I have a new little strategy that takes the stress out of "trading".
I say "trading" because it's actually laying.
I have already half laid all UK markets now
So I'll share it.
It's complicated, but easy.
Lay your horse when the markets are out of whack early.
The average market I lay into is over 110% on the lay side.
If your horse drifts, bonus, you've laid to your advantage and probably well under the final Betfair price.
Here's the tricky bit...
If your horse firms, I have two ways of reducing the liability.
I try and lay it again after it's tumbled right in and then back it back higher(hedging after a rebound), the profit comes off the intitial liability.
Most often a horse will tumble in price, but at least rebound somewhat.
Should this all be matched, you've reduced the effective price you laid at originally.
The second part is to back it at the lower price and then lay it in running (keep bets) at $1.02.
Why $1.02?
Everyone is laying at $1.01, in the first UK race, there's already 50k waiting in the queue to be matched at that price with 6 hours to go, you'd be well at the back of the queue. But at $1.02, any trades at $1.01 have to buy your stake first. There's only 3.5k waiting at $1.02 and you are effectively at the front of the $1.01 queue.
Here's a real example:
Lay a horse @ $1.47 early to payout $30.
Scenario 1
It moves to $1.55, sweet!
You've laid it well under the Betfair price.
Scenario 2
It moves to $1.35, oh no!
Place a win bet @ $1.35 for half your lay stake.
In this case $10.20
Place a lay bet for $10.20 @ $1.02 and make sure it's keep bets in play.
Should the horse win, you've laid it at $1.31
Should the horse lose, you've laid it at $1.59 but for half the stake.
The important thing is that you are laying winners below the price, laying losers for half the stake, but also any drifters for full stake plus your price advantage.
More winners firm dramatically, so you are laying your winners for lower prices.
Combine this with betting back as the horses plunge and you're doing o.k.
I use the combo now.