Wednesday 17 February 2010

Record loss

Daily P&L -£90.71

Horse Racing -£14.24
Football £1.83
Bot Error -£78.30

Mind is not clear enough to write now so will update tomorrow. Once again after changes to bot program suffered big loss

So far I have lost -£70, +£180, -£500, -£70, -£40 and now -£78 to Bot errors but this is the worst so far because

1) I was watching
2) It wasn't really a programming error but I was running two bots from 2 pcs using betting assistant and also manually interfering with trades and the whole thing got confused. About 3 minutes to the end of a race I manually closed all position (I thought) and went of to do some DIY before the next race. 10 minutes later I saw my betfair balance was 163 instead of about 240. I was so shocked I initially thought someone had hacked into my account

Throughout the day I was constantly messing about manually exiting trades. At 15 loss I implemented stop loss, promptly won the next two and started trading full stakes and lost the next two

If I had let my bot run I would have been down £5 for the day

I am nearly £1k down to Bot errors and wonder if/when I will overcome this. I guess the very expensive lesson is weekly reviews not daily. Also I just have to have faith in the system.

Making decisions during the trading session has to stop

No more tweaks to the bot until March. I will just let it run at 50% stakes no stop loss.

Funny thing all my versions of my bot if I had let them run undisturbed would see me up for the month. As it is I have given away all my profits and really wasted my time

I have been home all week and all I have done is trade and program/backtest the bot

Tomorrow will be a complete break from bot analysing and coding. In the evening I will trade the Fulham and Roma games if I have nothing better to do

Still believe I can end the month up but now will be depending on matched betting

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