A booze enduced conversation…

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So I wasn’t going to update again before my holiday as I said previously although after a conversation the other night with my mate Rich down the pub I feel compelled to post about it!

I don’t really know how the conversation got onto it but the fact that some super markets sell milk at a loss come up. I remember some time ago seeing a documentary on it, the reasoning behind selling milk at a loss being most people have to go to collect milk but end up spending far more or even better doing their weekly shop while in the store. My drinking buddy then told me something else I didn’t realise, if you think of pretty much any supermarket where is the alcohol located? Furthest from the door! Just like the milk they prey on the fact it’s another item people enter for but seeing they have to walk past everything else twice they may just be tempted to buy a bit more!

It all makes sense really and you could go on all day, Clubcards, Nectar points etc… it’s all set up to get the most from the ‘majority’ although I don’t doubt there are plenty of people who go into the stores buy their milk, alcohol etc for a good value price and leave not buying anything on the way. While im not worried about paying an extra 10p for some milk or buying a little more when I shop to me this is just like trading the races, although I trade them all I often have some I will prefer or know where the ‘value’ isle is if you like.

It’s a common mistakes people make because they are acting like the ‘majority’ and as that saying goes something like “Wherever the crowd goes, run the other direction”. Trading the races on Betfair is no different, it’s just typical human behaviour.

So in terms of our analogy if you can see where the milk or alcohol aisle’s are (not to mention the reduction shelf) throughout the days racing cards are I’d advise you to do your shopping steadily and sensibly untill you reach them, when you do it’s time to load up your basket! To do this effectively you’ll need to know what suits you and your prefered styles of application, possibly even worth experimenting and missing some races on the day. It’s definitely the number one issue people email me about where they trade 10 races for example do well in 7 but the other 3 they burn their hard-earned and more, the reason being they are doing exactly the same in every situation or ‘treating each isle as the same’ if you like!

 

I’m officially off for a weeks break now so I’ll resume posting when im back!

3 thoughts on “A booze enduced conversation…

  1. Hi Caan, i have bought your e-book and watched the videos. Just a quick question – do you apply the stop loss in geeks toy or do you have a max loss in your head for example and as soon as it hits this you get out? Or does it depend on the market your in as to how you would apply or stop loss at all?

    Thanks

  2. Hi Andy/Craig,

    Thanks for the comments, was a good break andy.

    Craig i usually have a rough idea in my head of where i should let the trade go worst case although largely it depends on the situation and whats happening as you suggest. Its possible for its to go against you at times although your still right, a lot of such situations though depends on your own confidence in the trade you’ve opened.

    Caan

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