Horse Racing and Trading

Discussion in 'Psychology' started by KevinK, Jun 17, 2005.

  1. KevinK

    KevinK Guest

    I think that horse racing is much like trading for the following reasons. Money management is key. Your bankroll must be relatively large to be successful. Your bets can reflect your risk tolerance, from pick 4s and picks 6s, like options in which you have a fair chance of losing all your capital but a fair chance of a big score. and small profits through show and place bets, (scalping. Has anyone else ever seen this parrallel?
  2. Linda Raschke had an interesting article about horse racing and trading at her site. I imagine its still there. You may have to register to read all the articles but its worth your time.
  3. Sigh, (those were the good ol' days)

    Years ago I played the "market open" this way. I scanned for instruments with certain opening characteristics. The market maker is human and followed a patteren with confirmation of some other things...
  4. You probably mean that your system should be good, so that you don't need a large bankroll.

    Profit is made by using a good system, not by putting big money in the game.
    A good system will bring big money; big money won't bring a good system.
  5. KevinK

    KevinK Guest

    No, I mean that to be a consistent winner in the ponies, one won't win all bets, or nearly all bets, so they need a large bankroll to suport themselves while cold, no opportunities present etc.
  6. Tell me about the horse-bet you can pull-out of when your horse start,s to give ground , .When i trade i can pull-out the moment my horse goes the wrong way .Tell me which horse race follows the same path???
  7. KevinK

    KevinK Guest, thats the nature of the game, as I said before, you need a big bankroll because you will lose plenty of bets. Yet, you need discipline such as not playing unpredictable races such as maiden races when the horse has never ran before. This discipline is what makes you a winner in the long term.
  8. SteveD


    The method is to place a $2 bet on all 8 horses but when they are rounding the turn for the wire you can then quadruple your bet on the three leaders.

    The winners will more than make up for the $10 you lost on the 5 that did not pay.

    This is why trading is so much more better than gambling. You get to place (or increase) the size of the bet during the race!!

  9. KevinK

    KevinK Guest

    But when I won my bet last race i bet 60 to show on the 2nd favorite, and i doubled up, tell me a trade where you can double your initial investment besides FX.
  10. One of the smartest (and successful) options traders I knew loved horse racing. He'd carry around a pamphlet with statistics and spend 2-3 nights per week at the track during race season. He was convinced that he could win at it - but always admitted to me that he was a net loser.
    #10     Jun 17, 2005