Betfair scalping for beginners

[Dallas]

Hi, Im using the free trial at the moment and trying to create my own scalping bot.

I couldn’t see a way to place my back bet to match whatever was the lowest atl at that time.

Is this possible?

Thanks

Phil

Not sure what you mean by 'match lowest atl at the time'?
Can you give some further details of what you want to do?

There might even be a ready-made rules file you can download from the shared files section that does or is very close to what you want

[Alboumphoto]

Say the best available to lay price was 1.6. I would like to place my back bet to match that 1.6 and then scalp once that has been matched.

[Dallas]

Say the best available to lay price was 1.6. I would like to place my back bet to match that 1.6 and then scalp once that has been matched.

If you place your lay bet anywhere below the current price Betfair will always match you at the best available price,
If you enable global settings can then be used to place an offset bet (with or without greening)
https://www.betangel.com/user-guide/bet ... tings.html

If you want to use automation you can configure the lay bet to be placed at 'best market price'
there are also several ready-made scalping files in the pre-off racing area for a variety of situations which you could download and use as a starting point
viewforum.php?f=53

[adryan87]

Hi. What do you think is better? To aim a X number of ticks or X %?

[mcgillsbets]

Hey new this and im currently trying to scalp on the tennis and 2.5 markets. I basically want to get in and out with 1 tick with a huge stake of about £1000 to lock in a profit. is there any other markets you would recommend that would be good for this?

[ShaunWhite]

Hey new this and im currently trying to scalp on the tennis and 2.5 markets. I basically want to get in and out with 1 tick with a huge stake of about £1000 to lock in a profit. is there any other markets you would recommend that would be good for this?

Cricket? btw £1000 isn't "huge".

But if you're new and having to ask a basic question like that I'd question whether you ought to be on £1k stakes.

[mcgillsbets]

for starting out for me its huge, risking putting £1000 on each time is scary lol. I come from never gambling to doing some match betting and now trying the trading. I was very confident until the other night when Chelsea scored in a game in the first 2 minutes before the market let me out and i lost £400. But i like the idea of just getting in and out as quick as possible.

But im open to any advice that people have, including a good way to minimise that kind of risk?

[ShaunWhite]

for starting out for me its huge, risking putting £1000 on each time is scary lol. I come from never gambling to doing some match betting and now trying the trading. I was very confident until the other night when Chelsea scored in a game in the first 2 minutes before the market let me out and i lost £400. But i like the idea of just getting in and out as quick as possible.

But im open to any advice that people have, including a good way to minimise that kind of risk?

Trading is nothing like MB. You WILL lose as often as 50% of the time, unlike MB where you have no risk and can lump on. And it's going to take you at least 6months or a year to find any sort of consistency so ffs stop using stupidly big stakes and see if you can turn £5 into £10 first or you won't last long enough to learn.

[mcgillsbets]

I didn't say it was like matched betting, I just meant I've progressed from wanting to do the match betting to wanting to try trading. But from the vibes I get on here its maybe not worth doing. My overall hope was to try and make £50 a day is that a realistic target for someone starting out?

[Kai]

My overall hope was to try and make £50 a day is that a realistic target for someone starting out?

Not really, losing £50 a day would be a more realistic target for someone starting out. No point setting any targets since you can't force opportunities. But very basic scalping is a good intro into trading, many of us started like this.

[ShaunWhite]

I didn't say it was like matched betting.

My overall hope was to try and make £50 a day is that a realistic target for someone starting out?

I know that you didn't say it was like matched betting, i was just saying that matched betting experience isn't relevant so you should start on £2 not £1000

As Kai said the initial aim is to just not lose money, but once people reach a tipping point then 5, 6 or even 7 figures is possible. But trading isn't just a job you can make money on from day 1 like flipping burgers, it's a fiercely competitive area, with small markets, and many people who've been doing it as a career for over a decade. If you want to take money from people you need to be better than they are.... And FYI, only approx 5% of people who try actually get to break even.

[iambic_pentameter]

Hey new this and im currently trying to scalp on the tennis and 2.5 markets. I basically want to get in and out with 1 tick with a huge stake of about £1000 to lock in a profit. is there any other markets you would recommend that would be good for this?

A good plan of action would be:

1) Forget trying to scalp ANY market for 1 tick. It's financial suicide. You are up against people with more knowledge, faster pics, better models etc than you.
2) Focus on a sport where you have some knowledge or interest; it will make it more bearable. And stick to one sport to start with.
3) Keep results, record your trading screen, gather data. Treat this like a business.
4) Some good advice I was given, was to ask myself what I was trying to achieve. And following on from that, observe the markets so you know what happens when key events happen and how those events affect the price in the market.
5) Focus on your processes before you start thinking about profit; this will make more sense to you after you've lost some money in the market.
6) On the subject of losses, the best advice is to learn to accept to lose. Because you will. This is really hard.
7) Take a long term view; you cannot be successful overnight. You need to go through multiple market cycles. Be prepared to be humbled by the markets.

Best of luck

Iambic

[oliver.williams]

This is actually really good information. I thought it would be same ol' same ol. Thanks!

[ANGELS15]

I didn't say it was like matched betting, I just meant I've progressed from wanting to do the match betting to wanting to try trading. But from the vibes I get on here its maybe not worth doing. My overall hope was to try and make £50 a day is that a realistic target for someone starting out?

You've been given some execellent advice, one thing you may want to do is read up about the impending 'gambling review' with the threat of having to provide proof of income to bet/trade and even the possibility of stakes or losses being drastically reduced (rumours in some quarters at limiting losses to £100 a month).

Hopefully it won't come to this, however something will happen which will affect us all to greater or lesser degreee. Potentially it could make all this redundant.

[Vaz0202]

So after taking a good year out and never cracking scalping before I’ve returned in good spirits and I think I may have finally cracked it.

My biggest issue I had previously was going inplay. The chimp just couldn’t handle a loss. He is caged up now.

7 days in
61 markets
6 losing trades (avg loss £1.09)
54 winning trades (avg win £0.67)

It’s so odd that when I gave up I was literally a million miles away.