Saturday, 31 January 2009

Small loss but good idea?

As I said yesterday I have decided to trade over the weekend. I had a couple of straight bets, which lead to a small loss of about £50 for the day. I placed all the bets before racing started so that I could concentrate on my trading.

I have been reading several form posts and blogs about trading for some time now and this has led to me rethinking the way I trade. I normally only look for small price
movements of say a tick or two. Although this has proved profitable it has not proved massively profitable.

Therefore, today I slashed my trading stakes to £200 and set about looking for some longer term trades. If the markets were looking stagnant I reverted to my 'scalping' style though I was always on the look out for longer trends.

As you can see from the image below there were a lot of races where I just closed out for no loss and no profit, however, considering my stake size I was quite happy with some of the profits I achieved. The highlight being the 16.10 where I won over £7. The number of losing races were kept down though I was disappointed I lost so much when I did lose but overall I think the new style looks

As long as all the racing is on tomorrow I will be back trading again and will again be looking to implement today's strategy. So on the day a small loss of about £30 thanks to the straight bets not doing any good but overall I think the day was a success!


  1. Hi iv'e enjoyed reading your blog in january
    you say you have been reading other post and blogs, that have helped you in your trading.
    could you recomend any that are worth reading
    on horse race trading,as someone new to this any
    help would be greatfuly recived
    good luck with your trading

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  3. Hi ADY - I just wrote out a long answer to your comment and closed the window just before posting it. Damn annoying!

    Thanks for leaving a comment - In terms of blogs to read I would recommend:

    Man Of Mystery ( - he doesn't trade himself I don't think but he runs a weekly radio show. You can listen to all the previous shows on their site and they have interviewed many traders from small time traders to big time traders. All worth listening to.

    Don't Give Uop Your Day Job ( - This guy started out about 18 months ago with £150 and has turned it into about £15k by trading the pre-race horse markets. He started out posting daily when he made about £3 a day and continued to post daily until recently. he now posts a few times a week - I would recommend going right through that blog.

    Bet Your Life ( - another great read involving various types of trading but mainly pre race place market trading which then switched to mainly greyhound trading. He started with about £10 and has won several thousand now - again definatly worth reading right through. He runs a chat room you should drop into.

    Lastly I would say read Peter Webb of Bet Angel blog ( - he is a big time trader and can easily make £1k in a day. The blog however is very interesting, includes several videos and makes you think about your trading.

    There are several other blogs out there claiming to make thousands all the time, they may be true but don't always beleieve what you read on the web.

    Any other questions just ask!