Bit of an mixed up week last week as the Easter holiday cut a knife through the trading. Still managed to dig out a total for the week but the last two weeks have been below par. It's at times like this that it pays not to be paranoid! I guess we are going to see indifferent markets now until the Aintree meeting and the Grand national. The flat season is upon us and when that gets going there should be plenty of opportunities. Also, from April 21st, the evening racing starts properly, so hopefully that will help. In the meantime I'll continue to try and keep out of trouble.Wednesday, 26 March 2008
Week 12 - Easter earner
Bit of an mixed up week last week as the Easter holiday cut a knife through the trading. Still managed to dig out a total for the week but the last two weeks have been below par. It's at times like this that it pays not to be paranoid! I guess we are going to see indifferent markets now until the Aintree meeting and the Grand national. The flat season is upon us and when that gets going there should be plenty of opportunities. Also, from April 21st, the evening racing starts properly, so hopefully that will help. In the meantime I'll continue to try and keep out of trouble.
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14 comments:
Hey,
A few questions.. what days do you work? 7 days a week? Mon-Fri/Mon-Sat? and do you do evening races?
Also, to what extent if at all do you use the Dutching & Bookmaking functions in BetAngel?
-Adam
I use all functions on Bet Angel, well I say all I've just started messing around with the spreadsheet stuff. I'll post more about that when I have done something interesting.
Bet Angel is a "meaty" tool but when you have been in the market for a while you realise why all the functions were created. So I'd recommend trying different strategies on them all.
For volatile rapid markets I prefer to use the one click screen and the enhanced ladder or charting for trending markets.
Do you think you could also publish current bankroll? I see weekly profits but not current status, I assume as the bankroll grows the targets are easier to hit as you can trade more amounts?
Thanks
Hi, I see you make some nice profits from the dogs. Do you trade these aswell? These markets can be very volatile at times!
I really do enjoy reading this blog, it's give hope to us all who think of going Pro.
A number of times during your entries you say you use different strategies for different situations. When say different strategies are you talking about something additional to Scalping. Do you you Dutch, Swing Trade, Lay or use other strategies.
I don't expect you to reveal your settings\configuration\circumstances but I'm interested to know what strategies you use.
"Do you think you could also publish current bankroll? "
Sure, it's been suggested a few times so I will put up a graph of it. Contrary to what you say I find it much harder to work with more money. I'm going to draw down some of the capital as I can't find a way to put it to use. I need to pay myself as well so some cash in the bank will be most welcome.
"I see you make some nice profits from the dogs. Do you trade these aswell?"
Only the televised events where there is some decent liquidity. I am only experimenting at the moment. They don't act exactly the same way as horses but seem decent enough to get something from them. I've messed around on the bags stuff in the past but never made a penny from that, yet.
"When say different strategies are you talking about something additional to Scalping"
Yes, if you just scalp the market its a bit like driving a car by putting it in first gear and forgetting to steer. You will still go forward but you are quite likely to have a few crashes as well! Everybodies style is different so I recommend, as I was taught, to keep good records of your trading each day. You will soon discover what markets and styles work for you. YOu can then start to cut out the big mistakes.
"do you work? 7 days a week?"
No, not at all. I think I would go crazy sat here seven days a week. Besides, I have a family so I doubt they would let me get away with seven days. I will extend my trading if there seems to be a good opportunity.
Hi mate - You have probably said before but I can't remember, do you get involved in the horse markets in just the last 5 minutes or do you get involved before that? I find that prior to 5 minutes the liquity is very poor and the market is very eratic and as such can leave you open to losses.
Keep up the good work - but don't forget to leave some profit for the rest of us ;-)
Leonthefixer
pingback from A beginner using Bet Angel to trade at firedave.blogspot.com
Hi, as an experienced trader, do you have any idea why the markets were awful yesterday (1st April)?? There was plenty of money in the market but still huge spikes, I understand sometimes it can be bookies off loading but every market was lacking any pattern and very jumpy, I found it impossible to trade.
I’m very curious as to how you found yesterday and your thoughts on why the market acted so differently?
"do you get involved before that?"
No, I only really get involved when the money in the market starts to arrive will real gusto. Too early and there just isn't the money there.
"do you have any idea why the markets were awful yesterday"
I can only guess, Peter webb had mentioned in some of his Bet Angel newsletters that the transition to flat and jumps and vice versa are always difficult. He never mentions why, but I guess he has a clear reason. My guess is that during these periods there isn't much betting interest in the market and maybe that is why things are weak at the moment.
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