Thursday, 19 June 2008

Off to watch the football!

Daily Profit £21.78

I traded 5 races tonight and never came close to picking a winner. I made 2 profits of just over £10 each by laying in running on 2 of my riskfree bets and I've called it a night.

Away to watch the football.

At some point soon, I'm planning on writing a blog post concerning how I trade a race as I have a had a few nice comments recently from people commenting on my strategy. I'd like to share a few thoughts on here with you all.

5 comments:

Anonymous said...

As a full-time trader I'm looking forward to your thoughts, Graeme. Enjoy the footy.

Jay Trotter said...

Hi Graeme - Glad to see your confidence is returning and you are once again making money.

I also look forward to reading about your strategy as it appears during the week you mostly trade the evening meetings. I was wondering how you did that with the general lack of liquidity and volume compared to the afternoons meetings.

http://betlaycollect.blogspot.com

Jay

Graeme Dand said...

Hi guys, cheers for the comments.

Jay, I don’t have much choice about when I can trade mate as I work full-time from 9am to 5pm and I work outside of Dundee in Perth, so by the time I make it home in the evenings, the afternoon racing is well done for the day!

I do trade afternoon racing on a Saturday most weeks and this is quite enjoyable. I do find the Saturday markets more difficult to understand though due to the higher liquidity and I prefer races with lower liquidity as you get larger swings in prices which suits my style of trading.

When I discuss how I actually trade, I’ll try to talk through an example of a race and what I do. I think it will surprise most traders who read my blog as I probably break every rule in the trading handbook (if we had one!) but I think my strategy works for me and would probably work for others if they had the patience to practice it and learn it.

Appreciate your comments and I’ll try to do a post this weekend about how I trade.

Graeme

Iranian Giraffe said...

Hi Graeme, good to see another profitable day for you.

My Internet updated itself yesterday so I was back up to 0.5meg (gone upto 1meg today) and so able to get a fair few races in for a profit of £17 or so not huge but a profit is a profit.
Regarding your last comments I didn't realise you were just using the browser screen, I also don't use the ladder interface in BetAngel as to me you need another screen with graphs or the actual prices of other horses etc to make the correct decision and at the moment I don't have that. I tend to just use the 1click Bet Angel screen (one which looks like normal Betfair site) and then also use the manual betting screen so I can put in the prices I want, I then use the trading profit calculator to green/red up the current selection when my bet has been matched, I also use the bookmaking option sometimes in other sports/markets.
From reading your blog it appears you back a horse at a price and then use a stack and then lay the horse at a lower price but unlike me still use the same stake so if you backed a horse for £100 at 20 and then layed the same horse for £100 at 18 then you would have a £200 risk free bet on this horse and then you lay the horse at lower amounts so hopefully you rake the money in if it has a decent race, (although obviously thats just the way I've read it at the mo and when you get the chance to post how you do trade how wrong I've got it lol), for the last 4 or so races I traded I decided to paper trade the selections that I traded on and out of the 4 races I would of made £12 or so profit (doing the above of what I think is your way of trading) by laying at a lower price IR, (I did check to make sure the prices would of been matched and that a price below had been taken to make sure that my price would of been taken), so if I get the chance today I'm going to try and paper trade my selections again today using the above method and see how I go from there.
good luck if your trading today

cheers
Mike

Graeme Dand said...

Mike,

I've no need to write that post now mate as you have my trading strategy down to a tee! 100% perfect in fact.....

Obviously, the only other thing to add in to that would be judgement about what price to lay at in running and obviously, it helps to be able to trade a horse that is going to run well so you can green up in running.

I look for things like front-runners and well handicapped horses who are likely to place as these are the ones where you make most money in running.

Would be keen to see how you get on with paper playing this strategy as I'm sure it would work for everyone and not just those who know stuff about horses.

Let me know how you get on.

Graeme