Bank holiday trading on Betfair…
Trading on a bank holiday monday can often be a tricky affair, mainly due to the amount of races and scheduling. With races going off so frequently there its always best to plan a couple of points to have a breather…. failing to will most definitely leave you exhausted and unfocused. The good news is, with so many races, you only need a small average to bring the days results up!
I had a message earlier on today asking me why I don’t just up the stakes on the front-running selections I make. Sometimes I do! but only when im very confident. To do it any other way would be a bit crazy in my opinion as the in-running markets are pretty frantic, which can be great when you’re on the right side of things. But a small nightmare if you need to exit a few hundred quid and its going against you (particularly at bigger prices) I’d much rather take the ‘slow and steady wins the race’ attitude. In trading, consistency is king… doing anything different, and taking unnecessary risk is gambling. Plus, having a feast-or-famine attitude can really play havoc with the way you feel in the markets, which had a knock on effect to your behaviour and decisions.
Today there was a whopping 50 races in the UK and Ireland. Taking a few quid a race consistently, without over-exposing a position and trading a little harder on a couple (or even the two back-to lays I put up on Facebook/Twitter) would have seen you manage £200 or more. Lets not forget, that’s all in a few hours too. Finding the equivalent for most in the way of work is pretty tricky – especially if you think about how it was made, watching some sport!
That said, there needs to be a line between work and play. Which is something I’ll post up about later on in the week, watching the racing is a great way to ‘work’ although if you have trouble keeping the markets and persona enjoyment of the sport separate (and gambling) its destined for disaster!
On the whole I thought the markets traded very well, mid afternoon the turnover was pretty good on some races. Far better than some of the more recent bank holiday Mondays, where one race being delayed has messed up the whole days racing. It’s really getting into that peak time of year now when the markets are at their best. If you’ve been around since the end of last year you should be seeing and feeling a marked change in the amount of money flowing through the available prices! It’s easy to say I know, but it’s that little bit easier.