This last week’s been a bit crazy for horse racing traders, for those who haven’t experienced it before it can be quite stressful.
It happens almost every year around this time, some crazy punter turns up and starts betting 10’s of 1000’s sending the market berserk.
I posted previously about it here. Someone mentioned on Twitter they had lost a lot of money down to this erratic behaviour, in the past it’s caught me too. The best thing to do if that happens is take a break, get your mind focused again, and if needs be stop for the day.
Mad punter aside, the markets have been their usual selves.
We’re entering that period where activity drops a little, slightly reducing stakes (particularly if scalping) isn’t a bad idea over the next month or so. With added experience of time im able to feel the difference and adjust accordingly, but at no points there’s no doubt ill do the same.
The one thing that doesn’t change though, is the opportunity for a good swing in price! Yesterday was no exception (and this wasn’t that crazy punter mentioned above).
Did you see it coming?
I wasn’t 100% sure about this trade until about 20 minutes out. I don’t typically trade so far out, although if there’s a stand-out opportunity, with the ability to limit my risk – I’ll go for it.
I’d checked up on the races a couple of times throughout the morning, as I usually do. The first race at Catterick stuck out like a sore thumb, it was quite obvious that it was to be a two (possibly 3) horse affair.
Early activity in the market suggested to me that either the favourite or second would be strong, but that’s not unusual. In fact you can see I got caught for a couple of ticks red on the favourite early on.
After a few small flurries of money on both in question the decision was made… once the market had confirmed I was correct I knew it was to be quite a long trade (time wise) as I’d need to let my profits run. Being confident I couldn’t help but drop a hint on Twitter, something I don’t often do. That said, I was still a little surprised at how far the price moved eventually.
Here’s what happened…
Video Pack Subscribers: In the coming week’s I’ll be adding this clip to the Video Pack with a separate cometary