On the verge of giving up

[HappyPunter]

First post here so good luck to you all. LeTiss makes the best point I believe for you. Knowlege is key and maybe your knowlege on horse racing is not as good as it could be to take advantage of the trading on racing. The majority of horses that are injured/off for almost a year, even though dropped in grade will not go off at even money even if the bookies say so.

The top yards with the top jocks with a top horse starting at 1.8 with the bookies and then drifting all afternoon till the off then coming back in. My point is even though advertised that you do not need to know anything about horse racing it is a huge advantage.


Just look at the pattens of prices and the charts etc dont get pulled into the money and being ping ponged between prices. Go in once or twice and have a strat. Dont go in all the time and dont chase losses.

[neeeel]

a quick update for anyone that is interested

Spent the weekend just watching the markets, reading stuff on the net. Also downloaded the book that was recommended, "Trading in the Zone". I found this very useful and has given me a new perspective on my trading.
Also had a good chat with someone who has helped me a lot and I have renewed enthusiasm and belief that I can do it.
I traded some of the markets yesterday with minimum stakes, and actually had fun and enjoyed it, even though I still lost overall, I feel there is an improvement and so am not giving up yet!

[bugrit]

Good on u mate As long as u never give up u will get there!

[TheRiddler]

Hi Riddler,

Based on your previous posts I'm of the opinion its safe to assume that your Trading is based on hard stats/form of a horse/s as opposed to Trading numbers or am I way off the mark?

And if so when do you choose to Lay or Back your selection/s? Is it around Lunch time or x mins before the off before hedging? Do you have a preferred time frame to place your bets during the day?

Any advice would be greatly appreciated.

Thanks

Depends on the runners, numbers, etc. etc. No one strategy fits all. I concentrate on specific races because I know these will be the most profitable and usually the most difficult for the layman and betting market to understand.
I don't really like the combination of hard stats and horses although they are a launch point especially if those stats are used/married with your own stats/understanding of each entry within the market you're analysing. You can make big numbers just cherry picking races and not trawling the available markets each day.
If I've worked out a horse will vastly shorten then I will take positions knowing this fact even if that means backing ante-post. The same in reverse. If I think the market has certain runners incorrectly priced again I will follow suit.
The main thing is that by knowing your way around the market you will already have opened your jaws waiting for others to swim inside.
As traders/punters or a combination of the two we all have one aim and that's to earn money. We are able to do this from the poor judgement of others. The more you know the broader that band of poor judgement becomes for you to milk.

.Guess I'm not the alpha male type, keen to outperform everyone else. I'll leave that to Gordon 'The Riddler' Gekko!

I must confess I had to look this up. I guess I'll have to make an effort to watch the film now. But then again I don't think I'll bother, not with epsom looming large.

[Squirtle]

I had a stormer today, not gloating but just curious if other people did as well. There must be some reason why some do well and not others on these types of days.

I tend to be a swing trader.

[neeeel]

This was my 2nd day back at trading since I posted this thread, and I had a really good day, made 50% profit of the stakes I was using, which were only minimum stakes, so not all of it will be scaleable, but hopefully it shows that I am on the right track. I dont think Ive ever had a day with 50% profits at any stakes before.

[andyfuller]

Good to hear things are going well. Still recording and reviewing?

[floyd]

Depends on the runners, numbers, etc. etc. No one strategy fits all. I concentrate on specific races because I know these will be the most profitable and usually the most difficult for the layman and betting market to understand.
I don't really like the combination of hard stats and horses although they are a launch point especially if those stats are used/married with your own stats/understanding of each entry within the market you're analysing. You can make big numbers just cherry picking races and not trawling the available markets each day.
If I've worked out a horse will vastly shorten then I will take positions knowing this fact even if that means backing ante-post. The same in reverse. If I think the market has certain runners incorrectly priced again I will follow suit.
The main thing is that by knowing your way around the market you will already have opened your jaws waiting for others to swim inside.
As traders/punters or a combination of the two we all have one aim and that's to earn money. We are able to do this from the poor judgement of others. The more you know the broader that band of poor judgement becomes for you to milk.

[/quote]

Thanks for your insightful reply.

Ian