£25 a day - A beginner's journey

[tico]

Hi all
Has anyone ever seen an experiment with trading where someone has spent a month or so trading every day and posted up a success. I haven't . .Lets face it ,if it was possible some foolhardy philanthrophist would have done it by now
Tico

[Kai]

Lovely day for fishing innit

[Fugazi]

Lovely day for fishing innit

Inuit*

[Goobs]

I would say this thread sums up the Bet Angel forum pretty well, I've been floating about for a good long while, and for 10+ years wet behind the ears punters eager to make some side money come in, only to be shot down by the likes of Shaun, Kai and Euler et al....

And they aren't wrong.... at the end of the day, we are all losing money to someone, the only real actor making "consistent" money is the exchange, and even they seem to be having a tough time of it reading their financial reports.

The real question is, are we all losing to the same group of actors? Or is it more that we are all just passing money to each other in some zero-sum game?

I've been trying to find some consistent way to make money on Betfair for about 5 years, to no avail.... YTD -£500, which is better than some previous years #progress

[jamesedwards]

I would say this thread sums up the Bet Angel forum pretty well, I've been floating about for a good long while, and for 10+ years wet behind the ears punters eager to make some side money come in, only to be shot down by the likes of Shaun, Kai and Euler et al....

And they aren't wrong.... at the end of the day, we are all losing money to someone, the only real actor making "consistent" money is the exchange, and even they seem to be having a tough time of it reading their financial reports.

The real question is, are we all losing to the same group of actors? Or is it more that we are all just passing money to each other in some zero-sum game?

I've been trying to find some consistent way to make money on Betfair for about 5 years, to no avail.... YTD -£500, which is better than some previous years #progress

It's absolutely possible to be consistently profitable. Almost 7 years since I took redundancy and Betfair has been my sole income ever since. It's hard work, mind, but a much better lifestyle and income than my previous job.

[Goobs]

Are you mostly trading horses James?

[jamesedwards]

Are you mostly trading horses James?

Yes. Mostly in-play.

[ShaunWhite]

A long term living is doable and many people* do it, but it's competitive and the competition isn't getting any easier. In a market with 100k traded there's probably only about one or two grand that can be extracted as profit so you need sharp elbows to get any. Remember the number of people on this forum are the tip of the iceberg when it comes to participants. 00s use non-BA automation, or other software, and most people doing this as a job are just quietly getting on with it. And there's a handful of people taking 7 figures a year on a regular basis so you're competing with them too.

* Best estimate I've seen/worked out is somewhere between 500 and 2000 who make enough that it could be a living.