Cash or Crash?

The trading blog read only by very nice people!

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    RobbieChicago (from Swindon, not Chicago) is a man of many talents. Known for his excellent risottos and tasty Shepherd's Pies, he is also great with children and spectacular in bed (assuming he's being marked on his sleeping ability). Clearly unable to operate in his shadow, his employers of nine years made him redundant from his position in a large and respected company based in the City. Stung by this unexpected rejection, and vowing to "show those bastards", RobbieChicago has turned his attention to trading sports risk on the Betfair markets, and penning the most entertaining and informative blog within the field. At time of writing the blog is going considerably better than the trading, but an almost impossibly arrogant assumption of greatness means that our hero is certain he will succeed.

    RobbieChicago loves Frank Zappa, Columbo and throwing frisbees. He dislikes baked beans.

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It’s just like riding a bike!

Posted by robbiechicago on March 8, 2010

Trading seems to be just like riding a bike:  You never forget how to do it.


Actually, the good news is that I didn’t select this picture to illustrate a wobbly and knee-grazing return to trading, I chose it solely because all good blogs should have a picture of a child falling off a bike.  Now there’s a challenge for the rest of you!

I expect you’ll all be wondering a) where I’ve been, b) why stopped trading, c) why I’m back and d) what my plans are.  Well…

a) I’ve been right here, not doing much at all, I’m afraid to say.
b) I stopped because I was sort of offered a job which I was very keen to pursue, and once that seed had been sown I felt no enthusiasm for trading which had become rather stressful.  Inevitably, after the initial approach, the potential job seemed to fizzle away and I was left wondering if it was going to happen or not.  After a few weeks I began to forget about it, assuming that it wasn’t going to happen.  I decided that I’d go back to work anyway.
c) I’m back because the potential job is now definitely off the table.  And without going into it, I was messed around royaly by the company involved.  Grr.  Of course, that doesn’t entirely explain why I’ve not found myself something else work-wise, as planned.  Well, this leads me on to…
d) … the fact is, my plans have changed again, or at least I am mulling over new plans, plans that involve going back to university.  I am seriously tempted to embark on a career of study and, perhaps, lecturing, in the fascinating and never-ending field of Theology (a fact which has stunned my friends and family given that I am a committed atheist!).  Right now I cannot afford to go to uni, and I have been racking my poor brains trying to figure out how to fund several years of study until I can get to the stage when it becomes a profession.  Hence my return to trading.  Perhaps if I pick up where I left off I’ll be able to finally find that consistency that might lead to a small but reliable income.  Sheesh, I must be stupid…

So, today was my first days trading since, ohh, 2009!  Blimey, I didn’t realise it had been that long.  Obviously I dipped my toe gently into the choppy waters so as not to dampen my spirits too soon, and all in all it was rather nice to be back.  In fact, I ended up notching up a perfect strike rate!  I have seen that others have found success with a tightly disciplined, conservative approach where building up small but regular gains is the key to long term success.  I need to keep this in mind and STICK TO IT in order to actually make this work.  I enjoyed today and was pleased with how it went, but remember all too clearly that there are days when things go as expected and days when they don’t, so I’ll not be relaxing just yet.

I’m glad to be back amongst friends!  Now I just have to remember how my spreadsheet works..!


3 Responses to “It’s just like riding a bike!”

  1. Firedave said

    Best of luck Rob, keep your chin up and it will work out. The start small, gradually increasing stakes is what I am trying and didn’t have a great day today but will be ready and trying again tomorrow. Don’t let the bad times get you down.

    Great spreadsheet by the way, I still use it everyday – looks like you’ve hit quite a significant milestone; £250,000 turnover?!

  2. Mets said

    Welcome back old bean! You and that horrifically complicated looking spreadsheet of yours 😀

  3. robbiechicago said

    Dave, I didn’t realise I’d sent you a copy of the spreadsheet – glad it’s proved to be useful. Not sure how I sent that but didn’t see your blog… unless I did but in the meantime the change of design has caught me out! As for the quarter-mill turnover, yes, that was thanks mainly to my charging off and using £50 stakes after a couple of months trading. That’s also what has done for my dreadful P/L! But hey ho, we live and learn. It’ll be a while before I’m turning over 5 figure sums in a day again. But when I do, this time it’ll be with positive results!

    Mets – how could I stay away?! The spreadsheet’s awesome, would you like a copy? 😉

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