Hi guys,
I’ve been reading up on the theory of trading and want to start putting theory into practice.
Is there a best type of race to start with?
Thanks
Best types of race to learn on
I'd suggest picking a strategy, deploying it in every market (using practice mode) & then working out which market type suits that strategy... slowly chucking aside the ones it doesn't work in. This will then narrow down market types for other strategies. Make the most of practice mode but dont forget that if you stay in practice mode for too long your account may be suspended.
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ShaunWhite
- Posts: 10525
- Joined: Sat Sep 03, 2016 3:42 am
What races will be best for you depends on what trading style you adopt, could be the feature races, could be the weakest rubbish on the card. As a rule of thumb the bigger the race the less jumpy the prices should be (exceptions alway apply of course) and that might be better for you initially as you'll have slightly longer to absorb everything that's going on.
Watch everything but don't feel pressured to get involved with everything. If you don't know what you should do then sit on your hands and just watch it. Making nothing on a race is always better than making a loss. There's over 10,000 races in the UK and Ireland this year, so there's more than enough to trade without doing them all; and that should help you put losses into perspective too, even a terrible day will just be a small blip on a very big chart by the end of the year so try not to let it rattle you.
Watch everything but don't feel pressured to get involved with everything. If you don't know what you should do then sit on your hands and just watch it. Making nothing on a race is always better than making a loss. There's over 10,000 races in the UK and Ireland this year, so there's more than enough to trade without doing them all; and that should help you put losses into perspective too, even a terrible day will just be a small blip on a very big chart by the end of the year so try not to let it rattle you.
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ShaunWhite
- Posts: 10525
- Joined: Sat Sep 03, 2016 3:42 am
There's certainly more opportunity to do that than anything else so you should get plenty of practice. Just be strict about taking your losses, if a market goes the wrong way, get out and you can always get back on as/if it comes back. There's no need to ride it all the way to a big old loss.
Practice mode is great for figuring out all the BA features and what buttons do but don't leave it too long before you start using minimum stakes. Real money is real trading and even if you're not that good a session shouldn't cost you more than a couple of quid..... Providing you stop your losses and never never let your trade go in-play to try to gamble your way out of a loss.
It's going to take a while to crack it so try to keep it cheap enough to last until you do. When you've done your pocket money for the day, that's a good time to do some reading or watch some videos rather than doing something to try and get it back. Even a biggish loss won't feel so bad after a few minutes away from your screen, but an even bigger loss caused by chasing will still be stinging the next day. And then all you'll be able to think about is that, you won't take in what you should be thinking about instead, and the whole vicious cycle will continue. Avoid that mental trap and hopefully you'll get more pleasure than pain out of the experience even if the profits take a while to arrive.
Hi Rob
Reading can be too abstract, hopefully you've seen some clips of how it looks like in practice.
I'd probably say races with strong favorites are a good starting point, their lower price makes up most of the book so you can observe how they sort of control the whole market with their behavior.
Actually, this video explains in detail how to build a starting strategy and which one is maybe the best one to start from (looking for steaming favorites), so have a look if you haven't already : https://www.youtube.com/watch?v=laJGJ6ZYXfo&t=
Good luck.
I don't think there is any best race to start. Just jump in on minimal stakes. You will lose some money but nothing teaches quicker. Learning how to limit losses/protect your bank is most of the battle.
Start with setting up some saved setting profiles in Bet Angel. Don't use the default settings. They're fine for football but not for horse racing. More ladders. More graphs. Extra detail. See the academy videos.
As to best markets to start:
- keep an eye on Total matched so far, you want this as big as possible
- initially avoid first (people are just getting set up) and last race (the bumper) at a track
- evening all weather tracks can be volatile and should be treated as separate group to afternoon tracks
- In-play and pre-off need to be treated as separate markets. They are different beasts requiring different setups and mentalities.
- Use live stream pictures, it makes it easier
- use twitter. eg BHAStewards post track and runner change
- The day of the week matters weekends tend to have a lot more money.
Just make notes on every market as you go and you slowly build a picture.
Admittedly I lost my first £100 bank doing it this way but I did learn so take my advise with a pinch of salt.
Start with setting up some saved setting profiles in Bet Angel. Don't use the default settings. They're fine for football but not for horse racing. More ladders. More graphs. Extra detail. See the academy videos.
As to best markets to start:
- keep an eye on Total matched so far, you want this as big as possible
- initially avoid first (people are just getting set up) and last race (the bumper) at a track
- evening all weather tracks can be volatile and should be treated as separate group to afternoon tracks
- In-play and pre-off need to be treated as separate markets. They are different beasts requiring different setups and mentalities.
- Use live stream pictures, it makes it easier
- use twitter. eg BHAStewards post track and runner change
- The day of the week matters weekends tend to have a lot more money.
Just make notes on every market as you go and you slowly build a picture.
Admittedly I lost my first £100 bank doing it this way but I did learn so take my advise with a pinch of salt.