I’ve traded in-play on Betfair before but normally when my scalping attempts went wrong pre-race. When that happens it normally goes completely wrong in-play and that’s where every newbie Betfair trader does their spuds.
Today I attempted to trade in-play as a deliberate strategy.
I traded 42 horse races on Betfair today and lost £14.34 on the day. I’m actually very pleased as I was trying this new strategy (well new to me) for the first time.
It actually worked very well and but for one very bad bit of luck which cost me £35.22 and a mistake of my own making that cost me £17.19 so I was very pleased with how I did.
Fortunately I was using very small stakes (set to liability) to minimise/contain my risk and I intend to stick to those stakes until I can demonstrate to myself that I can win consistently at this level before looking to increase my stakes.
I want to show a consistent profit over a 30 day period, that’s not 30 days without a losing day but 30 days where I have a win/lose ratio of something around 25/5 or better and where the 5 losing days average out at less than half my average winning days profit.
Today’s Results in detail
So today I traded 42 races 2 with big losses (mentioned above) 4 with very small losses and 36 with small profits.
I feel that I have every chance of making this strategy work for me long term.
To be honest I don’t think it’s a really good idea to be trading 42 races in-play in one day as you really need to concentrate as a silly miss-click can cost you. But today I was super keen so I literally backed everything possible. A few races I traded were clearly unsuitable for what I was attempting to do but I couldn’t resist.
I think now the initial excitement of day one is over I shall be a little more selective in future. As traders we should remember that races are like buses in the West End of London, don’t worry if you miss one, there will be another one along in a minute.
