Today's Horse Racing

[mcfc1981]

could anyone recommend how much bank to start with if you want to make roughly on average 10pound a race scalping??

2k-5k

[grantmona03]

thanks guys is 10pound per race unrealistic???
I'm fairly new so I will be asking random questions lol sorry if I annoy anybody
thanks

[BetScalper]

thanks guys is 10pound per race unrealistic???
I'm fairly new so I will be asking random questions lol sorry if I annoy anybody
thanks

I consider it a good day if I make 10p a race.

[grantmona03]

thanks guys is 10pound per race unrealistic???
I'm fairly new so I will be asking random questions lol sorry if I annoy anybody
thanks

I consider it a good day if I make 10p a race.

lol whats the point

[BetScalper]

thanks guys is 10pound per race unrealistic???
I'm fairly new so I will be asking random questions lol sorry if I annoy anybody
thanks

I consider it a good day if I make 10p a race.

lol whats the point

Wait and see how difficult it is to scalp consistently for a profit.

[grantmona03]

I consider it a good day if I make 10p a race.

lol whats the point

Wait and see how difficult it is to scalp consistently for a profit.

iv already tried I know its hard but I wouldn't be happy doing it for stakes like 10p a race!

[BetScalper]

lol whats the point

Wait and see how difficult it is to scalp consistently for a profit.

iv already tried I know its hard but I wouldn't be happy doing it for stakes like 10p a race!

Hopefully you know what you are doing then as I believe 95% fail to make a profit consistently, lose thousands in the process and give up.

[deansaccount]

Wait and see how difficult it is to scalp consistently for a profit.

iv already tried I know its hard but I wouldn't be happy doing it for stakes like 10p a race!

Hopefully you know what you are doing then as I believe 95% fail to make a profit consistently, lose thousands in the process and give up.

I believe this isn't far from the truth, more than 95% I bet.

[clomax8]

Is the fact that 95% never make it because they can't debug their mindset and keep trading recklessly or is it just a constant of markets? Probaby a totally stupid question but I only ever hear that figure being cited but never the true reasons behind it.

[grantmona03]

I don't actualy think I will but I'm gona try and see how far..... so much to learn and I'm a slow learner in anything I do so will take me longer than the average guy. I'm starting with learning every tool on bet angel and what it does exactly

[spreadbetting]

£10 a race is certainly not unrealistic scalping but the problems occur when people assume they can use the same strategy on each consecutive race. It's always said scalping is like picking up pennies in front of a steamroller, choose the wrong type of market conditions or take your eye off the ball and you get run over. Much better to learn to swing trade for more than a couple of ticks and less stressful.

[grantmona03]

£10 a race is certainly not unrealistic scalping but the problems occur when people assume they can use the same strategy on each consecutive race. It's always said scalping is like picking up pennies in front of a steamroller, choose the wrong type of market conditions or take your eye off the ball and you get run over. Much better to learn to swing trade for more than a couple of ticks and less stressful.

surely that is harder to predict right?? cnt even get 1 tick sometimes let along more than a few lol

[spreadbetting]

Not necessarily, unless your approach to scalping is simply looking for a static market, dropping bets either side of the spread and then crossing your fingers hoping both get taken it's likely you've made some sort of decision as to the direction the market is moving. If you believe a market is moving in one direction there should be no real reason why it'll only move a tick or two. By simply scalping a tick from the work you've put in the determine the direction you're likely to be severely limiting your profits especially as you'll probably swallow more than a 1 tick loss if it moves against you.

[dragontrades]

With scalping its all about avoiding oversize losses.

The main skill is being able to smell danger and either shrinking the stakes or not getting involved and knowing when the time is right to go for it a bit more with the stakes.

I like to try to keep my risk level the same when scalping a maiden on a weekday or a Group race on a Saturday. On the maiden I might be scalping with £20 and on the Saturday with £80-160 but the risk is of a similar level because of the likely hood of the price moving at speed in a particular direction is far lower on a better quality race giving you more time to scratch whereas in a weaker race you will have to take more losses but on the upside you don't have large queues of money so you can get a larger number of small orders through.

Here is an example of what you need to avoid

7317.JPG

Getting caught on only a couple of markets can ruin your day.

As for bank size I only use a small bank of around 1k and let it build a bit through the week and use a little more on Saturdays.
For me £10 a race is very hard as the losses usually drag me back and it is very rare for me to average more than around £7 a race.
Even on a very good day where I had an 86% Strike Rate and some good individual races I still didn't manage £10 per race.

86.4%SR.JPG

Don't worry too much about big targets as just £3 a race will be a better income than most jobs if you are trading 5/6 days a week.

I wouldn't start with any more than a £50 bank at the begging regardless of how much you have available as, if you are anything like me when I started you will make big mistakes everyday and it will take a while to learn the discipline.

For me now the only times I have a losing day is if something crazy happens in the market, betfair has technical issues or if my discipline wavers.

Discipline is the key to success. I wish you all the best

[iambic_pentameter]

Some good posts here from dragontrades and spreadbetting.

I would go as far as saying just trade minimum stakes until you are consistent i.e. £2.

As has already been mentioned, if scalping is your only strategy and you scalp in the wrong market, you can wipe out any gains you've made previously. And, if you are not disciplined, you can end up going on tilt and losing a lot more.

If you have £100, why not divide that into 5 x £20 banks?

At the start of your trading journey, your objective is to learn how to stay in the game and not make money.

Sorry for adding this post in today's racing.

Iambic