It's been a busy week, but I managed to fit in two days pre-race trading.
I watched an interesting You Tube video earlier this week from a well known Betfair trader whom I respect, and someone I've learned a lot from. They were basically commenting on whether any trading value could be had from assessing the early tipped horses on Racing Post, then getting a swing on the odds up to pre-race.
Their opinion was that the value had already gone, so really it was too late. Now this is largely correct from the moment that tip has been published both those in the know and bookies have already reacted, but it's still useful information when looking at the emotion in the market, and if scalping isn't your skill, watching the numbers and reacting quickly to patterns in the last few minutes pre-race, then using this emotion to make simple trades by looking at where a price should be on specific horses, and looking to get the value to that point is still something this information provides as a useful guide toward achieving.
I've been exploring the boundaries of how to make this process even easier over the course of a day trading, and doing pretty well overall as you can see from the recent results. Not perfect with occasional losses as you would expect anyway, but it's much simpler and less time required leading up to the race. Applying Method 1 in this way will be included in a future Betfair Trading Guide update. It's obviously getting the bets on earlier in the day, but how you manage them, when to trade off, where to enter the trade etc will be covered in more detail.
Here's the latest tally for the Betfair Trading £100 to £1000 challenge, with daily screenshots below.
Start Bank £100.00 Prev Balance £307.04
No. Days Date P&L 30 19th April £8.70
31 20th April £9.34
New Total £325.08
New 5% per trade amount for Method 1 = £16.25