Crazy £5 Challenge.

[skit]

on US racing its all scalping with small stakes with the occasional swing trade.

How do you know when to close? Keep up with the betfair time? Or do you watch some stream? My biggest issue since they seem to be delayed quite a bit and don't go live.

[Cran]

How do you know when to close?

Only trade races where you have a live feed, and check the clock on the feed against the clock on your PC so you know what delay there is.

ATR / BF live video covers some of the races, Ladbrokes have a feed (possibly the same races as ATR but haven't checked) and there's some US feeds you can hook into.

If in doubt about the delay get out when the horses start arriving at the gate.

And ignore the prices shown at the track, if a horse is 2-1 at the track and 8-1 on Betfair it's just as likely to drift as it is to come in... the track prices are about as useful as a chocolate teapot.

[skit]

I usually just close out a while before the 0 on betfair but I have noticed I lose a LOT of market movements/liquidity after and that's why I was curious about the best way to control that.
Thank you.

[Cran]

I usually just close out a while before the 0 on betfair

That's quite risky as they can go early as well as late...

[Keefter]

I concentrate on only whats on ATR tbh with the Yanks. you can use EPSN horseracing website to get live feeds in Flash if you want to make sure you arent shafted during an ad break.

[skit]

You can use EPSN horseracing website to get live feeds in Flash if you want to make sure you arent shafted during an ad break.

Thank you. Problem is video is limited to 30 minutes per day there. But that's good enough for me and for everything else I'll just use betfair's live video. I still need to "measure" the delay though.

[Keefter]

funny sort of a day today for a Saturday. The crazy and disturbing scenes we all saw at Newbury kind of put a downer on the day. But down to 3 UK meetings and an Irish I plugged away. I tend to concentrate my efforts more In Running on a Saturday and there are some fairly big swings in my P&L, for the vast majority of the afternoon it seems to be decent win followed by biggish loss. I finally managed to get my act together and pulled a few good esults out of the bag towards the very end of the day. I'd have much preferred a more consistant P&L which was £50 less if I'm honest. nonetheless under the circumstances not too bad an effort.

Oh and I convinced myself that the Madchester derby would be a 0-0 draw, £2.50 down the pan, hey ho!!

New Bank: £706.63

[kawasaki]

boring. go do it again from 5$

[BruceLee1973]

WOW what a thread,dont suppose I can give you a fiver could I, with me its the other way around

[Temujin]

WOW what a thread,dont suppose I can give you a fiver could I, with me its the other way around

You put a fiver in and lose 700? Whoooaaa.. Bet Betfair hates you.... )

[BruceLee1973]

You put a fiver in and lose 700? Whoooaaa.. Bet Betfair hates you.... )

True they do but things always work out for the best in the end.

[PC0845]

Mr Keefter, if you are trying to make the rest of us feel insignificant and inadequate you are certainly succeeding with me. You must surely have a lot of knowledge of running patterns to be able to trade in Play, yet you are trading almost every race. Astonishing and impressive.

[Temujin]

I am for certain that is not his goal... Sometimes we just need a break, and a play. Not to mention this is the loneliest (up there, at least one of) job in the world, so why not share shit with your peers....

While (apart from my current loss of both my testicles and shirt so far this year) I make reasonable living?, I do agree that this sort of thing is making me feel inadequate... I did actually make a video the other night, and whilst the profits actually ended up being not too bad, I deleted it since some bastard made around the same using a fraction the stakes that it took me.... )


Seriously though, there are mixed messages here, as there is with everything. DO you take it to mean you can start with nothing and make a killing? Or do you take it that to enter this game you don't need to mortgage your house...??

Personally, I commend him on this thread. I doubt anybody, he included, expected anything like this. Just goes to show, that discipline, variety, can go a long way. Not all about the bank roll....

[Keefter]

a weird and contrasting couple of days. Sunday was a nightmare, one of those days where every trade you did went against you. I eventually clawed back level and then got my head in front but it was a shocking day and I didnt feel as if I'd achieved anything, with that in mind I was bit better focused today and took a much more slow and steady approach. This is the PnL for the 2 days. I havent bothered printing the whole of it, sunday was loss loss win, loss loss win. luckily the overall wins were more than the losses in the end but it could easily have been a losing day and probably should have been, i was truly awful.

This takes me passed the £1k mark. I never keep much more in my account than that apart from big meetings so theres not really much point in continuing this thread as its just going to become me posting my P&L every day which is boring as hell. Or maybe I should withdraw all bar £50 and start over tomorrow?? :P

[Keefter]

Mr Keefter, if you are trying to make the rest of us feel insignificant and inadequate you are certainly succeeding with me. You must surely have a lot of knowledge of running patterns to be able to trade in Play, yet you are trading almost every race. Astonishing and impressive.

I do look at running styles and form for most races, but most of my money comes from simply scalping and hedging and doing lots and lots of little trades per race. occasionally it all goes wrong and you get a few losses. Its like I said in an earlier post, if you do something enough you will inevitably become good at it. most people give up trying after a handful of losses.