I only came to trading this year. Gambling in the past and ending up losing too much money.
I can make a small profit through scalping usually £25 stakes or less and some automation and then end up blowing it using inplay trader !
After i have blown it going inplay sometimes £30 - £40 i try to claw it back.
I do manage to recover most of my loses over a few days and more or less break even. Again through scalping and automation,dutching.
I can make money on inplay trader but it takes just one race to go wrong and wipe you clean.
Discipline definetly has a strong part to place to play in this. Be selective on your races also is the key.
So i am only doing horse racing. Do you think i should look at tennis and football to some extent through automation.
Don't know if any of you guys are into shares but keep a very close eye on Sirius Minerals SXX.
I work in the potash industry and they have received planning permission to build a new mine. They need to raise a lot of money though.
My dad has a few shares and made £17,000 in last two weeks. Keep a close eye on it. Code is SXX.
So as a professional betfair trader do you guys use large stakes ?
newbie
You need a strategy, an idea, a hunch. It doesn't need to end up being right, but you have to start somewhere and with something and then work out why your first idea was wrong (or why it works) and tweak and develop from there.
Just trying something without an idea is a waste of time (unless I guess you are trying to randomly discover something - which is certainly possible. You need your mind sharp and in learning mode).
To learn the software, play around in practice mode. When you can't work something out read the manual. That's what it's there for. Watch the videos. There are so many. They are easy to find. You will learn.
Read posts from people like jollygreen, Dallas, Andy, the various peters, letiss etc. Read Peter's blogs.
The rewards will generally follow discipline and effort. I you don't have discipline fold the tent now or resign yourself to minimising your losses and treat it all as an entertainment expense.
Just trying something without an idea is a waste of time (unless I guess you are trying to randomly discover something - which is certainly possible. You need your mind sharp and in learning mode).
To learn the software, play around in practice mode. When you can't work something out read the manual. That's what it's there for. Watch the videos. There are so many. They are easy to find. You will learn.
Read posts from people like jollygreen, Dallas, Andy, the various peters, letiss etc. Read Peter's blogs.
The rewards will generally follow discipline and effort. I you don't have discipline fold the tent now or resign yourself to minimising your losses and treat it all as an entertainment expense.
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Crazyskier
- Posts: 1296
- Joined: Sat Feb 06, 2016 6:36 pm
Never a truer word said!gazuty wrote: The rewards will generally follow discipline and effort. I you don't have discipline fold the tent now or resign yourself to minimising your losses and treat it all as an entertainment expense.
I'm going to stick at it and definetly not folding the tent away. Hope to progress to a caravan 
What motivates me is that there are 140+ redundancies coming where i work. And being in a job for over 20 years and then not knowing whether i will be in a job or not in the next few months is stressful. I know i'm only making peanuts if that but anything is better than being on the dole.
I've watched nearly all Peter's videos and learnt a lot. Keep up the good work Pete.
What motivates me is that there are 140+ redundancies coming where i work. And being in a job for over 20 years and then not knowing whether i will be in a job or not in the next few months is stressful. I know i'm only making peanuts if that but anything is better than being on the dole.
I've watched nearly all Peter's videos and learnt a lot. Keep up the good work Pete.
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Abraquay,
Is Horse Racing your favourite sport?
Is Horse Racing what you know most about?
My advice too many people in days gone by when they were also at a crossroads, is to firstly learn the markets. That's easier to do when being involved in the sport you have a passion for, because you have more confidence in your trades, as many trades will be placed with knowledge of the subject/teams/players
From there you can then start gradually branching out
Also, take notes. Jot down the successful trades, and what you done, why and when. Do the same for the shitty trades - ask yourself what went wrong and why?
Over a period of time you will notice the errors that need eradicating, you will notice what works for you. This is a vital step towards success
Is Horse Racing your favourite sport?
Is Horse Racing what you know most about?
My advice too many people in days gone by when they were also at a crossroads, is to firstly learn the markets. That's easier to do when being involved in the sport you have a passion for, because you have more confidence in your trades, as many trades will be placed with knowledge of the subject/teams/players
From there you can then start gradually branching out
Also, take notes. Jot down the successful trades, and what you done, why and when. Do the same for the shitty trades - ask yourself what went wrong and why?
Over a period of time you will notice the errors that need eradicating, you will notice what works for you. This is a vital step towards success
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Agree with letiss. The horses can make you think you are missing out on something with all the flashing lights, but 10 ticks on football is the same as 10 ticks on horses if you know your football.