Is anyone making any money from this software???

[morse]

Hi,

I trade now and then forex and on trial with bet angel, but i cant seem to make a decent profit the risk reward ratio is very poor compared to Forex and alike. I am not convinced the purpose of the software all very nice graphs etc etc but no real point!

[morse]

Seems not! I have had 25 views and not one person has said they have!

[netanel83]

well i do actually.
and there's more like me i guess they jest don't say that.

[Cran]

I do, but I haven't replied as I know nothing about forex markets so I can't really compare them.

In the pre race horses you only have about 10 minutes trading and you get different markets within that 10 mins because of the combination of traders, gamblers, owners, trainers, high street bookies, on track bookies, all coming in at different times with different objectives, then there are inplay traders opening trades pre race. Also you have the overround meaning that you can't have one runner changing price without others changing etc.

It's profitable but only once you learn how to trade it and avoid the multitude of ways to make losses and/or blow your bank.

The graphs are useful, but I'm not convinced by the candlesticks, imo you can see just as much from the line charts and the flashing traded odds colours. The market moves too quickly and has too many changing influences for candlestick patterns to be any more helpful than the gradient of a line chart.

If you want a slower market you could try inplay football, tennis, cricket, golf, rugby, F1 etc.

But again, you need to learn the market to be able to make money.

If you want software that does the trading for you you should be looking for a bot.

Hope that helps.

[Bet Angel]

It may be because you have only trialled the software, it's unlikely you have had enough time to adjust to the markets. If you are a forex trader then you should be able to do better than most so the fact you appear to indicate you can't adjust must be related to the style you are applying to the market. There are tons of very successful traders out there.

Peter is about to start a blog with just £10 and build out from there to show everybody its not just the big players with big banks that can succeed. One thing that catches out financial market types are that all prices on sports markets are related and don't act independently of one another.

[Point2Point]

You can buy at the sell price and sell at the buy price and there are no transaction costs. Better than forex IMHO!

[jimrobo]

not a fan of forex at all! Its just so untransparent owing to the nature of the market! You ask for a price and get filled 5 pips away!

Also depends on your trading style. You have to trawl through charts to get a set up and watch for hours for it to trigger. Anythng that doesn't go with the trade plan is out and you have to start again. Betfair is completely different. I might make several hundred trades a day. I can do that because there are no transaction costs. If you are a succesful forex trader you don't even need to think about trading betfair as a succesful forex trader can make a lot more than a succesful sports trader.

[Quinny]

If you want an honest answer... the grammar in the first sentence was so ambiguous I switched off.

I am not criticising per se, honestly, gawd knows I am not the most literate, but I read so many posts around diffrent forums (forums???) that I think it is easy to lose people's attention quickly if you're not careful.

Anyway...

Risk and reward ratio is always always determined by knowledge.

[Predicton]

Not me (I lose money slower doing win bets)but it's good fun to use,

cheers, P

[lilgreenback]

Hi there I wish I was making more than I have lost. And I have lost a lot more than I have won.

Hindsight is a wonderful thing; my advice for what it is worth would be to go on one of the courses offered and recommended by other forum users (so you should not be ripped off).

I wish I had gone and done that; I would have probably still lost cash but lost less and be in a stronger position to gain back some of the losses.

This system of gaming/trading is a bit like pandoras box once open you can see the potential and you will keep going back, to try it. Once things start to work it gives you a real feeling of success (even if you are only clearing a couple of quid on a trade) Profit is Profit.

The other thing is that a straight win or lay bet never looks quite as attractive when you know you could close out the risk or lessen it or even WIN WITH NO RISK, the Holy Grail.

It would pay to trawl the forum and collect the positive pearls from those contribitors who have taken time to help people out. And more importantly listen to the things they say as they will try to ease the pain of losses and speed your understanding.

Mind you A.F.A.H.M.I.E.P (a fool and his money is easily parted

Yes I'm also the dumb ass who let it go in play after saying you wouldn't. So it pays to be careful and stick to the rules you set yourself.

Stay Lucky

LilGB

[Michal]

Peter is about to start a blog with just £10 and build out from there to show everybody its not just the big players with big banks that can succeed.

Did Peter Webb made this £10 challenge? I could not find anything about it on Peter's blog but would be interested to see.

[herbie]

have a look at this

http://www.betangel.com/blog_wp/2013/10 ... till-work/

[Michal]

Yes I read that some months ago but there is no data other than line chart. Peter wrote there :
''I’ll present the data from this a bit later to my visitors and show them the underlying detail, I’m pretty sure none will be able to argue with the logic''

I could not find anything on forum

[LinusP]

Yes I read that some months ago but there is no data other than line chart. Peter wrote there :
''I’ll present the data from this a bit later to my visitors and show them the underlying detail, I’m pretty sure none will be able to argue with the logic''

I could not find anything on forum

I believe Peter was referring to his course participants..

http://www.bettingexchangeacademy.com/