Hi guys,
I've been playing on demo mode on and off up until recently. the last week or so I really concentrated on it and started consistently netting a good profit 5-10%.
What would be a good size stake to start trading with? I was thinking perhaps 2k?
any other information would be handy.
thanks
Few questions
I recommend you read this series of articles here - viewtopic.php?f=17&t=8320
There are many different views on this. Perhaps some of our regular posters could contribute?
The only advice I can give you at this stage is not to use money you can't afford to lose. Also, stakes of £2K may be on the high side especially if you are not comfortable with using the software yet. And even then, it will depend on the market and your trading style.
The only advice I can give you at this stage is not to use money you can't afford to lose. Also, stakes of £2K may be on the high side especially if you are not comfortable with using the software yet. And even then, it will depend on the market and your trading style.
I wouldn't ever risk the full 2k. I was looking at maybe risking up to £25 liability per race with a stop loss of no more than £50? Im quite comfortable with the software as it stands and love the 'green up' option.
Btw Mugs I love the videos and explanations on them has helped me understand patterns far quicker than i thought i would.
Btw Mugs I love the videos and explanations on them has helped me understand patterns far quicker than i thought i would.
Appreciate the kind words 
That sounds like a sensible starting point. Sorry Kelpie I sort of disagree here. The best thing is to not have 2k in the bank to start with.
Stick £500 in and keep the rest in reserve - why let Betfair make interest on it? If you're ladder trading using 10% of your bank is fine.
See how it goes and increase your stakes as the bank grows.
The way I stake is in lumps (as you will have seen). I open my position and add to it as the trade goes my way. This means on the upside, I have less risk if i get the initial trade wrong. On the downside if i was spectacularly right i don't make as much as I should. The way the markets are now I am happier doing it this way. I am not greedy
Remember your trading it and it's not a total loss (unless the site has an outage) aaaggghhhhhh.
Staking is really tricky to advise, but I would alway err on the side of caution
That sounds like a sensible starting point. Sorry Kelpie I sort of disagree here. The best thing is to not have 2k in the bank to start with.
Stick £500 in and keep the rest in reserve - why let Betfair make interest on it? If you're ladder trading using 10% of your bank is fine.
See how it goes and increase your stakes as the bank grows.
The way I stake is in lumps (as you will have seen). I open my position and add to it as the trade goes my way. This means on the upside, I have less risk if i get the initial trade wrong. On the downside if i was spectacularly right i don't make as much as I should. The way the markets are now I am happier doing it this way. I am not greedy
Remember your trading it and it's not a total loss (unless the site has an outage) aaaggghhhhhh.
Staking is really tricky to advise, but I would alway err on the side of caution
well I was going to do something similar whereby i keep the majority of my bank in skrill. I was wondering why you put more money in as the swing was going your way. personally if i can make between 200-300 a day out of this eventually then work will be getting the most elaborate resignation in history 
Its more script and performance than letter!to75ne wrote:you have a long way to go to get to 200 - 300 a day - dont get your letter ready yetAnasAbbo wrote: personally if i can make between 200-300 a day out of this eventually then work will be getting the most elaborate resignation in history
mugsgame wrote:If you are starting out try £2 stake size not £2k - Increase as your confidence and competence grows. practice mode is not the same as having real money in the market. Real money changes your decision making process.
Oh how things have changed in the last two years
I have been thinking about handing in my notice to myself (Self employed you see)for all of those two years thinking I have cracked this trading lark - even Mugs seems to have mellowed I remember getting slated for asking similar things when I first started and I got dragged over the coals by you Mr Mugs. Have you found Karma 
I second this whole heartedly. Please please do not rely on practice mode. It does not reflect how it works really and certainly does not reflect how your heart pounds away knowing you are risking real money. Small stakes I am afraid is the way forward in 'live mode' now you understand the basics. Get away from practice mode as soon as possible it will make you think you have conquered the world if not.mugsgame wrote:If you are starting out try £2 stake size not £2k - Increase as your confidence and competence grows. practice mode is not the same as having real money in the market. Real money changes your decision making process.
Ferru123 wrote:Next time you're having a bad day, remember that some of us have no choice but to get out of bed to earn £300 or less for a week of 9-5 grind.mugsgame wrote: In fairness to him I wouldn't get out of bed for £300 a day
well you know im not greedy i would settle for £300 a day 6 days a week
By all means mugs if you want to show me how to make more go right ahead!