Hi everyone,
Just thought I'd say hi and introduce myself and ask for a few bits of newbie advice. I've just joined the forum today but I've been lurking for a little while, watching Peter's videos (and others) etc.
I've just done my first couple of days trading with Bet Angel, having dabbled in manual football trading a little bit. Before that I spent about 15 months matched betting which has built my initial bankroll for trading, and many years ago I was a semi-pro poker player for a little while. I was made an attractive redundancy offer from my job a little over a year ago so I thought I'd give trading a serious try while I'm in a fairly fortuitous and secure position.
The first couple of days have been okay, nothing fancy and probably some very common noob errors. I've made small profits on most races scalping, but each day I've made a couple of substantial losses:
1. Literally my first click was a misclick that placed a bet, and I didn't know what it had done (I was in tick staking mode rather than fixed stakes and clicked the wrong side of the book to what I had intended - my fault for not being in Practice Mode)
2. One race each day I failed to exit my position quickly enough and took a much larger loss than I think I should
3. Went in play twice - once by accident (I thought I had exited, but apparently not), the other time I got caught by the delay on my feed.
So I've learnt some early lessons, hopefully quite cheaply. My net position is £2 up over about 20 races, using £16 stakes.
My questions at this stage (and apologies if these are stupid / obvious):
1. What factors go into the risk meter in the chart screen? Does anyone really take notice of these? I've noticed it isn't available in play, but it also doesn't seem to be available on some Irish races.
2. Does Bet Angel have any kind of reporting function to look at P&L and analyse specific markets, or do I need to keep these records manually?
3. Not that it matters, but how does Practice Mode work? If it's not really placing any bets then how does it know how the market reacts etc.? Does it basically imagine your fake money is someone else's real money and matches you when that real money gets matched?
4. Would it be advisable to work in tick staking mode rather than fixed stakes?
I'm sure I'll have way more questions once I properly settle into it, but thanks in advance for your help!
Cheers,
JT
New Member - Hi :)
Welcome to the forum.
In regards your points
(1) https://www.betangel.com/user-guide/risk_meter.html
(2) There's extensive logging available and you can create your own KPIs of sorts through using stored values. You can explore the logs that are recorded through Guardian ->
https://www.betangel.com/user-guide/pro ... ports.html
(3) Practice mode is purely pretend money going into the market, the markets don't react to your bets from it. For example I could in theory put in a £1 billion order where there is only £2 available to back and it will interpret it as if the whole £1 billion is matched with zero movement because of it.
My advice and sure the advice of many others is only use practice mode to see if automation files is working properly otherwise use live markets and small stakes as you just don't get a real feel if using practice model.
(4) There was a forum post about this recently where tick mode was suggested for horses if starting out.
In regards your points
(1) https://www.betangel.com/user-guide/risk_meter.html
(2) There's extensive logging available and you can create your own KPIs of sorts through using stored values. You can explore the logs that are recorded through Guardian ->
https://www.betangel.com/user-guide/pro ... ports.html
(3) Practice mode is purely pretend money going into the market, the markets don't react to your bets from it. For example I could in theory put in a £1 billion order where there is only £2 available to back and it will interpret it as if the whole £1 billion is matched with zero movement because of it.
My advice and sure the advice of many others is only use practice mode to see if automation files is working properly otherwise use live markets and small stakes as you just don't get a real feel if using practice model.
(4) There was a forum post about this recently where tick mode was suggested for horses if starting out.
