What I've learned

[ANGELS15]

To compund like that you would have to be using your whole bank each time which as you start to go over £20
would take balls of steel for a newcommer? I mean by week 3 you would be trading over £300 a time?

[glen10]

i agree, compounding always looks good on paper but your soon wagering well outside the comfort zone especially as a newb!!!!!
but depends if only a percentage of bank is used.

[ANGELS15]

Yes and there are bound to be losing trades which wipe out or reduce profits. The annoying ones are where you think you've established the trading range for a horse even made a couple of successful scalps only to find the price suddenly shoots off several ticks leaving your bet unmatched and with little likelyhood of returning forcing you to exit with a loss.

[cybernet69]

Yes and there are bound to be losing trades which wipe out or reduce profits. The annoying ones are where you think you've established the trading range for a horse even made a couple of successful scalps only to find the price suddenly shoots off several ticks leaving your bet unmatched and with little likelyhood of returning forcing you to exit with a loss.

It works if you know what your dong.

[Llosgi]

I take your point about compounding. I set myself a challenge to see what I could achieve in 1 month, reinvesting any gains. I started with £11 and took it from there. I am not suggesting that I would do this as a general strategy for my whole bank

[threedogs]

Good post however I have just seen Adam Todd's video "Advanced coin flip trading strategy" where he shows trading a horse at random without charts with no clue whether price is expected to go up or down and makes an overall profit just by the way he trades it scratching ir taking a small loss and riding the profit till it stops.
Have I missed something here or why are we all watching graphs and looking at form etc
I know you dont need to know all about horse racing to trade it but other people form an opinion on whether the horse is going to come in or drift before they trade it
What do others feel about this ?

[wearthefoxhat]

Good post however I have just seen Adam Todd's video "Advanced coin flip trading strategy" where he shows trading a horse at random without charts with no clue whether price is expected to go up or down and makes an overall profit just by the way he trades it scratching ir taking a small loss and riding the profit till it stops.
Have I missed something here or why are we all watching graphs and looking at form etc
I know you dont need to know all about horse racing to trade it but other people form an opinion on whether the horse is going to come in or drift before they trade it
What do others feel about this ?

I find it best to form an opinion about the race/game before I start.

Plan the trade....trade the plan. (Can't remember where I heard it from, but it rings true for me)