You’d be surprised how often I get asked on Twitter questions like “what stakes do you use” or what’s your set up like etc. So rather than replying to everyone individually I thought I’d just do a quick video.
It will take longer than a reply but I’ll only have to do it once!
13th Feb 2020: Update
OK so this post is now out of date so I will do a new post and video shortly.
Bet Angel software you can access it here. Free 14 Day Trial.
So whichever software you use if you are starting out with In-Running trading on horse races my best advice is have your “stakes” set to “liability” rather than an actual stake.
When you choose a “liability” amount in the cold light of day before you start trading your brain is in gear and you are thinking sensibly.
Sometimes once the race has started your brain can cease to function properly. Adrenalin, excitement, chasing losses etc etc there are a million things that can make you lay something at a time when it isn’t sensible to do so. Having that predetermined liability locked in at the start of the day is often going to save you from yourself.
I would advise risking no more than 5% of your bank on any race. So if you have £100 in your Exchange account then £5 liability, £1,000 bank means £50 and so on.
That way to blow the bank you’d have to lay the winner for full liability 20 times in a day to blow your bank. If you ever do that then trading is not for you!
With stakes you can blow your bank in one race given the right (or should I say wrong circumstances).
In an extreme case lets say you have stakes set to £5 on the favourite which is trading at 2.0 (evens). You think its struggling so you try and lay it as the price drifts out, but you’re too slow and the price shoots up to 10 and you miss it again. The sensible thing to do is say “I missed it” and just leave it. But people don’t (me included occasionally in the past), they chase it up and lay it at 21 (20/1) and then the jockey sticks a rocket up its jacksey and all of a sudden it sprouts wings. Before you know what’s happening all the horses at the front either fall or start running like they’re in quicksand and you’ve just layed a 20/1 winner. Au revoir £100
I hope you found that useful, if you have any Questions ask away in the comments or get in touch via Twitter. @DrainRun
If you want to try Bet Angel Professional (the version I use) then you can access a 14 day free trial here. Try Bet Angel FREE here.