Racing Trades: Major Change

Let me start by saying thank you to all the people who post on the blog. Feedback wether good or bad is fine by me, If you have an opinion about what I say I am very happy to hear it, and indeed post it. I am not afraid of being criticised if it’s justified.

When I started my blog I had a vague idea of what I wanted to acheive. I had no idea if anyone would be interested in what I have to say, or be interested in advice. It has shocked me how quickly the blog has grown in the 11 days since it started. I have had nearly 1000 unique visitors, which is staggering. My main focus for the blog was to show people who may not usually use a betting exchange, how it is possible to make a steady amount of money, without any amazing skills. Just some rules and common sense. It was never intended to be a “tipping service”. But that seemed a good place to start to prove my credibility. Sticking up your bets before the event is the ultimate proof of if you are who you say you are. If sure plenty of you have come across clueless guessers who want you to pay them for a load os rubbish. Hey, I can give you a load of rubbish for free!!!!

What I wanted to do was to give out some of the trades I do myself everyday. I spent a lot of time writing a pretty comprehensive guide about exactly how you should approach these trades. I post up the prices you should try to achieve along with the exit points. I am a pro trader. This is what I do. I record the prices I get matched at and the prices I close at. It would be incredibly naive for anyone to expect to replicate exactly what I do, otherwise you wouldn’t need me to show you how it’s done πŸ™‚ I can try to guide you, but I cannot push the buttons for you.

I understand it is difficult to get matched at the time I post the bets at around 10:15. At this time the markets are in their early stages of formation. It’s the time I have always stepped in. But please realise, if there are 5, 10,15 or 20? of you all trying to get your money in at the same time, you are not going to get matched straight away. The LAY today, Tidy Affair was 2 actually 1.99 when I typed out the trade and posted it. This immediately went out to 2.24 as people were chasing it up. At lunchtime it went as low as 1.9. If you had chased the price you would be in serious trouble by then. As it happens I called it right and it went out as high as 2.6 at it’s peak.

I want to make you guys some money, so I need to make some changes to the advice. I have no idea if this will effect the profitability of the bets. But my intention is to not release any bets until after 12:00pm. More likely 12:15 – 12:30. This way the markets will be formed and the chances of getting matched at the advised price may be better. Let’s see how it goes. I know we will miss some of the big early moves, but thats the way it goes. So bear with me. I’m trying my best πŸ™‚

Thanks for your support. It’s very much appreciated.

6 thoughts on “Racing Trades: Major Change

  1. Hi Mugs

    I have followed your various interventions and posts on the BA forum for a couple of years now.
    Have you considered just making the blog an educational diary of your trading life. posting selections tends to attract the “lazy” and “greedy” who quickly become the “moaning” and “negative” .
    Where you look for opportunities, why you make the trade, how you determine entry and exit are all fascinating to us learner traders. Good luck

    • That was the sort of plan I had in my mind initially. But to be honest I didn’t think anyone would be that interested πŸ™‚ In fairness, the complaints I have had were out of shear frustration of missing the moves. I understand that, and it gives a fascinating view of how the “whole market” performs. As humans we are scared to death of being left behind. The bandwagon mentality takes over. Then once the shrewd ones step in and restore order the bandwagon goes in reverse and we are back to square one. This happens in every single race to every single runner at some point. As a swing trader, you just need to be walking calmly behind the bandwagon, wait until everyone has got off, and as soon as reverse gear is engaged you have the best seat next to the driver. Then you get off I step before the penny drops, as you have made your profit. That is in a nutshell swing trading.
      Thanks very much for your comment, it gives me confidence in what I am trying to do to know there are guys who ARE interested in the mechanics of a trade, it’s something I will be doing lots more off. I particularly like your “diary” idea. Did you read the Anatomy of a trade page? The Portfolio will be educational too.
      Cheers MG (btw – Love the “interventions” quote. Am I that bad???) πŸ™‚

  2. Sounds like a plan. I will keep a keen eye out. Just wanted to say that it is my aim to one day reach the status of full time sports trading pro and i am self educating myself every day. First of all you comments in the Bet Angel forum and now your detailed views and suggestions here have been a great help in the process i am going through.

    However , i know that i need some specific individual help and guidance to get me to where i want to go. If ever you reach the stage where you are able to offer that then please let me know.

    Just a question out of interest – are you self taught or did you receive ” training ” of some kind from someone ?

    • Mostly self taught, I did attend the PW masterclass about 6 years ago. I was already pro then, but was interested in learning new methods and skills. (As I am now – I still learn everyday and I am a long way from knowing it all) The market changes week by week and you have to evolve, standing still is not an option.
      You have the right idea about training and learning. I watch pretty much every horse race. You cannot help to take in what you see. I keep a track on markets. From when they start to form to when they go in play, right to the end.By the time the live show starts I have a good idea what has happened during the day. I think this gives a big advantage. You get a “feel” for the market. Turning it on 3 minutes before the race starts leaves too many gaps. Ok you may say that with some charting you can quickly understand what is/has happened. You need to understand the mechanics of a market before you can trade it effectively. I’ll be doing something about this soon.

  3. Morning Mugs, I have a couple of great trades going on this morning thanks to learning by studying your past selections and trying to work out what you do – live practice. Its going to be interesting to see the difference switching to 1215 makes.

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