I am fairly new to pre race trading on the exchanges, I love betting/gambling and after stumbling across Caan Berry I bought his video pack and purchased Geeks Toy and after studying a lot of markets I have started to give it a try. I am improving a lot recently and making profits although I realise I have a long, long way to go before I feel I have mastered it.
One question I'd be interested to get some thoughts on from people more experienced than myself is do you tend to stick to trading the favourite or do you trade any horse in the field if you see that there is a move taking place?
Caan Berry mentioned in his course that he only trades the favourite and I am starting to understand why, it seems a lot easier to get an idea of how the favourite's odds is going to move, whereas you can end up in a lot of trouble if you open a trade on a horse which is an outsider, it seems susceptible to either a market move on one of the favourites or a sudden drift itself can leave you in a lot of trouble.
I am just curious whether the more you understand and master the markets whether trading outsiders can be successful or is it a bit of a minefield?
Do you primarily trade the favourite?
To my understanding there is supply and demand on every runner without it prices would not move, only thing I factor in on other runners is liquidity meaning is there enough to get a trade through. So if liquidity is there and above criteria why not trade other runners.
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ShaunWhite
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It can if you don't know about liabity staking. You wouldn't have the same stake on a 2.0 horse and a 200.0 horse so moves aren't any better or worse wherever they happen.
Forget "opening" and "closing", you see a move you bet, you review and repeat, building or reducing positions taking some profit or reducing liability as you go. You'll have multiple backs and lays in no particular order and then hedge before the end if there's anything to hedge. One in /one out is over simplistic.
People often just trade the favourite because there's more money available, and they've only got one pair of eyes.
Thank you. It’s appreciated.ShaunWhite wrote: ↑Fri Aug 25, 2023 11:39 amIt can if you don't know about liabity staking. You wouldn't have the same stake on a 2.0 horse and a 200.0 horse so moves aren't any better or worse wherever they happen.
Forget "opening" and "closing", you see a move you bet, you review and repeat, building or reducing positions taking some profit or reducing liability as you go. You'll have multiple backs and lays in no particular order and then hedge before the end if there's anything to hedge. One in /one out is over simplistic.
People often just trade the favourite because there's more money available, and they've only got one pair of eyes.
Generally speaking, they are just pointing out stuff you will discover given enough time.
Lots of people are in the industry to part you with your cash and couldn't care less from that point. Those are the real tossers. On this forum you have battle-scarred vetrans of many years who have had to learn things the hard way. Which is why they say the things they do.
Eventually you will discover why they said them. It can be hard and seem like they are taking the mick, but they have all been there are done it and are actually trying to help. Even though it may not appear so on first impressions.
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arbitrage16
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ShaunWhite
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That's such a positive comment Peter.Euler wrote: ↑Fri Aug 25, 2023 6:55 pmGenerally speaking, they are just pointing out stuff you will discover given enough time.
Lots of people are in the industry to part you with your cash and couldn't care less from that point. Those are the real tossers. On this forum you have battle-scarred vetrans of many years who have had to learn things the hard way. Which is why they say the things they do.
Eventually you will discover why they said them. It can be hard and seem like they are taking the mick, but they have all been there are done it and are actually trying to help. Even though it may not appear so on first impressions.
I only know of two places where you're likely to get decent information and frankly until you've got used to them, both can seem quite prickly at first. But they're both well worth putting your big boy pants on and not be too sensitive about it. It's no different really to walking into an unfamiliar pub (if people remember 'pubs'), it takes a while to get used to it and to work out who's OK and who's a wanker.
Agree 100%, when I go into a strange pub first thing I do is have a scout around to see if the things you heard about it are true, sometimes it is healthier for a quick exit before your position goes against youShaunWhite wrote: ↑Fri Aug 25, 2023 8:38 pmThat's such a positive comment Peter.Euler wrote: ↑Fri Aug 25, 2023 6:55 pmGenerally speaking, they are just pointing out stuff you will discover given enough time.
Lots of people are in the industry to part you with your cash and couldn't care less from that point. Those are the real tossers. On this forum you have battle-scarred vetrans of many years who have had to learn things the hard way. Which is why they say the things they do.
Eventually you will discover why they said them. It can be hard and seem like they are taking the mick, but they have all been there are done it and are actually trying to help. Even though it may not appear so on first impressions.
I only know of two places where you're likely to get decent information and frankly until you've got used to them, both can seem quite prickly at first. But they're both well worth putting your big boy pants on and not be too sensitive about it. It's no different really to walking into an unfamiliar pub (if people remember 'pubs'), it takes a while to get used to it and to work out who's OK and who's a wanker.
OK - here are my fair minded comments
Here are my thoughts more generally viewtopic.php?p=265873#p265873
You chose the wrong software and the wrong mentor - in my opinion.Stavros wrote: ↑Fri Aug 25, 2023 9:02 amI am fairly new to pre race trading on the exchanges, I love betting/gambling and after stumbling across Caan Berry I bought his video pack and purchased Geeks Toy and after studying a lot of markets I have started to give it a try. I am improving a lot recently and making profits although I realise I have a long, long way to go before I feel I have mastered it.
I look at the entire market and not just the favourite.
One man's meat is another man's poison.Stavros wrote: ↑Fri Aug 25, 2023 9:02 amCaan Berry mentioned in his course that he only trades the favourite and I am starting to understand why, it seems a lot easier to get an idea of how the favourite's odds is going to move, whereas you can end up in a lot of trouble if you open a trade on a horse which is an outsider, it seems susceptible to either a market move on one of the favourites or a sudden drift itself can leave you in a lot of trouble.
There is more than one way to skin a cat. Sometimes doing the opposite to the herd can be successful. And it is ok to start with a basic idea, then you need to test, tweak, test, tweak .... Rather than start with someone else's idea - perhaps start with your own idea and iterate on that idea - becasue when you start with your own idea you have a much better chance of understanding it. When you start with someone else's idea, you might never understand it.
Here are my thoughts more generally viewtopic.php?p=265873#p265873
Dear Stavros,
What do you expect?
You start off this thread talking about purchasing the software of Bet Angel's rival, plus lining the pocket of another trader who has been absolute twat about Peter on social media!
You don't sound like someone who I'd like to help anyway
Regards
Tosser