CHELTENHAM ON BETDAQ: Cheltenham is one of the most exciting events of the year! But where do you start? It’s definitely not like trading your standard week-day racing. As a generalisation two things happen; big profits, or big losses… In this post I’ll give you ‘heads up’ on what to expect, where to target your attention and what to sidestep.
What can you expect?
Cheltenham festival markets are a completely different beast to your usual race card. The main difference being – Large betting volumes. Lots of it.
With the added betting from the punting public, rich owners, trainers, owners and all their connections it makes for an exciting opportunity as a trader. All the additional turnover is welcome!
For trading Betdaq this is brilliant. With lower commission rates, no premium charges and added tradability it makes for an ideal situation to those learning and already making an income from trading betting exchanges.
The markets will behave a little different to what you may be used to though. If you haven’t traded a Cheltenham Festival just yet it’s best to start off slowly and work into it. Remembering to limit downside over maximizing profitability.
Where do you focus?
Everybody has a different edge into the exchanges but in my opinion; Cheltenham is most favourable for those that like to scalp (make small short-term trades, usually for only a tick or two). With all the added volume you don’t necessarily need the price to move in order to make money, that’s right, you don’t need to predict where the price is going even.
Price action tends to be more static than usual, although that doesn’t mean gambles will unfold. Extra betting volume means more freedom to use larger stakes. On the down-side there is a lot more unmatched money within the market, meaning you may have to wait a long time to get your bets matched.
It you’re giving it a go for the first time around, I’d suggest picking your opportunities carefully and keeping patient, after a day or two you’ll start to settle into a slightly different way of doing business. Once the balance starts to grow (possibly after the first couple of days) you’ll be in a better position to start increasing stakes and activity. It’s worth bearing in mind Friday’s card is often the best, the Gold Cup is always a dream to trade as long as you don’t become too over-excited!
What to miss out?
The biggest concern is, as always; denting your trading-confidence early in the week and fearing those good trades you ‘missed out’ particularly with more profit on the line. Cheltenham is awesome for making record profits but remember it can swing both ways, getting caught with an over-sized stake in relation to your trading can be damaging to say the least, remain defensive.
The lower grade races in-between are often poorer to be traded with all the focus being on Cheltenham. If you’re trading Betdaq it’s best to just focus on the festival. Getting to the markets early and building up good positions within the market is helpful. Missing the races in-between aren’t likely to make much different on the overall bottom line, especially when considering the benefits it can bring to your Cheltenham trading.
Overall…
Overall it’s a great learning experience, if you’ve traded Cheltenham on other exchanges before you may find it a little easier to get your bets matched on Betdaq. Unmatched money que’s tend to be smaller than elsewhere.
The main things to remember are; remain patient, be methodical, don’t get over-excited and don’t forget to enjoy it too!
Whatever happens it’s bound to be a learning experience. The Gold Cup on Friday is my favourite race of the year, win or lose it’s great to be involved with and watch the madness unfold within the market. Money just pours into both sides of the book in the final minutes before that Cheltenham roar!
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