Nice post Koratt, I'm sure I'm not the only one that found it very interesting. That looks like a really nice trading set up you have too.
Well done on the results you posted up, looks like your making great progress to me. The only thing I could be slightly critical would be the size of the £78 and £60 loss, they seem a bit on the large size in relation to the size of your wins. Is this your style, ie lots of smaller wins but one or two biggish losses, can't criticize your overall results for that day of course. So well done once again, I hope you continue to do really well.
Forgot to add, when I have looked at PWs daily results his stats are often similar to yours (his results are usually ten times bigger I know), but if you see say a couple of biggish losses listed, there will be two or three wins that are often twice or three times as big as each of the two losses.
I don't know how he does this, its either he is managing to let his profits run more than you have been doing, or he is managing to cut his losses quicker than you do. Maybe he will add to this thread to give you (and me) some idea.
Today's Horse Racing
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fumanshoe66
- Posts: 23
- Joined: Tue Sep 17, 2013 9:49 pm
Charts are an aid that can be helpful but don't get too bogged down on trading the racing markets solely on them. Everyone has there own style but personally i think you must trade what you see not what way a market should react....
Yes it does, but I don't know if these patterns work in sports trading markets either.ruthlessimon wrote: Hmm, had a quick look back as well. Wondered if anyone has done any research on applying chart patterns used in financial markets to horse racing? That reversal looks like it was a double top.
I tried trading financial markets many years ago, spend countless hours studying technical analysis, did all the chat stuff, indicators, candle stick patterns. You name it I tried it, couldn't get anything to work. I take my hat off to anyone who day trades financial markets successfully I certainly couldn't do it.
I am hoping sports trading markets might be a little bit easier. I think I have read that PW first tried the financial markets but couldn't trade them either, moved to sports trading and the rest is history as they say.
I'm wondering if one advantage sports traders might have over financial traders is that they know the BF book is going to be close to 100%, so if there are two or three fairly short priced horses taking up a big percentage of the book, one or two might act as a leading type indicator for the other one or two.
I've seen some videos posted on YT where this seems to happen some of the time, not always of course, as that would make sports trading a license to print money.
My guess here would be that due to the fact you have limited opportunities to trade the horse racing markets, when you do get a chance you feel you have to try and trade as many races as possible. I suspect a lot of people in a similar situation as you feel under the same pressure to try and trade as much as they can when they get the chance, otherwise it might be several days before they get the next opportunity.Korattt wrote:Bluesky,
Those losses were handicaps which I should've avoided, WHY I even thought of trading them God only knows, appreciate the kind comments, thank you
Working full time and trying to learn to trade is an extremely difficult thing to do, having said that, trading full time and trying to use the profits to pay the bills while your still inexperienced is probably even harder. Its no wonder really that so many people fail at this.
amen - attempting to do just that, whilst at the same time developing tools to smooth the process... as they say, chainsaw juggling!!Bluesky wrote:Korattt wrote:Bluesky,
Working full time and trying to learn to trade is an extremely difficult thing to do, having said that, trading full time and trying to use the profits to pay the bills while your still inexperienced is probably even harder. Its no wonder really that so many people fail at this.
Its not a problem, the disscussion and comments are all good hence why i thought it should have its own thread as im sure thier will be more input to follow but come tomorrow and when a few posts are added on the days racing many may not see this conversation.Korattt wrote:Apologies Dallas,
Didn't mean to go OT & hijack thread
Back to Today's Racing..
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ruthlessimon
- Posts: 2161
- Joined: Wed Mar 23, 2016 3:54 pm
I'd have to disagree there - sorry to keep this discussion going DallasBluesky wrote:
I tried trading financial markets many years ago, spend countless hours studying technical analysis, did all the chat stuff, indicators, candle stick patterns. You name it I tried it, couldn't get anything to work. I take my hat off to anyone who day trades financial markets successfully I certainly couldn't do it.
. But no trader on Betfair (maybe Steve Howe?) goes through the setups and trades they took and why. The BF market is simply too illiquid. Imagine PW setup a signal service. Whenever he entered a trade, you'd see it. The price would crash, with those in early taking the pie. In financials, you are merely a drop in a huge ocean and following successful traders is easy. In fact, that's a brilliant idea! Get successful, start a signal service, get your minions pushing the price for you (risk free trading, the holy grail)! #AdamHeathcote? #controversial
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ruthlessimon
- Posts: 2161
- Joined: Wed Mar 23, 2016 3:54 pm
Prettylittlething just went AWOL 
Thought that thing would never break!
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