Tuesday Trading the betting market

I had a pretty good day trading on Tuesday, just getting used to the BfExplorer software I did trade the financial markets quite successfully a few years ago so know a fair bit bit about price movements, can anticipate trend changes and read stock charts so it was fairly easy for me to slip back into it. The main difference is that you don’t need to worry about economic indicators, oil prices or any other events that can effect stock market prices. You just need to back and lay the horses that are trending, taking a tick here and there.

I can see the appeal of a regular, steady flow but it can be quite a tedious way to earn a few quid. There is a robotic-feel to staring at pure price movements and charts while betting hundreds to win a relatively small amount.

As you can see from the few screenshots below I did ok in a few markets in the practice mode of BfExplorer on Betfair but despite winning on the day I felt more knackered than on a ‘normal’ days betting and it’s certainly a fair bit more stressful.

The problem is that ‘trading’ requires a lot of focus, attention and most importantly discipline and it takes the fun out of horse racing. Of course some would argue that it’s all about making money and that is true but if it were just about that I would have stayed contracting in IT for a guaranteed wage each day ! You have to be able to enjoy your ‘work’ as well

I played about with the hedging functions and programmed a few basic ‘bots’ as well as tinkered with some automatic trading. For me the automatic trading was a struggle as it takes away the skill element and leads to unpredictable results although I am sure with more programming knowledge a successful trading strategy could be built. The potential for setting up automatic bots is endless with the software and I’ve only really scratched the surface in that respect.

I can anticipate doing trading as part of an overall strategy in conjunction with the ratings but for me it’s just too boring and tiring a way to spend a day (and evening) stealing the odd point here and there day in day out.

However, I think the software itself will prove to be invaluable for dutching, hedging and greening up on my selections from the ratings.

I do think it could be possible to trade on Monday’s and perhaps Tuesday’s though when the betting opportunities and standard of racing may not necessarily suit a pure backing strategy so I may look to do this one day a week initially.

If you want to try out the software I recommend visiting BfExplorer.net where you can download a 5-day trial of the software and make sure you use practice mode. You will also need a Betfair account which you can signup for below, new signups receive a 25GBP FREE bet when clicking on the banner below or the following link.