

i could not keep cool after losing
6$. if i did, the day would have
ended with profit. i took a gamble
which i would normally not do
and lost much more.

a classic tale.

you wanna be a good trader
you have to be able to take a loss

good luck tomorrow

more consistancy

2009-06-13T07:55:00.000-07:00

trading goes very well
for me at the moment
today i continue to
show consistency
through the session.

10 races traded
average per race 51 cents
through out a long session
which makes me very pleased.

i am not sure how many read
this blog but it really helps me
document my performance
and try and push my self to
get consistent results.

good performance

2009-06-12T08:08:00.000-07:00

keeping performance records which i learned
from reading Adam's blog is a very good thing
to know where you stand at any given moment
after 4 races today i know i am above my last
few days daily average of 1.2$ profit and also
well above my 10 cents average per race.

daily profit 2.3$
average per race 57 cents

since i don't feel so good today
it is a good time to stop the trading
for today. possibly i will join again
later.

evening card

2009-06-11T11:05:00.001-07:00

i came back from the park with
new energy and felt like trading
a few more races on the evening
card to get more experienced.
the consistency is here today.

the liquidity in the evenings is
less good i found it harder to
trade under those conditions.

today's trading

2009-06-11T06:29:00.001-07:00

i traded half day 11 races
allowing me to maintain a high level
of concentration throughout the session.

It's time for a break and i will go out to
the park for some fresh air, It's good to
recharge the batteries!

1.19$ for the day, 11 cents per race on average.

i did not plan on trading today
but a comment from fellow
trader Matt yesterday made
me trade half day.

cheers
trader1

weekly view

2009-06-11T05:49:00.000-07:00

my weekly sheet shows good progress
and a daily average of 1.2$
i traded 78 markets and averaged
10 cents per race.

it makes me very pleased.
i am not sure i can keep this
high average. i hope i can
keep this consistency up.

trader1

all over the place

2009-06-10T09:46:00.000-07:00

after a real good run for a few days
i begin to feel i get nervous and
trading becomes harder.

after reading Adam's latest post
i think i need a day or two to re group
i finished today with the best result
since i started the blog. but i feel it
could have also ended very bad
the consistency was not there.

i will be happy to get comments

traded 16 races plus one mistake
entering a wrong market
isn't that crazy? which is
why i need a break
averaged 27cents per race.

today results

2009-06-09T11:17:00.000-07:00

i am wondering what should be
a healthy ratio between win and loss

last 3 days view

2009-06-08T10:15:00.001-07:00

I averaged 1.24$ a day.
traded 33 races
averaged 12 cents per race.

today's results

2009-06-08T09:10:00.000-07:00

the markets felt bad today
and trading was hard
i traded 6 races and
finished this short day

I averaged 16 cents per race.

another good day

2009-06-07T12:05:00.000-07:00

very pleased
with the results!

i enjoy the trading very
much at the moment
it's now my 3rd month
into the pre race markets.

by the way can any one
name the horse in the
picture?

small fish problems

2009-06-07T00:16:00.000-07:00

as advised to me by fellow traders
i have updated my stake size recently.

it seems the software had a problem
dealing with fractions in stake size
which caused the "green" button
to show false results.

trading with larger round money
i hope will eliminate this problem.

there are still other software
problems i need to deal with at
the moment.

using a stake that is smaller than
betfair minimum with the help of
the software may also cause me
loss .

if i am using the strategy of
"let your profits run"

meaning i close a position with
minimal stake to ensure no loss
and keep most of the profit on a
certain pick. later during the race
i might green with relative high
profits across the field.

those profits are usually higher
than scalping profits.

it seems in order to use a smaller
than minimum stake size the
software has to put on a 1000.0
minimum stake bet and later add
to it a smaller stake at market odds.
if the 1000.0 bet gets matched during
the in-running than i can find my self losing.

i think this problem will be solved when
i will start using larger than minimum stakes

seems like along time from now

i think there is no better way to learn but
to simply pass money through the market
for a few months and get first hand "trading
hours experience" so i will continue to trade
with small money i feel very good with my
progress.

cheers

trader1

long trading day

2009-06-06T12:28:00.000-07:00

11 matches traded today with success
i am pleased with the slow progress in
my trading results and my trading
style is beginning to take shape.

loss is also welcome if i manage to
keep it small which i did today.

good luck with your trading

trader1

last week

2009-06-03T08:35:00.000-07:00

results from last week including today
i enjoy trading at this level at the moment
i try and achieve long term good results

today results

2009-06-02T09:17:00.000-07:00

was not an easy day in the markets
considering it i am happy with the result

3 races today

2009-05-31T09:31:00.000-07:00

still not sure i want to put large money
into those markets. my trading style
goes well after i fixed a few problems.
i will probably need to adjust more but
for now good results.

just one race

2009-05-30T06:05:00.000-07:00

traded one race today

impressive day

2009-05-17T07:57:00.000-07:00

clean sheet

2009-05-16T07:23:00.000-07:00

struggling today

2009-05-15T07:15:00.000-07:00

i was struggling with the markets today
but i closed the losses early enough to
recover during the same trading day
also i stopped after my biggest win of
the day it's always good to leave the
casino at the right time. :-) just like
poker

results

2009-05-14T06:23:00.000-07:00

more good results good progress over all

more good results

2009-05-13T07:20:00.000-07:00

peter webb said
if you manage to show
consistent good results
than all that is left is how
much money you pass
through the markets

i am pleased with the results
but i think at least 3 months
are needed to check results
are consistent

Fairbot goes crazy

2009-05-09T07:42:00.000-07:00

Fairbot went crazy today and while the odds
moved in the right direction the green button
acted more as a red button it happens some
times and so i closed trades and stopped for
the day any one else noticed this?

today's results

2009-05-07T10:31:00.001-07:00

small loss comes but over all good day

today's results

2009-05-07T10:31:00.000-07:00

small loss comes but over all good day

results

2009-05-05T10:07:00.000-07:00

the last race was difficult to trade
and after it i called it a day.
wonder how other traders felt
the market today. since i changed
my trading style in a very serious
way the results are good but when
the next loss will show up it will be
a test to see how it affects the profits
i am still not optimistic about the ratio
between loss and profit.

cheers
trader1

today results

2009-05-04T06:32:00.000-07:00

again good results but the market did not feel
too good so i stopped the day short

more good results

2009-05-03T09:41:00.001-07:00

a few more trades

2009-05-02T10:04:00.000-07:00

back to the drawing board

2009-04-23T08:20:00.000-07:00

there is a problem i can not seem to solve
some times the market turns against
your direction and in a second or so you
are down 20% on your position fast reaction
can't help.

if i use auto stop loss it will cause many
losses in markets were i would win with
a few more seconds waiting cause sometimes
market moves down for a sec and up again
so this can't be my weapon here.

this problem is cause by big sharks out
putting large amounts of money in and
out of the market

making it hard small fish ti trade

so i try somthing else all over again

Day 5

2009-04-20T09:53:00.000-07:00

day 4

2009-04-19T10:27:00.000-07:00

it was a good day in the markets
i did not have to trade all of the
markets becuse i was doing good
start to finish

cheers
trader1

day 3

2009-04-18T12:23:00.000-07:00

i feel better after day 2 and 3 i did not make
the same mistakes again, day 2 ended with
small loss and day 3 with small profit.

how ever i made new mistakes :-)

double clicking on the green caused the 3$
loss today so actually my trading went well
over all i feel good progress.

still not expecting profits, only getting a feel
of the markets and the software.

cheers
trader1

new chair

2009-04-17T05:15:00.000-07:00

I got the new chair i was looking
for this should be good for trading
wish me luck

why i choose pre race trading

2009-04-16T21:40:00.000-07:00

i like the facts:
it is based on supply and demend
it is 7 days a week for 3 hours at
the same time everyday about 20
markets settling one after the other
in 10 minute intervals.

New Chair

2009-04-16T20:37:00.000-07:00

I am hoping to buy my self a new chair
today ahead of the trading day

something like these chairs in the picture
should be good

Day 1

2009-04-16T13:10:00.000-07:00

well it turns out i trade ok but my weak side
was closing positions fast when trade goes
wrong so the first day is negative.

It is clear to see i had a problem closing bad
trades and was hit hard therefore

i hope these lessons i post can be of help
to other beginners out there.

cheers
trader1

challenge begins

2009-04-16T12:44:00.000-07:00

Hello

I am going to deposit some cash
into betfair and start trading the
pre race markets from time to time
I will post my results on the blog.

cheers
trader1