This is the first report on the 2 Minute Trader Plus which, as its name implies, is a system for trading on horse racing that employs software to select horses to be backed in the evening, generally either favourites or those near the head of the market, that have an excellent chance the following day of dropping in price and thus be layed to lock in a profit regardless of the outcome of a race.

The system will set you back a rather chunky £79.96 per month and for this you will receive a comprehensive instruction manual, 4 short videos together with a calculator to find the size of the lay bet and numerous screen shots of worked trades to guide you through the whole procedure. Up to 6 trades for the following days racing are sent out via e-mail between 6-9pm together with the target price/next best price that should be backed with the specified bookmakers offering “bog” prices. The following morning between 10am and 11am you will receive an overview email advising on the prices to target for the Lay side of the trade.

So you will need to open accounts with the leading bookmakers that offer “bog” prices and a Betfair account to handle the lay side of the trades. Although the system is called 2 minute trader it will in practice require a few minutes more work but with practice no more than say 5 minutes in the evening and 5 minutes or so for afternoon racing and potentially another 5 minutes for evening races. However you do not need to chain yourself to a computer screen all afternoon/evening and this will be a major advantage for many.

The claimed accuracy of the system in their marketing is 70% with a further circa 10% breaking even and 20% going on to lose. The losses however, if handled correctly (i.e following the manual’s instructions), should limit those losses to typically 10% of the initial stake. In practice then, assuming say £50 back stakes, this will produce on average circa £7-15 profit a trade after Betfair commissions and you receive on average 100 trades a month then you should be looking at:-

70 x typically £10 per trade profit = £700
10 break even trades  =£0
20 losses x £5 (10% of typically £50 stake)= £100

Total gain £600 minus monthly fee = Profit £520 per month

The results published in the members area for the 545 selections from 2 February to 12 July actually support the above calculations and indeed are slightly better with some 82% of the trades being wins and 16.5% losers. Using £50 back stakes a profit of £3,740 was made.

It would be realistic to start out with a £500 betting bank to cover the placement of the back/lay bets.

Obviously the major worry for potential users of 2 Minute Trader Plus is the bookies closing down your accounts.

However you will be backing selections that are either favourites or those near the head of the market and this is what bookies expect from typical “mug punters”. The authors of the system have also put a fair amount of time into providing specific detailed actions on how to further minimise account closure happening. Of course over the longer term and dependent on how many people take up this system they cannot guarantee that this will never occur.

I shall publish next week the results of my first 2 weeks experiences using the system.

You can try 2 Minute Trader Plus here: