I've recently found time to have a small dabble on the pre-race markets on those days were we maybe only have 3 meetings. I have only been playing for £5 a click (in order to watch the BF live video) but over the last few weeks I've had that feeling that I have a slightly better understanding behind some of the market moves.
Now I have tried this pre-race malarkey on a few occasions previously and have seen quite a bit of material from Jack, Caan and mugsblog, but like anything else in life it takes a lot of time, patience and effort to even approach a stage where you can consistently make cash. I have always found that dabbling in the pre-race markets is OK in the winter months when there can be long enough gaps between races, but in the summer it's impossible to do both pre-race and in-running as there is just not enough time, and to be honest it's much better just concentrating on one or another.
One of the reasons why I remain intrigued by the pre-race market is that I'd much rather trade on Betdaq and pay 5% commission instead of donating 50% of my winnings each week to Betfair. Currently the IR market on Betdaq in non-existant but the pre-race market looks like a viable alternative maybe?
So I'm thinking that I might fire-up Camtasia and see if I can capture some of my pre-race efforts over the next few weeks and we'll see how I go?
I had one of those days today (Saturday) where I seemed to be taking small steps forward up the ladder only to find myself land on a snake and end up back at the bottom. I persevered and then managed to string a few half decent trades together and I think that I just made it into 3 figure territory.
A pretty miserable and cold Sunday with only 3 ATR meeetings. I spent most the the afternoon nicking a few quid and then giving it back before ending the day ever so slightly in the green zone.
Another day of pants weather and racing! Building any enthusiasm for days like today is hard and it's just a case of nicking a few quid here and there in order to pay the bills.
The lack of liquidiy and mass panic amongst the traders almost caught me out in one race where the market veered wildly in the wrong direction (well wrong for me) and I was staring an £80 loss in the face when in my opinion the odds should barely have changed. The whole world seemed to be bailing out of their early position and I had no option other than to sit tight and wait for normality to kick-in whereupon the price moved back in my favour long enough for me to bail out without being kicked in the bollox.
This happens quite often, traders scrambling for the exit early doors and throwing in any price you like just to salvage something from their seemingly 'doomed' trade. The strange thing is that anyone who knows their form must be filling their boots when this happens as quite often a price will move violently purely on the back of this panic 'selling' and in hindsight some of the prices being offered are ludicrously good value.
I dragged my ass out of bed this morning and hit the gym, sauna and then Asda. The remainder of the day was spent trying once again to nick a few quid on an uninspiring day of racing.
Week 1 = +£157.63. So that was my first week back this year and trading wise it was pretty shite!
Strangely enough this co-incided with an email from a trading friend who said that he had just had a relatively nice week and it felt easy .... lucky bastard!!