G'day paul,

I used to do this in th e UK with some success, in fact in most cases your pick will win eventually and show a good profit.
I strongly suggest that you treat each horse on the list as a separate sequence, sure sometimes you have 3 in the same race , you back the winner but end up losing but conversly sometimes the 33-1 shot gets home and you're a long way in front, one thing that I HAVE learned is that you have to stick to it, by all means have a maximum amount that you are prepared to lose on that sequence but then stick to it through thick and thin.

By example I've had a good run recently except for race 8 at Perth, my plan called for an equal maximum bet on Mikaldiko and Who Did It, as it happened I won money, but if Who Did It had won I would have had a fantastic day, if I'd chickened out who knows?? you have to take it to the limit (your limit)