Burning the midnight oil to bring you all some revelations
1st December to 9th December
671 horses traded at $1.50 or less in-running (including 1.01ers)
Only 471 of these gas guslers won, leaving 200 horses trading at $1.50 or less and not winning.
A lot traded below $1.50, way below $1.50, but for this exciting exercise here's the workout.
377 traded at 1.01 and 4 lost giving no profit after commission.
352 traded at 1.05 and 16 lost giving no profit after commission.
414 traded at 1.10 and 33 lost giving 5 units loss without commission added.
327 traded at 1.20 and 35 lost giving 23.40 units loss without commission. added.
362 traded at 1.50 and 106 lost giving 22 units loss without commission.
They do get beaten, but unless you're selective, laying these blighters leads to the poorhouse.
Commission would also kill backing them, you might make 1% if your lucky.
Hope I saved someone some money.
The best scenario is to back early and trade out later as even if they look like winning 30% of them lose.
Imagine eliminating 30% of losers