Hey everyone,
Been using Bet Angel for a year now, and have very much enjoyed reading these forums, it's taught me allot and given me some excellent pointers.
My situation is very different to many, as I'm not a full time trader but i do make a decent return on capital each day trading In-Play Horse Racing (yep, you herd me lol). For some reason i can make it work over the long run, but as you can imagine it swings in roundabouts from day to day. I've also been mentored from time to time by a chap who makes a good living in-play, so consider myself lucky there.
I got into this as in the past i was not interested in putting huge amounts through a market for just a couple of ticks and a small couple of quid each race, so always thought of Pre-Race trading a slow, boring and pointless with huge risks for very little return.
However, now that I’m much older a wiser lol. Now that I have learnt about building up your profits, about return on capital, about patients and waiting for the right opportunity, about knowing that sometimes the most profitable thing is to do nothing. Now that I know all of this it’s suddenly become very clear to me why there are not more people like me doing In-Play, and why the pro traders all trade before the off. So I’m looking to start going down that path now. I have both time and patients, a big will to learn and I don’t lose my cool with big figures, which I think you will agree are very good starting points for the quest I’m about to undertake.
Problem is that Pete makes it look so easy in the videos, and of course it’s not. I found the simple video on scalping highly hilarious (no offence Pete lol) in that I tried it a year before and it all went wrong, and my friend who makes a living on Belfair, that one video put him off pre race trading all together because we both lost money doing something that was meant to be easy. Pete of course he was saying “for those of you who want to get started, here’s a simple way to do it, scalp the market with one tick with the book reversed and it’s so easy and automated” lol
So am looking to really study each market as an independent entity, which brings me to why I am here today – Graphs.
I’m familiar with how to set them up etc, but to be honest from what little I have looked at in the past, I’ve not really found them useful so am obviously doing something wrong. I’d be really appreciative if some of you pro guys could give me an example of graph setups you use, and more importantly what indicators you look for to decide an entry point etc. I don’t want to overload myself with tons of things to start with, so a good starter graph set up which can be used to find reliable indicators of what a price is doing and what it will do would be a great place for me to start.
I’m keen to get off on the right foot so to speak, so I don’t want to set up a graph with 3 lines, have a bad day then go away and sulk. I want to know that what I’m looking at one screen is what the pro’s are looking at. Even if you pro’s don’t want to give me the exact indicators you look for to trade from, that’s fine. As long as I know I’m looking at the same things you’re looking at I’m happy and looking forward to figuring it out myself, and indeed finding out what works for me, as I would imagine everyone has different things/area’s/markets that best suit them.
So that’s my question really, although I have rambled on for a while now lol. (why use one sentence when you can use 4 paragraphs lol) Any help you guys could give me would be great, and I thank you all in advance for any pointers you can give me.
Cheers
