Bit of an idiot

Sorry this weekly update is late I was toot mad with myself last night so I couldn't bring myself to post. I'm sort of happy to say that this week was another profitable one to the tune of £70.78, but I know it could have been a lot better. Plenty of action this week with the Aintree Grand National meet, my main bets over the three days went well but it was silly sidebets like placepots and lucky15s that I shouldn't really have bothered with that set me back a little. Although that wasn't my biggest mistake of the week, oh no that came last night. I'd just won a massive £100 profit from playing with stakes of around £10 on the Standard/Genk football match (late turn round in my favour), after having a good week trading on football and collecting my profit on the Grand National ante-post my Betfair bank was upto £180. I was about to withdraw half (as my plan at the end of each week was to do) but instead for some reason I got involved with The Maters' golf which happened to be in its final round. No joke about it I backed Rory McIlroy who was the favourite at the time about one minute before his tee shot hit a branch and ended up somewhere "even the members haven't been" to quote the commentators. From then on it just went from bad to worse from around 5/2 favourite to about 20/1 within the space of a couple of shots, clever me decided I'll shove a little extra on the price will surely come in. I really should have got out at this point as it was obvious a major choke was on, but at the next hole a brilliant tee shot but then a quite remarkable series of missed putts that even I might have put in. The drift was on and before I knew it he was at the dreaded 1000 price and I'd done my bank rather foolish betting on something I know little about. Could say it was unlucky with my point of entry but it was silly over-staking after the high of winning a good football bet. I seem to never learn my lesson, I'm best at trading football and indifferent at horse-racing trading and anything else I should just avoid. Meanwhile I'm think fixed odds betting only works for me in horse-racing and not football at present. I'm still feeling slightly angry with myself and it's now a new day.

Ouch!

Seems I can talk a good game but when it comes down to the heat of things I make elementary mistakes more in-line with a mug punter. I deliberately restricted my Betfair account so I couldn't make anymore deposits, I'm now over £800 down for the year on my Betfair account without it I would be much better of it seems. I was around £5k down on my Betfair account last year also. My bookmakers account continue to do well, so well that I'm restricted at a number of them. I don't know what else to say other then I'm a major idiot. What makes all that more concerning is that I've been reading an investor book, more about trading stocks but can easily be applied to Betfair. Two of the main "tips" are to specialise in one area i.e. only stick to what you know and secondly is that you should try and limit the loss to your capital at all times. I'm afraid I just totally disregarded these two things in my late night betting antics last night. The loss for the week on Betfair only reads -£40, but it might as well as read -£4,000. For it feels like £4,000 at present, after I worked so hard building the balance up from around £20 to a remarkable £180, but then straight back down to £3 with my idiotic actions. Think I need time away from trading to chill out, feel like taking time away from betting all together but I know my horse racing bets are good, If I'd been running them alone I'd be in profit this year no doubt. So to conclude a profitable week that feels like a massive losing one.