I noticed that, for me, there was either too much or not enough money in the markets, creating either slow movements or highly volatile movements respectively. Right or wrong this is how I read it anyway.
However I did place just the 1 trade and managed a 1 tick gain of £0.56 profit. I won’t post the other stats I normally post just for this 1 trade but to say my initial bank of £250.00 is now £292.60, a profit of £42.60 after 3 weeks of trading (13 actual trading days including today)
I must say it was nice to have a rest and not to have to concentrate so hard on the screen. I think that if I become pretty successful at this I’ll at least invest in a bigger screen.
Another rest day tomorrow, but I intend to be back trading on Monday.
Cheers
Hi Andy, hope you enjoy your rest.
ReplyDeletei have placed this reply to your question to me on my blog,
Hi mate,
i use my whole bank, (backing 1st) say £100 @ 5.2 then i look to lay it off at 5.1 or lower, but happy with the 1 tick or even hedging straight away. so
5.2 @ £100 = £410
5.1 @ £100 = £400
= a profit of £10 if i were to hedge at this stage then it would be £10/5.1 which would green up £1.90 odd, but as i trade pre race some 20 minutes before the off, i will try and replicate the back then lay a couple of times hoping to get £20/30 in which to hedge, so that i could then produce £4/5 per race.
as you are using a 1/4 of the bank i am then your green up would 0.48pence
I hope that helps, i used to use 20/40 per trade but realised that it was better to use the entire bank, Obviously if i back at 5.2 and the price goes up i will place a lay in at 5.2 or even 5.3 then try and place a back in and hope the odds go down.
Have a look at these videos of "Badger" showing how its done, all i have done is copied him.
Scalping using a £200 bank with 1 tick movements
http://www.racingtraders.com/Betfair_Trading/TonyHargraves/Chester10.wmv
All the videos are listed here
http://www.racingtraders.com/Betfair_Trading/Trading_Videos/index.html
I hope this helps