My advice (for what it's worth):

Don't chase the big odds runners unless you know what you are doing.

Don't dismiss short odds chances - there is more "value" there than you think. In my experience it takes a lot less work (and a lot less stress) to make a profit out of horses under $3.00 than the ones over that price!

Never rely on a loss chasing staking plan to make a profit.

Making a profit out of horse racing takes a lot of time and work - if you aren't willing to put the work in then either accept that you will probably lose money or only break even OR don't bet at all! (Alternatively pay someone to do the work for you BUT be very careful about who you pay!)

And above all remember:

"Be careful whose advice you buy, but be patient with those who supply it. Advice is a form of nostalgia. Dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it's worth."
Mary Schmich - from the song Everybody's Free to Wear Sunscreen (some very good advice in that song!)

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"Computers can do that????" - Homer Simpson