£25 a day - A beginner's journey
..thread continued here in the horse racing section..
viewtopic.php?f=5&t=6938
viewtopic.php?f=5&t=6938
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Here's my experience on trying to make regular money from Betfair. The word is discipline.
Firstly , no way can you make money long term by laying long shots, one will eventually win and take a large chunk of your bank. I and lots of others have done it. So forget it! Laying favourites is more worhtwhile but you have to put the reaserch in and get to know the horses so you can make an informed decision. You cant do it based on stats.
Secondly backing horse for profit can be done but you need to do the research, have great money management, not chases losses, look for value bets and have patience.
Thirdly, pre race trading. It has taken me 3 years to get to the stage where I can more or less see how the markets are likely to move and have a basic understanding. Also I have gone through several trading banks which I have put down to the price of learning. After all if you go to University it will cost you a lot more. So as many others have said on this formum there is now easy way, it takes time and patience and education.
I am going on Peter Webb's masterclass next month so I can't see why people complain that there is no info for newbies as there clearly is. It just costs money as does anything worthwhile.
Firstly , no way can you make money long term by laying long shots, one will eventually win and take a large chunk of your bank. I and lots of others have done it. So forget it! Laying favourites is more worhtwhile but you have to put the reaserch in and get to know the horses so you can make an informed decision. You cant do it based on stats.
Secondly backing horse for profit can be done but you need to do the research, have great money management, not chases losses, look for value bets and have patience.
Thirdly, pre race trading. It has taken me 3 years to get to the stage where I can more or less see how the markets are likely to move and have a basic understanding. Also I have gone through several trading banks which I have put down to the price of learning. After all if you go to University it will cost you a lot more. So as many others have said on this formum there is now easy way, it takes time and patience and education.
I am going on Peter Webb's masterclass next month so I can't see why people complain that there is no info for newbies as there clearly is. It just costs money as does anything worthwhile.
How much is the course with PW?freddy wrote: ↑Sat Oct 27, 2012 11:29 pmOk Maybe i should have said hired some tools from a tool hire center then , there are plenty of youtube videos on how to do D.I.Y too, but it takes a long time to be a expert that's the point.
the trouble is allot of newcomers seem to want a click and win strategy (not saying you do).
But Trading does not work like that, it's hard work.
i make a living mainly from
scalping / swing trading on the horse racing market pre race. althoe i do take a more long term view of the market these days than what i used to.
Most people that know this think i have some sort of secret im not telling them, but i do not, it's all in the videos you've already watched.
The only thing that's missing is experience, which you don't get from books or videos.
I started off 6-7 years ago from where you are now and i learn't the hard way myself, just make sure the lessons arn't to expensive.
If you would have posted on here you were laying outsiders / favorite blindly,
i would have advised you not to do it,
if you don't have not edge you will lose.
alot of the things you have written off in you earlier post however do work in certain circumstances with the right filters, you carn't expect to win every time winning more than you lose is all that important.
The reality is this software looks attractive and believe you me it does what it says on the tin, but you have to do and put the work in for it to reward you back, for me 7 years to be profitable and confident with a edge i had to create for myself grafting and taking knowledge from the very helpful indeed videos from Peter and the 100% professional members on here one being Dallas (a very knowledgeable guy indeed and helpful). Dont look to take others methods or it directly to be handed to you, it doesnt work like that. The reason you didnt get many replies is like your saying hello guys give me the holly Grail. No such thing. Even saying i want to make £25 a day no you should be saying from point A to Point B i want to be a profitable Trader by reading the market infront of me with the tools i have (Charts) opening a trade closing out in a Net position and Hedge (Green up) do that 20 times a day you will be suprised what you gain at the end of say 30 days007 wrote: ↑Sat Oct 27, 2012 1:56 pmFirst ever post grow arms and legs and got locked, haha.. hahaha..
POST2:
Only 3 or 4 answered my first and only post; is making £25 a day a lot to ask for a new guy?
On a scale of 1-10 (1 easiest/10 hardest), with 3 hours a day for a newcomer using the BA software, how easy/hard is it? The noo I'm laying the gee geez trying to build a wee bank. Looking to up the stakes in the future (buying BA's full version, gaining knowledge and branching out from just laying) but have no clue if I'm gonna lose my wee bank before I get going.
Cheers to jonnynoname and others who took the time to try and give an answer re my first post
Good luck on your Journey
Perfectly good thread though, and the continuation of it, despite people losing bank chunks because of it : viewtopic.php?f=5&t=6938
Some good posts and sensible (if not timeless) advice too, a few greens and some reds, a couple of memes thrown into the mix, what more could one possibly want from posters
But can definitely sense the anti gambling/betting bias back then
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We all done the Journey The profitable have spent not 30 days but years and its not gonna just be handed to newbie. You get great advice and assistance in the forums. If one watches Peters videos and really take them in one will learn, i dont belive in laying Backing Dobbing etc etc, i Trade, and not for targets, its about how many times you can read a market (Order Flow) open the TRADE and CLOSE the Trade and Hedge £2 greened up 20 times a day do the maths just sayingFrogmella wrote: ↑Sat Oct 27, 2012 10:10 pmNot a great analogy because the DIY store would only want a one off payment for the tools and they wouldn't put 135 videos on YouTube showing how my shovel could build a skyscraper all on its own if I just hold it by the handle.freddy wrote:Frogmella Betangel is a tool that is all,
you wouldn't gos to a DIY store and buy a few tools and then expect to build a house the next day would you ???
six weeks is nothing it takes alot of hard work to make this game pay.
i could have told you most of the above was a waste of time, but most people ignore advice and find out for themselves, but thats how you learn trial and error.
I'm a grown up about it. I'm am not blaming anybody, least of all the software, I think the software is very good indeed. I understand why people don't want to give away their hard earned strategies, I wouldn't either.
But that is a world away from helping newbies avoid wasting time and money chasing dead-ends.
I think its stupid that all newbies are expected to waste weeks of time and money repeating the same mistakes that have already been made over and over. How would civilisation have progressed with that attitude. "Yeah, I've got this stuff called penicillin its great for clearing up infections. Shame you wounded soldiers don't know how to make it but here's an old loaf of bread, have a look at it for a while and see if you can come up with anything."
I suppose the best idea is to buy the full course from Peter, which I may well do.
I'm still here, 12 years later (not continuously) still trying to reinvent the wheel.Alpha322 wrote: ↑Mon Oct 14, 2024 11:28 pmWe all done the Journey The profitable have spent not 30 days but years and its not gonna just be handed to newbie. You get great advice and assistance in the forums. If one watches Peters videos and really take them in one will learn, i dont belive in laying Backing Dobbing etc etc, i Trade, and not for targets, its about how many times you can read a market (Order Flow) open the TRADE and CLOSE the Trade and Hedge £2 greened up 20 times a day do the maths just sayingFrogmella wrote: ↑Sat Oct 27, 2012 10:10 pmNot a great analogy because the DIY store would only want a one off payment for the tools and they wouldn't put 135 videos on YouTube showing how my shovel could build a skyscraper all on its own if I just hold it by the handle.freddy wrote:Frogmella Betangel is a tool that is all,
you wouldn't gos to a DIY store and buy a few tools and then expect to build a house the next day would you ???
six weeks is nothing it takes alot of hard work to make this game pay.
i could have told you most of the above was a waste of time, but most people ignore advice and find out for themselves, but thats how you learn trial and error.
I'm a grown up about it. I'm am not blaming anybody, least of all the software, I think the software is very good indeed. I understand why people don't want to give away their hard earned strategies, I wouldn't either.
But that is a world away from helping newbies avoid wasting time and money chasing dead-ends.
I think its stupid that all newbies are expected to waste weeks of time and money repeating the same mistakes that have already been made over and over. How would civilisation have progressed with that attitude. "Yeah, I've got this stuff called penicillin its great for clearing up infections. Shame you wounded soldiers don't know how to make it but here's an old loaf of bread, have a look at it for a while and see if you can come up with anything."
I suppose the best idea is to buy the full course from Peter, which I may well do.
Did you become profitable?Frogmella wrote: ↑Wed Oct 16, 2024 5:02 pmI'm still here, 12 years later (not continuously) still trying to reinvent the wheel.Alpha322 wrote: ↑Mon Oct 14, 2024 11:28 pmWe all done the Journey The profitable have spent not 30 days but years and its not gonna just be handed to newbie. You get great advice and assistance in the forums. If one watches Peters videos and really take them in one will learn, i dont belive in laying Backing Dobbing etc etc, i Trade, and not for targets, its about how many times you can read a market (Order Flow) open the TRADE and CLOSE the Trade and Hedge £2 greened up 20 times a day do the maths just sayingFrogmella wrote: ↑Sat Oct 27, 2012 10:10 pm
Not a great analogy because the DIY store would only want a one off payment for the tools and they wouldn't put 135 videos on YouTube showing how my shovel could build a skyscraper all on its own if I just hold it by the handle.
I'm a grown up about it. I'm am not blaming anybody, least of all the software, I think the software is very good indeed. I understand why people don't want to give away their hard earned strategies, I wouldn't either.
But that is a world away from helping newbies avoid wasting time and money chasing dead-ends.
I think its stupid that all newbies are expected to waste weeks of time and money repeating the same mistakes that have already been made over and over. How would civilisation have progressed with that attitude. "Yeah, I've got this stuff called penicillin its great for clearing up infections. Shame you wounded soldiers don't know how to make it but here's an old loaf of bread, have a look at it for a while and see if you can come up with anything."
I suppose the best idea is to buy the full course from Peter, which I may well do.