I’m not going to lie, it’s a real pain in the arse. But there’s still money to be had…
Lower liquidity events such as Greyhound Racing, US Horse Racing or Low Grade Tennis can really screw up you’re balance if not approached properly.
On Your Terms
Doing business on your terms is absolutely vital. Lower liquidity markets are often so dangerous because once you’re in a position it can be hard to exit.
Offering a price, a point in the market where, should you get filled, you have the upper hand is the easiest and least stressful to manage. Take a look at this short clip I produced for YouTube recently…
Obviously this kind of approach can prove a little monotonous, but trading’s about making money. Not getting a buzz… if that’s what you’re after, get your buzz spending the cash!
You may have already noticed from the clip above. I’m pretty careful with my staking. Some of you will be thinking – but if he knew that was to happen why didn’t he use £100 instead of £10?
- Firstly, you rarely can ever ‘know’ for sure. It doesn’t take a lot to turn a market on it’s head. Especially a weakly bet one like the type of situation we’re talking about.
- Secondly, if you over-stake it makes it significantly harder to manage you’re risk. Risk management always comes first, before making a profit.
At the end of a race or trading session I base my success not on the profit made. But the risks managed. If you consistently manage the downside the upside looks after itself and we keep our sanity!
So in a poor quality market like the greyhounds, it’s important to only ever use stakes that are ‘safe’ should things go wrong. Getting carried away is always where people get in a mess, after-all it’s an emotional thing to do. Emotional responses are rarely the best reaction to a problem. You’ll know this if you’ve ever chased a loss!
*Reader Roll’s Eyes*
Yup. Volatile markets require even more discipline and patience than normal. It’s the nature of them, with gaps everywhere it’s very tempting to give in and bail out of a position early… but unlike a highly fluid market, it’s unlikely you’ll have the chance to get straight back in once confirming signals arrive.
As the events start time approaches liquidity will increase, in any market. So it’s important to remember that those big gaps in price, mean very little. Entry has never been more important. If you get a good entry in a low liquidity market it’ll so much easier to sit on without shredding your nerves.
Related: Popular Greyhounds Post