Today we have a new article from Malcolm Pett the creator of the Grey Horse Bot.
To find out more about the GreyHorse Bot visit Malcolm website here http://greyhorsebot.com
Knowing when to say enough is enough…
One of the reasons I originally created the Grey Horse Bot is that it allowed me to automatically stop betting.
And it also stopped me chasing loses.
I started in the early days with greyhound racing (that’s where the “Grey” comes from) and I followed a “Stop at a winner” system.
The problem I had was that even after that first win I couldn’t help myself starting again.
There were so many Greyhound races everyday that if I won early, it was just too tempting not to try again.
Of course you know what happened next…
…I couldn’t get a winner.
This led to the second problem of not knowing when to cut my losses.
Creating the Grey Horse Bot allowed me to “set and forget” knowing full well the bot would either stop as soon as it got a winner or if I hit my stop loss.
The other problem with Greyhound racing is that Bags races happen every 10 minutes and it is so easy to miss a race when the phone rang or you start chatting to someone.
Even reading an email can be enough to take your attention away from the racing just long enough to miss a race.
Having the Grey Horse Bot do everything for me just made life a lot easier.
The next step was to run the bot on a VPS or server that was permanently attached to the internet at all times.
This meant I didn’t even have to think about the bot, day to day.
Our longest running test was over 6 month’s non-stop. It would have been longer except the server had to be reset for an important update.
Testing is a very important part of my day to day betting activity and although I am a great believer in “paper” testing and would suggest you always do this… (The Grey Horse Bot does paper test as well.)
…It’s not until you actually bet live when you find out if the selections your following are going to produce a profit.
I think this is where automated betting comes into its own.
Having the ability to set aside part of your bank just for these selections and set a stake that is smaller than you would normally have to use, all helps in the testing process.
Here is an example.
In last week’s article I introduced a new test for a simple system I came up with using 2nd ranked runners based on the BSP early morning prices.
Here is the article. http://dailypunt.com/one-winner-per-day/
So I set up a Grey Horse Bot on one of our servers and set aside a £10 bank for the test.
I like to use a % of bank as my start test stake.
This may not work well with all systems but I find it a good place to start.
And if the test goes well then your stake should naturally increases but if not, your stake drops.
If I know the strike rate of my system I normally work out the Longest Losing Run expected statistically, add a little and use the figure as my stop loss.
If not…I normally set it at an equivalent of around 20 to 30 points.
Your have to decide what’s best for you.
Once that’s done then all I have to is click “start” and let the bot do the rest.
The Grey Horse Bot can automatically download selections based on your own criteria or using the special links that are often given to our members when we start a new test.
The link contains a live feed that the bot checks every so often and if it finds new selections it automatically adds them ready to monitor.
There is a link in the member’s area for the test from last week’s article.
I love automation and it doesn’t get any better than this.
But best of all I no longer have to worry about missing races or stopping when I should, it is all done automatically.
Thank you as always for reading I really do appreciate it.
The Grey Horse Bot
3:00 Bangor Clondaw Kaempfer – eachway bet 15/2 Bet Victor