Starting capital
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powermetal
- Posts: 2
- Joined: Wed Nov 03, 2010 5:22 pm
I'm considering having a go at trading. If I started out with say, £100, would it be worthwhile or do you need more to make any real money or even cover the Bet Angel subscription fee? Thanks in advance.
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aligammack
- Posts: 104
- Joined: Wed Apr 15, 2009 2:49 pm
Hi,
I would suggest that you first use minimum stakes. In this case a bank of 100 is sufficient.
To begin with don't focus on making substantial profits or making enough to pay for the subscription.
Begin by trying to make profits. No matter how small.
Once you start to make profits and you understand more about the markets you will be in a better position to answer your own question.
Trading can be very difficult especially when you are new so take your time and don't expect too much too soon.
Good luck
I would suggest that you first use minimum stakes. In this case a bank of 100 is sufficient.
To begin with don't focus on making substantial profits or making enough to pay for the subscription.
Begin by trying to make profits. No matter how small.
Once you start to make profits and you understand more about the markets you will be in a better position to answer your own question.
Trading can be very difficult especially when you are new so take your time and don't expect too much too soon.
Good luck
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powermetal
- Posts: 2
- Joined: Wed Nov 03, 2010 5:22 pm
Thanks for the reply, you're right, if I can break even or make a slight profit in the first few months I should be pleased. I'll do some more research tonight and then decide how to procede.
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lilgreenback
- Posts: 211
- Joined: Thu Apr 16, 2009 11:28 am
Hi,
Good luck with your journey I would echo what has already been said by "aligammack" start with minimum stakes and try to preserve your capital. You are bound to make mistakes and this will always cost you although at times the mistakes can go in your favour.
Leaf through the many good replies to the newbie questions (as well as "sports" & "horses") as a lot of info is there which will help. Try not to pressure yourself with a time limit and an amount of money to try and make within it. As different people will learn at different rates.
Ask yourself what it is that you want to trade horses pre off? sports?, again there is a choice there and try out the various methods suggested (or your own) some might suit some might not.
As has been said keep your expectations low trading is hard work with a different mindset from other forms of gambling and as can be seen from some of the threads evem the "pros" can find it challenging and frustrating at times as well as profitable but for now that is not your aim.
Find your feet slowly and try to get to grips with the features that BA has always checking that you understand what it is that you are tryng to achieve. Rather than what happens if I do this? "click" OH NO!!! I think a few of us have done that.
Try to enjoy it anyway as it is certainly interesting and I would not look at gambling in the same old way again.
Regards
LilGB
Good luck with your journey I would echo what has already been said by "aligammack" start with minimum stakes and try to preserve your capital. You are bound to make mistakes and this will always cost you although at times the mistakes can go in your favour.
Leaf through the many good replies to the newbie questions (as well as "sports" & "horses") as a lot of info is there which will help. Try not to pressure yourself with a time limit and an amount of money to try and make within it. As different people will learn at different rates.
Ask yourself what it is that you want to trade horses pre off? sports?, again there is a choice there and try out the various methods suggested (or your own) some might suit some might not.
As has been said keep your expectations low trading is hard work with a different mindset from other forms of gambling and as can be seen from some of the threads evem the "pros" can find it challenging and frustrating at times as well as profitable but for now that is not your aim.
Find your feet slowly and try to get to grips with the features that BA has always checking that you understand what it is that you are tryng to achieve. Rather than what happens if I do this? "click" OH NO!!! I think a few of us have done that.
Try to enjoy it anyway as it is certainly interesting and I would not look at gambling in the same old way again.
Regards
LilGB
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mister man
- Posts: 363
- Joined: Tue Jul 27, 2010 2:10 pm
in answer to your question on capital (bank)
whilst the other posters are being optimistic,i would honestly say that with £100 you will struggle to trade very well imho. i my experience you would need at least double that to be at all effective.
of course it depends on the markets and strategies you persue. some need more money than others to do a good job on.
lose £50 of a 100 bank it looks grim, lose 50 on a 300 bank it just doesnt feel as bad. the swings plus and minus will be very real on that cash level...
good luck and go steady whatever you do.
whilst the other posters are being optimistic,i would honestly say that with £100 you will struggle to trade very well imho. i my experience you would need at least double that to be at all effective.
of course it depends on the markets and strategies you persue. some need more money than others to do a good job on.
lose £50 of a 100 bank it looks grim, lose 50 on a 300 bank it just doesnt feel as bad. the swings plus and minus will be very real on that cash level...
good luck and go steady whatever you do.
I would contest that £100 is plenty if you intend to do minimum stakes trading to begin with.
Its almost inconceivable that you would lose £50 in any one race from a £2 stake unless you made a high odds lay and let it go in play.
For an example, lets do the numbers for a trade that goes wrong. You make a £2 back at 4.0 and price goes against you to 4.8 at which point you cut your loss for a £2.00 lay at 4.8
Back worth: 3.0*£2.00= £6.00
Lay Liability: 3.8*£2.00 = £7.60
Loss on runner = £1.60
Of course you can make more trades and increase or decrease this value depending on your success. Not forgetting that towards the off time it would be prudent to 'red up' (split across all runners) that loss.
A bit of late night division leads me to think you would escape with a 33p loss which ever runner wins (if my maths is wrong please correct someone
) Rest assured that BA does the maths for you and its very easy to red or green out.
Hopefully you can see that in order to lose £50 from minimum stakes trading would take some doing assuming you don't do anything wild like letting large price lays go in play which tbh isn't what i would consider trading.
Tash
Its almost inconceivable that you would lose £50 in any one race from a £2 stake unless you made a high odds lay and let it go in play.
For an example, lets do the numbers for a trade that goes wrong. You make a £2 back at 4.0 and price goes against you to 4.8 at which point you cut your loss for a £2.00 lay at 4.8
Back worth: 3.0*£2.00= £6.00
Lay Liability: 3.8*£2.00 = £7.60
Loss on runner = £1.60
Of course you can make more trades and increase or decrease this value depending on your success. Not forgetting that towards the off time it would be prudent to 'red up' (split across all runners) that loss.
A bit of late night division leads me to think you would escape with a 33p loss which ever runner wins (if my maths is wrong please correct someone
) Rest assured that BA does the maths for you and its very easy to red or green out.Hopefully you can see that in order to lose £50 from minimum stakes trading would take some doing assuming you don't do anything wild like letting large price lays go in play which tbh isn't what i would consider trading.
Tash