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Ian, I echo what pth has said earlier.

However, if your intial trade was to lay 500 at 4.0 with a plan to back back at higher odds then this wont go through as your liability at 4.0 would have been 1500, way beyond your maximum.

Please note that the above is purely an example. I really dont recommend that you lay such amounts at high odds. Your account will be sunk in no time, LOL

Thanks for your help guys its much appreciated!!

If the lay price drifts and I take a small loss. Do I just leave Bet Angel as is based on the loss for the particular horse that I backed/layed or do I have to green up my loss across the field just like I would when I win?

Rgds,

Ian

Ian, It's better to accept the small loss rather than spread the loss throughout the field. There's a very good chance that the horse won't win anyway so you'll come out flat.

Hi bakko,

So basically after laying at a small loss I should leave bet angel as is then move onto next race?

Rgds,

Ian

Hi bakko,

When you say I'll come out flat! what do you actually mean? I'm graudually getting to grips with this. Thanks again for you patience!

Flat meaning you'll win or lose nothing since your liability on the rest of the field should show zero. That's, of course, if one of these romp home rather than the horse showing a loss.

Excellent first day at Cheltenham! Hope everybody else did ok.

bakko thanks again for your help!

Hi Bakko,

I had an instance where I backed a horse then tried to lay at a lesser price but couldnt get anyone to accept the lay odds although it was accepted eventually. What would happen if I back and cant lay? have I just to sit back and watch all my doe riding on this horse to win? or can I do something to reduce my risk? as the old ticker was nearly busting out my rib cage until the Lay price was accepted.

Rgds,

Ian

Ian

You can either let it run and hope it wins or lay off the same bet at greater odds limiting your risk to that one horse and hope it doesn't win, if it doesn't you have lost nothing.

Just an offer of advice. One of your earlier threads mentioned sums of 500 per bet, I don't know if that was just an example, (but if your ticker was nearly busting, I guess not). Until you have a much clearer idea of what you are trying to achieve and the mechanics of betting exchanges, I really would suggest you keep your bets to a minimum of 2. If you haven't come a cropper yet, you will.

Best of luck

pth

Hi ptholden,

Thank you for the advice! I had been keeping my bets to 2 for the last 3 weeks then decided to gradually up the stakes the more confident I became. Although 500 was an example I had tried a few at 200 which fortunately worked in my favour. I'll start reducing my stakes again from tomorrow until confidence increases! Do you have a specific system that you work to that you would like to share?

Rgds,

Ian

Ian

I don't do the horses, can't seem to get the hang of it. Other sports, just look to back high, lay low. Some knowledge of the events can be useful to help understand how, why and when the odds move if you are trading rather than betting.

Perhaps you should consider Scrip's course, will give you more of an insight.


pth

Hi ptholden,

I have considered attending Scrip's course unfortunatley most courses are ran South of the Border and I'm North. If there are any plans in the future for Central Scotland I would definately consider attending. Have you tried Chartist2004 system as there seems to be some foundation there?

Thanks again,

Ian

............

Harlosh /Chartist
You both seem to have cracked the trading direction -- so congratulations
I for one have never managed to get crack this.

Chartist you state that it works for me 95% of the time. (your wheelbarrow wheel must be under some strain when you take it to the bank with all that cash (lol).
(1) Are you only watching the fav odds for direction .
(2) Do you use the pro angel -------- or will basic do the same job ???
(3) Would you like to explain further what your looking for with the wom indicator

Harlosh you state -- don't be too hasty. Wait for the right moment.
would you like also to explain further.
Looking forward to your replys,
Thanks BP

BP,

Hope I didn't make it sound easy cos it ain't. It's a case of waiting for the weight of money on one side to force the odds in or out on the other side. It takes a great deal of concentration - too much for me to do on a daily basis these days. But it isn't simply a case of backing the favourite and hoping the odds come in cos of course, favourites go out of favour too and so are good lays when the weight of money shifts from them onto another horse which then suddenly becomes favourite.

Look for drifters as well as steamers, always scanning for where the money is. Then practice, practice, practice :-)

Horses not being my bag so far as trading is concerned - being a confirmed tennis and footy trader- I have been trying my arm at Cheltenham yesterday with some modest success. The sheer volume has the effect of slowing down the moves so it is hardly typical of what you would see on a normal days horse racing. However I reckon I could see Peter at work waiting until the favourite was backed down to within a 4 figure sum of the tickover and then whacking it across! maybe?

I try not to study the form (Steve) - always gets me into trouble. How many picked Sublimity yesterday? I got caught out last night on the tennis at Indian Wells when Sharapova was a set and 5-3 up, needing only to serve out for the match. Didn't seem to be any point in laying the top seed at 1.03. The rest is history... Made a measly 100 on that match when it could have been a grand for the risk of giving back 30. And I'll do it again no doubt :-)

Edward

Sublimity cost me a tidy win Edward - on all known form it was over 2 stone out of the weights :-(

compoundup, whenever ive looked at footy trading , i encounter the same problem you mention with cheltenham..e.g the volume has meant little movement at the times ive looked. I realise the prices do move, certainly seen them drop nearer kickoff . the horse trading the fluctuations i see can be in persiods of 30 seconds or so. Is footy trading done over much longer periods?