It would be great to make £50 a go but i imagine this might need more than a couple hundred pounds in the account, if using say easy methods of making a profit.
If i was pleased with an amount such as £10 approx - £20 for example. How much can you guess i might need to have in account to make this happen. Thanks forum.
If you think that a certain strategy is best suited for this please note the strategy also. Im about to purchase betangel i think as im gettting really into this trading business with betfair. Ive seen vids so far on scalping, dutching, greening, swings, ladder, liquidity, low risk trades etc. Ive plenty more vids to watch.
So, for £10-20 how much might i need in account you think please? Does any strategy pop to mind that you think i should consider with this amount of bankroll.
Thx
Might £200 in account be enough? Can i even start building my gains with say less than £100 in account?
How big does my bankroll need to be to make smal profits pls
Hello
welcome to our interest in trading. Trading is a good way to make profits, much better than conventional betting down at the bookies. But let me warn you it doesnt matter how big your bankroll is, it is all down to you the trader. Yes a certain amount of bankroll will bring you a certain amount of profit but it is down to how you deal with mobney management of that bankroll and your strategy you use, no one on this forum will share a workable strategy with you as all on here had to dig deep lose a bit of doh (pay to learn) before being profitable. Another tip i can give you is dont work on monatary funds work on a relistic percentage of your bankroll, if you have a say £200 bank roll and you want to say turn over £30 in 6 days you have to make 2.5% daily for 6 days when you trade dicipline also plays a big part, when i get to my percentage goal i turn the PC off hand over to the wife to do her emails and go off to my daytime activities, so to do what you require i would say about £2000
Alot more experienced traders can make alot more with that bankroll, but if you are just starting out i wouldnt put that amount in but with a £200 bankroll it would be pretty hard for a newbie to make £50 a shot, you would have to take some excessive risks to do it and there is a 90% chance you will blow the lot
welcome to our interest in trading. Trading is a good way to make profits, much better than conventional betting down at the bookies. But let me warn you it doesnt matter how big your bankroll is, it is all down to you the trader. Yes a certain amount of bankroll will bring you a certain amount of profit but it is down to how you deal with mobney management of that bankroll and your strategy you use, no one on this forum will share a workable strategy with you as all on here had to dig deep lose a bit of doh (pay to learn) before being profitable. Another tip i can give you is dont work on monatary funds work on a relistic percentage of your bankroll, if you have a say £200 bank roll and you want to say turn over £30 in 6 days you have to make 2.5% daily for 6 days when you trade dicipline also plays a big part, when i get to my percentage goal i turn the PC off hand over to the wife to do her emails and go off to my daytime activities, so to do what you require i would say about £2000
Alot more experienced traders can make alot more with that bankroll, but if you are just starting out i wouldnt put that amount in but with a £200 bankroll it would be pretty hard for a newbie to make £50 a shot, you would have to take some excessive risks to do it and there is a 90% chance you will blow the lot
I'm no expert, but my advice would be to use minimum stakes and find a trading style that suits you and then keep practicing, its a bumpy road, and when using smaller stakes the trades which don't work out are'nt so painful, probably the most important factor with trading is keeping disciplined. My personal opinion would be to try to become proficient at your chosen trading style first before setting a profit target. It would be worthwhile attending one of Peter Webbs courses if you can, it will point you in the right direction and give you realistic expectations.
Let me amend that, after looking at a couple of money management teqniques you would have to have a minimum of £1000, risking say between 5-50% position sizes (stakes) of it on trades acording to the odds your tradingAlpha322 wrote:Hello
i would say about £2000
1. Practice
2. Practice
3. practice
If you are going to buy BA then remember it is a tool. It wont make you profits. You make those through hard work and effort. Learn how the markets work, how they move, how weight of money influences, what works pre off and in running.
Dont expect strategies that have been developed through hours of effort to be posted. Traders are working against other traders to make their profits.
Start with min stakes and expect to lose at first.
Good luck
2. Practice
3. practice
If you are going to buy BA then remember it is a tool. It wont make you profits. You make those through hard work and effort. Learn how the markets work, how they move, how weight of money influences, what works pre off and in running.
Dont expect strategies that have been developed through hours of effort to be posted. Traders are working against other traders to make their profits.
Start with min stakes and expect to lose at first.
Good luck
Hi
There is an old post on Peter's blog where he started with a tenner (I think!)..worth a look if you can find it..It illustrates that you dont need a large bank.
The secret is to try and turn and re use your stake as much as possible.
Even with a tiny bank of say 300, you could churn it through a market 10 times..it all ads up during the course of a month
Regards
Peter
There is an old post on Peter's blog where he started with a tenner (I think!)..worth a look if you can find it..It illustrates that you dont need a large bank.
The secret is to try and turn and re use your stake as much as possible.
Even with a tiny bank of say 300, you could churn it through a market 10 times..it all ads up during the course of a month
Regards
Peter
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BetTradeMan
- Posts: 5
- Joined: Tue Jun 19, 2012 7:37 am
Thank you all to those that replied. I shall read again them posts to decide on what i should do. I think i need to find a blog of someones that was mentioned also, thanks for writing this in your post. Im curious about a course someone mentinoed to, just curious. Will try and find out more on this. Helpful advice from most if not all of them posts in response to my question.
After looking at some videos from the betangel youtube channel and some other channels i have come across different ways of how u can trade in betfair. I agree to that its not a case of using these techniques but applying them correctly/efficiently to. If this means practice with small amounts this i am happy to do. Really nice advice again thanks everyone
.
If anyone would like to add a further comment/post to this topic/thread then please do and i would be eager to read them soon as i have the time to.
Ty v.much again BA forum
After looking at some videos from the betangel youtube channel and some other channels i have come across different ways of how u can trade in betfair. I agree to that its not a case of using these techniques but applying them correctly/efficiently to. If this means practice with small amounts this i am happy to do. Really nice advice again thanks everyone
.If anyone would like to add a further comment/post to this topic/thread then please do and i would be eager to read them soon as i have the time to.
Ty v.much again BA forum
-
BetTradeMan
- Posts: 5
- Joined: Tue Jun 19, 2012 7:37 am
I was wandering if anyone knows roughly when the blog might of been poblished as im going through the archive and there is alot on there, which is great might i add cos im coming across some great blogs.
Anyone know by chance when the blog might of been uploaded roughly eg year? time of year? That has to do with having a small amount of cash in acount and trading with. As this thread explains me wandering whether anm account of say £200 would be an ok number to try and get small profits from.
Im getting closer to the day when i either get a month sub for £15 or 7 day trial
. Which ill eventually go into a longer subscription im hypothesising.
Anyone know by chance when the blog might of been uploaded roughly eg year? time of year? That has to do with having a small amount of cash in acount and trading with. As this thread explains me wandering whether anm account of say £200 would be an ok number to try and get small profits from.
Im getting closer to the day when i either get a month sub for £15 or 7 day trial
. Which ill eventually go into a longer subscription im hypothesising.If you have an edge, then a small bank (even a very small bank) will grow significantly over a large number of trades (and bear in mind that you can execute a large number of trades over a short period of time on Betfair). You can demonstrate that using a spreadsheet like that attached.
As for how fast your bank will grow, that is an unknowable. It depends on the size of your edge (if you have one). But if you do have an edge, I really wouldn't worry about how quickly your bank will grow, as you will soon reach a point where you are making very good money and hit a liquidity barrier (should you decide to take things to the max). But that is a big if. I'd start out with a very small bank, using minimum stakes, and build from there if you have an edge.
Jeff
As for how fast your bank will grow, that is an unknowable. It depends on the size of your edge (if you have one). But if you do have an edge, I really wouldn't worry about how quickly your bank will grow, as you will soon reach a point where you are making very good money and hit a liquidity barrier (should you decide to take things to the max). But that is a big if.
I'd start out with a very small bank, using minimum stakes, and build from there if you have an edge.Jeff
You do not have the required permissions to view the files attached to this post.
Here is the blog post that was referred to earlier in the thread.
http://www.betangel.com/blog_wp/2009/09 ... -turnover/
http://www.betangel.com/blog_wp/2009/09 ... -turnover/
Peter
It was the Ten Pound Trader blog entry that i was referring to rather than the Return on turnover:-
http://www.betangel.com/blog_wp/tag/ten-pound-trader/
...Question is..Three years down the line, would it display the same characteristics!
It was the Ten Pound Trader blog entry that i was referring to rather than the Return on turnover:-
http://www.betangel.com/blog_wp/tag/ten-pound-trader/
...Question is..Three years down the line, would it display the same characteristics!
After ascot it out of the way maybe I should try again and see what happens. My strategies have become more distinct in the last few years. I can run several at once and all will work but to varying degrees depending on the underlying markets. I know which are the best, but also some are pretty simple but yield lower returns. I could pick on any.