My Arbitrage Trading Log #1
To give a quick background for my trading log entries, I started trading with a small sum of money pulled together by 3 of my friends and myself. $1000 AUD each and we started out with about $2700 USD at the end of february. We placed our first arb on the 1st of March and the first month and a bit we didn't keep very good records. We learnt to do better than that now!
Over the course of the first month and a half, obviously, we had our large learning curve. Now of everyone I have spoken to, I think my friends and I have probably been the worst arb traders ever, because I ahven't heard anyone else have this bad an opening month.
Between march 1st and April 7th we made a total of 27 trades. We had two major losses (one of $250 and one of $330), and most of the rest were minor profits. The final profit/loss of this period was -$422.49 If you ignore the two major losses, we would have made $157.51, but this is the curse of the learning curve. Making mistakes might happen to you too...although as I said, no one else I have spoken to has been as unlucky as we were
The two losses were 1. $250 bet at pinnacle lost after BetAndWin limited my second bet before I could place it. If I had my time again I would have placed the limited bet and found secondary option odds to hedge the remaining difference, but this was like my first arb...so I left it uncovered and paid the ultimate price.
The second loss was made by my friend who managed to back 'under' twice, instead of over and under. Stupid mistake, and I gaurantee it won't happen again. LOL. Obviously the result was over... imagine if the result was Under
I could be telling you all how great we are at trading arbs right now because we made huindreds and hundreds of dollars in our first month!... lol. No. instead we lost both bets and ended $330 out of pocket.
Offsetting these losses were a number of deposit bonuses, re-deposit bonuses and friend referal bonuses. We didn't record any of these at all though, so have no track of how much we got.
The bookmakers used varied. We used a few once or twice, then pulled funds out and moved to others and back and forth as we could and needed to. At most we probably had funds in about 10 bookmakers, but we have since narrowed our bookmakers use. I will report how amny we used as each week comes. In the opening month though we did get large sums of money stuck in Carib Sports and 5Dimes. Carib sports charges a flat $10 fee to withdraw, and we had managed to get over $400 in there for like 2 weeks with no activity. We had to bite the bullet and tkae the $10 fee on withdrawal. We haven't used Carib since simple because we dont want to deal with the withdrawal fee (thoguh they were an alrght bookmaker otherwise). 5Dimes was pretty good, but you have to withdraw money mornings to get it out for free, and we forgot to withdraw one week, so we were stuck with too much money in there for an extra week too... I am jsut saying this so you know that this will happen. Try to organise your bookmakers so that you don't end up winning all of your bets at a bookmaker which will charge large fees to withdraw....
So anyway, that is the background leading into the now time, the more current progress that I will be recording from each week.
We leave the 'opening period' with a total balance of: $2533.52
http://www.sportsarbitrageguide.com
Over the course of the first month and a half, obviously, we had our large learning curve. Now of everyone I have spoken to, I think my friends and I have probably been the worst arb traders ever, because I ahven't heard anyone else have this bad an opening month.
Between march 1st and April 7th we made a total of 27 trades. We had two major losses (one of $250 and one of $330), and most of the rest were minor profits. The final profit/loss of this period was -$422.49 If you ignore the two major losses, we would have made $157.51, but this is the curse of the learning curve. Making mistakes might happen to you too...although as I said, no one else I have spoken to has been as unlucky as we were
The two losses were 1. $250 bet at pinnacle lost after BetAndWin limited my second bet before I could place it. If I had my time again I would have placed the limited bet and found secondary option odds to hedge the remaining difference, but this was like my first arb...so I left it uncovered and paid the ultimate price.
The second loss was made by my friend who managed to back 'under' twice, instead of over and under. Stupid mistake, and I gaurantee it won't happen again. LOL. Obviously the result was over... imagine if the result was Under
I could be telling you all how great we are at trading arbs right now because we made huindreds and hundreds of dollars in our first month!... lol. No. instead we lost both bets and ended $330 out of pocket.Offsetting these losses were a number of deposit bonuses, re-deposit bonuses and friend referal bonuses. We didn't record any of these at all though, so have no track of how much we got.
The bookmakers used varied. We used a few once or twice, then pulled funds out and moved to others and back and forth as we could and needed to. At most we probably had funds in about 10 bookmakers, but we have since narrowed our bookmakers use. I will report how amny we used as each week comes. In the opening month though we did get large sums of money stuck in Carib Sports and 5Dimes. Carib sports charges a flat $10 fee to withdraw, and we had managed to get over $400 in there for like 2 weeks with no activity. We had to bite the bullet and tkae the $10 fee on withdrawal. We haven't used Carib since simple because we dont want to deal with the withdrawal fee (thoguh they were an alrght bookmaker otherwise). 5Dimes was pretty good, but you have to withdraw money mornings to get it out for free, and we forgot to withdraw one week, so we were stuck with too much money in there for an extra week too... I am jsut saying this so you know that this will happen. Try to organise your bookmakers so that you don't end up winning all of your bets at a bookmaker which will charge large fees to withdraw....
So anyway, that is the background leading into the now time, the more current progress that I will be recording from each week.
We leave the 'opening period' with a total balance of: $2533.52
http://www.sportsarbitrageguide.com
posted by Aegist at
2:10 AM
0 Comments:
Post a Comment
<< Home