Horses v Dogs

Now there's something that doesn't happen everyday. I won more on the nags than the dogs!

My dog trading got nowhere in the morning session so I stopped for an early, extended lunch break. Upon my return I concentrated on the horses.

I've mentioned many times before that I am more of a swing trader than a scalper. To be honest, I find scalping for 1-2 tick profits both boring and frustrating. It doesn't help that I inevitably get it wrong. I find disseminating the trend from the 'noise' on the horse win markets particularly difficult, which continually results in me getting out for a loss. Certainly this is what has happened to me in the past.

Recently, I've started to look at ways to identify longer term trends. Ones where I can comfortably take 5-10 tick profits. I'm still not there yet, but there are promising signs.

Over recent weeks and months, when I've been bet matching the Bet365 4/1+ offers, I've been somewhat taken aback by how my pick always shortens after I've placed my lay bet. I can recall only one runner that hasn't shortened by more than 3 ticks.

This got me wondering if I shouldn't simply trade those runners instead of bet matching them. Moreover, could the selection criteria I use when doing these offers be applied to any race during the day?

That's what I did, this afternoon. As the screen shot below shows. I had some success doing just that this afternoon.

The two losses you see there happened in races that the technique I was trying didn't flag up any suitable candidates. Rather than move on, I lost discipline and tried to scalp the market, with the usual results.

The big win was the result of bet matching the 4:00 at Kelso, so £50 of that was lost over at Bet365. Only £2.55 was the profit from that process. The rest was through trading the same market.

So, through trying to identify longer term opportunities I added £13.82 to my 'back to basics' bank. This now stands at £57.97 having started at £25 some ten trading days ago. I'm obviously very happy with a 132% increase in that time, but I'm even more happy that the longer term trading worked. Still a long way to go though.

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