Daily chatter 9th July

[Win2Win]

Why does wifey invite people around in the afternoons? :thumbsdown:

Looking forward to the July Cup, always a great race although nothing really stands out before the off.

[mathare]

It's all about trading for me today. I am determined to learn how to make reasonable profits trading the horses. The strategies I have been developing the last few days don't look like they will scale up very well, at least not without disturbing the markets too much so I have gone back to the drawing board.

I'm looking at other software applications too, including Bet Angel for Betdaq to try and get a feel for Bet Angel Pro to work out whether it is worth the money. I'm sure many people more than cover the cost of buying it but would I and what sort of stakes will I need to do so? That's what I am wondering at present. Similarly for Bet Trader Evo too. Bet Angel is more expensive than Bet Trader but has extras such as Soccer Mystic and Tennis Trader I suppose.

For now though it's about learning to make a few quid off the races. If I can do that and build up a bit of a bank I may siphon funds off to purchase the relevant software but we'll see.

[Win2Win]

Betangel is the most flexible of all the bots due to the Excel intergration. The new technique I've been trialling the last week should mean I can just load up the races in the morning and it'll go off and trade all the races for a profit without me doing anything. I've always kept away from that style of making money as I prefer more hands on, but I'm now looking for ways of relaxing more during races rather than trying to get the best Back/Lay prices, looking for trading options etc. :thumbs

[mathare]

I'm a long way off Excel integration though. I'll be happy with finding something that helps make a few quid here and there.

I'm starting with the obvious (WOM) but found recently that I was getting caught by too much movement in the wrong direction, especially within a few minutes before the off and the tool I was using didn't have a stop loss facility, which is why I am looking at Bet Angel (for Betdaq because it's free). I am struggling to get to grips with markets that move too quickly so am not sure trading is really for me, which is why I don't want to lash out on any software yet.

[Win2Win]

Ignore WOM .... totally meaningless these days.

The Place market adjust slower than the Win betting so any big market moves mean you can usually nick a few points on the Place market.

[mathare]

So if you ignore WOM completely how do you know which way a market is going to move? :anerikke:

If not automating one's betting via Excel but using a tool such a Bet Angel, when is the best time to trade a horse racing market? When is the market usually liquid enough and when would you suggest one gets out by?

[Win2Win]

Start trading 5 mins before the off, and get out with about 1 to go.
Use the Ladder screen, that way you watch the market moves yourself. You see the Fav moving down, something usually has to give and go up... it's a bit like watching scales. Put a little extra weight on one side, the other will move in the opposite direction.

You can also back to lay front runners in-running, as long as they are <10 to start with.

[mathare]

What's your opinion on greening up? If you have a profit on one horse should it be spread across all runners before the race starts?

[mathare]

A decent start to the afternoon but it's going downhill fast. I think I am going to have to accept I am not a trader by nature and stick to something more slow moving, markets and data I can analyse offline. In short I think it's back to the football for me before I lose any more money trying to crack trading. It was an experiment, it's not worked so give up and move on to something that should actually pay dividends in the long-run.

[Win2Win]

You always green up.

[mathare]

You always green up.I have been doing when I can but quite often I only have the opportunity to red up. :ermmm

Oh well. Back burner for now. I have better things to do than try to crack trading right now. Best to concentrate on things I know I am good at and save the learning for another day when I have a lot more time to concentrate on what I might be doing wrong.

[Win2Win]

This grounds quick today.

[barrelmaniac]

another really bad day for me, I couldnt miss so many winners if I tried, my strike rate is well down over the last few months, another month of this and I might have to reconsider my future in betting