Betfair scalping for beginners

[scottyboy319]

Hi, Yeah it is, sorry I saw this thread and thought I might have a better chance of getting a reply/help!

I noticed that on the one click page the global settings icon was uncrossed but in ladder page it was crossed. So maybe that was the problem?! I have attached images of a log and settings I'm using too. Thanks for your help One other thing that I'm finding strange is that I will have back and ley bets matched but in the log text it will say the bet was completely unmatched!

[Dallas]

The global settings are independant on each screen so ensure you have them enabled on the one you want to place your bets/trades on

Other than that your settings are fine, you might want to increase the fill/kill time from half a second (0.5) to a few seconds to give your bets a better chance of being matched - when they do get matched its working fine, if you look on your log at 14:23:08 you'll see after your back bet was matched the offset lay of £2.06 was placed (this included greeing) so if that too was matched you will of had a 0.06p profit on all selections just from that one trade.

The log only shows a matched bet IF its matched at the moment it reaches the market, if its matched some time after that you wont see it in the log and will need to refer to the matched bets tab and cross check the id numbers.

Some threads you might want to look at
http://www.betangel.com/forum/viewtopic ... 47&t=12967
http://www.betangel.com/forum/viewtopic ... 47&t=12597

One last thing i would remove those images now as both are showing your Betfair username and in future just for your own security blot this info out if uploading a image

[scottyboy319]

Ok great, thanks for your help I will check out them threads.

I just watched this video...

https://www.youtube.com/watch?v=wZXE7xPyG3M

I did everything exactly the same as peter did but still just broke even! After the bets got matched I ticked the green "hedge" icon and it said I would have a profit of 11p whatever the outcome...this profit margin was going up and down throughout the race tho and the lay bet ended up winning and I broke even!

Here is a screen shot of the log.

[Dallas]

It looks like your trying to jump between two seperate features of the software and ending up not achiving what your after.

The 'Make Market' button' (as shown in the video) is a different way of scalping and is seperate from global settings.

So if you want to use the 'Make Market' button it can not green as you go and it will only place the same size bet either side of the current price - you will need to green each bet afterwards or when you have finished placing all your trades (before the race goes in-play)

To do this as shown in the video tick the 'Green' box but you then have to click on one of the profit figure below to actually place the bet required to green up - when this is done and its matched you ll see the amount below the selections name change to show this has been done.

If your placing your bets directly on the ladder or one click screen (and not using the make market button) then the global settings can be used to green as you go - your screenshot shows you are set up to do this just make sure the blue cog is uncrossed and place your trades using either the ladder or one-click screen - when your first bet is matched the offset (including the amount needed for greening) will be placed for you

The two links posted above will cover this in more detail aling with images showing exactly how to do it & were to click etc

[Bluesky]

My advice at this stage of your progression would be to concentrate on one thing (why not football, as you clearly have a passion for it). there was a couple of posts this week that will give you at least two pointers that you could trade and easily make a couple of thousand a month from.

This post was made several years ago, so I'm guessing that whatever Peter was referring to may no longer work. However I would be pleased if Peter Lee or anyone else who knows which posts he was referring to in this comment could link me to them so I could see what he was talking about.

[ruthlessimon]

Those words are so valuable. Trying to be a jack of all markets, you'll burn out & get incredibly frustrated very very fast. It's an very very advanced skill, switching between methods/reading techniques.

If you had 1 year to learn how to drive a car, bus, lorry, plane, helicopter; I guarantee that you wouldn't switch between each every 10 minutes!! So why do the same with trading!?

Stick with one, & become as good as you can get before moving to the next

-bit of a tangent Blue soz but that post from Pete is gold

[PeterLe]

My advice at this stage of your progression would be to concentrate on one thing (why not football, as you clearly have a passion for it). there was a couple of posts this week that will give you at least two pointers that you could trade and easily make a couple of thousand a month from.

This post was made several years ago, so I'm guessing that whatever Peter was referring to may no longer work. However I would be pleased if Peter Lee or anyone else who knows which posts he was referring to in this comment could link me to them so I could see what he was talking about.

Morning, Sorry i cant remember. I still only trade the inplay markets horse racing every day on auto (Ive manually traded almost everything, but these days id rather spend time with family, so its auto or nothing for me).

[1aslingm]

Hi all,

Firstly I will say, go easy on me I'm only new

After several years of gambling (and losing), I have decided to enter the world of trading. I have downloaded Betangel Trader and have been using the practice the mode to try and understand how scalping works,

I'm not coming into this completely blind as I have been doing as much research as possible, although I am a firm believer of learning on the job.

After scalping some markets on today’s horse racing, there was a few things that puzzled me and I'm sure with experience I could of predicted such things.

I understand the market does not have much liquidity and therefor is very volatile, but some things left me baffled as just when you thing the odds are going in your favor, bam! They shoot 4 or 5 ticks in the opposite direction (hasn’t happened for me yet, always against me, but I know it will swing in roundabouts)

I have a few questions if someone would be so kind to help or at least point me in right direction,

Firstly after looking at this market and seeing the how many ticks apart prices had been matched I thought the 2nd fav would be an easier one to scalp, is my thought process correct?

If you see the screen shot below, you can see that the WOM and market suggestion is that the favorite and second favorite should be drifting with a healthy 71% on fav pushing it up, I know the second fav isn’t as much with only 51% but has decent money either side.

I just wanted to know how accurate them signs are and do you take them as gospel?

I also know when scalping you want to be in and out of the market as quickly as possible, but I was waiting for around 2-3 minutes to be matched on my £10 back bet. Which tells me if I was using bigger stakes I could have been waiting much longer to get matched.

These are my results for today’s scalping using £10 stakes;

+£0.62, + £1.21, + £0.14, + £0.86, -£0.29, + £0.63, -£2.69 (in play), + £0.65 & + £0.40

So apart from the one blip where I let my gambling side take over and let it run in play (something I will need to work on) it was a fairly good day.

Although I do think until I can learn to be disciplined I will have to put a stop loss, im looking at about 5 ticks? I have used it before on 3 ticks but just from judging markets I know they can go up to 3 ticks and then come back to you again, so if it’s gone 5 ticks away the chances are that it will only get worse so cut my losses and move on.

Any advice would be greatly welcomed,

Thanks

Matt

[Iron]

Hi Matt

My advice is to set up automated trading, and see what works and doesn't using small stakes.

That will beat the hell out of any amount of armchair theorising.

I hope that doesn't sound like I'm being unhelpful. When someone on this forum told me much the same, I thought 'condescending tw@t!', but he was right (if he's reading this, I think he'll know who he is).

Jeff

[1aslingm]

Hi Jeff,

I appreciate any advice or replies so will take them all on board,

I don't know too much about automated trading, so will probably have to do a bit of research about what it is and how to apply it.

Cheers

Matt

[to75ne]

Hi Matt

My advice i ;;;;;;;;;;;;;;;

Jeff

fleeting visit or have you come back?

[Iron]

Very much a fleeting visit.

I got a notification that there was a reply on this thread, so out of curiosity I visited.

When I read Matt's message, it reminded me of some of my messages, and I thought I'd do a reply that will hopefully shorten his learning journey, and spare him some of the pointless introspection aka worrying that I went through!

Jeff

[to75ne]

shame its fleeting, always good to hear from you. best of luck

[Bluesky]

shame its fleeting, always good to hear from you. best of luck

+1

[Bluesky]

If you see the screen shot below, you can see that the WOM and market suggestion is that the favorite and second favorite should be drifting with a healthy 71% on fav pushing it up, I know the second fav isn’t as much with only 51% but has decent money either side.

I just wanted to know how accurate them signs are and do you take them as gospel?

It would be nice if you could take WOM as gospel but unfortunately trading is not that easy. WOW is calculated if memory serves correctly on the first three price points on either side of the current market price. People will use this fact to try and manipulate the market by placing large orders say in position two or three so their price wont be taken but it will influence the WOM.

From what I have read and been told, scalping is much harder now that it used to be. There is a large scalping thread on this site somewhere, read through it, it should help.

Don't be impressed with practise mode profits, practise mode is good for getting to grips with using the software and I guess if you cant make a profit using practise mode (and your taking is seriously) then there would not be much point using real money. However even using stakes like £10 you will find using real money is completely different and nothing like practise mode.