Newbies Before I Start

[hsodhih]

Hi All,

I have used betfair without any Bots over the last 3 weeks and was making little amount by scalping but then all of sudden my capital got eaten up due to the unknown and unpredictable movement in prices(up or down).

Then I started to look at bots and came across Bet Angel, just wondered how newbies were finding their trade and whether its worth another bank deposit from me. All I'm looking for is profits of about £200 to £300 per month on probably a start bank of about £100.

I guess all I'm asking is whether to be in or out.

[rubysglory]

Hi. Welcome to BA. Unknown and unpredictable movement in prices(up or down) will occur wether you use a bot or not. BA in itself though is strictly not a bot, although it does have Automated functioning and spreadsheet capabilities. As for looking for profits of 200 - 300 pm, IMO you are attacking this venture the wrong way. Profits are generally turnover dependant so to put a figure on it is not a good idea. Aim to break even first, have fun in learning and see how you go from there. Being tunnel visioned on a need for a given profit margin is a sure fire way to failure. Even day is different.

rg

[Mr Green]

200 to 300 per month on a bank of 100?? dream on mate!

Maybe on a bank of 10,000

[Euler]

200 to 300 per month on a bank of 100?? dream on mate!

For newbie most likely but not for a market professional.

[markowensimon]

hi hsodhih. I started out with a bank of £100 2 months ago and on average i make about 10% of my balance each day so it is perfectly possible to make what you are looking for. I practiced for a month with a stake of £2 so it didnt matter if i messed up. You wont make much money each day doing that but it will build your confidence. Good luck

[markowensimon]

hi agaih hsodhih. In relation to my last post it found it is very important that you dont go in running .It can be very tempting but just say NO and over time you shouldnt go far wrong

[Photon]

The biggest problem at the beginning is that you can make small profit frequently but one mistake,indiscipline, unforseen event or just market going temporarily insane can wipe out your days', week's or even month of profit. Add to that the need to explore various unfamiliar markets, strategies, methods and the need to learn various usefulness or otherwise of various BA functionality will mean that you should expect to loose your bank at the beginning. But put in enough efforts, learning from mistake and perserverance will help you get to your goal. The first aim should not be to make certain amount of profit but not loosing enough that you can survive. After that profit will come but don't get too hang up on making x% on your bank. My first year was up and down and did question whether it was worth the effort but once you stop making obvious mistakes or go in when the chance of a favourable outcome is minimal you will start getting a decent return.

[bilko]

Yes you can earn £200 to £300 a month from a stake off £100.
But have a to have a fair bit a of experience behind you.
The guy you said you have to have a £10.000 bank is away with the fairies


Also the markets are a lot harder then when I started.
So I wish you luck but you will loss a fair bit before you start earning.

Try to go to the BA office they did offer someone this before or ask people who have been on Peter's course if they learnt from this or not.

Just remember trading with £2 and £200 is a different ball game.

Good Luck

[JollyGreen]

I agree that it is possible to make your desired amount but you must also heed the advice about it taking time and practice.

[hsodhih]

Thank you all for your replies, will be taking the trial soon.