Milestone

[goat68]

Been going through some stats today and OMG!!!!!
Just hit a milestone of Career Commission Paid.
Over £300,000.
I had no idea i had paid that much. Seriously Scary



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So assuming 20% PC, you've made £1,500,000 in 8 years, nearly 200k per year, seriously impressive stuff

? Dont see how you calculate this? Think you're getting mixed up between PC and Commission. If he said he's paid PC of £300K then that's different...Its fairly easy to generate commission on churn. Its the net profit figure that's important

So assuming he's paying PC, then he's profitable and his commission to long term profit must be less than 20% ? So above 300k < 20% long term profit.
Maybe he "bets" and doesn't pay PC...

[rik]

Been going through some stats today and OMG!!!!!
Just hit a milestone of Career Commission Paid.
Over £300,000.
I had no idea i had paid that much. Seriously Scary



Capture.JPG

Whopping 3% difference paid to commission generated? Must have been a shock to the system.
Your volume went down lately what happened?

[Derek27]

If anything makes me give up it's stats like these, what chance do newbies have when you guys are creaming it all.....?

The most successful traders were newbies once. By the way, he's talking about implied commission, not PC, which can vary.

[Derek27]

What timezone is this forum working in? my posts are dated 30mins earlier!

Go to your user control panel > board preferences > edit global settings.

[Euler]

As i've said before, it's interesting how a select few can be taking it all, it's an interesting phenomenon...

Think of the market like a triangle. Those on top of others make money from those underneath them. There are loads of people at the bottom who are too lazy or uninformed to make decent decisions. Your first goal is to elevate yourself above that.

[sniffer66]

As i've said before, it's interesting how a select few can be taking it all, it's an interesting phenomenon...

Think of the market like a triangle. Those on top of others make money from those underneath them. There are loads of people at the bottom who are too lazy or uninformed to make decent decisions. Your first goal is to elevate yourself above that.

Which makes BF sound like a Pyramid selling/Ponzi scheme

( I do know it isn't )

[ShaunWhite]

The pyramid is a statistical inevitablity when peoples' ability varies and as in life the people at the bottom aren't inherently useless they're just not as capable as the rest. The pyramid is relative not absolute.


tbh I find the big numbers an inspiration rather than a deterrent, and besides who'd want to get into an industry where nobody was making money!! It's always a tough day for people though when they realise this is an esablished industry rather than fresh fields full of fools. But if you want easy then don't pick buying and selling, the world's 2nd oldest profession.

[Euler]

The thing that frustrates me with Betfair and commission is that they don't spend enough of it bringing in new business or supporting it's advocates.

It was always positioned with me that my commission would be used to bring in new customers to the ecosystem, that is what I pay so much. But it's obvious that has not happened. But hey, the sportsbook has done well hasn't it?

But also, it's common knowledge that all businesses have soft funding to keep customers happy and cogs well oiled. In the city its common for up to a 1/4 of commission to get returned to the client in some manner. If Betfair were in the same mode, they would owe me a Lambo as least.

Yes I know traders are quite efficient at taking money out of the ecosystem, but they do play a really key role in providing liquidity and some of us perform deeper roles.

This is why we need competition. People who fight for our business.

[Euler]

Which makes BF sound like a Pyramid selling/Ponzi scheme

( I do know it isn't )

The interesting thing about this 'pyramid' is that the bottom is very wide. I've seen the data and it's quite interesting.

[Derek27]

But if you want easy then don't pick buying and selling, the world's 2nd oldest profession.

I'm in the world's 2nd oldest profession because my only alternative would be the world's oldest profession.

[Trader Pat]

But if you want easy then don't pick buying and selling, the world's 2nd oldest profession.

I'm in the world's 2nd oldest profession because my only alternative would be the world's oldest profession.

[andy28]

I still consider myself a relative Newbie, personally I am not bothered about what others P&L is all I focus on is learning and improving my trading 1 step at a time. It's a long road and there are no short cuts and plenty of hurdles on the way. At the end of the day it will be my actions that determine where that road leads me.

[Derek27]

I still consider myself a relative Newbie, personally I am not bothered about what others P&L is all I focus on is learning and improving my trading 1 step at a time. It's a long road and there are no short cuts and plenty of hurdles on the way. At the end of the day it will be my actions that determine where that road leads me.

I think that's a very good attitude. Looking at traders that make ten times as much as you is just a distraction to achieving your best or even getting up to that level.

[lotora]

This is why we need competition. People who fight for our business.

Hopefully BetDEX could become a future competitor...https://www.forbes.com/sites/timcasey/2 ... -exchange/

[ShaunWhite]

I think the 'Milestones' thread has gone a little off piste?

I know I've played a part in that but it seemed like a nice corner for anyone pleased with whatever stat they've racked up.