My Journey

[Terrier089]

Good morning all.

I have been dipping my toe in the Betfair waters for a couple of years now, but have only really started to get serious with it over the last few months. I read the forum regularly and have considered starting this thread multiple times, I am inexperienced compared to most on here and am simply looking for advice.

I am going to be trading the Horse Racing markets, but my trading plan and strategies beyond that are open for debate. I want to use a fully automated strategy, not because I think it's a way to sit back, do nothing and earn easy money, but because I have tried both manaul and automated trading and so far my results lean far more positively towards automated. The main reason for this is simply a flaw in my own character/personality, I tilt and end up making stupid decisions when something goes wrong! I make fairly consistent profit using a couple of bots but the profits are small (we are talking a few quid on a decent day)

So where am I at currently? I have a fully functional data scraper for horse racing markets, which captures all form data for each races daily. I use BetAngel to capture snapshots of best back/lay/ltp every 5 seconds from 60 minutes out for each race on a daily basis. Then I try to marry these to find any correlation between the two.

What I really want to know initially is, do you think I am on the right track? Or do you think this method is a waste of time? As I said I have managed to form a couple of strategies that make small profit on a fairly consistent basis but haven't tried to scale these up yet.

I will use this thread as a journal with the hope of getting some advice from some of you.

[ShaunWhite]

I want to use a fully automated strategy, not because I think it's a way to sit back, do nothing and earn easy money,

So where am I at currently? I have a fully functional data scraper for horse racing markets, which captures all form data for each races daily. I use BetAngel to capture snapshots of best back/lay/ltp every 5 seconds from 60 minutes out for each race on a daily basis. Then I try to marry these to find any correlation between the two.

Hi. There's nothing wrong with wanting a passive income. and personality does come into it, not just the tilting etc but also when you prefer to work. Being at a screen most afternoons isn't the freedom many are looking for. With auto you can work when it suits you.

There's as many methods as there are people so with that brief description I don't see anything inherently wrong..... Some people just trade price action and others like you are using the fundamentals to price up the race and then monitor the market to try and get some value. But you can't have enough data, you don't know what you'll want to look at next year so collect anything and everything.