Green up
Hi. I play in the in-running markets. Things happen very quickly and greening-up doesn't always work. You really have to be cool and keep your wits about you, You can get into serious trouble if you get into a panic and started chasing an exit. Because the prices are bouncing all over the place sometimes it can go straight through your position, or worse only take a small portion of the stake leaving money floating about in the market getting up to all kinds of mischief.
It's not all bad though, if you follow some basic guidelines you can exit safely more often than not. It's the greening up for a loss when the market is most likely to run away from you, so here is my advice from my own experience.
The market gets really crazy towards the end of a race so make sure you are getting out before the last furlong at the very least. With this in mind I won't trade horses that have to be held up to come with a last minute challenge. Look for horses that race prominently or lead. Decide in advance where your exit will be and set this up in global settings 'offset'. Greening up is much quicker and likely to be successful if the exit point is pre-set. Also, select 'offset with greening' from the dropdown menu. It saves valuable seconds. Don't be tempted to set a 'stoploss'. It will close you down pretty much immediately because of the volatility. Instead set your acceptable loss mentally, beforehand, and get out at that threshold whatever. Once the price starts to escape you you are in danger of losing your entire stake (or worse if you panic).
It's all a question of discipline. If you stay disciplined and cool in-play trading can be very profitable.
Good fortune.
It's not all bad though, if you follow some basic guidelines you can exit safely more often than not. It's the greening up for a loss when the market is most likely to run away from you, so here is my advice from my own experience.
The market gets really crazy towards the end of a race so make sure you are getting out before the last furlong at the very least. With this in mind I won't trade horses that have to be held up to come with a last minute challenge. Look for horses that race prominently or lead. Decide in advance where your exit will be and set this up in global settings 'offset'. Greening up is much quicker and likely to be successful if the exit point is pre-set. Also, select 'offset with greening' from the dropdown menu. It saves valuable seconds. Don't be tempted to set a 'stoploss'. It will close you down pretty much immediately because of the volatility. Instead set your acceptable loss mentally, beforehand, and get out at that threshold whatever. Once the price starts to escape you you are in danger of losing your entire stake (or worse if you panic).
It's all a question of discipline. If you stay disciplined and cool in-play trading can be very profitable.
Good fortune.