Friday racing summary

I kept my money safe today as regards backing horses. None of my selections could be backed at value prices, so my money stayed in my pocket. There's an advert on the telly that says "it matters more when there's money on it" and I know horse racing is that much more exciting when you are having a wager, but if you are out to make money it pays to be disciplined. This approach meant I avoided some losing bets today. Making profit is just as much about minimising your losses as maximising your winnings.

Although there was no movement on the back-to-win account, my lay bet today (eventually) returned a loss. Ikemba was running in the 3m 2f handicap hurdle at Hereford. Still a maiden after 9 starts, and also stepping up in class today, I thought he would find at least one of his competitors too good. After the last hurdle he was plodding on at one pace, seemingly resigned to third place, with the leading two horses having a scrap for the lead some 8 to 10 lengths up ahead. I was watching smugly. Everyone watching must have thought the race would go to one of the leading pair, but Ikemba got a second wind, and flew home at 7/2 - that's racing!

Overall a loss of 3.5 points on the day.