Monday, 5 January 2009

Making the most of a poor racing day

I had previously set a rule of not trading if there is only one meeting on so I could spend my time doing something else. I was very tempted to just take the day off when I heard Wolverhampton had been abandoned and just go shopping. Then I thought, instead of worrying about my daily average statistics, focus more on the year-long target; so I traded, just as I would on the Wolverhampton or Kempton evening racing. It paid off and knocked off a nice sum off my target. There was good liquidity today, undoubtedly because the Lingfield races were the only races to focus on for everyone. I traded well on all the races except the 14:45 and 15:15 where I think I was overwhelmed with how well I had done in the first 3 races. I just hope all of tomorrow's meetings go ahead!

5 comments:

allan t. said...

those are really impressive results especially on a difficult day like today, you said you use a very large bank, i'm curious if you sometimes place large amounts just outside the money with no intention on getting it matched to influence the weight of money? all the best, allan

Adam Heathcote said...

Hi Allan, I'd say I have a large bank, not I use a large bank! I don't influence the WOM, it complicates things, makes things messy and can be dangerous. I prefer to keep things safe!

Rick Ford said...

Hi Adam,

I'm really impressed with your blog and the consistent profits you deliver. I also went to the Peter Webb school but I gave up a few weeks after (had to get a job)and I had limited success. My question to you is; what is 1st type of trade you use to get in the market? Do you look for a few quick scalps on the Fav or look for horses steaming or drifting or another method?

Your method of entering the market would be really useful for me to know.

Cheers & GL

Rick F

Krzysztof said...

Heathcote! You're doing extremly well! Just keep it up!

Adam Heathcote said...

Hi Rick, my first type of trade I get in the market can vary depending on the situation. I look for quick scalps and big swings - it's best for making money no matter what the market is doing.

Cheers Krzysztof!