Rolling, Rolling, Rolling Rawhide

At the risk of tempting fate, I've had an excellent week so far, with today being the best yet.

As you know, I have started to do the place markets again and that is coming along very nicely. One of the unexpected benefits I'm finding is that my trading style in the place markets is much the same as the one I use for the greyhounds. I'm looking for the same things, the same gaps and trends. This makes it extremely easy to switch between the two all afternoon. By doing so, of course, I cover a lot more markets in the same period.

I got involved in 21 horse markets today, including a few of the evening races. I lost a small amount on 4 of them and came away with a profit of £26.21. I'm very happy with that and, will look to increasing my stake in the near future.

Coincidentally, my profit from the greyhound markets was virtually identical at £26.24. This was made in more than double the number of races as the horses, which is a bit disappointing, even when considering that my stakes where somewhat smaller. I lost in only 5 of the 47 races I took part in but there was no major hit, unlike yesterday.

Having past £50 profit by 7:30, I decided to call it a night and not risk what I'd already built up.

With every intention of increasing my horse market stake in the near future, I also need to consider doing so for the dogs, particularly in those races from 3:30 - 6:00 where the liquidity and volume is much better than normal. I'm certainly catching a number of trends these days, and I need to capitalise on them.

Speaking of trends...

I've read recently that some traders believe that there are no such things as trends in the greyhound markets or they are, at least, so rare as to be effectively non-existent. I beg to differ as the following screen shots demonstrate.

These are examples of strong trends, not all of them on favourites I hasten to add, which happened during today's trading. There were many more, but these are enough to demonstrate my point.

These were taken whilst I traded using BinarySoft BDI and then tiled into one image for convenience. Unless you're familiar with BDI, the numbers will seem strange to you. That's not important. It's the illustration of trends that is the important point.

So you are not confused, the price information down the left of each graph is expressed in % probability. In other words, odds DECREASE going up the ladder so a steamer goes up the way and a drifter down.


leonthefixer said...

Well done on your profits, that is a good day by anyones standards! I agree about the trends - that one on Drumfries Lady was a crazy one - it drifted as fast as it came in. You are much better at spotting these trends than me, but for now I wil stick to just scalping.

Today looks a tough day on the horses so I may venture into the Dogs for the first time on a Saturday - Good Luck.

Alistair said...

Cheers Leon,

That move on Dumfries Lady was disappointing for me in that I failed to get on much of it. I spotted it was likely to drift before it happened, but conditions were such that I felt it could have gone the other way quickly, so I delayed and as a result, I played leapfrog trying to get on it once it started.

I picked up a fair chunk of the trend coming the other way though.

Good luck for today. Saturday being my bogey day, I'm taking much of it off though I'll do some up to 1pm-ish.


Jim said...

I know this is a very old blog im commenting on but what kind of stakes were you using on the dogs ?I have been trying them for a few days with £4 and 2 tick spread but just about break even at best after a day :S, I have heard about forcing the market by putting lumps of cash a few ticks away from the price, is this something you have heard of or tried?



Alistair said...

Hi Jim,

When I traded the dogs, I was using anything from £20 to £50 stakes depending on the odds and the liquidity.

Don't go into the market until the last minute and make sure you are out 30-45 secs later. You don;t want to run the risk of being caught at the off.

I never tried manipulating the market using large sums. While that technique is prevalent in the horse markets, I believe that it can be very dangerous with the dogs. If you large sum is taken before you can cancel it, you may find there's little liquidity available to let you trade out.

That's not to say that some folk don't do it of course, but it wasn't for me.