Just starting out

[Tom246289]

So I’ve literally just found out about Betfair trading a few days ago and It immediately caught my interest! I’ve been watching loads of videos and reading tutorials before I get started. One thing I wasn’t to know is in layman’s terms if I lay a bet do I want the odds to rise to make a profit and if I back a selection do I want the odds to drop to profit? I need to get my head around this stuff before I get onto betangel

[Dallas]

Yes, when laying you want the price to rise (drift)
When backing you want them to fall (shorten/steam in)

And welcome to the forum and the start of your trading journey

[Tom246289]

So as a example this would be a successful trade

[wearthefoxhat]

So I’ve literally just found out about Betfair trading a few days ago and It immediately caught my interest! I’ve been watching loads of videos and reading tutorials before I get started. One thing I wasn’t to know is in layman’s terms if I lay a bet do I want the odds to rise to make a profit and if I back a selection do I want the odds to drop to profit? I need to get my head around this stuff before I get onto betangel

Hi CaanB,

Welcome to the forum.

The poster JollyGreen has some nice posts worth reading. This one is worth having a look.

viewtopic.php?f=5&t=9752&hilit=new+trader

[Tom246289]

Thanks I’m just starting off with really small amounts till I know what I’m doing it’s the lay out of the ladder what I’m finding confusing I’m just using my mobile at the minute till I get confident and purchase Bet Angel. Here is another example of a bet which I think I’ve hedged correctly but that was just by pressing the trade button.

[Dallas]

You can take a 14 day free trial of Bet Angel which will allow you to try out everything within the software including ladders

And yes that was also a successful trade as the price rose after you layed it

[Tom246289]

Ah cool, does bet angel have a similar trade button that hedges for you or like places the back bet for you ? Or is it as simple as just placing the second bet when the odds have moved in your favour or just to cut a loss ?

[Dallas]

Ah cool, does bet angel have a similar trade button that hedges for you or like places the back bet for you ? Or is it as simple as just placing the second bet when the odds have moved in your favour or just to cut a loss ?

Yes, there is a button green/hedge all positions at once or you can green up individual selections
The following post explains everything in detail
viewtopic.php?f=47&t=11572

[Tom246289]

Ah cool, does bet angel have a similar trade button that hedges for you or like places the back bet for you ? Or is it as simple as just placing the second bet when the odds have moved in your favour or just to cut a loss ?

Yes, there is a button green/hedge all positions at once or you can green up individual selections
The following post explains everything in detail
viewtopic.php?f=47&t=11572

Thanks for all the help I’ll give it a read. I can’t wait till I get my head round the ladder so I can start learning about markets and techniques!