Like anything you shouldn't just be making selections based on price. If you said "I'm going back all horses priced @ $3-5" you'd make a loss too.

You need to figure out a method/system NOT based on price that you use to pick the horses you will lay. Run that in "test mode" for a while to get some stats, and when you'v got enough data you can make decisions about imposing odds limits.

But I stress just picking horses based on prices wont work in the long run!