Rubbish racing

[Melsey]

Well a dull day for me too... Just ended up spending the majority of my time staying out of harms way... not a very enjoyable way to trade...! I guess the only good side is that it reminded me of how a day like today in the past when I was starting out would have ended up with me taking more risk trying to 'squeeze' a decent result out of the day and then going 'on the tilt' in frustration only to spend the next couple of days/rest of the week repairing my balance sheet...

Keeping my fingers crossed for us both for a 'better' day tomorrow Rhys....

[andyfuller]

Well, I didn't pack in and I lost £246

I don't know how any of you guys made money from today, It seemed impossible to me!

16 races traded and only profited in 4! not sure I've ever traded as consistently bad before

Chin up mate - from what I have seen of your results you seem to have pretty big swings so I guess days like today are inevitable for you and something you will just have to take on the chin.

Looking at your PnL you seemed to miss a few races early on in particular the 12.50 at Ffos Las that saw a huge steaming fav, went from 1.8 to 1.3 in a straight line. Missing opportunities like that can make a huge difference to a days PnL. I don't trade every race but try and keep an eye out on every race as you never know where the next good opportunity is going to come from.

There were some pretty good trading markets in the end I felt after my early comment and managed to pull out a decent result with just two losing races, the worse being just under a tenner so there was definately opportunities out there as there is every day, just a matter of stalking the market ready to pounce when it comes along.

However, comparing my trading day to yours is pretty pointless in reality as we clearly have totally different trading styles much like myself and Peter, it often seems that on days he does well for example I don't and vice versa. So be careful taking comparisons against others it can leave you feeling pretty down, I speak from my own personal experience in the past. The only person it really matters about comparing yourself with is you yourself

[Euler]

Bit better today, but not much!

[rhysmr2]

Well, I didn't pack in and I lost £246

I don't know how any of you guys made money from today, It seemed impossible to me!

16 races traded and only profited in 4! not sure I've ever traded as consistently bad before

Chin up mate - from what I have seen of your results you seem to have pretty big swings so I guess days like today are inevitable for you and something you will just have to take on the chin.

Looking at your PnL you seemed to miss a few races early on in particular the 12.50 at Ffos Las that saw a huge steaming fav, went from 1.8 to 1.3 in a straight line. Missing opportunities like that can make a huge difference to a days PnL. I don't trade every race but try and keep an eye out on every race as you never know where the next good opportunity is going to come from.

There were some pretty good trading markets in the end I felt after my early comment and managed to pull out a decent result with just two losing races, the worse being just under a tenner so there was definately opportunities out there as there is every day, just a matter of stalking the market ready to pounce when it comes along.

However, comparing my trading day to yours is pretty pointless in reality as we clearly have totally different trading styles much like myself and Peter, it often seems that on days he does well for example I don't and vice versa. So be careful taking comparisons against others it can leave you feeling pretty down, I speak from my own personal experience in the past. The only person it really matters about comparing yourself with is you yourself

I'm already down £200 for today as well (messing about in play since the markets feel like yesterday)

I missed a couple of the first races yesterday because I was messing about boxing stuff up in my room, I'm currently trading from my old bedroom where my gear is set up and living at my new house where my office is getting decorated.

I know what you mean about the swings but I would rather be more consistent! To be honest I only average about 3 losing days a month and there not normally over £100 so a £250 losing day and now a £200 loss today is still pretty bad for me. At the moment is rare I get winning days over £200 as well.

I can safely say I'm in for a tough week, doubt I'll make anything at all. never mind, the show must go on!

[Euler]

When the market is tough like this week, I think you have little option but to be defensive. It's tough to do so in the winter because you need every penny but you have to resist the temptation to trade a market that is untradeable.

[Euler]

Four runner becomes a one runner race in the 13:50 at Lingfield!

[Iron]

Could you not simply avoid the horses & markets that don't suit your style of trading?

Jeff

I know what you mean about the swings but I would rather be more consistent! To be honest I only average about 3 losing days a month and there not normally over £100 so a £250 losing day and now a £200 loss today is still pretty bad for me. At the moment is rare I get winning days over £200 as well.

I can safely say I'm in for a tough week, doubt I'll make anything at all. never mind, the show must go on!

[freddy]

It's just not fair on us poor traders this time of year,
just when xmas is coming up as well,
hope no one is expecting much this year

[Iron]

It's a sum zero game, so someone must be doing well!

Jeff

It's just not fair on us poor traders this time of year,
just when xmas is coming up as well,
hope no one is expecting much this year

[andyfuller]

Yeah Betfair - the only people to win every single market

[giulio2010]

just a stupid question from who dont do horses. I was watching the sthl 13.4 pre race money movements. I saw a horse called NADEEN going from 4.8 to almost 6-1 whitin less then 10 seconds b4 the off. I watched the race, the horse was fit and hit 1.1 to almost win the race...this is one of the reasons why i dont do horses but, It would be nice to understand how it works.

[rhysmr2]

Could you not simply avoid the horses & markets that don't suit your style of trading?

Jeff

It would seem that all the markets yesterday and today do not suit my style, I know I just need to chill out and go easy (like Euler says, it's tough), instead I'm going in a bit heavy and getting burnt.

[rhysmr2]

just a stupid question from who dont do horses. I was watching the sthl 13.4 pre race money movements. I saw a horse called NADEEN going from 4.8 to almost 6-1 whitin less then 10 seconds b4 the off. I watched the race, the horse was fit and hit 1.1 to almost win the race...this is one of the reasons why i dont do horses but, It would be nice to understand how it works.

This could be a number of things, like a layer who had left it late, possibly with the idea of it drifting and backing in play or just leaving the lay.

From experience, If I have gone in with a large stake and it's not working out sometimes you need to just get out the market with a big red before the start (or chance blowing your whole bank in play). I've pushed odds out a good 10+ tics before trying to offload a huge stake, it's a nightmare because people see it and jump in front, basically trading off your silly mistake

[giulio2010]

just a stupid question from who dont do horses. I was watching the sthl 13.4 pre race money movements. I saw a horse called NADEEN going from 4.8 to almost 6-1 whitin less then 10 seconds b4 the off. I watched the race, the horse was fit and hit 1.1 to almost win the race...this is one of the reasons why i dont do horses but, It would be nice to understand how it works.

This could be a number of things, like a layer who had left it late, possibly with the idea of it drifting and backing in play or just leaving the lay.

From experience, If I have gone in with a large stake and it's not working out sometimes you need to just get out the market with a big red before the start (or chance blowing your whole bank in play). I've pushed odds out a good 10+ tics before trying to offload a huge stake, it's a nightmare because people see it and jump in front, basically trading off your silly mistake

Why aren`t backers to take advantage of it? I have spotted ealier Vasas vs Paks, Hungarian league. PAKS was 3.5 to win, it was a ridicules price for that team to win so I backed it, many others did the same just after me. 5 minutes in to the game PAKS was already 2.3 no goals scored. In that exact moment the price reached it`s true value so I greened up. for the record paks won 1-4. If some1 try to maniplate or place infinitive lay bets on football some1 else will oppose it to take adavantage of the false value of the odds...isnt the same in horses?

[Iron]

Betfair produced some statistics years ago that showed that you could make a profit by backing drifters and laying steamers.

It's something I've considered doing myself, but I'm not sure if that's still the case (or if Betfair's results were anything other than a statistical aberration, despite the large sample size).

Does anyone know of any other studies into the market's efficiency when it comes to drifters and steamers?

Jeff

just a stupid question from who dont do horses. I was watching the sthl 13.4 pre race money movements. I saw a horse called NADEEN going from 4.8 to almost 6-1 whitin less then 10 seconds b4 the off. I watched the race, the horse was fit and hit 1.1 to almost win the race...this is one of the reasons why i dont do horses but, It would be nice to understand how it works.

This could be a number of things, like a layer who had left it late, possibly with the idea of it drifting and backing in play or just leaving the lay.