Scalping or Momentum trading: Multiple trades of small profit
After spending some time at the beach last week, I returned and took a shot at trading the horse racing markets at Betfair before the start of the races. I did not use technical analysis that much but rather watched the momentum developing and scalped the betting odds. The result was to make multiple trades of small profit and in the end after one hour of trading the result was a 4% increase in my Betfair bankroll. I was used at this kind of trading back in the good old days and I decided to resume my trading activities at Betfair after a long time.
The trading video may not have commentary but I expect you will find it interesting, as I’m drawing trend lines and support and resistance lines while I’m trading, pretty much like my last trading video when I drew technical indicators and commented at the same time. In today’s video, I also draw a couple of other pattern formations such as a triangle.
Here is my yesterday’s trading performance using a 500€ trading bankroll: