8th December 2012, 10:57 AM
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Member
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Join Date: Oct 2009
Posts: 463
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Quote:
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Originally Posted by Shaun
Spreading the loss looks like an interesting idea, but i still don't like trying to make a set profit.
Using this type of selection process and following runners you are going to back your fair share of 20-1 and above runners and a number of these will win and since this whole idea is based around finding that winning run i would hate to have only a small portion of money on it when it wins.
You are better off working out what funds you need to follow a particular horse, this will then decide the bank you need to follow your stable runners and as money becomes available via winning selections you can add more runners or increase the stakes on new runners added to the stable.
If you wanted to employ an idea like the loss sharing you could add each weeks new selections to a new pool, week 1 might have 4 runners week 2 might have 7 runners and so on.
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Agree that if you hit a $20-1 winner your not gonna be happy your only winning $10, but on the flipside of that because your betting to win a set amount your limiting your risk. Your solely looking at the winning side of that bet, but you have to remember $20 winners are relatively unlikely to hit at least consistently, so you want to limit your risk. By having a set profit your betting a small amount on those $20 horses and a larger amount on the $5 horses who are meant to have a better chance of winning.
I honestly think thats the hardest part of this game sometimes and it's something I've learnt a lot from share trading. It's not always about how much you win, obviously this is where you get your profit, but limiting your losses as well is a big part of money management.
Obviously you know all of this Shaun, but your post just kinda reminded me its always a good idea to weigh up the amount your risking equally with what your potentially winnings will be.
I'm liking the loss sharing idea, i'd honestly give it a crack with loss sharing if I had the time and ability to track it. Guess i'd have to black book each selection so I could follow it until it wins.
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