Something you will very rarely see me do is trade more than 1 runner at a time in a race. My thinking is if you think you know which way it may go why not increase you stake on 1 horse? Sometimes though you can take advantage of more than 1 move and this is such an example. Once you watch this video you may understand why i do not trade more than 1 at a time. Basically because I am not very good at it! But it is what it is.
The front 2 in the market start off at a similar price. Although there are a couple of others that are able influence the market these are all drifting. As always my priority is to find an exit position . If the trade is not going to plan, I need to find a place that will limit my loss and protect my bank. As the other runners in the field at this point do not seem to be moving one way of the other I treat this race as a 2 horse book, My thinking is one will move in and 1 will move out.
My initial position is to place a lay bet ay 3.35 on Lacan. The key to this trade is ifWannabe breaks through the end of it’s range and the crossover. The way the market overall was shaping gave me some confidence that if either of the front 2 (if any) were going to break through the crossover it would be Wannabe.If it did I expected 2 things to happen. Firstly it would quickly move down and secondly that as a consequence of this Lacan would have to drift.
1:45 – Wannabe at last breaks through and i decide to help myself to a few quid. My lay bet on Lacan hadn’t been taken, but the breakout of Wannabe gave me added confidence that it would drift some more. So I move my position up to 3.5 and adjust my potential exit to 3.3/3.35. I take initial positions. You can always add to your position, but going in hard means it’s more painful when it goes wrong. My priory is not to make a huge total, it is not to lose. A small loss is acceptable and happens sometimes. But if it’s under control I don’t worry about it at all. With this style of trading the old saying ‘You have to kiss a lot of frogs to find a Prince” rings true.
Not doing a lot of talking during this, that’s because I am typing and I can’t do both! lol I am just giving some advice in my Mentees Skype room as to this race and potential scenarios.
4:35-4:40 – After it’s brush with the cross over at 4, Lacan looks to be peaking. I decide to take the profit and concentrate on Wannabe – This would have been a better idea from the start.
Pretty soon after I run out of time and close the trade for a combined profit of £75.
Update on Mentorship Program
We are in full swing now and my new group of guys are settling in very well. I can’t tell you how proud I feel when someone tells me they have just have their best ever day or week. Better that that even is the constant results that are being achieved. I am not saying this. They are!
There are limited places left for 28th July, my September date invitations will be sent out shortly before I release it publicly. I have not got any more dates planned after September at this time.
As always I welcome your questions and comments