Am I the only person who doesn't look forward to Cheltenham?

[rhysmr2]

Andy,

Just curious as your an experienced trader, how do you find these large meetings? do your profits increase dramatically or stay the same or....?

[andyfuller]

I did reasonable today but for me it is more about the racing than the trading at these big meetings and any other big race. I have a background in racing both on the racing side and breeding side.

To me Cheltenham is about enjoying the fact I no longer have to sneak off to watch it on a small handheld TV I used to keep in my pocket. I enjoy the fact that I can now enjoy the build up all day and the coverage all afternoon.

If I make any extra money over the norm along the way all the better. Yes I would like to make huge money but I would sooner enjoy the event as I don't need the huge money.

There is more to life than money after all!

[rhysmr2]

Cheers Andy, I'm glad you are able to enjoy the festival.

Trading for me is purely about making money, I know what you mean about there's more to life than money but trading to me is all about the money, I do enjoy the freedom it gives me and the challange it brings but I have little interest in the sport itself.

Anyway enjoy the rest of the festival! good luck.

[PeterLe]

One way I trade these type of meetings is to place an early large lay bet slightly out of the money (as near to the front of the que as you can)..then be patient and wait till the market reaches your position.

If you are expecting the market to come down to your lay position you may as well back it before it starts coming down, no point waiting for it to come to your lay then it carrying on through or just getting one tick out of it.

Though I understand the idea, but you I assume are doing it on the basis that you get early que position rather than predicting which way the market is going to go. Therefore you should do it on both the back and lay side.

As I say if you expect the market to come down to your position why wait to get your lay matched, get on the move before.

Hi Andy,
Yes you're correct. I do actually do this on both sides a tick or so above the resistance lines normally. The reason I mentioned just lay yesterday was that the favorite seems to come in slightly from the early morning position in most instances. (There were a couple positions that didnt get matched; but that didnt matter I just scratched the bet).
I'm happy with a couple of ticks per race using these stakes.

Thanks
regards
Peter

[Bet Angel]

If you don't like tons of money in the market then you may want to head over to Betdaq. The markets are flush with cash but they are not as stuffed full as Betfair. It's working really well at the festival!

[Iron]

Interesting.

What's your strategy?

Jeff

Cheltenham's great for traders like me

I only ever deal with early prices.
For some reason I just don't make money race by race.

[rhysmr2]

I've decided to just miss out the cheltenham races, I had about £150 worth of losses on Chelt yesterday and I made about £140 profit for the day, if I'd have skipped the Chelt meeting I could have made something like £300.

[Bet Angel]

Have a pop on Betdaq, Cheltenham 'feels' completely different on that platform and that may suit you?

[jimrobo]

was it me or in the 4 o clock was there a million more matched on betdaq than on betfair at the off??

[andyfuller]

Did you convert the BF amounts to BD?

I would be very surprised if there was more on BD

[jimrobo]

I thought so but I only glanced at it at the off and didn't really take it in. It was only afterwards I actually realised but I'm sure someone will have the data

[andyfuller]

You can't really compare them just by glancing as you have to multiply up all the amounts matched at different prices on each horse on the BF market which isn't a 2 second job.

Sure Peter will have some stats as he is trading Betdaq today as well as Betfair.

Would be good if Betdaq had more

[rhysmr2]

Yeah I should have a look at BD, it's just I'd have to put money in my account, should have some in there anyway really.

I missed most Cheltenham races today, Scratched one and lost £25 on one, made £212.73 profit so it looks like I can still do alright without the Cheltenham meetings.

Might do a few Wolvs races tonight as well.

[LeTiss]

Interesting.

What's your strategy?

Jeff

Cheltenham's great for traders like me

I only ever deal with early prices.
For some reason I just don't make money race by race.

I've only just noticed your post, sorry for ignoring it

Trading horses usually loses me money.
Therefore, my confidence on horses is low, and this is a terrible state of mind for any traders, let alone ones earning a living from it!

I sometimes dip my toe into early price markets, but they can be a bit gappy. This means a large wedge of money distorts the market and puts me in a vulnerable position if someone takes it out in one hit.

Cheltenham is different. The early price markets have lots of liquidity, and any price movements can be easily detected before someone wipes me out. This enabled me to place large bets on both sides of the book and be quietly confident that I can take some money out of the market

[Iron]

Thanks Le Tiss.

Are you mainly a football trader then? If so, do you think it's possible to trade football successfully using just the odds, or do you need to know something about the game?

Jeff

I've only just noticed your post, sorry for ignoring it

Trading horses usually loses me money.
Therefore, my confidence on horses is low, and this is a terrible state of mind for any traders, let alone ones earning a living from it!

I sometimes dip my toe into early price markets, but they can be a bit gappy. This means a large wedge of money distorts the market and puts me in a vulnerable position if someone takes it out in one hit.

Cheltenham is different. The early price markets have lots of liquidity, and any price movements can be easily detected before someone wipes me out. This enabled me to place large bets on both sides of the book and be quietly confident that I can take some money out of the market