The only reason I say this is because I make less money on these meetings then any other, even very thin markets.
I don't have a big interest in horses so I don't look forward to or appreciate the quality or level of racing.
I find it very hard to read the market since there is so much money about. Even the thinner in between markets are effected (large spikes).
It's not like I'm new to this either I've been a full time trader for years and I do OK apart from these big meetings.
Any advice? I guess I just have to take a very different approach to these markets? I mean the likes of Mr Heathcote or Mr Webb seem to make huge profits from these large meetings. I want to take advantage of the huge amounts of money involved in these meetings too!
Am I the only person who doesn't look forward to Cheltenham?
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enzabella2009
- Posts: 747
- Joined: Tue Nov 03, 2009 3:58 pm
IM not on ( tradings) horses generally but I had to back quavega on 16:40...strangely 5 minutes b4 off saw so much money were going against quavega ( i dont get it) ..... I am glad the tip i got was right....yes yes yes...
You have to adapt your style to suit the different markets. Just because there's little movement doesn't mean you can't make money.
I don't know if its just me but it felt a little like less was going through the markets today than on previous years? Just a hunch, maybe it will pick up as the days go on
I don't know if its just me but it felt a little like less was going through the markets today than on previous years? Just a hunch, maybe it will pick up as the days go on
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.
So, big meetings like this mean I can place bets for thousands in the morning and be fairly confident of not getting hit by massive spikes
Made £450 today, so well chuffed
I only ever deal with early prices.
For some reason I just don't make money race by race.
So, big meetings like this mean I can place bets for thousands in the morning and be fairly confident of not getting hit by massive spikes
Made £450 today, so well chuffed
I love the racing at Cheltenham which is good cos I usually struggle to make any money on these kind of races but I have been developing my 'big meeting' strategy for a while and had my best day this year! I thought the last two races were a dream to trade...
Hi Sweets, It's been a while! I've been doing well thanks, nicely progressing over the last year. Happy with my profits (would be more happy without the premium charge 
), still want to be in the 1k a day club though!
Yeah I appreciate why people would look forward to Cheltenham, it's just from a trading perspective I definitely don't. I've made a small loss today and I lost yesterday so I'm in for a bad week
I feel like having this week off but I need to get a strategy together for these larger meetings or I'll never crack them.
Hgodden, yeah I know I need to adapt but I'm finding it hard. I know I need to use more of a 1 tic scalping style but even that doesn't seem to work, I guess I need to lower stakes and really try and find an angle.
Adapt or die!
LeTiss 4pm, £450 I'm jealous! I have a small loss!!
Danum, tell me your strategy!
), still want to be in the 1k a day club though! Yeah I appreciate why people would look forward to Cheltenham, it's just from a trading perspective I definitely don't. I've made a small loss today and I lost yesterday so I'm in for a bad week
I feel like having this week off but I need to get a strategy together for these larger meetings or I'll never crack them.
Hgodden, yeah I know I need to adapt but I'm finding it hard. I know I need to use more of a 1 tic scalping style but even that doesn't seem to work, I guess I need to lower stakes and really try and find an angle.
Adapt or die!
LeTiss 4pm, £450 I'm jealous! I have a small loss!!
Danum, tell me your strategy!
Asking for for advice or strategies is like asking for the holly grail but here's one for you seems to work at the big meetings,what i find is because the big bookies have large liabilities there very hesitant to push the favorites out , the smaller bookies know if they push fav out the sharks will pounce (meaning bigger bookies )hence what you will find is like today 90% of morning favorites will shorten also always watch for the green and yellow mob very rare there fancy will drift and one last one for you for instance master mind tomorrow the bookies will all be saying this and that about it but if the horse drift,s to more than evens it's not winning but like i expect it will come in out in out but watch the last 10 mins before the off it will be rock solid fill your boots but like i've said if it drifts passed evens it ,s not winning anyway hope you have a better day tomorrow and if you stick to what i,ve written you be in profit be lucky
Hi Rhysmr2rhysmr2 wrote:The only reason I say this is because I make less money on these meetings then any other, even very thin markets.
I don't have a big interest in horses so I don't look forward to or appreciate the quality or level of racing.
I find it very hard to read the market since there is so much money about. Even the thinner in between markets are effected (large spikes).
It's not like I'm new to this either I've been a full time trader for years and I do OK apart from these big meetings.
Any advice? I guess I just have to take a very different approach to these markets? I mean the likes of Mr Heathcote or Mr Webb seem to make huge profits from these large meetings. I want to take advantage of the huge amounts of money involved in these meetings too!
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. By this time there is usually thousands behind you (so you could scratch if need be)..then place a counter back bet one tick above just as you see your lay bet being taken...
You can use this on high liquidity markets such as the football too..AND do it a few times each race..(If you have enough in your bank you could stick three or four bets in a tick or so apart..
Can be a little daunting at first especially when you are trading ten times your normal stake..but because of the low volatility you are never really in great danger..
Read somewhere about letting the market be your slave rather than your master...this is an interpretation in my view...
Good Luck !
regards
Peter
Hi Rhys,
Good to chat it has been a while.
Yes mainly doing in-running, still part-time. Life is very busy with three small ones and a proper job to keep me out of trouble.
I have a bot on the Oz markets and another on the US horses which seem to be just about making money.
I made more in 2010 than 2009 but I have had some pretty low times when I was burning the candle at both ends and thought I had lost my trading mojo, especially in January.
For sure things that worked in the past don't work now and I need to try and keep ahead of the pack.
One good thing is that I have managed to avoid the PC in 2010.
sweets
Good to chat it has been a while.
Yes mainly doing in-running, still part-time. Life is very busy with three small ones and a proper job to keep me out of trouble.
I have a bot on the Oz markets and another on the US horses which seem to be just about making money.
I made more in 2010 than 2009 but I have had some pretty low times when I was burning the candle at both ends and thought I had lost my trading mojo, especially in January.
For sure things that worked in the past don't work now and I need to try and keep ahead of the pack.
One good thing is that I have managed to avoid the PC in 2010.
sweets
Hey Peter, thanks for that, makes sense trying to get good position early on in these markets!PeterLe wrote:
Hi Rhysmr2
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. By this time there is usually thousands behind you (so you could scratch if need be)..then place a counter back bet one tick above just as you see your lay bet being taken...
You can use this on high liquidity markets such as the football too..AND do it a few times each race..(If you have enough in your bank you could stick three or four bets in a tick or so apart..
Can be a little daunting at first especially when you are trading ten times your normal stake..but because of the low volatility you are never really in great danger..
Read somewhere about letting the market be your slave rather than your master...this is an interpretation in my view...
Good Luck !
regards
Peter
I can imagine your very busy with three kids and a full time job! I'm surprised you still have time to sort bots out and do some trading. Glad to still hear it's going well though. I remember you used to post some very impressive football results as well, hope that's still going well. I've still not strayed from the Horses, I really should diversify at least a little!sweetybt wrote:Hi Rhys,
Good to chat it has been a while.
Yes mainly doing in-running, still part-time. Life is very busy with three small ones and a proper job to keep me out of trouble.
I have a bot on the Oz markets and another on the US horses which seem to be just about making money.
I made more in 2010 than 2009 but I have had some pretty low times when I was burning the candle at both ends and thought I had lost my trading mojo, especially in January.
For sure things that worked in the past don't work now and I need to try and keep ahead of the pack.
One good thing is that I have managed to avoid the PC in 2010.
sweets
Don't know how your avoiding the PC charge!? must be the bots and the way you trade. I don't think I could handle in play!
Good luck on the rest of the year!
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
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.PeterLe wrote: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.
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.