Today was almost a textbook start to Cheltenham Festival trading for me.
Here’s a quick update to share how I found it…
Like Clockwork, Every Year…
The first day of the festival can be a bit marmite. Everyone knows it’s a massive opportunity, but approaching it with greedy eyes and excitement isn’t wise.
I’ve been caught out before, but not this time. I worked into the afternoon’s cards slow and steady (it always wins the race). Although I could clearly see the mis-clicking and over-excitement from less experienced traders. I’ve warned readers a million times but still, it happens without fail.
I honestly hope it didn’t catch you out…
Remember not to get manipulated by the whales flexing their banks and knocking the exchange around between Cheltenham Festival races this week…
Chase a Fortune in the 13:50 – Betfair. pic.twitter.com/fXUAi1B7Wi
— Caan Berry (@CaanBerryTrader) March 14, 2023
Manipulation always happens on the betting exchanges and there was plenty of spoofing at the festival, someone was clearly playing with the newbies early on at Sedgefield (see the chart above).
The lower-quality races between the Cheltenham cards can be brutal if you’re unaware this happens so watch out. The key is, as always, to let the money come to you. Be patient and react accordingly.
Trading Cheltenham Cards:
On the whole, I’m happy with today’s result. Starting steady is a tactic the markets have taught me over the years, looking at what could have been never helps. Race one was slow, the second far easier (somewhat predictable traded volumes on the favourite) and confidence had grown by the third. The 14:50 was my biggest result of the day before pushing too hard in the 3.30 leading to a small loss. Dropping a negative on 1 of the 7 Cheltenham races didn’t bother me so much as a couple of crazy swings at Sedgefield were a gift making up for it, and some.
All-in-all today was one of my most relaxed Cheltenham Tuesdays. The flow of money and overall volumes felt good and the numbers were up on last year, maybe some of the short-priced favourites helped that but it’s a welcoming and positive sign!
I’ll update the blog a few more times this week so feel free to drop me a comment below. How did you find it?
Now, it’s time for a well-earned beer…
3 thoughts on “Cheltenham Festival: A Solid Start to Day #1 | Betfair Trading”
This was my first time trading the festival and it started badly. I chased a losing position and ended up losing money. I took as step back using some of the core principles of getting stakes in early and letting the market come to me to close the day out breaking even (I’ve used smaller stakes to test my methods). I’m glad I took the course to, it gave me more confidence entering the market without panic and chase the market. The clear takeaway for me was I enjoyed doing this and mastering the process is something I want to develop…. Until tomorrow.
Thanks for the update I found t he 3.30 very hard to trade with the traded volumes being huge better luck today!
It’s like you have done this before or something Caan top notch advice. Be lucky mate.