Today's Horse Racing

[Golfer]

I have observed exact amounts being matched on both sides of the book - I pulled these pictures off Youtube

116.JPG

21.JPG

[Euler]

Looks like a software error TBH

[steven1976]

This is exactly what I'm referring to when I say perfect amounts arrive. It's as though an order has gone in and a change of mind has happened and therefore the opposing bet happens without having time to change stakes. If I clicked my own bet on the opposite side it would just cancel. There are certain numbers that this happen a lot from what I see. 116 is one of them.

Peter, I've sent you an email and maybe you could offer some advice as to what I'm seeing and what I find as frustrating.

Steve

[Zenyatta]

Jeff, I think we've been over this. Fixed stops are fast track to the poor-house, to use stop-losses well I think you need to be monitoring the position manually. This is not suited for my purposes, since I'm looking for an automated system. The fixed stops are easily exploited and its a disaster to use them in an automated system.

There are alternative forms of risk management that are much better - for example, making multiple bets over a period of time and varying your stakes depending on how well you are doing - its just a shame I didn't think of these things much sooner.

Of course the market is manipulated, because trading is a combat sport. And I think its obvious who is responsible - just ask yourself who the biggest players are

[Iron]

Jeff, I think we've been over this. Fixed stops are fast track to the poor-house, to use stop-losses well I think you need to be monitoring the position manually.

I'm not arguing against monitoring a position manually. What I'm saying is that you need to prevent the market moving too far away from your position, whether you use a stoploss or some other exit criteria (such as WOM).

If you simply rely on mean reversion to kick in at some point, you'll get mauled by the market when it just carries on trending in a particular direction.

Let say's you back at 4.0. What are your exit criteria? Do you bail when the market hits 4.4? How about 4.8? 5.2? 6.0? Or do you just sit back and hope that the market will eventually turn around?

Jeff

[hgodden]

I think that the whole 'stop loss' debate can be satisfied by just having a place in mind where you would take a loss (depending on what happens and your skill and anticipation of the market) and taking it manually rather than using the automated function.

I've never heard of any pro pre race horse racing trader using stop loss in the final few minutes before a race (for the reasons already outlined) but at the same time obviously you need to know when to bail.

[Iron]

I think that the whole 'stop loss' debate can be satisfied by just having a place in mind where you would take a loss (depending on what happens and your skill and anticipation of the market) and taking it manually rather than using the automated function.

I agree.

When I say 'stoploss', I don't necessarily mean an automated stoploss. I'm just talking about having a clear exit plan in place, i.e. 'if this happens, I'm out'.

Jeff

[PeterLe]

Of course the market is manipulated, because trading is a combat sport. And I think its obvious who is responsible - just ask yourself who the biggest players are

I dont think you will ever know who the biggest players are..and at the end of the day does it matter? The markets are constantly changing and you have to move with them or get left behind.
There are always opportunities.
I know you were talking about pre race but In play is manipulated too, much more so that even six months ago.
Look at this chart, laying at 2's with an offset and then greening up on the rebound, there are lots of these every day!
I have had to change (dramatically) from what I was doing only last month (Still working on it)..its like looking for new antibiotics, just when you have a solution, it is redundant very soon afterwards, you always have to be one step in front..

[LinusP]

Whats the point in having all these races if there is only 3-5 horses in most of them?

[Euler]

I know it's pathetic isn't it?

[tweebie1999]

I believe it would be better if some race courses closed and there was less racing but better quality fields. The economy won't support enough race horse owners to fill the amount of races on offer. Maybe in better economic times there are more owners but it is expensive to own a race horse and the prize money isn't very good on most days.

[Euler]

I bet Manfred Man didn't realise in the 60's they had the predictive power to work out today's field sizes

http://www.youtube.com/watch?v=Ez15gors38c

[PeterLe]

ha ha! If you think this is bad wait till the winter months! It feels like a slog at the moment
I've been working on something new this last week or so..Wouldn't it be great if this was possible every race!
Im just too nervous to try it in live mode!
Regards
Peter

[steven1976]

Don't be soft Peter. Get stuck in! Nigel said your mrs can have a discount, if you send me her member code and mention her comments on the forum about "Silver by Mail" being her favourite website.

So your quids in already! haha

[PeterLe]

I wouldn't let my Mrs near the forum; she still thinks it gambling!