Wednesday, 10 August 2011

The Betdaq Jinx

The first two days of this week epitomised exactly where I am with my trading right now. Whilst Monday showed the potential that is there when everything comes together as it should do, Tuesday showed just why that potential is not being realised. The first day of Roger's Cup action could not have gone much better; 7 games traded, 5 wins, 1 loss and 1 scratch. £135 profit made it one of my best days of the year. I was brimming with optimism and pride. How quickly things can change.

On Tuesday, I decided to start trading on Betdaq. I mentioned how I'd switched half my bank from BetUnfair a few weeks ago. Unfortunately, I managed to lose the entire 50% on The Daq in the space of a couple of days, such was my level of trading at the time. I hadn't been able to refill it till this week. So I fired up Betdaq Angel for the first time, to see if it would offer me more than Daqbot, which I'd used previously. What should happen on my very first trade? Didn't realise that the back and lay sides were reversed and accidentally layed Richard Gasquet! I quickly redded-up but there was no way of getting back into a winning position, as the Frenchman trained to 1.01 against Florian Mayer. The fact that this would have given me a nice solid green magnified my mistake and I was left in a seething mass of rage. I didn't know who to be angriest at - BetUnfair for making me move, Betdaq Angel for putting the back side to the left of their ladders or The Geek for not creating a Betdaq version of The Toy. In the end, I discarded all those options and just berated myself for not testing out Angel enough beforehand.

For those of you who have only ever used The Toy to trade with, I urge you to try out some of the other products out there, just to see how lucky you are to have The Toy for free. Little things that you take for granted, (such as being able to hover the cursur over prices to see potential profit, seeing prices flash as money gets taken, being able to slimline the ladder and move it around separately from the rest of the product) really become a pain the ass when they are not available on these inferior free API products. My trading just does not feel as intuitive or fluid without The Toy.

That said, I cannot blame my tools for the dreadful couple of hours of trading that followed. I traded 4 more games, losing 1 and scratching 2 but even the game I profited from was fortunate. I could easily have lost all 4 and I'm talking BIG losses too. I completely lost my head for the Murray v Anderson match and ended up with one of those banes of my life, the full-stake loss. I don't know what on earth I was thinking going anywhere near Andy Murray the way he was playing. Well actually, I do know what I was thinking - "stick it all on the scruffy Scot, he's bound to come back against the lanky fool that is Kevin Anderson and I'll more than make up for that Gasquet aberration". It was chasing, pure and simple, and over what? A 10% loss! But that in a nutshell, is my main problem - I cannot let daft mistakes lie. When I know that it was 100% avoidable, the loss gets right under my skin.

I was fuming now. The following 3 games were a mangled mess of straight bets and speculative trades done without any adherence to my rules, taking bad prices, short-cutting my entry points and ignoring exit points. I was fortunate that all 3 games turned back in my favour when it looked as though I might lose my entire stake. I called it a night knowing that I was lucky not to have my entire bank wiped out. And all this over one tiny error on Betdaq Angel.

I'm starting to think that Betdaq is jinxed for me, as unbelievably, I have NEVER won any money on any tennis trade I've placed at the purple place! So I'm rather ashamed to say that I'm only able to use BetUnfair now, as I still have a full bank there. I am refusing to post up any screenshots from there though, (as you may have noticed from the absence of P&Ls recently), as this somehow makes me feel better about having to use BetUnfair for all my activity right now! Anyway, back tomorrow, hopefully the red mist will have cleared by then.............

4 comments:

  1. Hi really intresting read.
    We've all been there kicking ourselves for stupid mistakes. As long as you understand your mistakes which you obviously do, you can retify them quickly.

    I've added a link on my blog for you http://thebetplan.com/blog/
    A link back would be greatly received and appreciated.

    Thanks in advance.
    Harry

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  2. betdaq a recipe for disaster......transferred a 1/3 of my bank there, lost more in the last 2 weeks than in the last 12 months.....premium or no premium I think i prefer the certainty of liquidity and the use of the TOY .....good luck

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  3. I understand how you feel but lack of liquidity was not the issue for me for the games I traded and unless you are using very large stakes, it shouldn't be for anyone - the money is there, certainly in all the televised games.

    Trading without the Toy is a definite issue but it takes time to get used to any new API product. Once I'm able to refill my bank on the Daq, I will be back, just need to practice a bit more before going in with large amounts. You can't blame Betdaq for all your losses, I certainly don't. You can certainly blame BetUnfair for the 20-60% losses you will end up incurring.

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  4. it's the pros running away from Betfair, very few sharks to nick a few quid off over at Betdaq, no matter what your size.... The game evolves once again..

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