As my regulars readers know only too well, this eBook was completed around 1-2 years later than planned. That was partly due to personal and health issues which got in the way for the first year, but more due to the enormous under-estimation I made in trying to assess how long it would take to write. I was way off the mark with my initial estimates! So firstly I must apologise to all my patient (and not so patient!) regular readers.
Only once I was well into writing it did I realise just how huge this subject is, but also how much information I had lodged into the dark corners of my brain which I had forgotten I even knew! I was determined to leave no stone unturned, no subject ignored, and not one single detail omitted. I decided that leaving out just one tiny element, no matter how small, would mean I failed to do everything I could to help people learn to trade these markets.
That was the promise I made when I agreed to write this ebook, and so it took months of writing and re-writing to include every detail as they came to mind, many of them only coming to mind long after writing a whole chapter on a particular topic. That would then mean re-writing that whole chapter, often several times, to ensure it was all in there but making sure it was still actually readable! Considering that there are around 26 chapters, most of which have quite a few sub-sections, you can hopefully understand how this ‘ebook project’ quickly turned into an absolutely colossal task. At various points I was seriously inclined to give up as it just seemed impossible to do this subject justice and genuinely help those serious about becoming traders to achieve their own goals and ambitions. I suspect that without the pressure of readers constantly chasing me to get it done, it would never have been completed at all. So yes, I suppose hassling me did ‘work’! I am only saying that now because I am planning on never writing another ebook as long as I live, so you won’t get another chance to harass me!
As you will learn from the book, I had a background in stocks and commodities long before I discovered Betfair. I knew quite a lot about market dynamics and trading in general well before I opened my first sports market. For a long time this didn’t seem to help me much, which was a nasty surprise to me. I waltzed into the Betfair markets assuming I should ‘clean up’, and easily too! How wrong I was, and ridiculously arrogant of course. Several times that arrogance was almost my undoing. But I stuck at it, mainly due to the large degree of leverage you have in these markets compared to all other markets, in other words the amount of profit you can make as a proportion of your bank (or stake). This was the main attraction of Betfair for me. As I explain in detail in the ebook, there are some unique things about the Betfair markets which make them many times more lucrative even compared to all the ‘usual suspects’ like Forex etc.
When I finally stopped rushing (****ing!) around in the markets, slowed myself down significantly, and carefully set about applying my stocks-based knowledge to the Betfair markets (the charts in particular), things finally started to make some real sense, and with it, my results immediately improved.
This eBook documents that journey of discovery, and in doing so it explains not only all the things you need to know to trade successfully in these markets (nothing is ‘held back’), but it also tells you all of the pitfalls and mistakes you’re most likely to make, enabling you to see them coming and effectively side-step them. It’s a detailed map to guide you safely through what can be an absolute minefield to any novice trader.
Whilst I understand that people want to know “how” to trade the racing markets successfully, I made it one of my primary objectives in this ebook to do a lot more than that. Especially with this being my last ebook, I wanted to give people more than an ‘instruction manual’ for a ‘method’ or ‘strategy’. Instead I give you a full and complete understanding of how the racing markets work. I believe that doing this will enable readers to go way beyond just what I show you, and way beyond just what I even do in the markets myself. Instead, you can take this fundamental understanding into any event, any ladder, and in fact any market on earth (including stocks, commodities etc). This is more of a complete guide to trading, not just racing trading. Don’t misunderstand me, the book is completely focussed on pre-race trading, but the knowledge you will gain from it relates to, and can be applied to just about any market on earth. By understanding how the dynamics of all markets are essentially the same, this ebook could easily set you up for a career in various other forms of trading, if that ever took your fancy, which it probably won’t!
As you will see, the phrase “ebook” doesn’t do it justice. It’s enormous at over 460 pages and you won’t be able to read it in one sitting. Even for fast readers I would expect you’ll need a few days to a week, and that’s just the first read, you will probably need several to fully absorb it all. The ‘table of contents’ at the beginning is a full 3 pages on its own.
Here are some of the topics covered:
- Stock market similarities (and differences)
- Equipment required – hardware and software
- Money management
- Market Influences – both technical (price dynamics) and fundamental (e.g. TV commentary)
- Mindset and psychology
- Various trading strategies for different race types (explained separately)
- Timing – explaining the best ‘trading windows’
- Market Analysis
- Price distribution
- Book Balance
- Graphs and charts
- Support and Resistance
- Volume, Liquidity and Flow
- Choosing good entries
- Managing trades – adding/removing stakes
- Stop losses and exit strategies
- Detailed examples with images
My goal for this project was quite simple:
To produce the BEST educational product on pre-race trading available online.
I am confident that I have achieved that goal, and then some. I am not alone in that view, in fact I didn’t have that view myself until others convinced me of it. I asked two beginner traders for a completely impartial review of the ebook once it was complete. They were both told to pull no punches and be 100% honest, they are not old friends of mine or anything like that, in fact they are both just readers of this site who had previously purchased another product of mine. I chose them from a list of people who had all expressed a keen interest in being one of the first readers of this once it was complete. Here’s what they had to say:
“Review of Pre-Race Trading Ebook
I have been asked to give an independent and uncensored review of the Pre-Race Horse Racing Trading E-book by Tim Scott.
Put simply, this book is the seminal piece on pre-race horse racing trading. It will prove to be the answer for those who are dedicated to applying the principles set out in the text and who have a real interest in horse racing trading.
It is wholly unique in its approach. It takes the reader from inception to the very end of the trading experience. This includes psychological and technological preparation for trading; explains the rationale behind the construction and behaviour of the horse racing markets; demystifies trading software; explains key terminological and trading points and then provides a detailed explanation as to how to trade these markets with detailed examples. The book provides the reader with an entire journey from the point that the computer is turned on until it is turned off. The reader is also given tremendous insight into other principles so that they finish the book armed with a variety of trading methods.
I have read a lot of books on trading, and have previously read plenty of material on trading currency and other markets – this book stands out for the following reasons:
a) Nothing is hidden from you. Instead of paying thousands for a course on trading and coming out of it with a good understanding of only some of the elements of trading (and no meaningful materials for reference), the book delivers this and everything else you need for successful pre-race trading. You do not get half the picture. It is all there and you have a source to be able to refer to time and again.
b) You will learn the processes of trading the markets and over time could devise your own strategies for trading them. You do not need to do this because the manual teaches you the author’s trading methods and so you could just abide by those and make your money that way. However, as you are given the understanding of why the markets act in certain ways and how to trade well, you could devise your own strategies.
c) The book teaches you how to manage the trades once they have been identified so that you maximise your profits. It helps you avoid catastrophic trades whilst making sure you do not leave the trade too early. It really is as detailed as this.
d) The principles which are outlined in the book are worked through by detailed examples. You actually see the factors outlined in the book working together and the theory of the market plays out through these examples. It has terrific detail but is delivered in a way that allows you to understand everything.
If you are serious about trading then you will not find a better book available than this one. Its value far outweighs its price and many times over.
I could not recommend the book highly enough and I look forward to putting the methods into practice. A fantastic piece of work.”
Jonathan Smith, Newcastle – 16th January 2019
“The Pre-Race Trader’s Bible review
In this modern society, we can say that there is only one thing (other than sex, of course!) that is almost guaranteed to sell a product; the (often false) promise of being able to make money from the comfort of your own home and give your boss the middle finger! Cue the vast array of “home business” courses/schemes/YouTube channels/blogs that are floating around on the internet today; affiliate marketing, Amazon FBA etc. Trading courses (be it football, horse racing, tennis, forex, stocks, options, even the dreaded cryptocurrency) are probably the most publicised of them all. Speaking specifically of Betfair trading (although this figure is probably true in all trading fields), 99.99% of the authors of these courses are scammers, with people selling information that is incorrect, risky, and in no way able to give you an edge in the markets. They do not care about you and sell these products simply to cash in on your longing to be able to make trading a reality for yourself; I have read a fair few of these over the last few years. Of the remaining 0.01% of people that are not trying to scam you (I have also tried a few of these products too), there seems to be something that just “isn’t being said”, leading people to hunt around in the dark until they finally manage to find the missing bits of the jigsaw, a long way down the road; most will of course give up way before this point. Considering all this, I believe (and I’m sure you do too) that finding a Betfair trading resource that is both trustworthy, AND valuable, is as rare as finding a little leprechaun at the end of a rainbow with a pot of gold to hand to you! Well, the luck of the Irish is certainly with you here, as by landing on this page you may well have found one of those leprechauns! However, please don’t mistake this analogy for me saying that you will open the book and become instantly rich; no! I am simply referring to the sheer value of what you have found. Of course, it is still down to you to take action, buy the book, and then carefully follow the advice contained within it. (Just to be clear!) If you do this, you will realise that The Pre-Race Trader’s Bible is the ONLY resource you will ever need to make a success of the pre-race markets.
Before getting into the details of the book, I wanted to comment on the author himself as I feel that it is important to know the type of person you are getting involved with by investing in this product. Not only have you found an amazing product, but you have also found a truly genuine author who REALLY does care about the people he interacts with. He has put a lot into producing this fantastic eBook, which includes putting on hold a lot of his life (including trading) in order to complete it, with no obligation to, especially given how little this book costs in comparison to the worth of the information that is contained within it. At that price, you could almost say that he has just produced it as a favour to us all. If you email him a question, he is very quick to respond, and you don’t get a one-liner response (as I have had from other vendors of services in the trading industry), but rather you get a PROPER response. So, what I am trying to say here is that you are in good hands!
And on to the book……. At this point I should clarify that, henceforth, when making comparisons between this book and other resources, the other resources I am referring to are purely the 0.01% of material I previously alluded to; we no longer need to concern ourselves with the 99.99% of junk! I must also state that these comments are MY opinions and interpretations, but I am confident that most would agree.
Level of detail
The first thing that I believe sets The Pre-Race Trader’s Bible apart from everything else out there on this subject is the sheer level of detail – 464 pages of pure detail! I would refer to other offerings on how to trade these crazy markets as merely a “guide”; whilst the information provided in them isn’t wrong in any way, they do nothing more than point you in the right direction, often leaving you confused and overwhelmed with the wealth of information provided, with no real idea of what to do with it all. On the other hand, The Pre-Race Trader’s Bible is EXACTLY what it is entitled; a Bible. For any atheists out there, who put no value in the content of any religious book, then I will refer to it as a comprehensive instruction manual that presents you with ALL the theory and mechanics of the pre-race markets, and then shows you EXACTLY how to apply said theory in practice. The latter statement may sound confusing, so I will clarify; Tim is NOT providing you with a trading system in this book; this would fail as a strategy because of how varying these markets are. What he does however (and very well I must add) is provide you with a methodical system of thinking through these markets, which is an entirely different thing all together. He literally explains his entire thought/action process, from the point of firing up the race card in the morning, to the point that the market goes in-play, and this way of educating on the topic is purely unique to this book. This ALMOST feels like a live, 1-to-1 personal tuition session. There are some REALLY intricate details contained within this book, and, for those that have dealt with other pre-race trading material previously and still found no way of making it work, upon reading this, you will have a number of “AHA!” moments (as I did), and that’s before even visiting any ladders. You will then realise that it is those things that are the glue holding this pre-race trading mosaic together that you were not being told existed before. For those that have found The Pre-Race Trader’s Bible before other material, I would suggest you need go NOWHERE else!!!
The colloquial writing style is something that I found particularly appealing, which made reading all 464 pages of the book really easy as it felt like I was just having a long conversation with someone; I would even go as far as saying that it was fun to read, which is more than I can say about some of the material out there. Tim is also very articulate in his writing, conveying complicated points very easily with no ambiguity; I found only a couple of occasions where I felt the need to re-read a sentence or two for better clarity. I think this was helped by the use of numerous, relevant analogies throughout. In my opinion, when trying to educate someone on difficult concepts, there is nothing better than a good analogy to give a deeper understanding of something, and Tim seems to have a whole load of them stashed away in a chest somewhere!
As mentioned before, it becomes clear after reading this book that there are gaps in the information provided by other material out there. Tim spends a long time laying out the foundations, and some of the information may, on initial look, seem irrelevant. However, you will soon see that it really IS relevant and will soon be grateful that he doesn’t just go diving into how to click around on the ladders. He has a background in stocks and uses this to his advantage in teaching various concepts. Having a similar background myself, it is really interesting to see that there are many similarities between the Betfair markets and financial markets, many of which I failed to see before myself. Some readers may zone out at this point in the book, but I can assure you that it is worth staying with it; don’t worry, he doesn’t go into overwhelming detail about it, but enough to convey his points and it is all relevant, particularly when it comes to discussing how to effectively trade trends within the market. I have seen another vendor attempt to educate on these concepts in their pre-race trading offering, but with very limited success, to the point where I thought that “this concept must mean a different thing when applied to Betfair”; it didn’t, of course! This leads me nicely onto this next point, because it is here that much of that aforementioned information becomes relevant. Some of the best parts about this book relate to showing you how to manage a trade once you are in one, from start to end. Most other material shows how to get into trades, at which point you are left on your own to work out the rest! An entry is no good if you don’t know where to exit for profit, or worse, where to get out to minimise loss! In terms of the actual trading techniques discussed in the book, the bulk of it is dedicated to showing readers how to analyse and attempt to capture those meaty trend moves. However, Tim also goes into detail about scalping and range-trading, all of which, when seeing his perspective on things, gave me a couple of mini “AHA!” moments!
If you have looked at any other material on pre-race trading, I think you will find Tim’s methodology rather unique, quite refreshing and in a way, liberating. I will say nothing more. If you decide to take the plunge and purchase the book, I think you will realise what I mean; for those that haven’t looked at anything else, you need not concern yourself with that comment!
Videos courses vs. this eBook
There are other pre-race trading offerings out there that attempt to deliver their content in the form of videos, and one may assume this to be better than a PDF. In fact, I have seen it addressed in the FAQ section of one of said courses that video instruction is far superior to a PDF. If The Pre-Race Trader’s Bible were a run-of-the-mill PDF document, I may agree. In this case, I will say that actually, the way in which this book is written is FAR superior to having videos. Your experiences may differ to mine, but I have lost count of the number of times I have attempted to sit down and watch someone clicking around on a ladder screen for 15 minutes, gotten confused with what was going on, and then fallen asleep in the process! One such video I had to re-watch 5 times because I just couldn’t keep awake (at 2pm in the afternoon!). Now that is NOT very efficient for learning. It is also surprisingly difficult to watch someone trading on video because things happen so fast that it becomes almost impossible to follow what is going on. Not to mention the fact that when someone is trading and filming their trades, they’re not exactly giving their full attention to revealing all the detail of their trade and all of their inner ramblings about it. On the contrary, The Pre-Race Trader’s Bible is so engaging that the only time I fell asleep was during one sitting; I was ill, had been up since early that morning, and it was nearing midnight at the time; I think Tim could forgive me for that! It’s such an engaging book that you just can’t fall asleep! But, here is the real gem; Tim sets up numerous examples to explain concepts/thought processes etc. by using a vast array of time-lapsed photo clips of various ladders, providing his insight into things. I found it useful at these points to attempt my own assessment of the pictures I was seeing by applying the theory taught, before scrolling to see Tim’s “verdict”. A key concept of this is that they are not cherry-picked examples (at least not from the angle of trying to make the analysis simple for the sake of the book), providing a good variety of scenarios, and some more complicated ones. Of course, this is by no means exhaustive, but then again, how could it be, with an almost infinite combination of situations that could present themselves in the pre-race markets?
Book limitations and psychology discussions
The last point in the previous paragraph leads me on nicely to this point. This book is very clear in admitting its limitations. It is not a trading ‘system’ and therefore much of the stuff involved is not black and white decision making. What this book does an amazing job of is teaching you how to think and apply the theory given to each scenario that the market will throw at you so that you may fish for yourself. When you are at school, you learn how to read so that you can successfully tackle ANY type of book on your own, at any time, written in any style. Once you learn how to read, it is a skill you will have for life, but you won’t become proficient at reading books if you just learn phonics without actually picking up a book and trying to read it (can you tell I have kids?!). The Pre-Race Trader’s Bible teaches you EVERYTHING you need to be able to read the pre-market successfully, but you will only become proficient once you begin to practice reading the markets; it is VERY clear about this, and one shouldn’t expect otherwise. I was very impressed with the level of detail and importance given regarding the psychology of trading. Other pre-race material does talk about it too, but it is nearly always a section at the start that is dealt with and then forgotten about. Tim is very purposeful in intertwining the concepts of trading psychology into the content of the entire book, continually reminding people how important it is. He draws on his own battles with trading psychology in order to advise and attempt to steer readers away from the psychological pitfalls that he experienced. It is great to have this so deeply engrained into the book, and also great to have an author who understands this so well from first-hand experience. However, we must realise that WE are the only ones in control of our psychology, and if we don’t take control of that, no pre-race material, not even this amazing offering, will be able to help in the long run.
I am not an experienced trader, but I am an experienced novice (if that makes sense?!). I have tried to absorb as much content relating to the Betfair markets as I possibly can over the last couple of years, and this has involved, as I have mentioned, purchasing various educational/course material that I have often felt was a waste of time. So, I feel like I can offer a valuable opinion based on how I felt about pre-race trading BEFORE reading Tim’s book versus how I feel after having read it. All I can say is that I feel like many things have already clicked into place, and I haven’t even revisited the ladders yet (I left them when I realised that, even after going through other pre-race material, I still had no real idea what I was doing!). It has instilled confidence within me that mastery in these markets is indeed possible. Personally, I absolutely love everything about this book. I’m sure most others will too, however I am under no illusion that there will be some that don’t like aspects of it. They may not like the writing style. They may find the slow build up hard to sift through. They may find the overall trading style a little different to how other pre-race traders present. They may not like the (much needed) continual pressing about psychological issues. They may not like the (fantastic) advice about not over-trading. There may be other reasons; I can’t really say as we are all different (like when you watch a film that has a 5-star rating and then realise that you will never get that wasted 90 minutes of your life back!). However, regardless of this, there is NO debating that, if you have yet to crack the pre-race markets (and if you are reading this then that is most likely the case), the content contained within the Pre-Race Trader’s Bible is the ABSOLUTE BEST you will find, and I believe that, so long as you adhere to everything within it, your quest for success will end (positively) here! I look forward to reporting back on my successes over the next few months!”
Darren M. – 21st January 2019
If you are genuinely interested in taking up a career in pre-race trading, if you’re ready to put in a significant amount of time and effort (reading this ebook alone will be no small task), and if you’re prepared for probably the most challenging but rewarding journey you have ever undertaken, then this ebook is for you.
More importantly, if that sounds like you then you’re exactly the (rare) type of person I went to extreme lengths to produce it for in the first place. I am in no doubt whatsoever that if you scoured the internet for a whole month, you wouldn’t find anything remotely comparable to this in terms of quality and quantity of useful and carefully explained trading information, stuff you can take straight to the markets and begin applying to make safe but regular profits with (although I strongly advise practicing on very small stakes to begin with, for obvious reasons).
On the other hand, if you’re someone who ‘dreams’ of becoming a trader, but lack the commitment or time to really give it your all, please do not buy this product. It will require weeks of just reading and studying the material, then weeks or more likely months of careful, disciplined practice. You will almost certainly not be in any position to call yourself a ‘trader’ for around 6-12 months, no matter how much of a fast-learner you might be. This is not a ‘system’, this is not a money-making ‘scheme’, this is not a ‘business opportunity’.
Becoming a full time trader is a whole new way of life, it requires not only a large amount of technical learning but also a huge amount of personal development and psychological ‘adjustment’ for most people.
Having said all that, most of my regular readers know these things already and know that success doesn’t come easily in any type of trading, and the Betfair markets certainly aren’t the ‘easiest’ markets to attempt to master. For those people, the ones who don’t expect overnight success and those who are serious, ready and willing to put in some hard graft towards a pretty awesome goal, I sincerely believe that this ebook will be the most important step in taking you from ‘surviving’ in the markets to completely mastering them, enabling you to profit from them day in day out, year in year out.
If I can help even just a few people accomplish that, I will be extremely pleased that I took the time to produce this.
Here’s to you and your success in the pre-race markets!