Betfair Traders Software - Free for 2010

Betfair Traders Software - Free for 2010
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Tuesday 12 January 2010

A Tale of Two Days

Yesterday after a good start got very difficult with nearly everything I traded going the wrong way. When I backed first the horse immediately drifted and when I laid the gambles came in to smash the price lower. Only be taking some in play risks did I escape the day with a profit.

Today on the other hand my trading was better and I applied some patience and mae the right decisions and ended with a good profit.

I still don't like the all weather racing as many horses seem to be the subject of huge gambles, great if you are on the right side.

Heres hoping for some warmer weather and normal racing to resume.

9 comments:

  1. You've got to start accepting those reds Steve otherwise you're just living on borrowed time. You just got lucky yesterday by taking 'in play' risks but it's just borrowed money for now. If you carry on taking risks and you'll just give it back with a lot of added interest.

    The in play markets are just too efficient on the whole and it's a complete new ball game to trading. I'm not saying don't close out in play because few of us will ever avoid markets going in play, you just need to have a consistent strategy for when they do and if that means closing for a red so be it. Don't get too hung up on the whole 'avoiding inplay' thing as you'll never manage it just work out some strategy to cover things when it does happen.

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  2. I know about the In Play, that's why I called my blog No More In Play ha ha...

    The lack of posts on my blog reflect my embarrassment that despite getting better and going in play less that I still struggle to avoid going in play at last twice a day.

    I am trying though and know it is essential to make this work.

    Thanks for the comment MF.

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  3. I think you're putting too much emphasis on the inplay side of things though Steve. It's just something you've got to accept and plan for much the same as you'd have some strategy for when a horse 'steams' the opposite way you want it to.

    I play late on, so the same as you I'll have a lot of runners I need to green/red in running, I just accept it as part of my strategy and green asap which usually costs me but as most of my money is made from late moves it's something I'll take on the chin.

    You'll never avoid going inplay so you need to accept it and plan for it rather than assuming thats the reason why you're not making the progress you want.

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  4. I'm not so worried about going in play to tidy up a late trading position, my biggest flaw is looking for a way to recoup a red position by deliberately looking to lay something.

    It is a mindset thing and I am getting better but still not eradicated it yet.

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  5. Heve you tried changing the audio alerts on your trading app to help reinforce the correct mindset when you're feeling most vilnerable (approaching the off). This helped my a lot when I had a similar IR problem.

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  6. If Bart telling you your a sucker doesn't stop you nothing will. :-(

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  7. Correct Geek, I have changed my alert setting back to the original Geek settings after using some from another application that just got on my nerves......

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  8. you still around steve? you havent updated your blog for a while, wondering if youve given up? or worse, blown your bank

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  9. No doing fine at the moment, had still difficult periods where I didn't think I was going to be able to make this work but I've gone back to where I am most comfortable and being disciplined in sticking to it. No more favourite trading for me.

    I'm going to start the blog again this week.

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