If you are a regular reader of my blog, you will know that I always post something up about Cheltenham. I am almost like the Anti Christ here, and really don’t want to pour cold water on what Racing fans know is the greatest racing spectacle on earth. I am coming at this from a trading angle, not a betting/gambling angle.
So what is “Cheltenham” and why do we hear so much about it?
Cheltenham is an annual event, it runs over 4 days in mid-March. It is the climax of the National Hunt season and if it was held in the USA they would call it “The World Championships”. It is a festival of racing and a massive social occasion too. There is a massive rivalry between the Irish horses and the UK runners. In recent years the Irish have certainly had the best of it.
Why are we hearing so much about Cheltenham? It seems everywhere you look there are people jumping on the “Cheltenham” bandwagon. It’s one of the few times in the racing calendar that the mainstream press mention horse racing.
Bookies have “offers”, mostly to get new customers coming at you thick and fast. A Matched Bettors heaven. I don’t want to drone on too much, so I’ll cut to the chase.
The racing is on the face of it very competitive, big fields and often the favourite is in close to double figures. Depending on your style of trading this can be good or bad. For us swing traders, it’s mostly bad. On the upside, you can get huge amounts safely into the market. But bad, because, it possibly won’t swing 20 ticks.
You will see seeming impossible amounts of money that you are in a queue behind, but this money gets matched much quicker than in a normal race, so it sort of evens itself out.
If you like to turn over large amounts in what can be stable markets, then this is for you. If volatility is what you trade on. Then, by all means, give it a go. But you may get frustrated.
What I am attempting to do with this post is manage your expectations. I guarantee that Twatter, Facebook and every blog you read will be full of stories or daring do and huge profits. For most of you, the week will be a disappointment. That’s because the Cheltenham frenzy has raised your level of expectation so high that it will be almost impossible to reach.
Enjoy the spectacle, it’s the best week of the year, but it’s not all about money. The fear of missing out will rear its ugly head for sure over the next few days. Go in with low expectations and it will be more enjoyable.
Just a quick note to say we still have a couple of places left on the next Workshop on 26th March. You can book here http://www.itsamugsblog.co.uk/2016-racing-workshops/