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So this has been fun. An article earlier in the week in the register turned me on to this. I thought I would share what I have been through so far.
I started on Monday night trading on horses. I managed to make £20 off a £25 bank - this was not because I took to trading, it was because I didn't manage to lay a horse I had backed and ended up winning it on a punt.
Oops. Other than that I have no idea what I was doing for the night, mostly just a series of random clicks that seemed to result in a profit 75% of the time.
Tuesday morning I had another go and once again lucked out. I was trading from a wireless connection on the train and once again didn't manage to lay a previously backed horse when I went under a tunnel and again managed to bag the race.
Tuesday night I tried again and managed to burn through a fiver. Can't win em all, eh? Shut up shop and started reading up...
The next morning I was armed fresh with the knowledge that I should come in about 10 minutes before a race, go for the narrow differences between the back and lay odd and place the bet in a "short queue". So I tried and 2 hours later had blown through another £10.
I had been using a bet devil trial - it seems great. The problem is, I think it may be a bit too easy to use. I found myself giving control (what little control I had) to the software. I wasn't learning anything.
So I had a go with Geek's Toy. I don't think it's necessarily more complicated, but the way it's setup it seems to force a newb like me to actually read the manual and I have found myself actually learning about trading rather than just learning about software.
The learning curve was(is) still pretty steep and the losses came pouring in last night. But this time I was actually starting to get to grips with why I was losing.
I had a fairly free day today so I thought I'd have a go at the UK markets. My experience so far contradicts the advice provided in alot of articles. Where I would come in around the 15-10 minute mark, I would find the queues wayyy to big and by time by bet was taken and the automatic 1 tick thingy kicked off, the odds were pretty far against me and again I hit mostly losses.
I started playing it safe this afternoon and played resistance points about 25 minutes before the races started and seemed to be in the green within the 10th minute of the race where, at least at this stage, I was happy to get out with a very small profit. Playing this way I have yet to make a loss, but I can see myself quickly running out of patience with this.
This of course does not seem to be the case at all in the US markets where there does not seem to be any clarity until roughly 3-4 minute before the race starts. Again resistance points seem to work well for me here and I have once again not managed to lose when sticking to this (impatience later on and ignoring the clock has, however, hit me a few times tonight).
Oh yeah, only using 1 tick with minimum stakes.
Anyway, not looking for advice - i don't think I'd understand it anyway. I know 500% more than I did Monday night and probably have another 1,000,000% to go. I'd say about 5% of what I have learned has been from forums, blogs and videos, the rest has been from making valuable mistakes - and using The Toy.
Enough of this - I've got 5p to go make.
I started on Monday night trading on horses. I managed to make £20 off a £25 bank - this was not because I took to trading, it was because I didn't manage to lay a horse I had backed and ended up winning it on a punt.
Oops. Other than that I have no idea what I was doing for the night, mostly just a series of random clicks that seemed to result in a profit 75% of the time.
Tuesday morning I had another go and once again lucked out. I was trading from a wireless connection on the train and once again didn't manage to lay a previously backed horse when I went under a tunnel and again managed to bag the race.
Tuesday night I tried again and managed to burn through a fiver. Can't win em all, eh? Shut up shop and started reading up...
The next morning I was armed fresh with the knowledge that I should come in about 10 minutes before a race, go for the narrow differences between the back and lay odd and place the bet in a "short queue". So I tried and 2 hours later had blown through another £10.
I had been using a bet devil trial - it seems great. The problem is, I think it may be a bit too easy to use. I found myself giving control (what little control I had) to the software. I wasn't learning anything.
So I had a go with Geek's Toy. I don't think it's necessarily more complicated, but the way it's setup it seems to force a newb like me to actually read the manual and I have found myself actually learning about trading rather than just learning about software.
The learning curve was(is) still pretty steep and the losses came pouring in last night. But this time I was actually starting to get to grips with why I was losing.
I had a fairly free day today so I thought I'd have a go at the UK markets. My experience so far contradicts the advice provided in alot of articles. Where I would come in around the 15-10 minute mark, I would find the queues wayyy to big and by time by bet was taken and the automatic 1 tick thingy kicked off, the odds were pretty far against me and again I hit mostly losses.
I started playing it safe this afternoon and played resistance points about 25 minutes before the races started and seemed to be in the green within the 10th minute of the race where, at least at this stage, I was happy to get out with a very small profit. Playing this way I have yet to make a loss, but I can see myself quickly running out of patience with this.
This of course does not seem to be the case at all in the US markets where there does not seem to be any clarity until roughly 3-4 minute before the race starts. Again resistance points seem to work well for me here and I have once again not managed to lose when sticking to this (impatience later on and ignoring the clock has, however, hit me a few times tonight).
Oh yeah, only using 1 tick with minimum stakes.
Anyway, not looking for advice - i don't think I'd understand it anyway. I know 500% more than I did Monday night and probably have another 1,000,000% to go. I'd say about 5% of what I have learned has been from forums, blogs and videos, the rest has been from making valuable mistakes - and using The Toy.
Enough of this - I've got 5p to go make.
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