I've recently just started trading and joined this forum last night so hello everyone, I've been using a
Method lately where I lay an off form horse ( taken from info
In the racing post) with odds usually anything between 15-40 and scalping pre race should the opportunity arise.
I also let it go in play and green out when I can or because I am watching the race more times than not I leave it as can see my selection isn't threatening but my question is can I right click and put in a stop loss in play should the off form horse be in contention and the odds start dropping and If I do what's the chances of the stop loss being taken?
In play Stop Loss
Are you for real?
You have just mentioned two things that will send shivers down the spine of every trader
1) If you're simply laying a horse to lose, then fine. However, if you are trading the price, then don't let selections go 'In Play'
2) To make matters worse, you want to use 'In Play' stop losses! That will wipe you bank quicker than a woman with expensive tastes
You have just mentioned two things that will send shivers down the spine of every trader
1) If you're simply laying a horse to lose, then fine. However, if you are trading the price, then don't let selections go 'In Play'
2) To make matters worse, you want to use 'In Play' stop losses! That will wipe you bank quicker than a woman with expensive tastes
Maybe I should've explained it better, I'm not trading it in play. I pick my selectionLeTiss 4pm wrote:Are you for real?
You have just mentioned two things that will send shivers down the spine of every trader
1) If you're simply laying a horse to lose, then fine. However, if you are trading the price, then don't let selections go 'In Play'
2) To make matters worse, you want to use 'In Play' stop losses! That will wipe you bank quicker than a woman with expensive tastes
Pre race then lay it a good 30 mins before the off I then take any green profit before
the start should there be an opportunity. I then let the the race begin with the horse layed
and watch as more times than not it's nowhere. I was only wondering if putting in an inplay stop loss at
what I deemed an acceptable loss would be taken due to the odds going crazy?
Just to give you an explanation why, sneddssnedds76 wrote:Cheers for the prompt replies fellas and I kinda guessed
those would be the answers. Back to the drawing board !
In Play will see some momentary gaps in the markets, due to how quickly the prices move during the race.
Example, you layed a horse at odds of 34, and he starts well, so much so his price drops to 16. It only takes a split second where the odds of 16 are taken and the next price behind it is 6. Your stop loss will take that, locking you out for a massive loss, when it fact it was unnecessary, as it's true price reappears within a second or two
Cheers Le Tiss I understand that but I was under the impression if you right mouse clickLeTiss 4pm wrote:Just to give you an explanation why, sneddssnedds76 wrote:Cheers for the prompt replies fellas and I kinda guessed
those would be the answers. Back to the drawing board !
In Play will see some momentary gaps in the markets, due to how quickly the prices move during the race.
Example, you layed a horse at odds of 34, and he starts well, so much so his price drops to 16. It only takes a split second where the odds of 16 are taken and the next price behind it is 6. Your stop loss will take that, locking you out for a massive loss, when it fact it was unnecessary, as it's true price reappears within a second or two
and select your own stop loss then this is the only one that can be taken should the money be there? Apologies if I've got this completely wrong and again I really appreciate your replies.
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iambic_pentameter
- Posts: 450
- Joined: Wed May 18, 2016 1:24 pm
Welcome to the Forum, Snedds.snedds76 wrote:I've recently just started trading and joined this forum last night so hello everyone, I've been using a
Method lately where I lay an off form horse ( taken from info
In the racing post) with odds usually anything between 15-40 and scalping pre race should the opportunity arise.
Some really good advice from Le Tiss and Euler.
Personally, I'd be very wary about laying anything above 3 as your liabilities would be too high. For example:
Let's assume you lay a horse for £10 @ 15 - your liability would be £140 just to win £10.
In the 5 months I've been doing this, I've seen plenty of horses win at prices of 15 (and above)
In the above example, if Betfair went down or you weren't able to close the position, you would then need 14 x £10 wins just to break even on that lay bet.
Reading the RP is useful but if you are going to continue that approach, I'd recommend that you at least watch some replays of your horse in other races - that way you can get a feel for the running style.
Best of luck with it.