Betfair trading – Peter Webb – How to read and trade a racing market
Here is a good example of reading the market.
By reading the market what we are trying to do is ‘feel’ what the market is trying to tell us.
Is it trying to back the runner we are looking at, is it trying to lay it? What price is it willing to do either?
I’ve chosen this video because it was a tough trade but also because it’s a nice narration of my thoughts on the market.
People have often asked for this, something that isn’t straight forward. So here it is, you can listen to me dissecting how aggressive I should be on this trade. That’s what I tend to vary, how much I trade. If I’m not confident I play it safe and trim stakes, but if I’m confident I’ll let rip. This trade was tricky.
During the day I get a mixture of trades. If you tweet me I’ll tell you how each day feels. Some days it’s easy to read and others not so much. Some days it’s easy to spot which markets you should and shouldn’t be trading aggressively.
By avoiding or toning down your activity you will automatically minimise your losses by exposing yourself to less risk when the market isn’t showing you anything.