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Showing results for tags 'irish racing'.
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Trading on Irish horse racing is quite different from UK horse racing. In general, there is less money on these races and it means a slightly different strategy has to be used. 7.1. Market Making Because of the low liquidity, my favourite strategy on Irish racing is just to make the market and wait for my bets being matched. I can use scalping and swing strategy as well, but most of the time, I just make the market on Irish races. I use smaller stakes than on UK horse racing. You can’t enter the market with big stakes because you would manipulate the price with big bets if the market were weak. And if by accident your big bet is matched, it can be very hard to exit the trade. So, on most of the low liquid races, I use stakes like £50, £100 or £200. If the liquidity is better, I adjust my stakes a little bit higher. But I’m always careful with Irish horse racing. I don’t earn as much here to take inappropriate risks. Videos: Trading Punchestown £12+ ↓ Market Making Gowran Park £11+ ↓ Trading Gowran Park £11+ ↓ 7.2. Tips All of the tips mentioned for British horse racing can be applied on Irish horse racing as well. The only difference is in scale. Irish racing is smaller in general, especially in characteristics like liquidity and the number of events. There are some bigger events during the year but I don’t even know their names. I would just make a note on clashing here. When an Irish horse race is clashing against a British horse race; it’s not a problem most of the time (because Irish races usually don’t attract that much money). It’s much more significant when two British horse races clash with each other – then you literally feel the money is split into two markets. < PREV | HOME | NEXT >
Trading Punchestown 12 (PROMO & VOICE & END).mp4 Description: 0:20 – In this video, you basically see how I only place Lay bets below the current price and Back bets above the current price. I’m then waiting for them to be matched. That’s called market making. 0:55 – I scratch this trade because I feel the general move of the market will not match my Lay bet. A short time later in the video, I also scratch my trades. But in general, I just wait for my bets to be matched and then immediately exit my position. Back to Irish Horse Racing ↑ Back to Market Making (UK Horses) ↑ < PREV | HOME | NEXT >
Marke Making gowran park 11 (PROMO & VOICE & END).mp4 Description: 0:14 – When making the market, I place my Lay bets below the current price and Back bets above the current price. Weak markets tend to jump up and down quickly, so I don’t want to enter the trade at the current price. I want a better one. 0:31 – Spike up. I immediately fill the gap in the market with my Back bet. 0:37 – My first Back bet is matched, so I take the profit. 0:41 – The second Back bet is also matched but the market seems to go too strongly against my position, so I quickly scratch it. 0:47 – My Back bet is again matched thanks to a spike up, so I quickly take the profit. 0:52 – 2:15 – It’s always the same scenario. I just place my Back bets above the current price and wait for them to be matched by the volatile market. Once they’re matched, I quickly take the profit. I was able to repeat this trade many times. So even with a small stake, I could make some money. Back to Irish Horse Racing ↑ Back to Market Making (UK Horses) ↑ Back to Spikes & Corrections (UK Horses) ↑ < PREV | HOME | NEXT >
Trading Gowran Park 11 (PROMO VOICE & END).mp4 Description: 0:22 – I place my Lay bet below the current price and also around the @2.75 level, which often works as a semi-strong support level. 0:37 – I’m ready to scratch the trade if the market goes against me. 0:56 – But I’m able to take a 4 tick profit once the market moves in my favour. 1:03 – I try to repeat the process. Now together with a Back bet above the current price. 1:44 – The market moved quickly up to @3.00 where I had expected a natural resistance level and then bounced back down. So I’m placing my exit bet and waiting with my finger on the trigger to quickly scratch if necessary. 2:06 – The market has bounced down and matched my exit bet. For the rest of the race, I didn’t see any opportunities. So I did nothing. It’s often better to do nothing than to do something. Back to Irish Horse Racing ↑ Back to Market Making (UK Horses) ↑ < PREV | HOME | NEXT >