Hi Ocho,
I feel you are on the right track with the $50 Stop loss.

Allowing for 10 straight losses in a row.

This also allows for some more races to be run if there are some winners in between.

Your selection plan seems to be OK.

If one wishes for greater SR, I feel one would have to target lower prices or take 2 Horses a race.

But I feel the end result will be much the same.

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Cheers.