Sunday, 13 June 2010

In-play mistakes never go my way!


I briefly calculated that I've lost about -£200 in in-play errors now; an expensive lesson indeed!

Today's gaffe was a £100 back stake matched just before the off in the 14:55 at Doncaster. The horse, Tudor Key (hotly backed at the time) fell out of the stalls and ended up at the back from the off. Curiously enough, I've never greened up in-play for £60! One of these days it may go my way!!

I had the live pictures on too but the camera was in front of the stalls instead of behind. Big mistake. If I've got pictures I like to do a couple of last-second trades but I really gambled this time and for what? The chance to make a couple more pounds.

So across 9 races I made -£7 per race. Whoopee-do!

Whilst there is a lot to be said for getting out at 0:00, I am actually in the process of getting my kit set up so I can have ATR and Racing UK beamed into my view simultaneously aswell as a tennis / football feed so I don't have to channel-hop quite so much. I think you will benefit in the long-term by having an eye on the off times as so many things can throw off the schedules and it can sometimeshave a knock-on effect on liquidity in the next race. Besides, lots of opportunities present themselves when you keep an eye and ear out on-course.

I just have to be more vigilant in future.

9 comments:

  1. Hello great blog, really enjoying it, can i ask for some hints and tips about getting into using a toy?? i am very aprehensive about starting thinking i would loose money quickly in not knowing what i am doing, how did you learn with yours? was it costly

    Cheers

    footballnotsoccer2@gmail.com

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  2. Hi, thanks for stopping by! :)

    The Toy is free software so anyone can use it. I imagine that you just use the Betfair site at the moment?

    I had used other trading software previously so The Toy wasn't foreign to me. You can configure it to look like most of the popular ones anyway.

    I suggest downloading it and having a play with 10p stakes or something.

    Cheers!

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  3. lots of pro traders use the toy now, it really is a good piece of software. I wouldnt advise using 10p stakes though, as each 10p bet uses 3 actual bets to place, due to the minimum stake on betfair being £2, and u may end up with data charges. If you play about with £2 stakes for a while you are not going to lose a fortune.

    I dont think you will ever green up in play for £60 Mets. For that to happen all the other horses in the race would pretty much have to fall over when leaving the stalls. You are obviously not going to hang around waiting for a £60 profit in play either, you are going to be out for a small loss or break even if you are offered the opportunity. Do you use the Take SP at in-play feature? Its a useful trick if you are trading close to the off, or did u not even manage to get ur closing trade placed before the off?

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  4. I didn't know about the possible incursion of data charges off a 10p stake - crikey!

    I might have greened up if I'd had a lay bet on since it started so miserably but that wasn't the case this time grrrr! I didn't get chance to trade out because I was looking at the numbers and not the stalls. That'll learn me!

    Does the Take SP at in-play automatically place a back bet at the off or something? I've never really understood what that feature was all about.

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  5. Betfair themselves offer SP prices, so if you convert ur bet to Take SP, then it will be taken at the SP price that is offered by betfair. It should only be a tick or too off either way so u wouldnt lose £60 :p

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  6. Cheers Neil. I need to look into this more closely to see if it will benefit me in sticky situations.

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  7. Should have a look at Bet Angel I think most the pros use that for trading

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  8. Be careful with Take SP - only use this when you're using proper size stakes. If your liability is less than £10 then it voids the bet.

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  9. Oo-er! Cheers for the info firedave. I guess you found out the hard way?

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