Racing Trades: 6th March – Evening Update

Have you read how to get the most from the trades? Link HERE

Back2Lays

2.30 Lingfield: Quality Art 7/2 / 3/1 – 4.2  stop loss 5.3

2:50 Catterieck: DiGigi 7/2: 4.6 stop loss at 5.7

3:10 Fontwell: Weekend Millionaire 4/1: 5.0 stop loss 6.2

Lay2Backs

4:10 Fontwell LAY Lienosus @ 1.77. stop loss 1.66

5:20 Catterick: LAY Je Taime: There is VERY LOW liquidity in this market, I have money at 2,76, I will be not moving it, so if not all matched it will do down as NO BET. The next price is 3 so no point in taking a false price.

Evening Review

There are some days you just want to forget. This is one of them. If it could go wrong it did. Lets start with the trades.
First up Quality Art, spent most of the afternoon about where we backed it. There was a withdrawn horse, which had a reduction factor of 5.7%. This means all the prices of every runner are reduced by this percentage. There is an explanation of this in the Jargon section. nearing the start it drifted slowly and I closed before the Stop loss. I am not sure all of you would have, so it goes down a max loss.
2nd horse was Dgig, Another horse that drifted back after an initial steam, it was clear it wasn’t coming back so I closed before the stop loss at 5.4.
Weekend Millionair was a huge mover earlier. At lunch it hit hit 3.6 (from 5) and was at that time the gamble of the day. Bounced back and like many of you i guess I was kicking myself for being such a greedy b******. I closed at 4.4 for a modest profit.
The first LAY was at Fontwell. Lienosus looked to be very weak this morning. However it was very strong in the shows and steamed into 1.58  Another max loss.
Lastly was Je Taime. the market was very thin this morning. I should have walked away from this. It  didn’t hit the stop, but was close. Another big loss.
Overall 4/5 bad trades. A total loss of £50.45. The only bright bit of news was the £115 from yesterday lessened the impact. Tomorrows another day.
No videos today. I recorded a few, but when I came to render them I discovered no sound. I have no idea why. Best forget today. I am tunring all my positive energy onto tomorrow.

11 thoughts on “Racing Trades: 6th March – Evening Update

  1. Kudos for honest postings on the not so good days, its all very useful information for lesser experienced traders and also highlights the need for discipline and sticking to your staking rules.your bank lives to fight another day! Good luck tomorrow, great post.

  2. Hi

    I am trying to get into trading like this,i really like your blog but i am a novice.

    Can you explain about your graphs and what they indicate,obviously it can steam and drift..but what do the grey spikes in betfair graph indicate?

    Sorry for silly question

    • Jim, it’s certainly not a silly question. To explain it better I have made a video for you HERE. WARNING – “This video contains a serious amount of waffle” Cheers Jim – MG

  3. I found it to be a educational day as although I know it was not the plan, it created the scenarios were I was in a negative and needed to get out!
    I found myself remembering what you had said on previous videos, “You dont have to stay on this side” and “Trend is your friend”
    So I had a go, and though I still lost I did manage to reduce my losses to £23. and the experience i gained will hopefully stay with me for my trading future.
    Thanks! Mugs

  4. Craig, Sorry you lost mate. Well done on your loss reduction. I’m really pleased that some of the waffle i spout actually means something to someone. These lessons in the “early” days are vital for growth and understanding of what’s happening. My trades are partly to help make some money, but I think you have it spot on with what your saying about learning. If you feel the pain of losing it certainly helps you to remember lessons learned from the past. Hopefully not to painful. Remember, you are only lending that money to them. It’s coming back soon ! Cheers MG

  5. just one thing mate,the grey volume spikes,can you confirm are these represented money thats matched? or money that has entered the market,so we could possibly see a huge amount of spoof money a few ticks above current price?

    • It’s matched amounts. You will see any money waiting to be matched (possibly spoof) but without the context of the market it’s hard to tell. You will see in my videos i regularly point out what I think is spoof or icebergs/roadblocks. The amount with the blue nd pink areas on the 2 left hand columns are money waiting to be matched.

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