Trading Horse racing : Discuss Trading Mistakes & receive Feedback

The sport of kings.
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CaerMyrddin
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Joined: Mon Sep 07, 2009 10:47 am

Wed Jun 12, 2013 12:01 pm

Euler wrote:

My closing orders are already in the market shortly after I enter it. Discuss amongst yourself to work out why.
You want to influence the market in a way that improves the chance of getting a match on your opening position?

followthatcamel
Posts: 73
Joined: Thu Apr 16, 2009 12:54 am

Wed Jun 12, 2013 6:06 pm

My guess is that you make them "take SP" in case of betfair crash.

Regards
Doug

LinusP
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Wed Jun 12, 2013 6:08 pm

I assumed it was more to do with having a clear entry and exit point, so that the trade doesn't become a bet. Peter you mentioned this earlier this week and I have been trying to put into practise :D

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L.o.S
Posts: 166
Joined: Sun Apr 28, 2013 4:05 pm

Thu Jun 13, 2013 2:36 pm

I have a clear cut one for today already, runner in a race 20 mins ago steamed in the last 5 mins from 3.25 to 2.4. I had backed at 3.25 at the highest and layed at 2.5, and yet I lost £1.78.

I seem to be opposing trends far too much and I'm not sure why I've started doing this, it's absolutely stupid and not a positive strategy. It's a wee bit like a voice in my head saying 'the trend has went this far, no point joining now'. When in fact I repeatedly joined at 3.05, 2.86 and 2.7.

Not much of a question but any different perspectives of the real problem would be great. For starters I think I might be overcomplicating things, there's a trend, go with it?

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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Thu Jun 13, 2013 4:14 pm

L.o.S wrote:I have a clear cut one for today already, runner in a race 20 mins ago steamed in the last 5 mins from 3.25 to 2.4. I had backed at 3.25 at the highest and layed at 2.5, and yet I lost £1.78.

I seem to be opposing trends far too much and I'm not sure why I've started doing this, it's absolutely stupid and not a positive strategy. It's a wee bit like a voice in my head saying 'the trend has went this far, no point joining now'. When in fact I repeatedly joined at 3.05, 2.86 and 2.7.

Not much of a question but any different perspectives of the real problem would be great. For starters I think I might be overcomplicating things, there's a trend, go with it?
2 of my biggest rules:
1) Have a reason to enter the market
2) Have an exit strategy

There is nothing wrong with opposing the trend, but you need to know why you are opposing it. Reasons like "it can't steam forever" just don't cut it.

The questions I want to answers to are:
1) Is the momentum slowing
2) What is it's price in relation to the live show
3) What is happening with other runners. Are 1 or more coming in.
4) If so do they have momentum
5) How tight is the book percentage
6) What is happening visually on course
7) How close to the start of the race is it
8) Where is it in the trading range
9) How big is the trading range

etc etc

It really isn't a case of stick in your money and hope.

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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Thu Jun 13, 2013 4:14 pm

L.o.S wrote:I have a clear cut one for today already, runner in a race 20 mins ago steamed in the last 5 mins from 3.25 to 2.4. I had backed at 3.25 at the highest and layed at 2.5, and yet I lost £1.78.

I seem to be opposing trends far too much and I'm not sure why I've started doing this, it's absolutely stupid and not a positive strategy. It's a wee bit like a voice in my head saying 'the trend has went this far, no point joining now'. When in fact I repeatedly joined at 3.05, 2.86 and 2.7.

Not much of a question but any different perspectives of the real problem would be great. For starters I think I might be overcomplicating things, there's a trend, go with it?
2 of my biggest rules:
1) Have a reason to enter the market
2) Have an exit strategy

There is nothing wrong with opposing the trend, but you need to know why you are opposing it. Reasons like "it can't steam forever" just don't cut it.

The questions I want to answers to are:
1) Is the momentum slowing
2) What is it's price in relation to the live show
3) What is happening with other runners. Are 1 or more coming in.
4) If so do they have momentum
5) How tight is the book percentage
6) What is happening visually on course
7) How close to the start of the race is it
8) Where is it in the trading range
9) How big is the trading range

etc etc

It really isn't a case of stick in your money and hope.

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L.o.S
Posts: 166
Joined: Sun Apr 28, 2013 4:05 pm

Thu Jun 13, 2013 4:58 pm

Cheers Mugs, I'll do my best to take it all on board. Something I'm really struggling with is losses; I always cut just as things are coming back, but if I let them run they seem to run forever. I get the feeling if I stop changing my mind on the market I'll do a bit better, am I on the right track?

LLHoward
Posts: 3
Joined: Thu Jun 13, 2013 9:52 am

Thu Jun 13, 2013 5:21 pm

Hi mates,
I am using BA Pro from a week; After whatched on youtube the " Win whatever the result " applied to a horce racing I noticed that you can win if you place a lay order at odd of 5.3 and after a few seconds lay at the odd of 5.5 for example ( using the reverse function ).

Now, think about the next goal market ( soccer ); If you lay the underdog, then its odds will surely increase.

So do you think can I use the same strategy i see in the video? ( https://www.youtube.com/watch?v=-K9oyHSFkME )

Thanks,

Luca

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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Thu Jun 13, 2013 5:29 pm

L.o.S wrote:Cheers Mugs, I'll do my best to take it all on board. Something I'm really struggling with is losses; I always cut just as things are coming back, but if I let them run they seem to run forever. I get the feeling if I stop changing my mind on the market I'll do a bit better, am I on the right track?
Have you heard that old business saying. "You make all your profit at the price you buy, not what you sell at"? This applies here to a certain extent. The position you open at will decide if you make any profit.

If you enter at the right place you will have a "built in" buffer if it goes wrong. That is one of the reasons I use progressive staking. I take a position, then add to it as the market moves in my favour. The ebb and flow of a market (or noise) as someone gave a great description to is something you need to gauge. This is a key skill and not something easily taught. Have a look at my stuff about book percentages and reading the market, it may help you get a small understanding of this. MG

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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Thu Jun 13, 2013 5:32 pm

LLHoward wrote:Hi mates,
I am using BA Pro from a week; After whatched on youtube the " Win whatever the result " applied to a horce racing I noticed that you can win if you place a lay order at odd of 5.3 and after a few seconds lay at the odd of 5.5 for example ( using the reverse function ).

Now, think about the next goal market ( soccer ); If you lay the underdog, then its odds will surely increase.

So do you think can I use the same strategy i see in the video? ( https://www.youtube.com/watch?v=-K9oyHSFkME )

Thanks,

Luca
Hi Luca,
This is a bad idea and not necessarily correct. However, this will work in markets that have a time decay characteristic like under 2.5 or correct score. The danger in scalping (the term for this type of trading) is if a goal is scored you will almost certainly take a big loss. There are much easier ways to make money in football betting. I am sure some of the Soccer boys will help you here.

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