Well said and nice posts, Steven1976 and Wolf.
Onwards and upwards.....
what do you aspire for financially?
Everybody aspires to different, but the same goals, financial independence on some level.
But to do this as a Peer2Peer site somebody has to lose. As long as newbies keep coming and feeding the Betfair site (till they have learned enough) things will continue.
There will however come a time when newbies no longer come to Betfair, and then the fun begins.
Bots against bots etc, the regulars feeding upon themselves. Like everything, without the right evolution, Betfair has a finite life.
I'm happy, I used to make good returns on horse racing 6-7 years ago. Now I don't even bother trying.
I make profits in other areas. As a pensioner I have the time to research etc. I'm not a computer luddite, before retirement I was well into computer programming, now I still do this for fun and make decent returns to make my wife and I happy.
But I look forwards to the future, the PC introduced by Betfair is the start of its decline, whether they or people like it or not.
Now I look to other online betting exchanges, none are seriously challenging Betfair yet, but who knows?
In the meantime I'm happy and continue to plough my own furrow in my markets to keep us both financially happy.
But to do this as a Peer2Peer site somebody has to lose. As long as newbies keep coming and feeding the Betfair site (till they have learned enough) things will continue.
There will however come a time when newbies no longer come to Betfair, and then the fun begins.
Bots against bots etc, the regulars feeding upon themselves. Like everything, without the right evolution, Betfair has a finite life.
I'm happy, I used to make good returns on horse racing 6-7 years ago. Now I don't even bother trying.
I make profits in other areas. As a pensioner I have the time to research etc. I'm not a computer luddite, before retirement I was well into computer programming, now I still do this for fun and make decent returns to make my wife and I happy.
But I look forwards to the future, the PC introduced by Betfair is the start of its decline, whether they or people like it or not.
Now I look to other online betting exchanges, none are seriously challenging Betfair yet, but who knows?
In the meantime I'm happy and continue to plough my own furrow in my markets to keep us both financially happy.
Interesting stories. I started around 2010 on the UK horse racing, I did have some success with Betangel automation, but manually my trading has always been a disaster (i.e., worse than hopeless). I had much more success with punting rather than trading.
In 2012 I got a division.2 win on the New Zealand national lottery (5 numbers + bonus), I won 34K there, I guess that's been the thrill of my life so far gambling-wise. A high that will be hard to top.
I took a rest from Betangel after heavy losses on manual trading in '12, I won't try manual trading again because manual trading doesn't agree with me
I definitely want to come back and continue Betangel automation however, I never lost on automation and I know there are some simple automation methods that definitely work on the UK horses (pre-race).
I'm curious as to whether Peter can teach his children, I'm pretty sceptical that this trading stuff is teachable. Google research suggests that more than 90% of people attending financial trading courses never learn to make a profit.
Short-term trading/gambling is a negative-sum game. Someone wins, someone else has to lose and commission/charges are taken out also. So its more like a combat sport. I'm not saying that's bad, in fact it cuts out a lot of the hypocrisy that pervades ordinary everyday life - there is a sort of brutal honesty and purity to it all.
My main motivation in looking at trading/gambling was to find a way to achieve location independent income - that is, to have a source of income not dependent on location, since I love to travel. I always aspired to be a full-time traveller actually, away on trips for months at a time. I would be happy with 50K/year, since this is sufficient for me to travel full-time with careful budgeting.
Although I have managed long-term travel on and off through free-lance writing and the occasional big gambling win (most notably the 34K lotto win I mentioned above), unfortunately I still haven't achieved the dream of consistent location-free income of 50K/year.
In 2012 I got a division.2 win on the New Zealand national lottery (5 numbers + bonus), I won 34K there, I guess that's been the thrill of my life so far gambling-wise. A high that will be hard to top.
I took a rest from Betangel after heavy losses on manual trading in '12, I won't try manual trading again because manual trading doesn't agree with me
I definitely want to come back and continue Betangel automation however, I never lost on automation and I know there are some simple automation methods that definitely work on the UK horses (pre-race).I'm curious as to whether Peter can teach his children, I'm pretty sceptical that this trading stuff is teachable. Google research suggests that more than 90% of people attending financial trading courses never learn to make a profit.
Short-term trading/gambling is a negative-sum game. Someone wins, someone else has to lose and commission/charges are taken out also. So its more like a combat sport. I'm not saying that's bad, in fact it cuts out a lot of the hypocrisy that pervades ordinary everyday life - there is a sort of brutal honesty and purity to it all.
My main motivation in looking at trading/gambling was to find a way to achieve location independent income - that is, to have a source of income not dependent on location, since I love to travel. I always aspired to be a full-time traveller actually, away on trips for months at a time. I would be happy with 50K/year, since this is sufficient for me to travel full-time with careful budgeting.
Although I have managed long-term travel on and off through free-lance writing and the occasional big gambling win (most notably the 34K lotto win I mentioned above), unfortunately I still haven't achieved the dream of consistent location-free income of 50K/year.
Inspired by a combination of my Kiwi friend Zenyatta, and personal boredom of being stuck in my flat all day....just staring at my laptop, I am currently putting together all my finances and devising an itinery for 2015
Staring with Australian Tennis Jan 2015, I plan to write a blog - it will be me travelling the world trading and gambling in a variety of different/unusual places for 12 months!
I've always loved Jonathan Rendall and his book Twelve Grand which was then turned into a C4 series. So I suppose, deep down I've wanted to emulate the bedrock of that book, but without the personal destruction of Rendall, that ultimately contributed to his early death last year
Anyway, watch this space!!!
Staring with Australian Tennis Jan 2015, I plan to write a blog - it will be me travelling the world trading and gambling in a variety of different/unusual places for 12 months!
I've always loved Jonathan Rendall and his book Twelve Grand which was then turned into a C4 series. So I suppose, deep down I've wanted to emulate the bedrock of that book, but without the personal destruction of Rendall, that ultimately contributed to his early death last year
Anyway, watch this space!!!
-
Wainwright
- Posts: 108
- Joined: Mon Jan 23, 2012 1:10 pm
Fantastic LeTiss - great plan.
It kind of sums up why I'm pursuing this game too - it's really the freedom rather than the money
It kind of sums up why I'm pursuing this game too - it's really the freedom rather than the money
Wainwright wrote:it's really the freedom rather than the money
Yep. I earn a bucketload of money in my day job. And yet I crave freedom. I want to spend time with my kids. My ultimate aim is to be retired from my day job by 50. But money is addictive and I get so much it's hard to scale back.
I wanted not to have to work in the conventional sense. Back in 2006 I had my best-ever year achieving a goal of £1K per week. This was backing horses - not trading. Fortunately I kept the day time job, as the edge I had eroded fairly quickly over the following years. I did manage to go to part-time work, followed by working at home - and I retired all together recently. The mortgage is just about paid and I have a decent pension, and my goal now is just to make £10K-£20K per annum. It's been several years since I had a winning year, but I have high hopes of achieving my goal using BetAngel automation with spreadsheets.
Fantastic man, you will be living my dream, so I will be very curious to see what happens.LeTiss 4pm wrote:Inspired by a combination of my Kiwi friend Zenyatta, and personal boredom of being stuck in my flat all day....just staring at my laptop, I am currently putting together all my finances and devising an itinery for 2015
Staring with Australian Tennis Jan 2015, I plan to write a blog - it will be me travelling the world trading and gambling in a variety of different/unusual places for 12 months!
Be warned though, that trying to trade/gamble when on the road is very different to trading at home where everything is comfortable!
Firstly, one needs to put everything on the VPS , and connect using a good laptop.
Secondly, there are many distractions and potential interruptions when travelling, so next one needs to learn to automate as much as possible in order to reduce the time you need to spend at it.
Thirdly, one usually needs to locate a good 'mobile office' wherever you go - good cafes/coffee shops that don't mind you hanging around for several hours/per day are best for this, preferably a shop with fast reliable free Wi-Fi.
Fourthly, the pressure really will go on! Failure will mean you'll either be on the street, forced home, or forced to look for work wherever you are. So large cash reserves are needed.
I tried the travel blogging for a short time. There really are some fantastic travel blogs out there, and people who have managed to make a good living from their travel blogs. Nomadic Matt is one of the most well-known travel bloggers...he travelled the world non-stop for a number of years, and turned his travel blog into a 6-figure business:
http://www.nomadicmatt.com/travel-blog/
Lets see how long you survive
LeTiss - First thoughts - Lucky Bugger!
..Just thought, but why not approach certain publications (racing post etc) before you go and agree to write a weekly write up of your explorations (in return for a fee of course)...(jeff could wordsmith it for you too!)
If you do get a sponsor, You could also write to some of the sporting venues you intend to visit and they may give you concessions on entry prices (or entry into the press boxes etc, i.e. you could say you are writing for the racing post etc, nothing like blagging it)
(Maybe start a new thread on other suggestions ? )
What about some of the aussie lads taking you for a pint (or amber nectar!) and a curry and you could show them how us English lads do it!
..Just thought, but why not approach certain publications (racing post etc) before you go and agree to write a weekly write up of your explorations (in return for a fee of course)...(jeff could wordsmith it for you too!)
If you do get a sponsor, You could also write to some of the sporting venues you intend to visit and they may give you concessions on entry prices (or entry into the press boxes etc, i.e. you could say you are writing for the racing post etc, nothing like blagging it)
(Maybe start a new thread on other suggestions ?
)What about some of the aussie lads taking you for a pint (or amber nectar!) and a curry and you could show them how us English lads do it!
The trouble I've found with travelling and trading is getting a reliable connection. That seems to vary a lot depending on where in the world you are. You also need to consider IT outages. So I tend to travel where I know I can get back up equipment at short notice. But I guess some of all that depends on what you are earning per session and where you are going.
As a seasoned traveller happy to offer advice when if you need it.
As a seasoned traveller happy to offer advice when if you need it.