Hi fellas,
Pretty new to Trading but have a reasonable knowledge of the mechanics of Betfair.
I have viewed most of the training videos on BetangelTV and I am on the waiting list for the course run by Peter.
I have been trading with just £2 stakes to get a feel for market moves and entry/exit points and feel that i am ready to start my trading career.
The question I have got is I will initially begin with a bank of £500, with the auto stakes ticked and a stop loss of 2 ticks, is it recommended to set the tick amount to 1% of the total trading BR i.e £5?
Many thanks
Jon
Starting BR
With £500 bank I would set the tick size to £1 or £2 (if I were using tick size). But I just use fixed stake at the moment.
The auto update stakes can be a pain in the arse as you'll open a trade, then when you close (manually rather than hedging) it puts down 1/2 or twice as much as your opening stake since the odds have changed and the stake has been auto updated, you think you've closed and suddenly you are going red bacause you didn't...
caught me out a few times so now I never use auto update stakes.
fwiw I use £50 stakes at the moment with a ~ £500 bank whatever the odds. this is roughly about £1-£2 a tick I think.
you might make a bit less on short prices but I usually trade 2nd/3rd fav so not really a problem and anyway can always whack in £50 twice if the odds are short...
Stop losses are usually good. I should use them more often... 2 ticks may be a bit tight if looking for swing trades though.
The auto update stakes can be a pain in the arse as you'll open a trade, then when you close (manually rather than hedging) it puts down 1/2 or twice as much as your opening stake since the odds have changed and the stake has been auto updated, you think you've closed and suddenly you are going red bacause you didn't...
caught me out a few times so now I never use auto update stakes.
fwiw I use £50 stakes at the moment with a ~ £500 bank whatever the odds. this is roughly about £1-£2 a tick I think.
you might make a bit less on short prices but I usually trade 2nd/3rd fav so not really a problem and anyway can always whack in £50 twice if the odds are short...
Stop losses are usually good. I should use them more often... 2 ticks may be a bit tight if looking for swing trades though.
You must of pressed the blue bar or red bars to have got this program. You must exit the market by clicking on the value numbers as BA auto calculates the stake to close the trade properly if it has gone over a cross over pointCran wrote:With £500 bank I would set the tick size to £1 or £2 (if I were using tick size). But I just use fixed stake at the moment.
The auto update stakes can be a pain in the arse as you'll open a trade, then when you close (manually rather than hedging) it puts down 1/2 or twice as much as your opening stake since the odds have changed and the stake has been auto updated, you think you've closed and suddenly you are going red bacause you didn't...
caught me out a few times so now I never use auto update stakes.