Trading on Betfair for a living

[marko236]

Count me in too!

I`ve started for full time in 2011 and for the 5 straight years, it`s been improving..Out of 60 months, 59 ended up in profit and 51 in a row ( This month is a minus one so far, so I`m expecting a positive push from you guys! ) Tough I must say that I take this as a profession and try to be on top of the league : it`s absolutely been a pleasure so far..A pleasure which comes with the discipline and vision.

Meanwhile I`ve got to know 3 other traders who were full time then and still they are in the game.. Also I`ve met Peter recently so 5 people I can count in real life

Only 18 days left in this month better get your arse in gear fella

I'v been reading this thread and noticed some people complaining about doing this for a living, they must have had great jobs in the past!

I went part time at my work and must say it's a pleasure to get out of it to do some trading.

[threedogs]

I have to say that i have been trying to make money on Betfair for so many years i cant remember . I am always studying any ways to make it work and it was only about ten days ago the penny dropped .. i could not believe I had not seen the opportunity before it was so obvious.. i paper traded and it worked just fine .. i will never be a millionaire but my money worries are now over and I can make a decent tax free living at last .. I cannot say what my little niche is but would urge everybody to keep looking cos if i can make money every day from Betfair then anybody can .. good luck all ..

[marko236]

That's great to hear threedogs congrats, it's an interesting journey learning to trade if your willing to spend the time and keep testing new ideas eventually it's possible to get something out of the markets.

Did you ever think of giving up?

[3virgul14]

Count me in too!

I`ve started for full time in 2011 and for the 5 straight years, it`s been improving..Out of 60 months, 59 ended up in profit and 51 in a row ( This month is a minus one so far, so I`m expecting a positive push from you guys! ) Tough I must say that I take this as a profession and try to be on top of the league : it`s absolutely been a pleasure so far..A pleasure which comes with the discipline and vision.

Meanwhile I`ve got to know 3 other traders who were full time then and still they are in the game.. Also I`ve met Peter recently so 5 people I can count in real life

Only 18 days left in this month better get your arse in gear fella

I'v been reading this thread and noticed some people complaining about doing this for a living, they must have had great jobs in the past!

I went part time at my work and must say it's a pleasure to get out of it to do some trading.

Marko, thanks for the push mate! It worked as another good week saved the month and I could even skip the last week , went for a sunny chillout..60/61 now the scoreline

[PeterLe]

Wow Top Work ! Well Done

[marko236]

How many people make a living trading?? Atleast 1 lucky @#@#%&!

[LeTiss]

Tremendous figures, absolutely jaw dropping

Depending on your outlook on life, it would be so easy to be full of resentment and anger at the amount of PC taken by BF, but on the other hand you've still cleared £8000

Try finding another job where you take home £8k per week after deductions!!

[skotten84]

Count me in too!

I`ve started for full time in 2011 and for the 5 straight years, it`s been improving..Out of 60 months, 59 ended up in profit and 51 in a row ( This month is a minus one so far, so I`m expecting a positive push from you guys! ) Tough I must say that I take this as a profession and try to be on top of the league : it`s absolutely been a pleasure so far..A pleasure which comes with the discipline and vision.

Meanwhile I`ve got to know 3 other traders who were full time then and still they are in the game.. Also I`ve met Peter recently so 5 people I can count in real life

Only 18 days left in this month better get your arse in gear fella

I'v been reading this thread and noticed some people complaining about doing this for a living, they must have had great jobs in the past!

I went part time at my work and must say it's a pleasure to get out of it to do some trading.

Marko, thanks for the push mate! It worked as another good week saved the month and I could even skip the last week , went for a sunny chillout..60/61 now the scoreline

Wow!! Crazy figures! Kudos.

Any chance of you sharing some other nuggets of info for the benefit of us aspiring traders please? What sports do you trade, what stake sizes etc...

[Crazyskier]

[/quote]

Wow!! Crazy figures! Kudos.

Any chance of you sharing some other nuggets of info for the benefit of us aspiring traders please? What sports do you trade, what stake sizes etc... [/quote]

I'd be interested in learning this too...

[Rufus]

This has been a brilliant thread. I've just finished reading every post.


It's been good for me to read these posts as it has given me some comfort and confidence. I've been learning for almost a year now, from scratch, and this week it seems to be clicking more with another tweaked approach. It's great to know that people get some great returns each week.

I have a question which comes with the territory of being a full-time trader... When it comes to buying a house and mortgage, let's say as a first time buyer, surely it will be impossible to do so on a part-time job as well as being a part-time trader? I assume that you would basically have to save up enough from trading to pay off a huge chunk of the house up front in order for the remaining amount to be affordable against your part-time job as the mortgage provider won't accept 'gambling' as a source of income?

I say this as I would like to get my first house in the next couple of years and it is something that I have been thinking about as I develop my trading to hopefully a sustainable and successful level like a lot of you.

[Dallas]

Glad to hear things are clicking into place for you Rufus, it just reinforces what is often said on here that those who dedicate themselves and put the time and effort in that will make something from this where as the ones looking for easy cash are always the first to fall so well done and keep it up.

Regarding a mortgage your right that trading income will not be taken into account by any lender even if your making a good living wage from trading you would have to remain in some sort of regular employment till you have gone through the purchase process, even being self employed lenders now require a good 3 years of decent accounts/tax returns and with no tax to pay on trading profits its not even viewed as self employment so you will find it impossible to get a application through without what a lender considers a verifiable regular income.

So my advice would be to definitely keep a part time job going and use any money from trading to save for a deposit - when you have enough it may even be easier to then look for a full time job and go part time / spare time trading for a few months while you go through the application process

[LeTiss]

Rufus, the one negative aspect of this job as a full-time profession, is that it destroys your credit rating

Because we don't pay income tax, and because it's gambling related, the banks steer clear of you quicker than they would a terrorist

[Rufus]

Thanks for the advice and info, Dallas, and LeTiss.

I guess it's pretty much what I thought. I was envisaging paying a large part of a deposit, so thanks for your input, it has clarified things for me.

On the plus side, my part-time job is online and my pay keeps me ticking over in the 'system' (a friend who introduced me to trading works at the same place). I am self-employed as well, doing things I love to do and would be doing anyway. Even after all this, it means I can still do about 4 days a week of trading of a few hours a day. I did about 5 hours yesterday, for example. Smaller stakes, but still. Doing it with £5 and £10 now means I can definitely do the same with £50 and £100+ the line when my bank has grown.

Dallas, yes, it's a long term view for me and I know that if I take it steady, over the course of time, it will just 'work' through natural improvement. Regardless of how my morale has been, I've tried to take breaks when needed in order to stay fresh and also to manage the situations well; Improve exits and quality of the markets I trade on - as was mentioned earlier.

It can be hard to NOT participate, especially when I'm not as experienced as a lot of you and what I think isn't as tradable, actually could be, although this depends on individual strategy. A tactic I tried yesterday to try and keep me calm/refreshed when I should be missing that race (rather than just waiting and sapping my energy), is to have my Sega Game Gear next to me and play that for a few minutes. It re-focused me better so I'll do that tomorrow as well

[skotten84]

This has been a brilliant thread on what is surely the best (only?) place to discuss sports trading on the net!

I myself am not full-time yet but am working towards it, growing my bank steadily. 2% a day is my target and I hit that most days, trading back-to-lay horses mainly. I'm also working on a website that will, in good time, allow me to quit my day job and be at home in front of my screens every day, Which I'm hoping and intending will be the boost that I need to "go pro" as a trader!

Interesting (and mildly depressing) to read the comments above re mortgages, credit, etc.... Will just have to buy my house cash then haha!

Another somewhat negative aspect to doing this has to be the loneliness?! Sitting at home alone in front of your screens all day can be boring. I am in a whatsapp group with several guys I met on Profit Accumulator, the matched betting forum, to combat this if anybody is interested in taking part. The group is 90% serious trading chat, with a little bit banter too of course. Cricket, footie, basketball and of course The Sport of Kings are traded there daily. If anybody is interested just pm me your number and I'll add you!

Now to go load today's racecard into Guardian!

[marksmeets302]

I am "on my own" now for 2 years, and by now the loneliness should have set in. It didn't. I am thankful every day that I now get to choose when and how to connect with others, instead of letting them dominate my agenda.