Quote:
Originally Posted by rickroll
how did you guys get started in this, any books you'd recommend?
more knowledge or models to find spots?
I am probably not the best person to ask about this... because most people tell you to read Andy Beyer's books or pretty much anything published by DRF Press. But those were never really helpful for me personally but I could see how someone could get value from those books.
IMO there's only 3 books you need to succeed in this game and one of them has nothing to do with horse racing.
First I would recommend Money Secrets at the Racetrack by Barry Meadow. The 2nd book is the Skeptical Handicapper, also by Barry Meadow. Both of these are available on Kindle/Nook/etc.
The third book is "The Mental Game of Trading" by Jared Tendler. That's the same guy that wrote the popular "Mental game of Poker" books.
I bring up the "Mental Game of Trading" for this reason: Horse racing is a financial market, and every single thing Tendler says about day trading is applicable to horse racing, especially if you are someone who plays daily like me. I would recommend the Audible version of his book versus the PDF/Kindle version.
I have come up with my own model but this is something I've sunk a lot of time, money and effort into.. but before building your own model and getting into all of that, I think the most important thing you have to do is to define your goal.
Are you someone who is okay with 11 losing months, then having 1 huge month that makes up for the 11 losers? Or are you someone who is okay with a slow grind, banking small daily wins while trying to build a graph that slowly, but steadily, goes up?
I'm on the slow grind/low variance path and that's something that works for me, personally, and that's what my model is focused on. 90+% of horse players will tell me that I'm doing this the wrong way... but i disagree... there isn't 1 specific way to be successful in this game, it really depends on what you are trying to accomplish at the end of the day. For me, I treat this game like a day trading operation while most players are trying to nail p5s and chase carryovers/mandatory payouts.