Crazy £5 Challenge.

[johnnnson]

Hello...

First of all let me say that you are a really aspiration for any wannabe trader! Thank you for that..

Which stakes are you using? And what type of trade do you make? Favourites?

Good luck and keep it rolling!

[DarrenMoore488]

Reading this thread after The Geek brought it to attention via Twitter. Great stuff Keefter just like to say well done, saying nothing new here, but it's clear to say you obviously have a great talent and know your stuff.

I'm a bit of a slowcoach, I was quite proud of turning 500 into 3k, but that took me two years

Definitely WELL DONE, and likewise I wasn't aware until it was mentioned on twitter.
My money (tiny amounts!) comes from the recent Tennis but also Football lay bets which I trade out when I can green 60%+ and 2 or 3 horse racing bets per day.
The Football covers my horse racing losses

[darrenjhill]

Update. This is from yesterday and today/this evening. tomorrow will be a well earned rest day, though I may take a look at the evening racing.

I've cut my bank back to £200 and will grow it through this week.

Profit so far: £1266.07

Wow, just like many people on here before, I am in wonderment of your achievements. I only make a steady profit each night Which after the losses of 2010 is a great step forward for me. I trade ir but scalping is a complete mystery to me, I always (80% of the time) get it wrong so I stick to ir in the place market. What I like about a thread like this is that everyone can see somebody make really good money yet they dont win on every trade. A lesson there for us all.
Well done

[XenoMorph]

Got here via Geeks tweet also...

Let me just say that I find your results truly amazing! Congratulations!!!

Now, how about those vids?

[shadowninja]

What size profit and loss are you aiming for in terms of ticks?

[Keefter]

Thanks for the congratulations guys. Alot my profit (and losses) come by way of IR, I've been trying to switch my trading to more Prerace and less IR but right now its about a 70/30 split in favour of the In Play trading.

It doesnt take a genius to work out from looking at the screen shots of my P&L that IR markets come with a much higher level of risk, and there are plenty of minuses there to illustrate that.

Building a bank from next to nothing isnt that difficult if you're prepared to put in the time. When I started out all I used was a £50 bank, and when my balance got to £100 I'd withdraw £50 and start again, I did that for a long time, and I had to replace plenty of £50 banks along the way. If you want to build a small bank quickly you need to be prepared to firstly sit for literally hours on end waiting for decent opportunities and secondly be prepared to take some risks along the way. with a bank of £50 you could try looking for swing trades on the favourite, but the favourite is usually at a price where a few ticks with your full bank will not result in much of a profit.

My advice to small bank players is to look at higher priced horses, and try to avoid the favourite if you lack experience, The noise in the market and the level of manipulation will result in most you being tricked into taking a few ticks loss alot of the time.

I'll try to get camtasia set up so that I can show some IR scalping, I'm not doing anything special, just trying to expose the gaps the market, if there are any and get in and out quickly.

Its like anything, if you do something enough you will inevitabley become okay at it and then eventually good at it.

Plenty of people will disagree with me on this but for what its worth: Traidng is simple, no need to overcomplicate matters, you back higher than you lay or vice versa. I've never looked at a chart or used a stop loss or any of that.

[Keefter]

Hello...

First of all let me say that you are a really aspiration for any wannabe trader! Thank you for that..

Which stakes are you using? And what type of trade do you make? Favourites?

Good luck and keep it rolling!

well I started with £10 and by Saturday had a bank of £600ish so obviously the stakes varied a great deal between those two points. I wish I could tell you I had the answer for the perfect stake size but truth be told i kinda just decide on how i feel, theres never been any great structure to my staking, just depends on how confident i am about a move. What I will say is that in the small balance days I'd think nothing of using my full balance in a Prerace trade. you want to grow your bank you have to be prepared to take some risks. IR I never ever use more than £25 but mostly £5 and £10 stakes, but do often cover more than 1 runner, which is why you'll occasionally see largish losses in my P&L

Prerace I tend to steer clear of the fav, I like crossovers, in particular 6.2/6.0 and 10.5/10.0

[Keefter]

Wow, just like many people on here before, I am in wonderment of your achievements. I only make a steady profit each night Which after the losses of 2010 is a great step forward for me. I trade ir but scalping is a complete mystery to me, I always (80% of the time) get it wrong so I stick to ir in the place market. What I like about a thread like this is that everyone can see somebody make really good money yet they dont win on every trade. A lesson there for us all.
Well done

Anyone can do it. I firmly believe that. you just need practice, lots of it.

[Keefter]

What size profit and loss are you aiming for in terms of ticks?

depends on the trade, I often take 1 tick, sometimes i try to hold for more, it really does depend. I think you nee dto be adaptable, a one size fits all approach never really work for me.

[shadowninja]

depends on the trade, I often take 1 tick, sometimes i try to hold for more, it really does depend. I think you nee dto be adaptable, a one size fits all approach never really work for me.

Thanks, just wanted to know roughly, as if you are trading in-race, you could grab 30-40 ticks I should imagine.

[Keefter]

Some updates. Firtsly I took yesterday afternoon off but traded the evening racing and then quickly wished i hadnt. see the screen print of how not to trade. I wasnt in the mood tbh and made some very bad decisions, In the very last race of the UK cards I managed to get a few quid on the rank outsider in a NHF race and it won very easily winning a decent amount, I decided then to have a crack at the US racing, the first race I traded the fav which was smashed in the betting and clearly well fancied, so I took a flyer and left my green. it won. ATR decided to try to cover 2 races going of at the same time and whilst i watched my free bet come in at track 1 track 2 jumped with my £20 stake which was instended as a trade still on, that one won as well. So in the space of half an hour i wnet from big red for the day to small green. like i said, how not to do it. I'll take it but make no mistake, yesterday should have definately been a losing day.

Profit so far: £1328.96

[Keefter]

This one is a little more straight forward. Good old Wednesday Oz racing. a recurring theme in my Oz racing is always a handful of losses at the end of the morning, I guess that liquidity might dry up or i might get a little tired or a bit of both.

Profit so far: £1542.73

[shadowninja]

I'll take it but make no mistake, yesterday should have definately been a losing day.

Yeah, for anyone else who doesn't have that Keefter magic, they'd be staring at a big, fat loss. Can you send me a photograph of yourself so that I can stick it on my dartboard.

[pxy2d1]

Keefter, also pointed here from geeks tweet, looks great.

couple of questions from a noob.

What software do you use while trading?

When you are trading in play do you always have a live feed, and if so how do you know you are not viewing with any lag.

Thanks

[Keefter]

Yeah, for anyone else who doesn't have that Keefter magic, they'd be staring at a big, fat loss. Can you send me a photograph of yourself so that I can stick it on my dartboard.

lol - sometimes you just get a lucky break. If that hadnt happened I'd have taken the loss on the chin, I wasnt chasing the loss at all either and my stake was very small for the big win in the bumper, I'd chalk it up to a bit of luck. Such is my style of trading that I have to accept that losing days are going to happen and as hard as it is i try to view my P&L over a period of weeks and months rather than daily.