Last night I came across a few you tube vids of a guy showing how to trade in-play. He made it look very easy by simply placing a back bet on a favourite then working out the stake for a 15% profit and placing that as a lay bet. When the race went in play, after a few seconds the lay bet was matched and he was greened up.
There was no mention of a stop loss or what to do if the lay bet isn't matched so it made me think maybe this type of trading has so many wins, the odd loss is a tiny percentage.
Does anyone trade like this, and if so, what happens if the lay bet isn't matched?
Maybe trading this way requires a good understanding of horss and form in order to select the favourite in the first place?
In play trading
A) Did he post any videos when the lay bet didn't get matched?
B) Did he give any indication as to what he does when the bet fails - does he just stomach the loss, or go chasing it?
We could all post green trades that get the novices excited, but what separates good traders from average ones, is what they do when their screen is red
B) Did he give any indication as to what he does when the bet fails - does he just stomach the loss, or go chasing it?
We could all post green trades that get the novices excited, but what separates good traders from average ones, is what they do when their screen is red
Hi
I do this strategy sometimes when I am busy or at work. I have automation rules set up working on about 20% profit but with a stop loss at 50%.
Only use on certain types of races I have noticed give a good strike rate of getting the green up matched. Seems to work better on Jumps as well. I put this down to the longer running times, less volatility at the start?
Monitor races to see when fav's odds keep static & improve as race progresses.
I find on average about 65 to 70% strike rate in the races I use.
Regards
Alan
I do this strategy sometimes when I am busy or at work. I have automation rules set up working on about 20% profit but with a stop loss at 50%.
Only use on certain types of races I have noticed give a good strike rate of getting the green up matched. Seems to work better on Jumps as well. I put this down to the longer running times, less volatility at the start?
Monitor races to see when fav's odds keep static & improve as race progresses.
I find on average about 65 to 70% strike rate in the races I use.
Regards
Alan
LeTiss 4pm wrote:A) Did he post any videos when the lay bet didn't get matched?
B) Did he give any indication as to what he does when the bet fails - does he just stomach the loss, or go chasing it?
We could all post green trades that get the novices excited, but what separates good traders from average ones, is what they do when their screen is red
That's a good point LeTiss, there was no video or even a mention of it not getting matched...but there was a mention of a twitter feed to subscribe to!
That's a good strike rate Trader Al. I will check the price movement of favourites during a race as you suggest...although I wouldn't know beforehand which favourite would be a good selection to back in the first place!Trader Al wrote: Monitor races to see when fav's odds keep static & improve as race progresses.
I find on average about 65 to 70% strike rate in the races I use.
perhaps; possibly better to be more circumspect- as la tiss mentions, if there are no vids of him redding when a trade goes against him or just goes wrong then, you would be better to question why he posted the vid in the first place.redtra wrote: the guy in the videos clearly had a great knowledge of horses and form so knew which ones would do well in play.
good point,thanks to75ne, it does make me wonder. All the replies have a similar theme of caution so that's how I will look at this and paper trade to see if it does or doesn't work.to75ne wrote: perhaps; possibly better to be more circumspect- as la tiss mentions, if there are no vids of him redding when a trade goes against him or just goes wrong then, you would be better to question why he posted the vid in the first place.
That's a good strike rate Trader Al. I will check the price movement of favourites during a race as you suggest...although I wouldn't know beforehand which favourite would be a good selection to back in the first place!
As Peter often says, that's the benefit of keeping good records.
As a starter look as odds on fav's
Regards
Alan
Don't want to be too cynical does he really have a great knowledge of horses? As LeTiss said, he may just have been very selective. If I wanted to look good to others (why?) then I could show some cracking trades that my systems have made. But I certainly wouldn't show the 17:15 @ Haydock last month where I placed £300 on 7 horses and lost every penny (there were, ah, emm, 8 runners. cough).redtra wrote:Yes I agree, the guy in the videos clearly had a great knowledge of horses and form so knew which ones would do well in play.