please like and comment on the video below that will allow me to produce
better quality videos and more of them in the future if you're interested in
learning to trade successfully in sports then why not visit the BET angel'
Academy where we have more detailed videos stop don't go in play whatever
you do when you're trading don't go in play because it will absolutely kill you
now I know that you would know this already but what I'm going to do in this
video is explain to you specifically why you shouldn't do that
but also give you a solution that will help you overcome that difficulty of
trying to take stuff in play but let's first of all examine the mechanics of
why it doesn't make any sense to take something in play for you don't intend
to now as you know my specialist area is pre off racing that's what I do
that's what I'm really good at and I do dabble around in in play stuff and I
know and play really well I can read a race beautifully now funny enough but
there are people that are better at that than me and they're likely to be on
course so I do some automated in play stuff simply because I think that
catches momentum in either direction but in terms of sitting and watching a race
I tends to as soon as I finish trading one race I tend to start looking at the
next one and start preparing and looking for opportunities in the next race
especially in the summer but so you know what I'm trying to say here is I don't
go in play intentionally but I will tell you that even I have gone in play and I
can give you a funny story as to how that happened so I remember it really
well it was at great losses was called then not at jumps for cities that is
called now and it's burnt on to my mind because it was so painful and I was
sitting there watching the race and my trade wasn't going particularly well I
was hanging on a bit to put the closing position in and you know waiting for you
basically things were not going particularly well and then all of a
sudden they took a turn for the worse when the market went in play and I was
left there open mouth going what just happened there cuz I was looking on the
TV I could see the horses were still being loaded so why was the market in
play but what I didn't realize that I'd done is
actually paused the pitchers and then restarted them again and that like 15
second gap had left me behind what was going on in the market real-time and
then suddenly I was in play with a huge liability and things just sort of spiral
out of control from there and everything was just getting worse and worse biggest
ever loss that I've ever made in my entire trading career but the
interesting thing was my reaction to it because you know first of all there was
the hot flush then there was the anger but thankfully they both only occurred
for a brief period of time and then what I did was I just dumped my entire
position I just realized that in fact I'd made a mistake and I had to get out
there was no you know it was going to be painful I wasn't going to enjoy it and
it was going to be a nasty little loss but I just had had to get out so I
dumped everything can took the loss and then went off for a walk for five
minutes to gather my thoughts before settling myself down and starting all
over again but you'll be interested to know even when that occurred I still
ended up by the end of the week so there's a moral in that story somewhere
but also consider this you know this will stop you from going in play say we
have a thousand pound I'm not gonna say that you've got a thousand pound but I'm
just using a big number to reinforce this particular viewpoint we're trading
something that's odds on so the odds increments are moving one percent at a
time so if we get that one trade correct and we trade a thousand pound say at two
and we lay it back into the market of one ninety nine we make the grand total
of ten pounds so we've risked 1,000 pounds and we make ten now that is
trading for you because trading is all about getting a percentage return on
your overall stake so that's perfectly normal as long as you have the positive
and the negative in balance you'll be able to trade just fine but of course we
have two edged that position as well so our 10 pounds suddenly becomes 5 because
we have hedged the position into the market so a thousand pound has produced
a point zero five percent profit or basically 1/2 hundredths of our steak
so if you want to trade that way and you want to do those things that's fine as
long as you've got your risk in your reward in balance because if you balance
both of those out you'll be fine you're not going to do any damage to yourself
and capital preservation is key when you're trading so what you're doing is
you're risking money in the market you're putting money in and then you're
taking money out because you can only ever return a small percentage and on
this particular case we're saying we're going to get a half a percent to return
so ok we're only going to get half percent on Arthur's we're only going to
make 5 pounds when we put a thousand pound through the market let's take that
in play and see what happens so we back a horse at a fat
odds of two for a thousand it goes in play and everything goes disastrously
wrong and in fact the horse misses the kick goes wide on the bend and suddenly
his odds 16 20 or whatever you can't take a loss because the potential for a
loss of much much larger arch is huge and then of course he could come back in
win the race being Salt's law that's something that he could probably do so
taking a loss is going to feel painful for you at that particular moment in
time so if you decided to just let that run and you lose your thousand pound
this is the mountain that you're going to have to climb to get that thousand
pound back we've already said that you're only going to make half a percent
return on that thousand pound so in order to win back the thousand pound
that you just lost on that horse that missed the kick and went wide and ended
up losing easily you're going to have to do 200 successful trades to get that
back 200 successful trades and that's 200 in a row maybe you don't do it in a
row maybe you actually go 150 lose a bit then win a bit lose a bit with you can
see it's gonna take in and Norma's amount of time to get that money back so
so what's the solution to that well it's pretty obvious really you should just
dump a ground on the favorite in the next race and hope that he wins of
course you should no don't do that but that is the instinct that people find
they blame what happened on something else so when when I had my PVR on and
and missed the start I could have just sort of said our while you know I'll let
it run and then maybe that turned into a loss and then I thought
well it wasn't my fault and it's not going to happen again so I'll just dump
a couple of grand on the next race in which case that loses and it's like well
if you would so can you see you end up trying to justify the main story and no
don't do that you you're into the market you're out of the market you hide your
position and that's it you hedge it for a profit for a loss whatever is you
hedge that position because that allows you to move on to the next race and do
whatever you need to do on that particular race
what you don't do is try and avoid the loss and you don't take it in play
because the odds are in - you're going for one tick profit over here and you're
going from minus 200 over there that is not going to work doesn't matter how
clever you are how many times you do whatever you do that's not going to get
you out of jail so you have to exit at post time or just before the race has
started and to get that thing back into balance if you don't do that you just
it's a road to disaster you can't do that if you want to have a gamble on a
race set up a separate account and gamble on that but don't do it on your
trading capital capital preservation is key you must retain that trading capital
in order to live and fight another day and throw another hundred races to
around however many you need to do so yeah don't go in play because there's
nothing that will compensate for you when you lose that trade you may get
away with it 50 times in a row but on that one occasion that you don't get
away with it you're in big trouble and you will not be able to recover the loss
so what do you do about it well I've said already that you should open a
trade close the trade and hedge whatever that is whether it's red or green at
post time but you'll be interested to know that I very often take things right
to the wire so if I've got a decent trade or even maybe a losing trade that
I think is about to turn out good then what I'll do is I'll hold and hold and
hold and hold and hold that position however you can there's a little trick
you can use you can hold the position right until the horses jump and then
exit at that particular point and it doesn't involve exiting in play how do
you do that you take SP and this is one of the little tricks that I'll use now
and again where I'll trade as much as I can and for as long as I can within
market and then I'll probably get out before posts home but very often what
I'll do is if I think I'm about to get matched on something for good or bad
I'll take it to SP an SP was originally designed for
people who wanted to just have a bet they didn't want to trade and they just
wanted to get on it but whatever the price was composts time so SP was
designed for somebody with the 10 or a fiver who just wanted to back the
favorite at 3:30 didn't wanna have to think about it didn't want have to put a
price up on the exchange and do anything he'd just say a tenner SP on the favour
in 3:30 so it was never designed for trading but in fact from a training
perspective it's a really nice little get out of jail clothes because what you
do is as you approach posts time you just turn your closing position into a
take SP order now it won't hedge it because you don't know what SP is SP is
very likely to be the last traded price but you can't absolutely guarantee that
so you will have to hedge it in play but nonetheless generally that will get you
out our posts time now it works slightly differently and different exchanges so
on Betfair SP resolves slightly differently from on bet tag he tends to
find because there's lots of on course players you get SP s sort of resolved a
few seconds after post so for example SP doesn't work so well on shorter races
because if a horse gets a good start that will influence the SP on bed deck
they introduced X SP not so long ago exchange SP and that seems to work
pretty well and it doesn't seem to suffer from the same characteristics it
resolves to a much tighter book than you tend to see on Betfair but you can use
it on both of them and I do fully use that and the way I'll do it is as we're
coming towards post time there's a number of ways you can do on bet angel
you can click on the take SP button but you can also use the thing like a safety
servant that will take all of your orders to recipe anyway so if anything
happens or you adjust the PVR incorrectly or you accidentally go and
play it can actually take all of those orders to SP for you so it's worth
checking it out we have a safety servant and take all SP on the forum I'm pretty
sure we have it's very easy to create one or you can either do it within
automation as well so yeah you can click the take SP button or you can use
a safety seven or some automation to take something to SP but it was never
designed for use as a trading function and it was but accidentally become a
very useful way of exiting a trade at post time because what happens is you
put your water to SP it gets matched in SP and then you just hedge it as the
race gets underway the most important part of the trade is done it's closed
your position you just have to apply the hedge you know that particular moment in
time it's probably a good idea for me actually it's do a couple of videos or a
video to just show you this in action the thing you need to be aware of is
like if you put 10,000 SP you're going to distort the market because SP is
formed between people on the backer and the layer side so you can't use it for a
ridiculous amounts of money however is there and it's a really really useful
way of being able to exit a trade without going in play
you
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