Don’t waste time searching the internet for new systems or tipsters.
Avoid spending hours on form study unless it is showing a profit and focus your time only on what is working.
Check your past records and determine what has been your most successful angle.
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You may be using a system, ratings or form study; now analyze why this was bringing in winners and break the selection process down into a series of steps. Remove any step that does not appear to make sense.
Now start paper trading but trade each step of the selection process. After a few weeks you will see a pattern emerging and be able to identify which steps are profitable.
Take for example a system that follows horses that have run in the Champion Bumper at the Cheltenham Festival.
Step 1 – make a list of the runners
Step 2 – paper trade all of them on their next 3 outings
Step 3 – check the type of race for which you obtain the most winners – NHF, hurdles, chase, novice races, handicaps etc
Step 4 – which trainers enjoy the most success
The unprofitable steps can either be removed or tweaked to bring them into line with the steps that are working.
After step 2 make a note of any profit – then try various ways to improve the results for example by removing certain runners.
It is also worth considering they type of race. Horses that ran in the Champion Bumper usually go on to tackle hurdles races later in the year. Some however might continue to run in bumpers (National Hunt Flat races).
Then move on to step 3 where you again establish the profit for just this step and then attempt to improve it by removing or changing the selections.
In this way you are building a picture of what is working and what should be discarded in the selection process.
The eventual aim is to optimize the system or selection process to provide you with consistent profits and a better understanding of how and why the system works.
This in turn will ensure you are not wasting valuable time on chasing unprofitable betting methods.
Based on an online gambling article by Michael Wilding of Race Advisor
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