Motivation from other Trader's blogs and P&Ls.

[AmazingMisterX]

Thanks all

[Crazyskier]

PeterLe, you mention £2 back stakes and in-play lays of upto £7; without giving away your strategies, could you possibly expand further about if this favours the longer priced runners winning?

I'd prefer no to say too miuch as you can appreciate but I like to play in areas in play that are hard to be manipulated...

Bloody hell Peter, cryptic much?

I genuinely have no idea what you mean by that, lol. I was just asking if your in play strategies generally had better results when an outsider won as mine seem to. I am finding it almost impossible to gain a consistent in-play 'edge' when one of the top 3 favourites win. I've spent thousands of hours tinkering, so any small crumb of insight would be most appreciated. Feel free to PM me if you'd prefer Peter, but I keep thinking I've had these 'eureka' moments only to find that they are best described as 'flash-in-the-pan' LOLOL

[spreadbetting]

I thought it was decent advice but I guess if you're looking for a ready made 'bot' no point in wasting time thinking about it?

p.s. can you pm me the bot too, Peter

[Crazyskier]

I thought it was decent advice but I guess if you're looking for a ready made 'bot' no point in wasting time thinking about it?
p.s. can you pm me the bot too, Peter

I wasn't asking for a 'ready made bot' at all, I thought I made myself clear, even though it was PETERLE I was asking anyhow.

Below are examples of yesterday's in-play automation results. You'll note that when the outsiders win, it's very simple to lock in a profit (their SPs are bigger than the number of runners, so a win is guaranteed with my strategy), however as you'll also see below, when a favourite comes in without lengthening significantly, it HURTS. Hence I was interested in what PeterLe was prepared to share if anything about how to avoid the large losses on favourites in-play.

[bullie99]

might be worth looking at the running styles of the horses you are targeting. I would say their performance drives the price change in the first instance

[PeterLe]

[
I wasn't asking for a 'ready made bot' at all, I thought I made myself clear, even though it was PETERLE I was asking anyhow.

I think we should try and keep this thread clear as its only intended for motivational posts..
However, I will respond quickly once to your question..
First point. You dont need to trade every race with your BOT.
Second point. You dont need to trade every race with your BOT. Worth mentioning again as its a very inportant point
Ive just checked my P&L for that race. (ive got numerours BOTs running). Not a single bet was placed by my BOTS.
If you look at the results of that race in comparison with one from my screen shots, can you draw a comparison and form conclusions?

The race you lost on, was never a close thing, Why was a bet fired in>? (three under 2 is a close thing) I expect the book %'s stayed fairy calm and although the nearest challenger touched 3.2 at its lowest (thats HIGH). Kasbah highest in play was just 2. Did it ever look like losing?
You need to run a close race in your minds eye and think what would happen to prices, vols, book %'s, spikes,etc etc, and then run it again if it not a close race?
Yo then need to capture the conditions in you BOT (if you make it bullet proof, it will never fire a bet in, if you make it too loose, then you WILL lose money)
THere are hundreds of people running BOTS on every race. Its so hard these days to make a long term profit
You need to do something unique and hone and refine as you go along
Regards
Peter

[xitian]

That's very generous advice, Peter! I'd definitely class it as motivational!

It's astonishing how helpful and generous this BetAngel forum is. PeterLe, Dallas, that mysterious Euler guy, and many others really do deserve medals! Motivation with a capital M in my opinion.

[LinusP]

That's very generous advice, Peter! I'd definitely class it as motivational!

It's astonishing how helpful and generous this BetAngel forum is. PeterLe, Dallas, that mysterious Euler guy, and many others really do deserve medals! Motivation with a capital M in my opinion.

+1 I think this has been mentioned before but would be great to be able to vote / start answers (similar to stackoverflow)

[PeterLe]

With all the hype and excitment going on this week with Cheltenham, anyone new to trading may feel that they 'should' also be raking in the profits. My advice is have some fun but DONT stretch yourself feeling like you're missing out on the action. These markets trade very differently (See Peter's blog)
Ill be real honest and say that Cheltenham doesnt suit my style of trading, so I tend not to go for the big wins and just do my normal stuff.
This is a screen shot from thefirst race and I doubt very much whether Ill come close to that from a Cheltenham race today. There money to be made outside of Cheltenham as well..Good luck
Regards
Peter

[andyfuller]

Great results PeterLe -

Got to say I was never the biggest fan of trading Cheltenham as it didn't suit my style.

[Dallas]

WD PeterLe good start for the day for you as well.

I ve often said on here im not a great lover of festivals either and can quite often pick some good moves pre-race from the spilliage into the supporting cards.
Must admit though I usually turn my IR auto off during festivals but looking at your results it looks business as usual so may have to consider putting one or two back on again

[Crazyskier]

Nice one Peter!

I did try opening a second BA screen but found that it defaulted to the input of the first. Was this because I had Betfair open too, or do you use a second / third account for the other BA applications?

I'm guessing the latter, but does this need to be done in say one's wife's name, or are Betfair happy to have more than one account per customer?

PS - for my own P&L I managed to avoid loss (my current goal rather than any great profits) on all but 5 of all today's race card, both win and place markets. Pennies making pounds etc...

NB: Note the green-ups for ZERO and one penny and 5p etc... Still learning discipline.

By far my biggest loss of the day (a whopping £3.16!!) was reading too much into Annie Power's sweaty condition pre race. She was magnificent.

[callumth1]

Not often you can do much on the Scottish Premiership..

[oscar123]

Well played callumth1, nice result.

[callumth1]

thanks. got out way too early though