In this article I want to share my Cheltenham trading tips. It took me a while until I was able to unlock the full potential of Cheltenham festival. And I believe there is still a room to improve! On Cheltenham week, I always break my records. So, let’s start with something what I personally always do and how do I approach this event.
Many of you are interested in how much money can be used in the market. Since I will keep the exact numbers for myself, I always found useful to have more money in my Betfair account during this week. But having more money in Betfair account does mean you still have to think about proper risk management. My approach to risk is simple – I need to be able to recover if everything goes completely wrong – for example when Betfair goes down and you can’t cash out. So whether it’s £1,000 or £10,000 you need to be able to recover if some greedy Betfair manager makes a decision to not pay what he should.
The potential is huge. I often end up with a profit of a few hundreds of pounds per race. And I usually hit the magical £1,000 mark at least once during the week. You can see my best race below:
My biggest single race on Cheltenham Festival
Volatility is much lower than usual – the market doesn’t move up and down that quickly and chaotically. The market is very competitive and prices are very stable. If some move starts to happening, it usually moves slowly but steadily. You have to be precise with your positions because there is not much room for mistakes. The market is like a slow but heavy machine and it’s very dangerous to try fighting this machine. You have to listen to it and adapt to its tempo instead.
Huge liquidity gives you a chance to use big stakes. There is often no problem to match tens of thousands in the market. This gives you a great earning potential but also – potential loss is also bigger. You have to get used to Cheltenham markets because the money isn’t matched as quickly as usual. It often takes a while until your stake is matched and during this time you are exposed to risk. So you have to be careful and watch any signals that you may consider as a threat to your position.
My Cheltenham Trading Tips
I always take a few days off before Cheltenham. One day before, I always check all of my hardware, fund my Betfair account, I properly set my Betfair account exposure limit & test my back up plan. The preparation is important – you are going to fight for money and you don’t want to be a loser!
This is my favourite strategy on big events – basically I just try to match my Back & Lay bets at the same time. Just because the market is very stable and doesn’t move much, it’s a simple strategy to use. If you presume the value is between Lay & Back prices it makes a perfect sense to make the market. However, the market is a fluid & living thing so you have to always cancel, change or scratch your position if you feel it will go against you.
There is a lot of money in the market and I always try to get into a good position in the queue. It’s very useful because if your bet does have a support of other big bets in the market, it decreases your risk. I mean – let’s say there is £10,000 sitting on a price. If you can place your bet before this money, it basically gives you a peace of mind the price won’t be easily broken. I hope you get my point. On the other hand, if there is £10,000 sitting on a price and then you place your bet. In such a scenario you have to wait longer for your bet to be matched. The longer you wait, the bigger risk you have. Queue position is something I would personally put on the top of my Cheltenham trading tips. If you can jump into the market smartly, you can secure a great competitive advantage.
Yes – also important. Be calm, concentrated & disciplined. This is the biggest event of the year and there are not only the best horses & jockeys on Cheltenham Festival! There are also the best traders, punters, bookmakers and bots in the market as well. You have to compete with the best in this industry and if you are just starting with trading I suggest you to be careful. The best way to learn is from your own mistakes – which you can always analyze if you record your own trading and watch it later. I recommend you to record a few videos – this is a unique chance to learn more about trading on a high profile events.
If you have any questions about my Cheltenham trading tips, leave me a comment below the article.