Considering Bet Angel

[L33]

Hi all, first day on the forum but not yet subbed to B.A. Was looking for a little advice first before considering B.A. Ive been betting on and off for some time and Im aware that eventually accounts get gubbed. Ive used Betfair over the years, although I dont know the site overly well. Ive recently tried my hand at Scalping and at first it went really well...zero losses. Im only betting small amounts so only winning small amounts. But then the inevitable happened...I pretty much lost all my gains. I knew it would happen and I know it had to happen for me to learn my mistakes, but what happened was (and im sure most have experienced this) I backed and laid as you do, around 5.0 and 5.1. This was 15 to 20 mins before race (horses). I managed to squeeze a few scalps and placed another back/lay. The back took...but then its went to 5.3, 5.4, 5.5 etc. Thinking it would come down again I just started placing a few more back bets...but it ended up going all the way to 8.6 So I decided to place just a single lay bet to recover...but in play, as id ran out of time. And I probably dont need to write any more because we all know what happened next...

My strategy is based on looking at Betfair charts and looking at where the market is...and it has worked until now. But most of the people ive seen doing similar are using B.A. or similar. So im trying to find out if this software would be of any benefit. The problem I can see though is its one thing having software and understanding it, but without a working strategy its useless. I have briefly contacted B.A before and no strategies are given with the software...and the strategy I already have has failed...so am I wasting my time if I bought the software...becasue from what I can gather, its useless without a working strategy.

Any advice appreciated, thanks.

[Kai]

I have briefly contacted B.A before and no strategies are given with the software...and the strategy I already have has failed...so am I wasting my time if I bought the software...becasue from what I can gather, its useless without a working strategy.

Yes, trading software is only a tool, you would need to build your own strategies or draw inspiration from the ones Dallas posted.

I suggest to read the pinned threads on this subforum.

[L33]

I have briefly contacted B.A before and no strategies are given with the software...and the strategy I already have has failed...so am I wasting my time if I bought the software...becasue from what I can gather, its useless without a working strategy.

Yes, trading software is only a tool, you would need to build your own strategies or draw inspiration from the ones Dallas posted.

I suggest to read the pinned threads on this subforum.

Ok thanks I shall have a read...can I ask where do I find the guides Dallas has posted? Thanks.

[Kai]

If you browse around there are many subforums with helpful resources depending on what you're looking for, like this one : viewtopic.php?f=47&t=13769

For both manual and automated trading/betting, but best to keep your stakes small while learning.

[ShaunWhite]

I have briefly contacted B.A before and no strategies are given with the software...and the strategy I already have has failed...so am I wasting my time if I bought the software...because from what I can gather, its useless without a working strategy.

It couldn't be given with a profitable strategy, and why strategies aren't just shared around, is because 1000s of people would all be trying to do the same thing at the same time and the market just isn't big enough for everyone to get the prices they want.

When it comes to making money trading it's possible, but difficult. As I said above markets aren't that big and there's a lot of people who've been doing this as a fulltime job for decades that you're competing against. And everyone who trades builds their own strategies, that's what trading is.

[Derek27]

I remember a teacher asking me what I got for Christmas. When I mentioned a pen he asked, will that help you write better or will it need a new arm with it?

Pens, tennis rackets, golf clubs, etc. don't come with arms; trading software doesn't come with strategies. It's certainly not useless.

[sIGNAL]

Hi all, first day on the forum but not yet subbed to B.A. Was looking for a little advice first before considering B.A. Ive been betting on and off for some time and Im aware that eventually accounts get gubbed. Ive used Betfair over the years, although I dont know the site overly well. Ive recently tried my hand at Scalping and at first it went really well...zero losses. Im only betting small amounts so only winning small amounts. But then the inevitable happened...I pretty much lost all my gains. I knew it would happen and I know it had to happen for me to learn my mistakes, but what happened was (and im sure most have experienced this) I backed and laid as you do, around 5.0 and 5.1. This was 15 to 20 mins before race (horses). I managed to squeeze a few scalps and placed another back/lay. The back took...but then its went to 5.3, 5.4, 5.5 etc. Thinking it would come down again I just started placing a few more back bets...but it ended up going all the way to 8.6 So I decided to place just a single lay bet to recover...but in play, as id ran out of time. And I probably dont need to write any more because we all know what happened next...

My strategy is based on looking at Betfair charts and looking at where the market is...and it has worked until now. But most of the people ive seen doing similar are using B.A. or similar. So im trying to find out if this software would be of any benefit. The problem I can see though is its one thing having software and understanding it, but without a working strategy its useless. I have briefly contacted B.A before and no strategies are given with the software...and the strategy I already have has failed...so am I wasting my time if I bought the software...becasue from what I can gather, its useless without a working strategy.

Any advice appreciated, thanks.

I'm about 4 months into my trading and using BA full time now due to health reasons I had to give up work, and having previously ran my own business and not wanting to sit about all day doing nothing I figured I would give this a proper go. I've played about with the markets on and off for about 5 years but now I treat it as a full time job.

I've tried other various software, Betfair bot manager, other software. other software etc and I came back to BA as its definitely got the upper hand against all of the others. Manual trading and automation are way above the rest, but depends what you want out of it all. I'm mainly focused on automation now after doing a few months of manual trading, due to my health and not being able to focus for longer periods of time I'm finding automation seems to be the way forward for me.

As for strategies, I've dipped my toes into many, but you really need to focus on one sport and one strategy first and get that mastered IMO before doing too much of anything else. I've spent the past 2 months purely on in running horse racing and I am starting to see patterns and spot opportunities.

It's tough, but I'm enjoying the challenge and its keeping me focused right now.

Dont expect this to be a get rich quick scheme though, Ive literally been breaking even for 3 months and only the past few weeks I've finally found 2 edges in the same week that seems to have some legs to it, I'm still testing these, but i am finally starting to make some small profits so I think I'm on the right tracks now, but still got a long long way to go, but as I said I've been on this now for 8 hours a day, 6 days a week for the past 4 months trying to get a strategy to work.

Just don't blow a bank, its not worth it.
Good luck though.

[Kai]

Ive literally been breaking even for 3 months

That's a pretty good start actually. Most people consistently lose and over a longer period than that, as they fall prey to every market trick in the book!

Yes, can be a long road but you don't need to be a wizard to be profitable, it's not all witchcraft like it may appear at first, there is a science to it and a bit of maths can go a long way.

GL & HF

[ShaunWhite]

there is a science to it and a bit of maths can go a long way.

I'd agree, but saying that at the alter of subjectivity might get you blackballed.

[sIGNAL]

Ive literally been breaking even for 3 months

That's a pretty good start actually. Most people consistently lose and over a longer period than that, as they fall prey to every market trick in the book!

Yes, can be a long road but you don't need to be a wizard to be profitable, it's not all witchcraft like it may appear at first, there is a science to it and a bit of maths can go a long way.

GL & HF

I have been playing with alot of caution and literally £1 stakes for the past 3 months whilst i gather data and get my head around the markets. Its only recently im starting to increase my stakes as i feel abit more confident in what im now doing. Will see how it goes but ive got nothing else to do with my time at the moment as im pretty much house bound at the moment so im in no hurry to make it work. its good fun though, i am enjoying the challenge and hopefully I can get some good rewards on the way.

[Kai]

Ive literally been breaking even for 3 months

That's a pretty good start actually. Most people consistently lose and over a longer period than that, as they fall prey to every market trick in the book!

Yes, can be a long road but you don't need to be a wizard to be profitable, it's not all witchcraft like it may appear at first, there is a science to it and a bit of maths can go a long way.

GL & HF

I have been playing with alot of caution and literally £1 stakes for the past 3 months whilst i gather data and get my head around the markets. Its only recently im starting to increase my stakes as i feel abit more confident in what im now doing. Will see how it goes but ive got nothing else to do with my time at the moment as im pretty much house bound at the moment so im in no hurry to make it work. its good fun though, i am enjoying the challenge and hopefully I can get some good rewards on the way.

Yes, I think it's important to enjoy the challenge

But not a fan of £1 practice stakes as it makes trading too one-dimensional with one definitive entry and one definitive exit, in an uncertain market, the emphasis would be on "getting it right".

While something like £3 would at least give you the option to split stakes into three and manage your position accordingly, the emphasis would be on managing your risk instead, even when "getting it wrong".

And for those struggling with their own ideas, I would always suggest to find concrete trading examples from various traders and reverse engineer those, from execution to setup, and work your way from there, that's for sure another way to do it.

[sIGNAL]

That's a pretty good start actually. Most people consistently lose and over a longer period than that, as they fall prey to every market trick in the book!

Yes, can be a long road but you don't need to be a wizard to be profitable, it's not all witchcraft like it may appear at first, there is a science to it and a bit of maths can go a long way.

GL & HF

I have been playing with alot of caution and literally £1 stakes for the past 3 months whilst i gather data and get my head around the markets. Its only recently im starting to increase my stakes as i feel abit more confident in what im now doing. Will see how it goes but ive got nothing else to do with my time at the moment as im pretty much house bound at the moment so im in no hurry to make it work. its good fun though, i am enjoying the challenge and hopefully I can get some good rewards on the way.

Yes, I think it's important to enjoy the challenge

But not a fan of £1 practice stakes as it makes trading too one-dimensional with one definitive entry and one definitive exit, in an uncertain market, the emphasis would be on "getting it right".

While something like £3 would at least give you the option to split stakes into three and manage your position accordingly, the emphasis would be on managing your risk instead, even when "getting it wrong".

And for those struggling with their own ideas, I would always suggest to find concrete trading examples from various traders and reverse engineer those, from execution to setup, and work your way from there, that's for sure another way to do it.

Good advice, I will take note and look into all of that some more. cheers