When the racing is so substandard I find it a struggle to have a strong feeling about any bet, especially with the ongoing inclement and unpredictable weather playing havoc with ground conditions.

So I spent most of Wednesday’s racing testing out the bfexplorer Trader interface which is designed (as it obviously states) for trading on the betting exchanges. All the videos of how I got on with each race are below. I also used it to test out some of the bfexplorer Trader functionality so it was as much a learning curve as it was a refresher for myself in what to do and more importantly, what not to do. Each video lasts no longer than 10 mins, some less than half that and covers basic manual trading to automated pre-programmed trading.

I didn’t lose on a single of the 13 races I traded although I did not always follow the best trading practice and on a couple of occasions took some silly risks letting trades go in-play which is a cardinal no-no, but it was an excellent example of what NOT to do. It was also for me to learn and teach myself the discipline, to get back into trading on poor racing days and to get used to features of the software. The P&L is listed below, a total profit of just over £70 was achieved. I only traded £100 at a time so with bigger amounts, more races you can potentially make a lot more, especially if you are not distracted making videos

You can download a 7-day trial of bfexplorer and use a brilliant practice mode to test things out before risking any of your hard cash. It also has other features like dutching which I described in a previous video and is displayed on the homepage. All the videos can also be found and viewed in full screen on my Youtube channel or just search for secretgambler. The videos are best viewed in race time order and last no longer than 10 mins, some much shorter.

I traded quite a few years ago with some success on the financial markets but with high costs, commissions and unpredictability due to world events, economic indicators and bad news it became too much like hard work

Trading on the exchanges is much more straightforward and is just a case of supply and demand and getting it right more than getting it wrong.

I use a combination of technical analysis and watching market moves, volume on back or lay sides and general market sentiment to decide on whether a price is going to shorten or drift. On a 3 meeting day with 6 races on each card, if you can make a fiver a race on average you are looking at a just shy of £100 quid a day which is not to be sniffed at and you should be able to make a bit more.

For an explanation of support and resistance this is a very good resource at Stockcharts as the principals can apply just as much if not more so in betting markets.

On the same site also have a read through both of the following 2 articles by John Murphy and Richard Rhodes. They are solid ‘rules’ to follow, many of which apply to trading on the betting exchanges markets.

Trading Record

Hereford 2.10 – £2.04
Lingfield 2.20 – £4.84
Brighton 2.30 – £4.69
Lingfield 2.50 – £0.26
Brighton 3.00 – £1.39
Lingfield 3.20 – £6.38
Hereford 3.40 – £11.22
Lingfield 3.50 – £5.59
Brighton 4.00 – £1.75
Lingfield 4.20 – £6.09
Brighton 4.30 – £6.79
Hereford 4.40 – £18.76
Lingfield 4.50 – £0.71

Total P&L – £70.51

Here in my first video where I will cover the dutching function and how to make it work on a race using the FormBet ratings. Hope you enjoy, I will link this to a forum post and update as and when I get the chance to record some videos.