I think it might be useful for me to post the trading selections up here until the end of March to keep me disciplined (sometimes I’m not arsed searching for bets). It always helps to get your arse in gear if you think someone might be keeping tabs on you. So I’ll post them each day until the end of the month and see where we are at then.
EDIT: need to readjust some sums - had a small calculation wrong in my spreadsheet.
So at the moment, I’m happy enough to keep laying off at 50% of the BSP but we’ll see how it goes as the data builds.
I’ve been thinking a bit more about this and some things arose in my head….
It’s all very well using a tenner as a trial but if it continues to be successful, it could prove tricky to ratchet this up. I may need to start recording how much money was matched in-running at what prices. For example, let’s say a trade is successful and the price drops by 50%..... This is fine when I’m trying to get a tenner matched and generally, there will be no problems. But if you are looking to get bigger sums, (say €100 or maybe €500) matched, it could prove troublesome. Some of the lightly traded races are only getting tens and twenty matched here and there, so it’s not reasonable to assume that it would be as successful with larger stakes. As I say, it’s easy to get a tenner matched, but it’s a different story when you get into the hundreds.
I’ll cross that bridge when I come to it but when I’m using larger stakes, it could be a case of scaling out of my trades at various prices rather than dumping a big order in the market. Of course, big traded events like Cheltenham are fine and there should be no problems getting matched there for reasonably good sums. Perhaps in time, this will be a strategy to be used only on liquid events?
You have to keep plugging away and working on ideas. I heard a good quote at Mass today: "Even if you are on the right track, you will still get run over if you just sit there."
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