Aug
29
Somewhere in a past life I must have offended the good people of Denmark as Admin has asked me to run a test on The Trading Project, the latest offering from the Rochdale Road “new system every week” mob!
I will start the test of The Trading Project in a couple of days and will have to introduce a couple of test rules as the system is partly based on personal judgement about steamers and drifters a few minutes before the race start.
Obviously, personal judgement will vary from person to person, so I propose the following:
1. I will try to find up to 6 qualifiers per day
2. I will place the first bet 15 minutes before the race start.
3. I will close the trade 2 minutes before the race start. If the closing bet is unmatched I will leave it in running and hope it gets matched ok.
I will read up the system and post a brief summary here in the next day or so before starting the test, probably Thursday. As I have mentioned before, I may not be able to test for weekend races due to other commitments.
Cheers, Jon
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The Trading Project Review
This is the latest “give up your day job” system from Stephen Brookes. You get a 60 page PDF e-book of which 50% is devoted to the usual Betfair and racing explanations. The Trading Project claims to teach you how and when to trade and includes two staking plans – one is a stop loss recovery using a recommended 50% of your betting bank on each bet (!). The stop loss is simply to close the trade if it goes against you by a certain number of betfair ticks and to “accept” any loss. The other staking plan uses 10% of your bank per stake without a stop loss.
One of the problems with trading is that the decision when to back or lay is very subjective and therefore different outcomes will be achieved by different traders on the same event. The book does acknowledge this fact but suggests that if you follow their guidelines and the system rules, you will end up in profit.
As mentioned earlier, I have set a couple of test rules so that the subjectivity of trading is at least consistent in terms of the time the trade is opened and closed. The book says you should try to aim for a 5-7% profit of stake for each trade and I will attempt to do so as well.
In my opinion, The Trading Project is good for the absolute novice who knows nothing about betfair and trading horse races on betfair. But for the more experienced trader, I would say you probably already know more about how to trade than is explained in the book. To be blunt, The Trading Project is just a rehash of the many other trading systems in the market place and does not add anything new to this market.
Anyway, I will start trading using the system rules and guidelines from tomorrow and post results here daily.
Cheers, Jon
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11 Sept – Day 1
I have to admit that it is going to be difficult to run a test of The Trading Project because it is not a system but more of a guide to trading – how to identify steamers and drifters etc. I am also pretty busy with other systems and my own bettng efforts, so I think it would make more sense if I look for a couple of trades every day using the Trading Project and just let you know the outcome. I will use the recommended starting bank of 200 and will show the outcome for the first recommended staking plan which is staking 50% of your bank with a stop loss if the trade goes the wrong way!
Two trades today:
Doncaster 14.00 Allegretto WON Layed at 2.60 then backed at 2.96.
SP Layed 62.50 (liability 100 which is 50% of bank) Then backed 55
Greened up as 7.42 for win and 7.13 for losing – approx 7% of initial liability
Great Leighs 20.50 Loveinanelevator Unplaced 9th Backed at 8.60 then layed at 7.40
SP Backed 109.50 (50% of new bank 219.00) then layed 127.40
Greened up as 16.01 for win and 17.02 for losing – approx 15% of initial liability
Profit for today + 24.44
P/L to date + 24.44
New Bank + 224.44
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12 Sept – Day 2
Sandown 14.15 Hail Promenader Placed 3rd Backed at 2.36 then layed at 2.08
SP Backed 112.00 (50% of bank) then layed 127.00
Greened up as 14.40 for win and 14.25 for losing – approx 13% of initial liability
(Bank now 238.69)
Doncaster 16.25 Kite Wood WON Backed at 3.0 then layed at 2.80
SP Backed 119.00 (50% of bank) then layed 127.00
Greened up as 8.93 for win and 7.60 for losing – approx 7.5% of initial liability
Profit for today + 23.18
P/L to date + 47.62
New Bank + 247.62
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15 Sept – Day 3
I wasn´t able to monitor the markets continuously today, so no trades made.
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24 Sept
I am aware that I have not been posting trades for the last few days but to be honest, I don´t see much point. The Trading Project is NOT a system where you follow clear rules etc. It is really a basic introduction to how trading horse races on Betfair works and gives some guidance on how to identify steamers and drifters.
The selection process is pretty obvious if you have any reasonable experience of backing and laying horses. Check LTO, Class up or down, distance, going, weight etc etc. In itself, the guidance is well set out and would be of use to an absolute novice as, of course, we all were at some stage.
But to those of us with some experience of trying to select good trades, there is nothing new in this ebook and is not worth buying if you are expecting some magic formula to make every trade a winning trade!
So, I consider The Trading Project should be filed as a NEUTRAL system. Good basic info for beginners, of little interest to those who have been trading for a while.
Cheers, Jon
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hi
i also get a lot of emails whit the system,i think it is great that you have made this webside ,it have help me a lot so thx keep up the great job you are doing admin.Do you know a progam/bot there is freeware where i can put a bet under betfairs min. price mvh ib
I got it before seeing this however it is actually working for me. i have made a profit for 2 days now. still early days but time will tell. It uses form to pick lays based on things which will make a horse better or worse off from its last race
sorry i meant pick trades not lays
I am a forex trader but I would like to bet on horses using a system. I am a beginner. I have never bet on a horse. I emailes Chris from Trading project and he wrote me back saying he has nothing to do with Sportsbettingmanuals.
I do not mind spending money on a ebook but like everyone I do mind if it is a scam.
Please could anyone tell me what good ebook I should buy to make horse racing my second passion?
Thank you
Alby
I bought this system and have already asked for a clickbank refund. It gives no new groundbreaking information and I wouldn’t call it a system. Basically he says in 60 pages, not 62 as advertised, that if you buy of lay a bet a little before the off, you can trade it off afterwards and you can also green it off to produce a profit whatever. Well, as you can see, nothing new there and certainly nothing that anyone with any experience of betfair won’t already know.
Please could you explain to me what you mean when you say ” to trade off and green it off to produce a profit”.
Thank you
Alberto
Hi Alberto
Trade Off simply means closing the trade. So if we open the trade at 4.0 and the price moves down to 3.0, we close out at 3.0.
Greening is simply spreading our closed trade profit across all competitors in the race, soccer match etc so that we profit whichever competitor wins. The Betfair platform enables you to do this automatically. You can manipulate the amount of profit on your selected horse and its competitors by altering the amount staked when closing the trade.
Hope this helps.
jon
I would happely pay somebody a monthly fee to sent me the selections every day, and wil offcause do the trading part by my self…, somebody interrested??
Wait and see if the selections are any good before you pay anyone to send you any selections
Take a look at Racing System Revolution instead, it has worked quite good over some time and the selections are easy to find yourself.