More exit trades when things go wrong?

[paspuggie48]

Hi BetAngel gurus

I have developed many small profit, frequent high strike horse racing systems, with my philosophy being "If you had £1000 in a bank account, how much interest would you earn? Therefore, always look for small profits and in the long term one will make more than 1%" (or whatever it is one can get from a bank).

This is "gambling" so have been interested in BetAngel for a long time to help me reduce risk. After many years of being a member I've finally got round to buying the Pro version and I LOVE it !! Wish I'd done it along time ago !!...So, scalping is my aim and is aligned to my philosophies.

I've had a couple of months in "practice mode" but it doesn't beat doing it live and learning the hard way, so have had a couple of weeks with £2 stakes scalping ! I've had good and bad days, which is what I expected. Some days I may make between £1.00-£7.00 profit but some days I may lose more. I guess in time it evens out as I get better, as long as I make a profit...but the future looks bright

I've watched a tonne of Peter's YouTube videos (he makes it look so easy, but of course he will after 20 years experience), I also have the Academy courses to get through but are there any videos per se that show how to reduce lateral damage when things go wrong or should I say how to exit a trade without too much damage etc? Then again I guess it's all down to experience and setting rules or criteria " when 'n' amount is reached, then get out?

Any advice?

[Tuco]

...the more you do, the better you will get - nothing beats experience!

[westbamtrading]

I did give up on Horse Racing a few months ago, but that was dabbling with in-play trading and laying, but found that I was blowing up too often. Then I started to change my approach, and I've been highly successful.

For me ... 91% of the trade needs to be done before or after the Race Day! Once ... I was spending 8 hours a day sitting in front of the screen. Now, I'm at the stage where I identify my trades based on criteria I've set, I put my order in, then I go watch YouTube, play 8-Ball or watch the latest film release with bad shaky cam quality on 123movies or putlocker.... checking in sporadically with my trade until race time, where I close/hedge out.

I also have to say that I've cut down on the amount of trades I do on a daily basis. So I've ditch looking for scalps, in favour of swing trade opportunities. Most times they work out, but nobody has 100%. But I'm finding it highly profitable.

I have to add, most of my trades are outside the realm of Horse Racing, and again, for me, there are far easier opportunities out there than scalping Horse Racing!

But again I can't stress enough, 91% of my trades happens when I've shut down BetAngel!!!

All the best

Francis Hunt does a better job of describing what needs to be done.

How much time do you spend trading and analyzing the markets? - https://www.youtube.com/watch?v=f_C3A0kEZmA

Whole Playlist. I suggest you watch it. It's helped me immensely!

https://www.youtube.com/watch?v=jM_fx-J ... a0CV5_QHW-

Again, all the best

[paspuggie48]

Excellent, thank you. The Sniper videos were very interesting

Small steps for now m'thinks and all part of the learning curve. I actually don't mind staring at my screen as I am fascinated by it all, watching prices go up and down, seeing an outsider being backed right in...and all that stuff ! I'd rather watch the ladder than the TV ha ha !!

I sound autistic almost but it's my hobby and love doing it. All the swing trades, chasing a steamer and all that will come in time the more I understand how it all works. In fact I noticed a WOM holding up a horses price at 2.80 (ish) last night and was very confident that if it broke through 2.80 it would nose dive. Once it broke that price I put in a trade and it went down to 2.48...the more I learn and notice these events then it will help me in the long run, then I can look at pre-race analysis and leave it to do it on it's own

All good stuff !