Bet Angel - Automation : Considering dedicating some time to pre-off automation. Any thoughts?

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Fuggler136
Posts: 4
Joined: Thu Mar 22, 2018 3:48 pm

Fri Aug 10, 2018 12:32 pm

Hi everyone. Pre-race trading has been my job now for the past 9 months or so and while I'm happy doing it, it's made me a bit lazy. I'm happiest either doing nothing or working my arse off and right now I'm in a sort of middle ground and lacking any motivation (besides paying the bills). All of my trading is price-action based and I often feel like I'm trading the people in the market rather than the horses. I do no statistical research whatsoever so I just rock up to the days markets and trade. A few of the things I do I think could be simplified in to rules based trading. Most of it I have to inject a bit of opinion based on my own market experience but I do believe some of it could probably be automated and still turn over a profit. What I'd like to know is...

How realistic is it to automate trading based purely from your experience of patterns in the market?

Does automated trading require statistical knowledge?

How do you separate automated trading from manual in terms of results? Is it possible to set up more than one account for this purpose? Maybe use BetDaq?

For those of you with successful automated strategies, are your rules often simple or very complex? Most of what I'm thinking of is pretty simple but may need to be filtered/altered for different race types/field sizes etc once I have a decent sample size.

I actually had a million questions but most seem to have vanished from my head. The top and bottom is though that I'm trying to gauge whether or not I can apply my manual trading experience to automated traded or whether I'm looking at a completely different way of thinking.

I'm hoping I can work on the automation side of things outside of my manual trading to give me a bit more to do and hopefully, a bit of extra money and commission turned over.

Cheers!

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CallumPerry
Posts: 204
Joined: Wed Apr 19, 2017 5:12 pm
Location: Wolverhampton

Fri Aug 10, 2018 12:50 pm

If your strategy can be automated then why not?

At least semi automate it first to make your manual work-life easier, run tests of your rules to make sure you've programmed them correctly and accounted for all kinds of events where/when they may trigger in the market. If it is a bit more complex, pay someone to code it for you?

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jimibt
Posts: 1471
Joined: Mon Nov 30, 2015 6:42 pm

Fri Aug 10, 2018 12:58 pm

i've tried automating pre based on my observations also. the advent of Stored Values may well help with this as you really want to know about trading ranges and the effect of increased money entering the market - Stored Values are perfect for this as you can set themup to allow you to examine the min/max LTP and then make decisions based on the money flow once these ranges are being tested.

Although I've not actually seriously undertaken an extensive study on this, i know the likes of simon on here has collated stats for almost every eventuallity, so there is a lot you can do to pre-plan for this type of approach. I'd say go for it as it will also remove any emotional ties to the trade (if you create firm exit rules at the same time).

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