Friday, 11 March 2011

Living on the edge


I upped my stakes in-running today. Admittedly, I made a few mistakes and was fortunate not to get stung.


It's easy enough to get caught up in the heat of the moment, especially when there is a lot of activity in the market towards the latter stages of a race.


I've been concentrating on a couple of new in-running strategies (well new to me). I think I'll be leaning more towards in-running trading in the future, as the frenzied action suits my style of play. I find it exciting, and greening up some decent amounts is ultimately more satisfying than "scraping a few quid" pre-race. I've probably peaked at pre-race trading now, and I find it too stressful to be bothered looking for new strats. All that second-, third- and fourth-guessing wears me out. I suppose it's human nature to try and find easier ways of achieving the same end result. The path of least resistance and all that!

I re-read one of Adam Heathecote's posts from last year, where he showed a screenshot of him making £1.8k in the Gold Cup. To this day, it still boggles my mind how someone can profit by that much on one race. That said, I think he remarked in another post that he will stake upto 6k on the big races, which goes some way to explaining it I suppose. This snippet was also interesting

"I traded roughly 4000 horse races averaging between £70 and £75 a race. I didn't realise when I started it was possible to do that but it definitely is if you reach the peaks..."


I wish he'd start posting again, as I always found his insight into market behaviour quite fascinating.

11 comments:

  1. His profit on turnover was below 1% if i remember correctly and at one time he put some, eyeopening, figures that he put through the markets up.

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  2. Hey Mets,

    Im in the same boat as yourself. I've changed to in-running now, as its more of a thrill and the grass is "greener" on the otherside! Excuse the pun.

    How much roughly are you making per race (on a good day?) i know it differs. Today i had profits varying from £4- £40.
    Hope everything goes well!

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  3. @buzzer - is <1% profit on turnover a bad thing then? I never really understood the significance? Cheers

    @Kieran - hello mate, yeah I noticed from your blog you'd been focusing more on in-running.

    Today my highest was £44.89, lowest was -£32.24. I've been giving a lot away this week during this new learning phase. I made £24 on Tuesday and £15 on Wednesday, that's 40 quid for about 8 hours work...rubbish!

    I can live with the meagre days as long as the good days still come though. It's losing I hate.

    Are you giving up the trading once you're flying aeroplanes then?

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  4. It's a pity all the big winners stopped blogging, all down to you to fly the flag Mets :)

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  5. Nah won't pack it in mate love the thrill to much!
    But will probably have to put it on hold for a few months while im doing the theory, plus i'll be in the USA.
    Im the same as yourself, freaking hate losing days! No matter if its a penny i will always look at ways to get it back, be it poker or footy trading.

    Would you be interested in setting up some kind of a chat room for traders, im looking into it at the minute as i think it would be good to get everyone bouncing off each other?

    ps think im going to shell out the money to get Racing-poo-k on Sky next week, cause i really want to watch Cheltenham! Hope theres no delay over SKY!

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  6. I thought about setting up a chatroom on the site a few weeks ago, or maybe using the Instant Messaging feature in Skype.

    It might be good for a bit of banter I suppose, but there's not a lot of time in between races to be tapping out messages, especially as I still do the pre-race trading too. It might also be a bit distracting!

    The jury is still out on that one! :)

    I didn't bother getting the Racing Poo-k TV package in the end, I just use Timeform Radio these days. Obviously no pictures but I realised I didn't really need them anyway...and after all that fuss I made too! :)

    Cheltenham will be on Channel 4 or BBC 2 won't it?

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  7. Oh ye, forgot its on Channel4! Saved me a few quid there and the hastle cheers!

    Ye that's true with the chatroom, wouldn't be much time at all.
    Been fuming today cause of betfair being down, had a trade in just before it went so not happy days!
    They need to sort it out or someone needs to start competing with them and lets face it BetDaq won't be in the near future.

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  8. No worries :)

    Yeah, disappointing day. I was all settled to make some wonga and 3 races in, it all went pears.

    There must be more to it than "technical difficulties" especially with it going down the other Saturday arvo - too much of a coincidence. I've never seen it so bad, usually it comes back within the hour.

    Hope you didn't get stung for too much :(

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  9. Check you out!!! Mets on Twitter. Very fancy ;)

    Hope you're good.

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  10. That's what happens when I'm left alone with Photoshop for half an hour!

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