I attempted a trade on a horse at a very short price which then fell the second after I'd backed it before I could get a chance to hedge it. Obviously this can and will happen but I was already exposed in that race due to the poor performance of the first horse I'd tried to trade on and I should have just let the original loss ride - even though it would have broken my then rule to do so. That's one of the rules I'm changing... I have to be willing to accept medium sized losses to cut the risk of huge losses even if it means fewer wins.ShaunWhite wrote: ↑Sun Apr 15, 2018 11:14 pmIt's obviously a high strike rate strategy and that usually goes hand in hand with larger losses. If you can stop the big ones then all well and good but you still have a positive trend.
What was the thing that happened that you didn't expect? Technical failure? Or a genuinely very unusual event?
How long does it take to judge whether a system is working?
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- ShaunWhite
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Perhaps the strategy isn't suitable for situations with a high degree of jeopardy, like fences, or sprints or amateur riders. Or maybe that's what's driving your gains? It's so easy to just say weed out the losers, but you really have to mind you don't throw the baby out with the bath water.FrogThimble wrote: ↑Mon Apr 16, 2018 2:52 pmI attempted a trade on a horse....... which then fell the second
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All these things are possible. Today I'm playing all of the UK and Irish races regardless of distance or format. One day won't give me much insight but it's certainly possible I've been choosing some of the wrong races and missing some of the ones I ought to have played.ShaunWhite wrote: ↑Mon Apr 16, 2018 3:09 pm
Perhaps the strategy isn't suitable for situations with a high degree of jeopardy, like fences, or sprints or amateur riders. Or maybe that's what's driving your gains? It's so easy to just say weed out the losers, but you really have to mind you don't throw the baby out with the bath water.
- ShaunWhite
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I once heard the Sage of Hook say that it's not enough to know that something is working in case A but not in case B, you also need to understand why it's working. Or maybe I got that from a fortune cookie, I can't remember.
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I'm not doing too well today in terms of net results. Across the first 20 races my bank is down to 90.7% on the start of the day.ShaunWhite wrote: ↑Mon Apr 16, 2018 4:22 pm
I once heard the Sage of Hook say that it's not enough to know that something is working in case A but not in case B, you also need to understand why it's working. Or maybe I got that from a fortune cookie, I can't remember.
However... if I'd only played the races of 10 furlongs or longer my bank would be at 102.8% of the start of the day.
On the 12 races of 10 furlongs or greater I've won on 11/12 with an average 23p profit
On the 8 races of less than 10 furlongs I've won on just 2/6 with an average loss of -£1.63
Very small sample but I can see why it's happening that way and it's enough to persuade me to give the short races a miss.
- ShaunWhite
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Test, refine, repeat ad nauseum.FrogThimble wrote: ↑Mon Apr 16, 2018 5:46 pmAcross the first 20 races my bank is down to 90.7% on the start of the day.
Very small sample but I can see why it's happening that way and it's enough to persuade me to give the short races a miss.
Tiny, tiny, tiny stakes. I'd have my liability at about 0.01% of my R&D bank for any one loser.
10% in an afternoon is going to bust you before you find anything, but I think you're realising that.
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No, it's not based on any historical stats. It was (or is) based purely on the mathematics. I understands maths rather more than I understand horses, to be honest. There is race selection but, again, that's on mathematical grounds too.
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I've taken the last 6 days off in order to think through and refine my strategy. I've come back today to begin again with my new rules in place and a really tiny experimental bank to see if I really can do this before I play with bigger money.ShaunWhite wrote: ↑Mon Apr 16, 2018 6:31 pm
Tiny, tiny, tiny stakes. I'd have my liability at about 0.01% of my R&D bank for any one loser.
10% in an afternoon is going to bust you before you find anything, but I think you're realising that.
The things I've concluded in my time off are:
1) The need for a stricter escape safety Servant that will cut my strike rate but also cut the size of my losses on the bad trades.
2) Forget about Irish races altogether - for some reason which I can't work out they seem to defy the mathematics of my strategy in a crazy way. So it's just UK races from now on. I might be totally wrong on this but I'll not lose many chances by swerving them, I suspect.
3) Be more selective in which races I try to trade on. I now have a new mathematical rule for that which prevents me trading on horses that are either side of a specific price range.
4) I was wrong about short races being a problem as such... it was other factors at play in them which made me think they were a problem.
5) Increase stake size at the start of each day only rather than at the start of each race (Effect being that during any one day each race should see me staking a slightly smaller percentage of my bank before reverting to my default percentage to begin the next day).
So on my first day back, with this new more conservative approach, my rules only allowed me to trade on 8 of today's races. My old rules would have seen me attempt 26 trades today... So these refinements will seriously limit my activities but, hopefully, not my overall profit if I am basically right... Though with sitting out so many races I am a bit concerned about the boredom factor and breaking of rhythm.
Anyway, here is today's results:
Wincanton 2:15pm: +£0.27
Wincanton 3:20pm: +£0.10
Market Rasen 3:30pm: +£0.09
Market Rasen 4:00pm +£0.09
Stratford 4:10pm +£0.09
Wincanton 4:25pm +£0.25
Market Rasen 4:35pm -£0.02
Wincanton 5:30pm +£0.09
I will update this thread each day in order to keep myself honest and within my rules.
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- ruthlessimon
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Thought you might be interested in this Frog (following strategies all created with 1mth of data)
The following image is a pre-off strategy - with 10 variations - each variation is an extra tick require to enter when the criteria are met. (i.e. 1 = criteria met & 1 tick extra, 2 = criteria met & 2 ticks extra etc etc)
What's interesting is how similar my initial strategy looks to yours - & how a solid looking methodology quickly degrades when small changes are made - hence a big query as to whether the initial strat was even an edge - or I'm just proving certain pre-off markets are inherently mean-reverting
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That's really interesting. I'm hoping my changes will improve my strategy but it's really early days. The first go round fell apart at around 100 trades and I'm not even a quarter of the way there on my refined version. It'll take me a long time to find out given that my new rules vastly reduce the number of races I can play.ruthlessimon wrote: ↑Mon Apr 23, 2018 3:47 pm
What's interesting is how similar my initial strategy looks to yours - & how a solid looking methodology quickly degrades when small changes are made - hence a big query as to whether the initial strat was even an edge - or I'm just proving certain pre-off markets are inherently mean-reverting
I daren't play pre-off markets though - it strikes me that those are for the really clever and brave people.
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Day 2:
15 of today's UK horse races met my rules. I had a pretty decent day except for the final race - but even that wasn't a disaster compared to what would have happened under my previous rules. I managed to get out without any crisis other than the downer of ending the day on a low point.
So I'm up to 23 trades now and the chart is as such:
15 of today's UK horse races met my rules. I had a pretty decent day except for the final race - but even that wasn't a disaster compared to what would have happened under my previous rules. I managed to get out without any crisis other than the downer of ending the day on a low point.
So I'm up to 23 trades now and the chart is as such:
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- MemphisFlash
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my bot seems to be heading in the right direction
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That's pretty impressive, MemphisFlash. I hope I can get mine to that point too.
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Day 3:
20 trades bringing my total up to 43 trades so far. Overall it was a mildly profitable day. I recovered from the loss at the end of the previous day but also ended today on a bad trade too.
Strike rate for today: 75% (15/20)
Strike rate overall: 79% (34/43)
20 trades bringing my total up to 43 trades so far. Overall it was a mildly profitable day. I recovered from the loss at the end of the previous day but also ended today on a bad trade too.
Strike rate for today: 75% (15/20)
Strike rate overall: 79% (34/43)
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