How much have you made?!

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Derek27
Posts: 25159
Joined: Wed Aug 30, 2017 11:44 am

Mcdonkey wrote:
Wed Dec 16, 2020 9:02 am
A couple of follow up questions:
1. How long did it take you to go from "i-dont-know-what-i'm-doing" to "oooh-i'm-making-money-with-this"
2. What sports are your bread and butter ?!
The "oooh I'm making money with this" is quite difficult to quantify. I was making money almost straight away (successful betting background) but not serious money - not much better than breaking even.

With all due respect, I think you're taking entirely the wrong approach (although you're not the first on this forum I've had to say this to). Footballers make millions but they don't join their after school football lessons with an eye to making money when they grow up. They join fully focused and exited on learning to play football, apply dedication to their training, and that's why they progress. Some of them will become professional footballers, most won't. It's a case of seeing where you can take yourself instead of looking at how far others can get.
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Derek27
Posts: 25159
Joined: Wed Aug 30, 2017 11:44 am

mcfc1981 wrote:
Wed Dec 16, 2020 9:45 am
Been here pretty much from day 1.
is it possible to make money? Yes
Will you make money? Maybe, depends on the time and effort you are willing to put in, what I will add is it's alot harder to turn a profit now then it was early Betfair days
How much have I made? What will say is I average £21 per market over my lifetime P/L
If that average includes weeks/months of £2 trading while you were learning or a lengthy 'break-even grind of death' spell that £21 per market must be uprated somewhat. :)
rik
Posts: 1583
Joined: Sat Jan 25, 2014 5:16 am

doubled the total markets over the last 9 months doing more automation, not doubled the total though
i guess if your doing tennis, football etc you can do 1 or 2 markets per hour, racing and automation usually way more
nonetheless £21 per market over lifetime cant be bad if you think it just be offset with side markets as well, testing, learning etc
rik
Posts: 1583
Joined: Sat Jan 25, 2014 5:16 am

mcfc1981 wrote:
Wed Dec 16, 2020 9:45 am
what I will add is it's alot harder to turn a profit now then it was early Betfair days
can you give specific examples why its gotten harder now, and by early days do you mean all the way back 20 years or so?
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goat68
Posts: 2048
Joined: Tue Jun 30, 2020 3:53 pm

Mcdonkey wrote:
Tue Dec 15, 2020 4:00 pm
Just signed up here, would be interesting to hear some of the members profit
1. How long have you been trading w bet angel?
2. how much do you make in a week/month
3. Is trading sports your full time job?

cheers!
Don't do it mate it will drive you crazy!!!
Currently: -£25 per month
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LeTiss
Posts: 5489
Joined: Fri May 08, 2009 6:04 pm

goat68 wrote:
Wed Dec 16, 2020 3:31 pm

Don't do it mate it will drive you crazy!!!
Currently: -£25 per month
You need to change your username......goat doesn't seem suitable ;)
HorseDark
Posts: 27
Joined: Sun May 06, 2018 2:45 pm

goat68 wrote:
Wed Dec 16, 2020 3:31 pm
Don't do it mate it will drive you crazy!!!
Currently: -£25 per month
Compare that with the financial cost of training in other fields of work.
marko236
Posts: 737
Joined: Fri Jul 12, 2013 11:54 am

HorseDark wrote:
Wed Dec 16, 2020 4:06 pm
goat68 wrote:
Wed Dec 16, 2020 3:31 pm
Don't do it mate it will drive you crazy!!!
Currently: -£25 per month
Compare that with the financial cost of training in other fields of work.
-£25 per month not bad, if goat opened and closed each trade 1 tick better, cut out a few bad trades he'd probs be in profit.
HorseDark
Posts: 27
Joined: Sun May 06, 2018 2:45 pm

marko236 wrote:
Wed Dec 16, 2020 4:18 pm
-£25 per month not bad, if goat opened and closed each trade 1 tick better, cut out a few bad trades he'd probs be in profit.
I would say very good. I did my Degree in a time when we didn't have to pay, but I am sure it was/is much more than £25 per month.
rik
Posts: 1583
Joined: Sat Jan 25, 2014 5:16 am

well a degree you pay for actual tuiton not just trying around yourself, watching videos etc
generally i think its not a good sign if your driving yourself mad and cant even make small profits
I feel a lot of strategies scaling up is the bigger challenge than being profitable, maybe not so much statistics based punting/ long term trading but anything in running, scalping related or lower liquidity markets your edge can easily go when taking more positions, increasing stakes
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

rik wrote:
Wed Dec 16, 2020 3:13 pm
mcfc1981 wrote:
Wed Dec 16, 2020 9:45 am
what I will add is it's alot harder to turn a profit now then it was early Betfair days
can you give specific examples why its gotten harder now, and by early days do you mean all the way back 20 years or so?
It was a lot easier when you didn't have to give away half your earnings to someone who was taking no risks and competing against you in the markets.
HorseDark
Posts: 27
Joined: Sun May 06, 2018 2:45 pm

rik wrote:
Wed Dec 16, 2020 4:27 pm
well a degree you pay for actual tuiton not just trying around yourself, watching videos etc
generally i think its not a good sign if your driving yourself mad and cant even make small profits
I feel a lot of strategies scaling up is the bigger challenge than being profitable, maybe not so much statistics based punting/ long term trading but anything in running, scalping related or lower liquidity markets your edge can easily go when taking more positions, increasing stakes
I didn't have any tutors at university, only lecturers who told us what to learn not how to learn it. Independent study was the major focus. I see many parallels with learning to trade, in my experience. The 'what' of trading is clearly defined, the 'how' not so much...

If he is driving himself mad, I would suggest changing the way he thinks about the market. Let it be a guide, not an opponent. Take value from every loss that has a pattern. Timing, liquidity, volume, type of race, price of runner, number of runners...
mcfc1981
Posts: 355
Joined: Tue Oct 27, 2009 11:54 pm

rik wrote:
Wed Dec 16, 2020 3:13 pm
mcfc1981 wrote:
Wed Dec 16, 2020 9:45 am
what I will add is it's alot harder to turn a profit now then it was early Betfair days
can you give specific examples why its gotten harder now, and by early days do you mean all the way back 20 years or so?
How has it got harder?

When Betfair started all you had to do was jump infront of the big stakes.....was like picking money up in the street, obviously now you get alot of spoofing.

Premium charge has made the game harder.

Players using automation I think has also played a part.

Mad bomber no longer seems to be about (thread on mad bomber if you have never heard of him) :lol: could make an easy £200 a race when he was knocking about.

Started off with a £500 bank .......backed the fav soon as the big stakes appeared worked a treat......built a bank from there and the rest is History as they say.
rik
Posts: 1583
Joined: Sat Jan 25, 2014 5:16 am

spreadbetting wrote:
Wed Dec 16, 2020 4:46 pm
rik wrote:
Wed Dec 16, 2020 3:13 pm
mcfc1981 wrote:
Wed Dec 16, 2020 9:45 am
what I will add is it's alot harder to turn a profit now then it was early Betfair days
can you give specific examples why its gotten harder now, and by early days do you mean all the way back 20 years or so?
It was a lot easier when you didn't have to give away half your earnings to someone who was taking no risks and competing against you in the markets.
is it fact that betfair is participating in the markets? why would you think that?
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Derek27
Posts: 25159
Joined: Wed Aug 30, 2017 11:44 am

goat68 wrote:
Wed Dec 16, 2020 3:31 pm
Mcdonkey wrote:
Tue Dec 15, 2020 4:00 pm
Just signed up here, would be interesting to hear some of the members profit
1. How long have you been trading w bet angel?
2. how much do you make in a week/month
3. Is trading sports your full time job?

cheers!
Don't do it mate it will drive you crazy!!!
Currently: -£25 per month
Don't do what? Trade?
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