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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?

jb - to get a grip of football trading you need to fully understand the time-decay. If you have done Scrip's course you will have the tools. If not, it's worth doing the course. It's a valuable investment.

There are times when you can sit relatively safely on the lay side knowing that the decay is minimal and you can stop-out cheaply. At other times you can trade down the decay curve, scalping to avoid risk.

There are loads of strategies involving set plays, etc. It's almost always tradeable but my one caveat is not to get into placing bets too early. Try and get a feel for the match first.

Thanks! I don't understand the time-decay. So course would seem a good option. All booked up at that moment.As a part-timer was bit reluctant to shell out the dosh. but i lost far more than the course price on my first attempted trade. made that up with some mug punting (it pays "sometimes") and matching bookies generous cheltenham signup offers this week. Been making 6-10 on the trading since the first botched attempt. Books on order.. whilst I understand there's nothing like hands-on training.. i'm hoping the book does have all this stuff in there too.

Unusual but welcome event on a darts league match this evening. Some clown risking over 200,000 to buy cash at 1000:1

In these circumstances, however unlikely the outcome, it's worth giving back some profit to buy a cheap chance at the trade of the year.

Excellent trade! No matter how you achieve it, to spot the opportunity and execute against it deserves reward. Well done!

Edward, Nice looking book.

Saw the match earlier. There was 1 leg where it was beyond comical! Both had several chances to win it on double 1 LOL

Can't quite believe what happened on the cricket tonight and the quite frankly appalling manner in which I traded the match.

1. At some point during the Zimbabwe Innings I'm all green, 120 in the bank.
2. Zim start losing wickets following a bright start and when 5 down I back Ireland to win increasing my potential winnings on Ireland to 600, but a loss if Zim win.
3. Unfortunately Zim get their act together and reduce the required rate to 2.5 runs per over. Lay Zim at 1.03, now 1650 if Ireland win, -130 if Zim win.
4. Remarkably, Zim lose a wicket, I green up again at 1.20 'guaranteeing' 120, back to where I was. Zim lose another wicket and then another. I am now kicking myself rather severley, 9 required off the last over, the odds on Zim have drifted out to 3.0, why oh why didn't I wait?
5. As it turned out the bloody match was drawn and I ended up winning absolutely nothing. Must be a few lessons in there somewhere.

pth

BTW. Well done Edward :)

Nice book edward (i assume the 1000 was before DP got to 7 legs or there was no way it could get lower)

been a much better day here, wins at Cheltenham (thank you Drever), the cricket and the darts :-)

was some huge panic in the ireland v zimbabwe cricket game, 700k matched at between 1.01 and 1.05 on zim, they found themselves 9 down needing 9 off the last over. 8 off 5 then a wicket last ball led to a ghastly tie and no doubt forum meltdown