Racing Trades: 7th March – Evening Update

Back2Lays

2:40 Carlisle: Rudemeister 4.1 stop loss at 5.1

3:55 Southwell Derby to Dubai 5/2: 3.4 stop loss 4.3

4:20 Carlisle: Teenage Dream 5.5 stop loss 6.8 – Don’t take less than 5.5  – I have some money left in queue. If it’s not all matched it’s a NO BET

If you want to see how to get the best out of my trades see HERE 

Evening Review:

After yesterday I was very cautious this morning. This is the sort of thing that affects us as traders. Confidence. I could do no wrong on Monday, and as a consequence I was over confident going into Tuesday. The result was losses. Then today my cautiousness cost me in the trades I had penciled in but discarded. This is a vicious cycle in most mortals trading. When you have losses you cut your stakes, the bets win but because of your lower stakes you do not win as much as you should. As punters/traders I expect every one of you reading this can identify with this behaviour. The point of me telling you this, is I wanted you to see even as a Pro these “demons” affect me too. Anyway, on with the days business.

1st up was Rudemeister, an uneventful sort of runner, was steady until live show, then drifted a few ticks. My “here we go again” bells were ringing, it eventually came back to scratch where I gratefully closed. Ran a decent race to finish 2nd.

Second trade was Derby to Dubai,. When I switched to the race and saw it hovering about our stop loss position I was gutted. It was really strong earlier and had moved in quiet a few ticks. Into the SL for max loss.

Last of the day was a real get out of jail free card. I thought this weakest of the 3. After an initial drift back this morning it really flew during the last 5 minutes. At 4/4.1 it really stalled and I thought it was time to close. I managed to get 4.2 for a nice £30 win. It leaves us with a small profit on the day and we live to fight again.

4 thoughts on “Racing Trades: 7th March – Evening Update

  1. Morning S

    Today is an other day eh! Onwards and upwards….Looksa as if K Ryan is having a go with DERBY TO DUBAI shortening again as i speak,got a bit greddy recently might not with this one..any thoughts on a exit price??? im THINKING 3.0 if resistance.
    Not keen on your Rudemiester ( but we cant all agree or there wouldnt be exchanges) …
    A little titbit to share with you and your followers , I like PINEROLO C14.10 to get the day off to a good start.Big brute of a horse that will make a good chaser in time, is fresh today ,stable in form and some nice money arround .Looks a top E/W bet for me,and will be at the front for sure with Valleyofmilan i guess( could nick a few more ticks)
    Expect this one to go low and at 6.4 i am and have been filling my boots …

    Keep up the good work ,and please turn the sound on today..LOL

    Cheers

    JD

    • have’t a clue about Derby to Dubai JD. I got too greedy with Weekend Millionair yesterday, could have had 3.6 and I thought it was going odds on lol.I wanted to LAY Aryal in that race, but the odds were gappy and I knew you guys wouldn’t get on. So D2D looked a good alternative. I was right about Aryal, its very weak, possibly in the face of the strength of D2D. You may be right about Rudemeister. Some I get wrong, as you know it’s the overall Profit at the end of the month that counts i guess. I am hoping the guys following me are picking up some good tips how to trade these too. A tip is only good for a short time. Any experience gained, wether that is good or bad will stay with you for ever. You can then take that and apply it to your own strategies then. GL with your selection and thanks for the heads up.
      The sound issue was due to my mic. Got another one now so we are in business for laters cock up show 🙂

  2. morning mugs,
    just like to say your a top man,as a novice trader only been trying for 13 months now with the help of bet angel,its great to watch you and see you have the odd bad day,i have thought on several occasions,thats it i have cracked it only to have one or two bad days,then my mindset alters,and i alter things,am going through a good spot at the moment,but just waiting for that bad couple of days to alter my mindset,i know that the way we think as a species makes us risk averse and we can soon talk ourselves out of things,the amount of times i have cut myself out of trades because i convince myself they are going to turn drives me mad,so it is reasurring to see im not the only one.i try and educate myself by reading and the latest book i have read is thinking fast and slow by d kahneman it may help some of the newbies im hoping it is going to help me lol
    good luck because we all need a bit of luck sometimes,
    peter

    • Thanks Peter. You are correct of course. Most of the issues we face as traders are in our heads. I have been at this a long time now. I still doubt myself. Take the racing trades I put up daily. Monday was 5/5 £115 profit. Couldn’t do anything wrong. Yesterday the arse fell out of it. 4/5 bad and a £50 loss. I didn’t change anything about my selection process. Today I am very nervous, my confidence is low and as a consequence I have changed my mind about 2 or 3 trades. They have all moved in. That’s down to confidence and the demons in my head. This game is very simple. Odds move in 2 directions, but we do everything we can to complicate matters. We all believe it’s much more complex than it is. Hoping our luck comes back today lol.

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