Friday, 18 February 2011

The Last Few Days

Sorry about some of the rubbish you've had to read on here in the last few days, it's been a difficult time with a few companies on my back with some debts I let get a little out of hand. I am back on Betfair now and have 450 in my account, so I'll continue with the updates as previous, and see if I can build it into something more manageable. For the first time in about 3 weeks I have no pressure, so maybe this will help me get back on the road to how I was doing last year.

Things have changed since last year as well, and are a far cry from buying top seats at Flushing Meadows for the night session of the Nadal V Lopez match. Although I never lost most of the money I made, I made some bad errors in not putting any by for when things go pear-shaped. The last week has been difficult with not a penny to my name, and I will make sure I won't find myself in that position again.

Onwards and upwards from here hopefully.

Good luck all!
Posted by at

11 comments:

  1. Didd18 February 2011 at 17:27

    Hi John,
    You've traded successfully before and if you continue to keep your current mindset, it's only a matter of time before your trading successfully again. All the best

    ReplyDelete
  2. John O'Dwyer18 February 2011 at 17:33

    Hopefully, good luck to you as well.

    ReplyDelete
  3. Mark18 February 2011 at 18:47

    Hi John
    I can only echo what Didd said.

    I believe that you will soon look back on this as a minor blip, but a major lesson that we can all learn from.

    I think that the way you have confronted your problems head on shows you have what it takes to succeed.

    Good luck
    Mark

    ReplyDelete
  4. Steve Lewis18 February 2011 at 20:45

    Hi John,

    I know what it's like trying to trade with pressure of money worries hanging over you. Hopefully you can trade with a clear head and get that bank up.

    Take it easy,

    Steve.

    ReplyDelete
  5. Sports Punter19 February 2011 at 08:50

    Good Luck John.

    Good to see you back on an even keel.

    Take Care

    SP

    ReplyDelete
  6. John O'Dwyer19 February 2011 at 09:13

    Thanks all.

    ReplyDelete
  7. Cassini19 February 2011 at 16:05

    To take a quote from Blackadder, I would like to add that "I've got to admire your balls". It's very easy to write or talk about when things are going well, but far from it when things are rough. Most bloggers just stop when things go pear shaped, but you are staring adversity in the face. Quite admirable. £450 is more than enough of a starting bank, in fact if you read some of the blogs out there, it's quite a huge amount, so it's all relative. The risk for you as I see it is that you are used to putting that amount (and more) on one trade, but clearly you need to forget about that for a while. Slow and steady. No all-ins, no fringe-value bets, only bet when you believe your edge is solid. And I hope that £450 is reserved for investing. There's nothing worse than pulling funds out to pay bills. Personal question - are you employed? I ask because, for me, the security of a full-time job allows me the luxury of treating trading as a hobby which takes a lot of the stress away. If I have a bad day, well at least the dogs still get fed! If you're trading to pay debts, I fear for your sanity! Take care John - and keep us posted. I may look you up for a beer (on me) in the summer when I make my annual pilgrimage to Ilfracombe.

    ReplyDelete
  8. John O'Dwyer20 February 2011 at 11:26

    Thanks for the message Cassini,

    You're right, it would not be right to just update things when they are going well. It's only been a difficult couple of weeks as I have not had the funds in my account to change things, and have put myself in big debt because of this. This is my fault as I never put any by for when things went wrong, although I never expected it to get to this. I owe a few people some money including my bank, although the 450 came from selling a few things. Sounds desperate I know, but it's torturous to know that I can make big money on here, yet can't do a thing about it.

    I do this full-time. Last year I did very well at it, but as I say, the last week things have been bad and having no other income has really back-fired. Ilfracombe in a nice place btw. Devon is a nice place to be in the summer.

    All the best, and good luck.

    ReplyDelete
  9. James Managan22 February 2011 at 08:14

    Any chance you could check out my blog setting up a rugby blog. This will be the first week up and running.

    http://rugbytippingblog.blogspot.com/

    And add my blog.

    Thanks

    ReplyDelete
  10. John O'Dwyer22 February 2011 at 09:31

    Ok, done....

    ReplyDelete
  11. Anonymous22 February 2011 at 18:42

    Get a job for a short while John to build up some sort of bank. £450 isn't enough to make it pay and cover the day to day bills especially the way you play. You'll put too much pressure on yourself just to make day to day living expenses and once a bigger bill comes in it'll be boom or bust. Might not be bust for the first few bills but the law of averages mean it'll get you sooner or later.

    Not saying it can't be done as I've done it myself but had the luxury of credit cards and bank loans to bail me out at times.

    ReplyDelete

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