I'm completely new to the idea of trading and only started betting/matched betting a few weeks ago, so please forgive what is probably a daft question.
I feel rather overwhelmed by the whole subject and unfortunately learn best by experiencing, so after some reading I have just had to go for it to see if I understood anything I had seen.
I spent the afternoon watching some of the videos on the training and practicing with the software in practice mode. I then went for it live with small £0.10 (not sure whether they are called trades or bets now)? This is what my Bet Angel Log said I did:
I edited out the bits that were done by the software automatically so it was easier to see my actions. I was trying to implant several things I had seen, things like the money being balanced either side and the charts showing fluctuating odds.19:57:38: Market changed to Wolverhampton 30th Mar - 20:30 1m Class Stks
19:58:07: £ 0.10 Back bet placed on Non Mollare at 3.65. Entirely unmatched when it initially reached the market. Ref: 301509633845
19:58:08: £ 0.10 Lay bet placed on Non Mollare at 3.6. Entirely unmatched when it initially reached the market. Ref: 301509635755
20:03:37: £ 0.10 Back bet placed on Non Mollare at 3.7. Entirely unmatched when it initially reached the market. Ref: 301510060529
20:03:38: £ 0.10 Lay bet placed on Non Mollare at 3.65. Entirely unmatched when it initially reached the market. Ref: 301510061644
20:05:31: £ 0.10 Back bet placed on Non Mollare at 3.75. Entirely unmatched when it initially reached the market. Ref: 301510184390
20:05:33: £ 0.10 Lay bet placed on Non Mollare at 3.7. Entirely unmatched when it initially reached the market. Ref: 301510185494
20:15:31: £ 0.10 Back bet placed on Non Mollare at 3.8. Entirely unmatched when it initially reached the market. Ref: 301510789672
20:15:32: £ 0.10 Lay bet placed on Non Mollare at 3.75. Entirely unmatched when it initially reached the market. Ref: 301510791032
The horse won, and I ended up with £0.02 more in my account.
Am I correct in my understanding that if the horse had lost I would not have won any money, but I would not have lost anything either?
Is this strategy ok to start with? Or have I misunderstood something fundamental?
Sorry for the very long post.
Many thanks for anyone who offers their wisdom on this.
