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Sardo

Sardo's pre-race trading bonanza

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Hi,

I have some free time and it occurred to me to try my hand at sports trading as it is something that always fascinated me. I have some experience in trading financial markets (not particularly successfully), my sports betting experience is limited to educated guesses on the outcomes of big games.

I watched videos by Caan Berry and a few others on scalping last night and made a few experimental trades, today I traded pre-race horse-racing markets for most of the day. Attached are the results of using £2 stakes. Got lucky on my first race.

My approach is probably unorthodox, I am predicting the direction of a move rather than backing and laying simultaneously. I will try and explain in more depth if I survive long enough.

The reason for starting this thread is to document my progress.

Thanks for reading.

 

 

 

 

Screenshot_2019-11-11_16-20-33.png

Edited by Sardo
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> Join our real-time trading chat on WowApp
> Why WowApp?

Something I am curious about, and perhaps somebody on this forum may be able to advise, I have read a few traders mention scalping greyhounds and US horse-racing. Really? I looked through every greyhound and US horse-racing market tonight and the lack of liquidity made them completely untradeable.

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Hi Sardo

I'm not sure if it's possible to scalp greyhounds and US markets the same way you can scalp UK horse markets, or maybe U/O goal markets, but there are other ways to trade these markets, as Tomas shows in his videos. Personally, I struggle with greyhounds, even though I can see opportunities - I suspect a lot of activity in greyhound markets is from 'bots', and I can't compete with that.

Caan and others make scapling look easy - and in the right market it can be easy, but the price can suddenly and quickly go against you. If you can predict the direction of the market (and be right more often than wrong), then swing trading is a safer option - at least that's my opinion, and how I usually trade

Cheers, and happy trading!

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Hello Sardo,

I am glad to see you giving sports trading a try and documenting your journey. I hope you to continue documenting and experimenting. Good luck and steady hand 👍

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Thanks for the replies lads.

Had a bit of an upset the day after my first post, was sitting on a loss and made the cardinal sin of thinking I will let it go in-play, recoup losses and start again the next day, with predictable results. Back in the game today.

I have been looking into swing trading and I like the idea of it. For the moment I can't make sense of how to predict a likely swing. I can appreciate the short priced favorites approach in that the most likely way for the price to move is up, but those are going to be few and far between I expect. Scalping just makes sense to me, and I know I it won't make me much money but the way I look at it I will learn a lot in the process. 

 

 

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I had a situation the other day where I was waiting for a lay to be matched (my approach is to only place offset bet once initial bet is matched as I take a view on the short term direction), once I was matched I could see a lot of money coming in at the level my lay was matched meaning that level was unlikely to be broken, that gave me confidence that I could take more than a tick and as the price moved in my predicted direction I followed the price up four ticks before offsetting with back, nicely done.

That is possibly the way to take this, but then as SomeBloke pointed out, the price can reverse quite quickly. I am trading very slow markets so lower risk, problem with that of course is it may be difficult to apply to faster markets with bigger stakes.

 

 

Edited by Sardo

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2 hours ago, Sardo said:

that gave me confidence that I could take more than a tick and as the price moved in my predicted direction I followed the price up four ticks before offsetting with back

 

That's pretty much how I trade at the moment, just taking a few ticks at a time, when I'm more than 50% confident that the market will move in a certain direction. Whether you scalp or swing trade, there is always the chance that someone will drop a big bet into the market, and move the price 10+ ticks up or down. Sometimes this goes in your favour, sometimes not.

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Hello and welcome @Sardo

I started as a complete novice to order flow trading last June and for the first 2 months stuck largely to practice mode as I was rubbish. I switched to real trading in the 3rd month as I started breaking even. I found patience and discipline were the key to improvement - not pressing the button until the set up I was looking for manifested itself. I thought the low liquidity market of US horse racing very helpful then as it moved more slowly than greyhounds and this gave me a chance to study how markets moved without feeling so panicky. US horses also has the advantage of video without placing a real bet. 

I was then able to start trading greyhounds regularly and have been making a small but steadily increasing profit ever since. It's now almost 6 months and I'm still on quiet small stakes and have barely touched my ultimate destination of UK horses yet as I feel low liquidity markets are easier to learn on once you get used to them. 

I'm taking a conservative approach but it's saving me blowing my bank as so many newbies do. Anyway good luck if you've any questions that I can answer I'll try to help. 

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11 minutes ago, zitlor said:

I feel low liquidity markets are easier to learn on once you get used to them

 

Agreed. My approach has been to trade the UK horse-racing well in advance of in-play. By ten minutes to go things are getting too hot for me and I am off.

Thanks for the welcome, I shall take you up on your offer of help = )

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Lots of trading today. I don't know what happened with the -2.05. I don't remember losing that money trading, sure I would have noticed, when I checked my P/L at 16:00 I saw it and wondered how that got there. Perhaps it was an un-hedged positions than went in-play. When trading starts to get volatile towards the end of pre-race I close the ladder and move on to the next one.

Apart from that, it went well today, shame to end the day with a loss.

Screenshot_2019-11-15_20-48-43.png

Edited by Sardo

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