1. Make up your mind on how much you are going to put on the horses on the day. Think of this as investment capital. Be prudent, and don't go over board. Make sure that you are comfortable with the money you are going to bet.

2. Determine how much of the money you are willing to invest on any particular race. Two percent is reasonable amount.

3. Try to limit yourself to three-to-five races if you are concentrating on one track. Of course, based on the opportunities available you can raise or lower the limit.

4. Establish the order of preference for your contenders. Make a "value" line to help in your track decision.

5. Visualize how a race will be run and don't be afraid to go against the flow. If you can't get a clear picture of what's going to happen beforehand, you probably don't have a good idea on which horses to bet on.

6. Eliminate the unplayable races and jot down the potential win bets, singles, exotic wagers, etc. Never try to take a decision on the spot. Always plan your day.

7. Never allow your decision to be swayed by rumours. It's your money, and you should make it or lose it on the basis of your own opinions.

8. Don't press when you lose or increase your bet when you win. Protect your investment and don't be aggressive. Next day and the days after would bring many opportunities. Winning or losing on one individual day really doesn't mean a thing. As with the stock market, only the long term matters.

9. If evidence warrants be flexible enough to change your way of thinking. Maybe your top selection is an overbet. Be prepared to move on to your second or third choices if that's where the 'value' happens to be.

10. Don't lose your composure or your sense of humour. Both are weapons to help you overcome adversity.

Source: Times of India