Winning and Positive Mentality

[oliver123]

I read Pete's blog the other day about 'manic Monday' where he made over £2,000. Now I would imagine Pete's betting bank is well into 5 figures. Today, I started with a bank of £1,060 and continued with my lay the field - snipe insurance strategy. As you can see from the screenshot I ended with a £322 profit. This isn't a boast but rather a pointer to how we can make money on Betfair but you have to go into the trades with a winning philosophy! Never think losing - only ever think winning!! And you will win!! Seems the easiest thing to say but believe me it is a must as part of your Betfair armoury!!

[spreadbetting]

I think Id rather have a winning strategy than winning philosophy. Sometimes everything just falls into place and you can do no wrong, it's the times when it doesn't that your positive mentality comes into it's own.

Well done on the profit.

[biniaz35]

So Laying the Field you have done what exactly? Did you use a BOT to do this? Did you back the favourite?

[jimibt]

Today, I started with a bank of £1,060 and continued with my lay the field - snipe insurance strategy.

well done on the gains, it's a great %age ROI. as an aside, a while back we spoke about sniping on the 1.1's and I made a suggestion re dutching the two sub twos instead in this scenario. is this the outcome of this discussion?? just interested as i have a similar automated strategy but is potentially a little more conservative in its approach (based on your numbers)

[oliver123]

Well, I think it is generally known that there are traders out there who are laying the field at 1.1 to 1.25 for instance. Now yesterday I was laying the field, depending on the length of race - nearly always over one mile - at between 2.0 to 2.6. And as the races were ending with, say, half a furlong, I would either have greened up on the LTF or, if the trade was going against me, sniped the winner at around 1.1. But this strategy requires nerve and as I call it, a winning mentality - YOU WILL win the money.
I was, for your information, sniping (backing) with between £500 to £600 on the winner.

[spreadbetting]

The proof of the pudding will be how well you maintain this "winning mentality" over the coming days. I'll look forward to seeing today's results.

[oliver123]

Yup the proof of the pudding . . . .

[jimibt]

nice one oliver, tho looks like 5 furlong races definitely don't suit this approach -ouch!!

[enginsbali]

If trading horse racing was that easy, it would not be considered as the toughest market ever. There can be only one exception to this in my opinion; you can consistently profit like this if you have a faster broadcast than everyone else.

I hope you will succeed but your strategy is too risky I think

[oliver123]

I learnt a long time ago that trading on Betfair is not easy! No horse race is like any other horse race. Some people think I am a bit crazy NOT to trade before the off but unless you are waging £000s on each side of the market you will not make consistent money. I keep my betting bank to around £1,000 and trade in running. Yes, it is risky, but then everything in life is a risk. Again I keep coming back to a winning mentality - I WILL WIN!! Hope my screenshots will provide inspiration to all forum members.

[spreadbetting]

If you're making £300 a day consistently from £1000 I'd certainly be looking to up your stake to the max the market can take. The old adage of "make hay whilst the suns shines" is very relevant on Betfair from my experience.