strategy 1 scalping - I have had a go at scalping and I am pretty rubbish at it. I start to do ok. I am using £2 clicks and I get to being up a whloe pound and I just keep going and end up with a minus. I think I don't know when I should be stopping. I just seem to think I need to trade the race till its starts, part of me knows that I don't, the other part keeps clicking and then when the price starts to move in one direction quickly I am left feeling dazed and confused
I have now had a look at strategy number 2 - back to lay. How can you go wrong with this! well I can tell you. I am looking for a fast short race, looking at the pace card and picking a fast horse and I thought I was doing ok, and I am still trying to work this out.
what a way to go. I wanted to make a few quid and I am losing, I have lost a total of £50 and I made a big boob on 2 races costing me around £35 as I forgot to press keep or I pressed keep when I didn't mean to.
I am enjoying the challenge, and I am determined to master this!! I have a £200 budget and I am hoping that I may move out of £2 once I have reclaimed my outgoings!
I am not sure if I need to more basic info. I do find Peter brilliant but he often talks about stuff too much and loses me
any advice?
not improving
Hi there
Maybe check out this thread, plenty of advice there and it's been going on for a while : viewtopic.php?f=5&t=21616
In a nutshell that market is not too suited for scalping, it's been years since I effectively scalped and it changed a bit, but maybe try doing it earlier when market is slower (before previous race finishes) rather than the last few minutes, even if you're really good it can still be challenging to scalp, unless there's a lot of volume like on bigger races. That's why people mostly prefer swing trading approaches for everyday racing.
And be careful around the inplay market unless you know exactly what you're doing, it's very fast so little mistakes or missclicks can be costly and blow right through your trading budget. Best not to get any lay to back ideas
Maybe check out this thread, plenty of advice there and it's been going on for a while : viewtopic.php?f=5&t=21616
In a nutshell that market is not too suited for scalping, it's been years since I effectively scalped and it changed a bit, but maybe try doing it earlier when market is slower (before previous race finishes) rather than the last few minutes, even if you're really good it can still be challenging to scalp, unless there's a lot of volume like on bigger races. That's why people mostly prefer swing trading approaches for everyday racing.
And be careful around the inplay market unless you know exactly what you're doing, it's very fast so little mistakes or missclicks can be costly and blow right through your trading budget. Best not to get any lay to back ideas
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Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
Best advice I can give you is use minimum stakes. If you lose money using £2 stakes then you're going to lose money user bigger stakes.
I've heard all sorts or reasons why people don't want to use minimum stakes when starting out. They usually go something like... It's not worth while using stakes so small or I lose focus unless there's REAL money on the line etc...
Better to lose focus than half your bank
Good luck
I've heard all sorts or reasons why people don't want to use minimum stakes when starting out. They usually go something like... It's not worth while using stakes so small or I lose focus unless there's REAL money on the line etc...
Better to lose focus than half your bank
Good luck
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MemphisFlash
- Posts: 2341
- Joined: Fri May 16, 2014 10:12 pm
If you have a bank of £200 and already worrying about it, my advice would be give up as losing £50 is small fry and your clearly not good at losses. your already talking about chasing losses.
You will lose a lot more than £200 before you get anywhere near being confidant in what your doing.
Call it quits now, your not suited to it.
You will lose a lot more than £200 before you get anywhere near being confidant in what your doing.
Call it quits now, your not suited to it.
As usual, words of encouragement from MF.MemphisFlash wrote: ↑Tue Jan 26, 2021 6:27 pmIf you have a bank of £200 and already worrying about it, my advice would be give up as losing £50 is small fry and your clearly not good at losses. your already talking about chasing losses.
You will lose a lot more than £200 before you get anywhere near being confidant in what your doing.
Call it quits now, your not suited to it.
I don't think the issue is the £50 lost but the title of this thread. Unless I've missed it in a short post I didn't read anything about chasing losses?
it reads like your quite new
just keep at it, enjoy reading, watching, testing.
for me the easiest way is to change one aspect of a strategy, try to determine if it works better or worse and then then try to come up with a logical reason why that could be
then you might be able to transfer that to another strategy, like you might find your too hectic on the scalping, maybe you got the same problem on the in running back to lay, chasing the price rather than letting it come to you more etc
try to find answers for general questions that would make for a broader approach
like
what are characteristics of a good match? one would be for example there is money behind you at time of match or that most recent bets have been matched at worse prices. then ask yourselves in what situations would i be able to combine most of those characteristics and give it a test
what likely identifies casual money you should oppose? why?
in what situations is it generally better to back than lay?
just keep at it, enjoy reading, watching, testing.
for me the easiest way is to change one aspect of a strategy, try to determine if it works better or worse and then then try to come up with a logical reason why that could be
then you might be able to transfer that to another strategy, like you might find your too hectic on the scalping, maybe you got the same problem on the in running back to lay, chasing the price rather than letting it come to you more etc
try to find answers for general questions that would make for a broader approach
like
what are characteristics of a good match? one would be for example there is money behind you at time of match or that most recent bets have been matched at worse prices. then ask yourselves in what situations would i be able to combine most of those characteristics and give it a test
what likely identifies casual money you should oppose? why?
in what situations is it generally better to back than lay?
reclaiming is chase lingo, like he needs to get back whats his
just relax dont talk about budgets and try to learn
My interpretation of that is getting back to where you were, not chasing losses. Every time I lose I expect to win it back. You're only chasing if you're raising stakes or placing bets you wouldn't have done otherwise.
I think what I’m trying to say is, is that when something seems to work, I’m not sure what it was. I am Trying Lay to back. It seems like a good straightforward strategy.
I choose short race where the pace is quick and the horses who like front will be out front. Odds shorten. I’ve looked at the course to see what the going is like and a look at how the horse ran previously.
I’m placing in the last 5 mins,
Laying at 20 ticks - this is a bit of where I’m unsure. Keep in running. Green up
I’ve chosen a short odd and longish in the race. Just to see how things work. I’ve noticed really long odds don’t come down unless it’s going on and still upfront.
Is there something wrong with this?
I’d like to talk through what I’m doing but don’t want to be too demanding and boring!!
I choose short race where the pace is quick and the horses who like front will be out front. Odds shorten. I’ve looked at the course to see what the going is like and a look at how the horse ran previously.
I’m placing in the last 5 mins,
Laying at 20 ticks - this is a bit of where I’m unsure. Keep in running. Green up
I’ve chosen a short odd and longish in the race. Just to see how things work. I’ve noticed really long odds don’t come down unless it’s going on and still upfront.
Is there something wrong with this?
I’d like to talk through what I’m doing but don’t want to be too demanding and boring!!
I'm no expert, as I've been saying in a Greyhound thread of late. But after several years at this game I can assure you the markets never cease to surprise.
This is my point really. This is such a nuanced game, you really have to invest the time, and a lot of it. You have to develop a sixth sense almost, and I confess it still alludes me mostly.
An A, B and C, strategy that gives a consistent edge seems like the Holy Grail, yet even the most well thought-out strategies require market knowledge and a sound depth and understanding of the market movements. Even then, the most random things happen 'out of the blue'. What to do?
For my part I am still learning the hard way, as many here have also done. It most certainly is a hard school with plenty of knock-backs and trip wires round many a corner, but nothing substitutes those ladder hours and your desire to overcome will dictate the outcome ultimately.
But my oh my, yes indeed those banks will disappear like confetti through your fingers, so cherish the learning.
As a wise (and vastly wealthy) man once said "Failure cannot live with Persistence" ...he says with fingers crossed
D
This is my point really. This is such a nuanced game, you really have to invest the time, and a lot of it. You have to develop a sixth sense almost, and I confess it still alludes me mostly.
An A, B and C, strategy that gives a consistent edge seems like the Holy Grail, yet even the most well thought-out strategies require market knowledge and a sound depth and understanding of the market movements. Even then, the most random things happen 'out of the blue'. What to do?
For my part I am still learning the hard way, as many here have also done. It most certainly is a hard school with plenty of knock-backs and trip wires round many a corner, but nothing substitutes those ladder hours and your desire to overcome will dictate the outcome ultimately.
But my oh my, yes indeed those banks will disappear like confetti through your fingers, so cherish the learning.
As a wise (and vastly wealthy) man once said "Failure cannot live with Persistence" ...he says with fingers crossed
D
My advice is that Rome wasn't built in a day.
When I began, I began as a full-time trader with no other source of income - no excuses I was going to make betting/trading/gambling work.
I learnt some valuable lessons in my first full year and also suffered my biggest losses. It didn't put me off as I knew that if it was easy everyone would be doing it and winning.
Whatever you decide to do, good luck to you Sir!
When I began, I began as a full-time trader with no other source of income - no excuses I was going to make betting/trading/gambling work.
I learnt some valuable lessons in my first full year and also suffered my biggest losses. It didn't put me off as I knew that if it was easy everyone would be doing it and winning.
Whatever you decide to do, good luck to you Sir!
A winning market doesn't mean a strategy is working, you can place random bets/trades and get a few winners.millsmum wrote: ↑Tue Jan 26, 2021 7:51 pmI think what I’m trying to say is, is that when something seems to work, I’m not sure what it was. I am Trying Lay to back. It seems like a good straightforward strategy.
I choose short race where the pace is quick and the horses who like front will be out front. Odds shorten. I’ve looked at the course to see what the going is like and a look at how the horse ran previously.
I’m placing in the last 5 mins,
Laying at 20 ticks - this is a bit of where I’m unsure. Keep in running. Green up
I’ve chosen a short odd and longish in the race. Just to see how things work. I’ve noticed really long odds don’t come down unless it’s going on and still upfront.
Is there something wrong with this?
I’d like to talk through what I’m doing but don’t want to be too demanding and boring!!
I used to be a profitable punter, then I switched to cold pre-off trading. I've never tried in-running trading but would have thought good knowledge of horses and form would be an advantage. A sole front runner in a field can be advantaged by a soft lead whereas two or three front runners can cut each other's throats and set the race up for an off the pace horse, resulting in one of the front runners switching tactics and stepping back.
You didn't say exactly what you're looking for in the going or how the horse ran previously but a deep insight into how the race unfolds would help. If you're new to trading it might be worth trying your hand at a variety of sports to get an indication of what you may do best at. Good luck.
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MAGTRADEUK
- Posts: 161
- Joined: Sun May 10, 2020 12:55 pm
coming to the same conclusion, but for a different reason.
Have been at this since June when racing restarted, watched all the videos etc, at a stage where I am win a bit lose a bit, nothing drastic either way, the only problem is that while I am sat there trading pre off, I am really not enjoying this at all........When I used to punt on a Saturday it was just for a bit of enjoyment, either football or nags, it was money to lose and if I won it was a bonus, while this can be done given time and effort I am just wondering if this is for me.
Have been at this since June when racing restarted, watched all the videos etc, at a stage where I am win a bit lose a bit, nothing drastic either way, the only problem is that while I am sat there trading pre off, I am really not enjoying this at all........When I used to punt on a Saturday it was just for a bit of enjoyment, either football or nags, it was money to lose and if I won it was a bonus, while this can be done given time and effort I am just wondering if this is for me.