A Day of Experimentation

Results from 26th March - Day 20

I tried some new things today and although I ended the day down by about 6% I was glad I did it. This is a small setback in financial terms but a leap forward in understanding the markets and strategies that work and those that dont. I dont have all the answers now but at least I know to avoid certain types of strategy. The gains can be good but they are always ofset by losses. The approach I am taking about is in- race trading. The reason why I looked at this was becuase I still dont understand how to trade races where there is no clear favourite and/or the odds are longer than say 4:1. I find that I have to make alot of ticks on these races as the green up trade reduces the overall tick profit substantially. I cant see that its worth the effort. So I decided on these races I would try trading them in running.

The more I trade the more I am beginning to appreciate that it may take more time than I expected to get into a general style that suits me and that I can apply daily to the horse racing market. Until that happens I think I will be taking some small steps forward and some medium size steps backawards. My overall net position may not improve as I go through this experience/learning curve. I am ok with that, as long as I never forget that learning new ideas must never be at the expense of capital preservation.

Tomorrrow I will go back to pre race trading only.