Short handicapping lesson...no.2

[fjh513]

Another question from a beginner.
I hope I can continue to do this from time to time as "Lesson 1" helped a lot.

This one involves watching a race or a replay.
What should I be looking for ? How the hell can you tell if a horse is going all out to win or is there for exercise?
What constitutes a bad trip and how do I spot it ?
What do you guys / girls expect to come away with when you watch a race or replay...what do you put in the back of your mind for future reference ?

Thanks again for your input.I know these questions are very basic to most of you.