Advice About Sports Trading
Hi everyone, this is my first post as i have only just registered 5 minutes ago, i have been researching the web over the last 2 weeks about becoming a sports trader, i have the knowledge of using Betfair and online bookmakers but have come to the conclusion that i am never going to make a profit in the long run, i have also been looking at Betfair trading software Bet Angel Pro, The Geeks Toy and Bet Trader seem to be the top 3, i have decided to give Bet Angel Pro a go on the 1 month free trail but before i register can anybody give me any help or advice whatsoever on anything to do with starting up or the do's and don't s, i am looking at scalping horses at the moment for my first trading experience, any advice will me much appreciated. Many Thanks Graham.
My only advice would be to use practise mode for a while to familiarize your self with the software
and then go on to using very small stakes.
you will probably get eaten alive the
first week / month / year depending on how quick a learner you are.
good luck
and then go on to using very small stakes.
you will probably get eaten alive the
first week / month / year depending on how quick a learner you are.
good luck
Graham, my biggest piece of advice to a newbie who has decided to trade instead of bet, is don't let your gambling instincts take over when a trade has gone wrong and you have a red screen.
If the trade hasn't worked out, take the loss and learn from it. Try to understand what you done wrong & why, and slowly those losses will become profits.
The biggest disaster, is out of anger and frustration to let that bad trade go 'in play'. You may recover your losses once or twice, but at some stage you will lose the whole bank, just through a lack of discipline
If the trade hasn't worked out, take the loss and learn from it. Try to understand what you done wrong & why, and slowly those losses will become profits.
The biggest disaster, is out of anger and frustration to let that bad trade go 'in play'. You may recover your losses once or twice, but at some stage you will lose the whole bank, just through a lack of discipline
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malcolmk33
- Posts: 14
- Joined: Thu Sep 20, 2012 12:40 am
A perfect example of what LeTiss was trying to convey.
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Thank you for all the replies, it is much appreciated and all advice will be taken, can anybody recommend any of the easier sports trades (if there is any)for me to try on my practice mode or minimum stakes, i have been reading a lot about horse scalping and would like to give it a go, is this classed as one of the easier or difficult way of trading.
Graham
Graham