Nothing to report again I’m afraid. However, due to my frustration I decided to do some short term trading using the information I have learned so far. By the term short term trading I mean within the last 10 minutes before the off. In System X Trader it recommends trading only on handicaps for short term trading. I decided to trade on every race and every trade was successful but one.
To do this you need a bot where the market (the money coming in) is refreshed every second. I have to say it is quite hectic and does almost make your eyes go funny staring at all 6 columns which are constantly changing. I tended to trade with every 1 or 2 tick price movements so very litle profit in it but if you try to be greedy the market could move the other way which means losing money.
So I worked out yesterday, although I was only using small amounts of money coz I’m testing, if I was trading at £200 a trade (that’s £200 on the back and £200 on the lay) which means you would need a serious amount of money in the account I would have made about £38 for a whole afternoon’s work. Not exactly exciting is it? It wouldn’t be enough to live on if you did this every day 7 days a week.
I’m gonna have another go today and I’ll let you know how I get on tomorrow.