Rusty A300 - RTFQ. A racetrack approach is different from a hold. According to PANS-OPS (what! You haven't read it recently?) you must be established on the inbound course before commencing a racetrack approach procedure. There's nothing to stop you flying a parallel entry but, unlike the hold entry where you just fly back to the beacon on whatever course you find yourself on, you must regain the inbound track before beacon passage.