Trading Cheltenham is a bit marmite for most, you either love it or you hate it. With two days out the way and two to go, I thought I’d add a quick update…
On the whole, it’s been pretty average (with a dash of frustration).
Tuesday’s Trading: Average…
Past experiences have taught me to ease into the markets at Cheltenham, they can be a little skittish at first, even with the larger volumes.
I enjoyed day one although it was a bumpy start to proceedings. The false start in the first race helped seal a hefty green before the second race took some of it back. Getting exits filled at a price offered was the most frustrating for me. There’s nothing more frustrating than building up a decent position and getting an exit half-filled only to then be forced to close the second half two ticks negative. The overall position being, you may as well had taken the available exit all along!
It was an annoying start as I didn’t manage to break the 4-figure threshold on the day. However, I was happy enough with overall consistency and didn’t take too many risks.
Wednesday’s Trading: Better…
This was a different experience altogether!
I still found myself tussling with the market to get exit positions filled upon massive queues of unmatched money although results were better. There were a couple of stand-out opportunities on the day and I did a good job on them.
One of which you may have seen me mention on twitter:
Farouk Dalene has taken a lot more money than it's position in the market would expect. Only the favourite has taken more.
One to watch over the next ten minutes… #CheltenhamFestival pic.twitter.com/t1z0BKAU4P
— Caan Berry (@CaanBerryTrader) March 16, 2022
At the time of posting it was around 8.0. The money flowed nicely onto that one. Seeing that it at 4th favourite with a steady ream of money putting it into the second highest traded volume in the marketplace (£197,000) I thought it was worth the share. I don’t like to do that so often as things can change quickly although it didn’t in this case, I hope you were on!
To show its chart a few minutes later:
The BSP was 5.6 and traded a fair bit lower before falling. Someone must have lost a packet!
Running in soft/heavy conditions really mixed things up today with some late changes, non-runners and fallers. Hopefully, they aren’t watering tonight haha!
Thursday’s Expectations: Hopeful…
Today I hope to hit my stride proper. Getting into early positions, lower places in the unmatched queues and using the bankroll will be vital. Cutting losses and scratching without thinking to much is important at Cheltenham. Once the price ticks down, it can be a long wait to get matched again. The best bit of advice for both myself and you is to be decisive and react quickly!
Good luck.
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One thought on “Cheltenham Festival Trading 2022: Results Update”
First time I’ve spent looking at Cheltenham Festival after all these years. Late nights and early mornings don’t fit into work for me down here unfortunately. Those queues are incredible! Flatline graphs for miles. I kept looking at the market overview. “Is that for real” I’m thinking. Anyway very entertaining, I had a few small trades, pretty much both sides of the book following price movement up and down. My biggest concern seemed to be getting out unscathed from those huge queues!
What is it about Cheltenham Festival? A bit like a Melbourne Cup day on steroids it seems!
Great fun.
Cheers