Evening racing all year round?

[xitian]

Could well be, Andy. I'm also not sure how statistically significant the difference is. Will have to see if this Sept repeats the trend or not! This was kinda why I was curious how other people's P&L varies through the year too.

[spreadbetting]

I find the same thing xitian, always think they'll be a big drop in profits for the winter but never seems to be the case. I've put it down to the fact I pick up the pace in the winter and even though there's less races and hours I just work that little bit more efficiently and harder.

I've been doing this for quite a long time and my pnl in almost wagelike on a monthly basis. I think I've kind of got jaded by it all and become a bit like some long term employee who puts in just enough effort when it's need to avoid being sacked

[iambic_pentameter]

As a newcomer to trading on horses, this is really interesting stuff to read.

Slightly off topic, but before I joined this forum, I'd wrongly believed that the holy grail of racing was making £10 per race on every race per day so, to read about what is possible with experience and application, is very inspiring.

[xitian]

Well you're already doing pretty well if you can consistently make £10 per race averaged over every single race. With around 11,000 races a year, you'd be grossing over £100k a year.

It's an achievable target, but don't expect it to be easy. As many experienced traders advise - attempting to trade every single race isn't necessarily the best strategy.

Having said the above, there's definitely quite a high ceiling on what a good trader can achieve. And if you're into automation then you can also disconnect your profits from the amount of time you spend working on it.

Personally, I've been quite pleased that I've managed to keep scaling up over the years. Often this isn't down to me learning or finding new strategies, but tweaking existing ones and taking advantage of changes/updates to the technical limits of Betfair (such as introducing new APIs, unlimited data limits, transaction limits, streaming, etc..). At the same time, like spreadbetting, I've become a bit stuck in the rut recently and not had much drive. I think maybe because I'm not really learning much anymore. I never forget how extremely lucky I am to have gotten where I am though.

[jimibt]

Well you're already doing pretty well if you can consistently make £10 per race averaged over every single race. With around 11,000 races a year, you'd be grossing over £100k a year.

It's an achievable target, but don't expect it to be easy. As many experienced traders advise - attempting to trade every single race isn't necessarily the best strategy.

Having said the above, there's definitely quite a high ceiling on what a good trader can achieve. And if you're into automation then you can also disconnect your profits from the amount of time you spend working on it.

Personally, I've been quite pleased that I've managed to keep scaling up over the years. Often this isn't down to me learning or finding new strategies, but tweaking existing ones and taking advantage of changes/updates to the technical limits of Betfair (such as introducing new APIs, unlimited data limits, transaction limits, streaming, etc..). At the same time, like spreadbetting, I've become a bit stuck in the rut recently and not had much drive. I think maybe because I'm not really learning much anymore. I never forget how extremely lucky I am to have gotten where I am though.

of course, the rut is (in a cartoon way) a perfect 3D view on where you are, where you came from, and if you're brave and have the experience, where you can go. i know it all sounds disney like (given the 3D reference) but i think that we all choose to accept our comfort zone (or not) and play within those parameters. i often bang on about how i have no baggage from the past to prevent me looking fwd, but i'm still very engaged with the notion that being a zero sum game, we're all clawing at the edges. nerve, determination and a willingness to step outside my comfort zone seems to have kept me plugging away at this. i also acknowledge that there's no way in h3ll to play every market. i content myself with possibly 12-15 markets a day - with varying success.

now just need some mind blowing profits to glue sanity and it's lesser appreciated cousin, *frustration*, together and we're set

tho that said, nice finish (btw -my muse was Many Dreams ):

nice race.PNG

[iambic_pentameter]

xitian wrote:
Well you're already doing pretty well if you can consistently make £10 per race averaged over every single race. With around 11,000 races a year, you'd be grossing over £100k a year.

I should clarify, that I've only been trading since the summer and am nowhere near that figure - what I meant, was that when I started looking at horse racing trading, I found some videos online of an Australian trader making £10 per race and thought that was the holy grail.

It hadn't even occured to me that you could make more than that a race

Jimibit, great work on that trade, Sir!

Gives me confidence and inspiration for the future.

[Bluesky]

Thanks for posting those results xitian its encouraging to see that ones profit doesn't come from just the summer months.