Tuesday 12th December 2006

Another day, another dollar, I am on the come back trail. I only traded 8 UK races today as I had to take one of my daughters to the dentist in the afternoon. I started with the 12:20 at Sedgefield where I started by laying Programme Girl for £90 @ 2.10 around 4 furlongs out and backed £48 @ 2.50, later I layed her again for £2 @ 12 to leave me with a profit of £43. In the 12:40 at Folkestone I backed Chaim for £31 @ 3.30 at the second last hurdle thinking he would win but he was headed at the last hurdle to cost me £31. The next race was the 12:50 at Sedgefield where I backed Kilty Storm for £186 @ 1.40 around two furlongs out whilst in front and looking OK. A P McCoy was doing just enough to keep him ticking over and, as usual, when needed AP just asked for a little more and Kilty Storm opened up nicely to win easily and give me a £74 profit.

I had another couple of small profitable trades before the 13:20 at Sedgefield. Here I backed Good Citizen for £196 @ 1.60 going over the last fence and for a moment thought I had got it wrong, however, he just managed to keep going to the line to net me a further £118. I had two more small trades  one profitable and one not to leave me with a profit of £212 on the days racing.

The live football tonight was the FA Challenge Cup Second Round Replay between Notts. Forest and Salisbury where Notts. were firm favourites to win. As Russ Wiseman predicted in his Exchange Views Blog this morning the under 2.5 goal market was the most attractive market to trade. I started trading about five minutes before kick off with a back of the unders of £100 @ 2.90. I was fully expecting 3 goals or more but as I was trading to smaller amounts than normal, I  decided to hold off before laying back my trade until the price was down to 2.70 and then held off until 20 minutes had been played when the price started to drop very quickly. Here I started laying again @ 2.32 and 2.25. I didn't back after the first goal as I believed the odds on offer were not good enough. Once the second goal was scored I backed the unders again for £54 @ 1.60 and layed off within a few minutes @ 1.44. I later layed more to green up @ 1.13 to leave me with a profit on the match of £53. This finished my day off with a total profit of £265.

Comments

[humble]

A good day for you today ray and you seem to be recovering well from that day you had.can i ask when you are backing and laying in running like you did mcoy today,do you have certain prices already you want to back then lay at.so for example if you bcked him at 1.8 for £100 with a few furlongs out have you already got it worked out what price/stake you need to lay at to get the profit you want.i guess that comes with experience but i think for new traders its quite difficult to work it out as the race is unfolding thanks for a good update today its relly great to have this forum to learn from thanks

[Ray]

Hi Humble,
Thanks again for your comments. When I started out I used to work out my margins using a calculator but often by the time you have done that the opportunity to lay off has been lost. Now, you are right, it is a matter of experience, I just take my opening trade, be it a back or lay, then look for a quick exit unless it appears the original trade will be safe to let stand. Good Luck with your trading and keep in touch.
Ray

[traderpete]

Good to see 'business as normal' Ray.

Good Luck

[Ray]

Hi Pete,
Thanks and good luck with your trading.
Ray

[humble]

Thanks ray i stunbled across this site by accident having given up on finding a trading forum so am enjoying yours and others threads.i intend to keep in touch and learn as much as poss from this forum but not to many questions i hope lol anyway my next question he he do you study the races form etc to look for front runners stayers to target them or is it just as the race unfolds.is all your trading in running and is it any lenght of race you trade on.i have a betting partner so am asking some of his questions his questions a well.lok forward to the update of todays racing.thanks

[Bob]

Well over 10% of the loss back in 2 days Ray well done mate. Thanks for the email the other day too, some very sound advice on playing the unders market. I intend to put it to the test tonight in the Wigan v Arsenal game.

[The Sports Trader]

Hi Humble,
No I do not study form. I used to but I got fed up with best rated horses coming nowhere and seemingly bad horses running like top rated ones. I do just wait to see how the race unfolds and trade accordingly. Nearly all my trading is in running, but on the odd occassion when the odds look wrong I do trade pre race. I trade on all class, type and distance of UK races. Good Luck with your trading. It must be difficult trading with a partner, how do you manage it?
Ray

[The Sports Trader]

Hi Bob,
Good Luck with the match tonight, I have not looked at it yet but almost certainly will be trading.
Ray

[Matt]

Hi Ray,

as always an interesting read, One thing I am learning now is discipline! To read your ups n downs helps formulate my structure of trading.

I am out tonight so can't trade the match :-( so good trading to you all!

Regsards

Matt (abe)

[humble]

Ah when i said betting partner i meant my mate and i study the game together and we trade seperately but are trying to acheive the same thing.We have the odd days together but we find we end up getting distracted and missing races through talking to much lol.so we have to have a prearanged agenda to stick to when we get together but its helpful having someone who has the same passion as myself for the game tried a few in running today "small stakes" and got a few good trades but its harder than you think trying to read a race sorting out which horse is which when they are all bunching up together a few furlongs out.i have noticed a lot of them seem to struggle halfway through the race only to see them get a second wind and go on to win.i have been caught with this in the past laying them far to early only to see them romp home and take my money lol