Racing News Blog
The Cheltenham Festival from an in running traders perspective
The Cheltenham Festival next week is a great spectacle, it is the greatest show on turf, a fantastic event. The biggest four days in National Hunt racing.
Markets are very liquid, plenty of money is thrown around. It can become overwhelming for some trading it, not only with the way the markets are but also it is easy to get carried away with the event itself. If you like your racing emotions can cloud your judgement.
If you have strong opinions about racing, emotional detachment can be lost in the heat of battle if you are not careful. Most of the races are very competitive so, there are potentially a lot of things that can trip you up when trying to trade the festival markets.
You will see people on social media posting up their big green screens, don’t get sucked into this stuff, don’t think because it is the festival you should be making thousands more, it is so bloody easy to get sucked into all the hype.
Whatever edge you trade with apart from the added bonus of more liquidity your approach should not change for them four days. Stick to your trading rules.
The core principles in Hunting for Profit of what I teach you on the course remain the same, we do not alter our methods or approach because it is the festival.
We may find some races away from the festival trade much better than festival markets.
Personally I don’t straight gamble at all during most of the year unless it is a day out at the races but this week I do allow myself a few small bets for both interest and a bit of fun as I do for the National, its muggy punting though.
I treat the week as one to enjoy watching the best of the best against each other from both sides of the Irish sea.
All this said there will be some opportunities no doubt, I just don’t add any pressure to make more during the festival.
Picking your battles is important whatever way you trade and it is no different during these four days.
You should not think you need to make money in every festival market because there is loads of liquidity, stick to your edge.
It is what it is, if it offers you a trade you apply your edge to the market, if it does not offer an opportunity you do not enter, it is as simple as that.
If you make no money in festival markets who cares? I don’t care if the festival does not offer good opportunities because come Saturday a race at Uttoxeter might throw up a cracker. We never know what we are going to get in trading, it is why we stick to our edge at all times.
Ok so a bit about the course …
There are two courses the old course and the new course
The old course will be used on Tuesday and Wednesday and the new course on Thursday and Friday. Both courses are left-handed, it is an undulating track and the last half-mile is tackled up the famous Cheltenham Hill. So when looking at the form look for horses proven to handle the undulations, if a horse prefers a flatter track they often get caught out at Cheltenham.
THE OLD COURSE
This is the tighter and quicker of the two courses, this course can be a test of speed, strong travellers go well on this course, horses getting into a good position that are up with the pace can go well, horses with a good turn of foot with good tactical speed can go well on this course too. The home bend is very tight to the finishing line so the run in is shorter when compared to the new course.
THE NEW COURSE
This is more of a stamina test, the biggest race of the week the Gold Cup trip is 3 miles and 2 furlongs, it is a real stamina test, the last 2 furlongs going up that hill is a huge test for all runners so you need a horse that will stay very well. The run in is longer with the track being wider and so this can help runners that stay well with good stamina..
The Cheltenham Festival is a special event, it is the biggest sporting event in the world in my eyes, if you have never been get yourself along to one it is magic.
Enjoy your week trading/ betting, don’t put pressure on making more money, stick to your edge and enjoy the occasion.
If you don’t make a lot of money from it there is plenty of racing throughout the racing calendar in which to do so