Hello today is my first days trading and I am just attempting simple low risk scalps on th UK Horse racing market before the off. I have had some success so far but also some small losses (Im about even so far) Im just trying to feel out the situatioin really and get used to the software but I am finding it difficult to dodge which way the odds might be moving. I understand that you can never really know for sure and that I am very inexperienced but I was just wondering if there are any fundamental rules of thumb that I am missing? I have watched the BetAngelTV videos and read articles on scalping and i understand the theory of it. I am just struggling to pick the right horse at the right time. Any advice at all would be very welcome!
Thank you
Simple scalping
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
Scalping in all but the strong markets i.e. Gold Cup, Royal Ascot can be tricky. In most midweek and general weekend markets the markets can move a fair amount and this can catch out the new or less experienced trader. I am not saying it's impossible to scalp just that it can be hard.
I suggest looking more at the markets and trying to learn more about the movement of the price.
I suggest looking more at the markets and trying to learn more about the movement of the price.
I know it may sound strange but try scalping using minimum stakes. Don't try and pick a direction and wait to see what happens with your order, don't close out till maybe 30 seconds before the off. You won't lose much but you will learn a lot about the way the market works and how orders fill. You should get a high strike rate but no profit, you can then work on cutting out the big losses.