Racing Trades Friday 3rd May – No Video

Hopefully you saw my Tweet last night regarding me not being able to post up a Racing trades preview today. I have some family commitments that require my attention so unfortunately I will not have time this morning to record the video.

Hopefully you will be able to put into practice some of the skills you will have picked up from watching the videos. Good luck if you play. Go steady!

Back tomorrow with the video as usual. I will be back trading this afternoon and may have a pre race video.

 

Cheers MG

7 thoughts on “Racing Trades Friday 3rd May – No Video

  1. A good morning to be on other things I think. Rubbish volumes generally and nothing worth taking a price on IMHO.

  2. Hi
    I couldn’t see much either so am having a day off aswell. I thought there were a couple of trades to be had in the first few races so I observed them instead of trading…and they were all over the place. One was coming in then suddenly drifted while drifters became strong. After that I thought it best to leave well alone today before I lose anything!

    I have a question MG concerning the way I am trading. If I trade pre-off, which I am trying to do, do you think the way that you look at the races applies to the 10 minutes before the off aswell? At the moment I seem to find a selection worth trading in most races but normally they go up and down a lot. Not like in your vids which seem to go nicely down. You attach a lot of weight to volume, but in the 10 mins before the race, most races have good volume so what else should I look for to determine if a race is good for trading…or not?

    Just one other thing…as a new trader, how many races a day do you think would be suitable to trade, say as a percentage because I have a feeling I am doing too many and picking hard ones. Hope you don’t mind all these questions…ended up as more than one!

    • Hi Chris, You need to separate the 2 types of trading completely. The morning trades as in my preview video have similar characteristics in some respects, but are not the same. Have a good look through my videos (btw they don’t always come in 🙂 ) There are a few howlers in there too. They mostly come in because I am carful about when I enter the market. The morning trades are based on volume, trends, overall assessment of the market, ie only 1 horse moving in & bookmaker odds. The pre race “live show” trades are much more complex. The range of odds are different. I only trade horses under 4, I am looking at the market and constantly assessing what is happening. I want to isolate a horse that is either going to drift or steam in a swing. I look at traded volumes, resistance levels, momentum, breakouts, It all happens very quickly.
      My advice would be stick to the races where the odds are lower, take your time and try to identify “easy” markets. There are somedays when I only trade 1 or 2 races this way.I’m more interested in quality than quantity. What’s the point in winning on 3 and losing in 20? I think the main difference between a pro trader and a non pro is discipline.I have the luxury of being able to pick and choose my trading races. If you’re at work all day, then only get a couple of chances to snatch a few hours trading it can be demoralising watching race after race where you have no interest.
      Hope this helps Chris – MG

      • Thanks MG, that is very helpful. I will try and be much more selective now when trading pre-race and hopefully find more winners! Maybe this subject would make a good video for you to do…i know I could do with some advice on this sort of trading so others may be interested too.

        • Hi ALL.
          I have decided that i need to take a back seat for a couple of weeks .maybe a month,my problem is that i have no disaplin,shit i cant even spell the word.
          over the last three years ive lost approx 10.000 trying to trade ,ive come a long way .and i know i can make a living from this if and when i get a cool head for trading.one medium loss of fifty or so and i lose the plot ,take chances ,do stupid things like back to lay in running etc etc,problem is i only have one day off from my shitty low wage paying bar job ,and all week im dying waiting for my trading day,all full of ..MAKE MONEY IN THE MARKETS.trying to make the things happen.instead of waiting for the market to come to me,i need to get my head in a better trading place,
          so ill wait a couple of weeks put in another 500.and hopefully have a better approach.psycholagy (cant spell that either) is such a big part of this game.
          mugs thanks for all,,keep up the good work.and ill catch up with u all in a couple of weeks time.
          Marc

          • Marc

            I’m a new trader like yourself and what I have learnt and leart the hard way is that it’s a marathon not a sprint

            I was making steady progress last month and was making close to £100 a day which I was thrilled about.

            Last week I went on a serious tilt and blew nearly a grand chasing the profits which I had seen the previous month! Why? The fundamental reason is discipline!! I would forgo a nice green just to try and squeeze an extra tenner out of it and end up with nothing! Greed is the killer in this game and you hear of MG talk of it in his videos! He is a pro and still has to fight off the greed for more! But that’s why he is a pro, because he is disciplined and knows when to get out!

            Reload your betfair account and grow it slowly using small stakes! Don’t aim for crazy profits each day! £33 quid a day is a grand a month and that is achievable with a relatively small bank! Cash out any profit for the day and start the next with the same bank, this will save you from getting carried away on stake size!

            Good luck

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