The Importance of Paper Trading Before Betting On Horse Racing
Paper trading in horse racing is where you record the selections before they race and see how the system progresses. Basically, you're pretending as if you're betting real money before actually getting out your hard earned cash and betting on horse racing. You can do this by simply tracking your bets and any gains or losses in an excel spreadsheet, you can use one of the punting sites like Punters Paradise, or there are a variety of comparative horse racing software that allow you track your bets.\
No matter which way you go about it, it's imperative that you do it. Any legitimate and successful horse racing enthusiast is going to give you the exact same advice!
If you need a reason other than simply testing the system and "making sure" then there are several other reasons that paper trading first is epitome to success in horse racing. It's the same for any sort of investing!
Paper trading enables you to forward test a system which, if you've read this article, you'll understand how much different that is from simply back-testing a seemingly profitable horse racing system.
Paper trading a system might also enable you to determine the difficulty of uncovering the selections. Some systems run really easy, some rules are more tricky to uncover and by testing the system first you'll be able to find out how fast you can come about the horse
Aside from finding weaknesses, sometimes you're also able to find ways to make your system even strong. Maybe you can tweak the race distance to exclude longer races, or maybe you're able to loosen the criteria to allow the system to derive a whole lot more selections.
The easiest and simplest way to ensure success and profitability when it comes to betting on horse racing is to simply run it up the flag pole and see which way it flies. That is – test it, make sure you’re system isn’t back-fitted and simply a statistical anomaly. Also paper trade so you can tweak the system and make it stronger, but remember that if you make changes to the system you need to begin the paper trading process again.