Help For Newbies

We were all new to Bet Angel once. Ask any question you like here and fellow forum members promise not to laugh. Betfair trading made simple.
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dawlish
Posts: 17
Joined: Tue May 07, 2013 8:33 am

Hello
I have posted my Saturday profit - Loss account from Betfair - this is purely to urge the newer traders amongst the Forum to keep going, if you do things the correct way you will get better. I have been trading full time for approx 6months and while I admit to not being the greatest trader I am getting better.

Practice does not make you perfect (nobody is) but correct practice makes you better.
I average about 3hours trading a day and as I'm a relative newbie I know what it's like to be scared or apprehensive in your approach to trading - if any Newbies want to know the 5 most important steps I use, let me know.
:roll:
Regards
Dawlish
11-5-2013 - pl.jpg
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6thSense
Bet Angel
Bet Angel
Posts: 375
Joined: Fri Nov 30, 2012 5:02 pm

Your image did not attach.

Likely to be because it is too large. Max size is 1Mb for attachments.
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dawlish
Posts: 17
Joined: Tue May 07, 2013 8:33 am

Sorry - will try again

Dawlish
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dawlish
Posts: 17
Joined: Tue May 07, 2013 8:33 am

Hello Again
This should be okay now
My PL Account 11th May.jpg

Regards

Dawlish :roll:
You do not have the required permissions to view the files attached to this post.
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WinLoseWinWin
Posts: 17
Joined: Sat Dec 29, 2012 11:41 pm

Thanks Dawlish
Is that an average day or a good day?
My problem is that I can have a string of good days where I might make £50 to £100 a day, but then I tend to lose it all in one or two bad days.
At that stage I get despondent and give up, and then come back a few weeks later with a new strategy.
At the end of the day though, while I would like to make a nice profit from this, I also enjoy the hobby and the challenge and as long as I am breaking even I'm not too concerned.
Thanks
Richard
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redtra
Posts: 189
Joined: Fri Feb 08, 2013 6:27 pm

Thanks for posting that Dawlish, it's good to see that it is possible to make a profit and it looks as though you are doing well. I notice from the trades you show a trade in each consecutive race, would you be selecting the favourite in all of these or have you an upper odds limit. You are obviously choosing your selections very well so yes I would love to know your 5 ipmortant steps!
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dawlish
Posts: 17
Joined: Tue May 07, 2013 8:33 am

Nice to see the private messages received and the nice attitude of the people wanting to trade properly, we all have to start and that journey is bumpy but if you ride it sensibly you will get to the end.

Regards
Dawish :) :)
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Seymour
Posts: 40
Joined: Sun Aug 12, 2012 6:33 pm

Good to see a relatively new trader making a point of helping beginners. Outstanding P/L Dawlish. Not one red figure! Keep us posted.

regards
Jon
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Tradertrician
Posts: 27
Joined: Mon May 20, 2013 7:15 am

Hi guys, first post here, so complete newbie!

Have to say that's very impressive and also very inspiring to a newbie like myself!

How long have you been trading overall?

I would love to hear your 5 most important steps you use.

Kind Regards
Paul
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maxtgr
Posts: 2
Joined: Mon Jun 10, 2013 1:25 pm

Hi everyone,

I am gathering all ave liable information at the moment to get in to trading with BetAngel. I saw all the videos that peter posted and 3 hours ago i started browsing this forum. It all looks promising and with this post, thanx man, i have decided.

I will be back with my progress but until then i would like you dawlish to pm me your 5 steps. :D

Thank you in advance!!
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maxtgr
Posts: 2
Joined: Mon Jun 10, 2013 1:25 pm

Thanx for your pm with your 5 advice!! i will put them in effect for an extencive period!

Thanx again!
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Zenyatta
Posts: 1143
Joined: Thu Mar 11, 2010 4:17 pm

Well done. Anyone who can do this is a lot smarter and better informed than I am thats for sure.

After 3 years of trying to do the horses prerace, however (often trading for 4 hours per day, every day for months at a time), I was still chucking money away as fast at the end, as I was at the beginning. That is, I never achieved any improvement whatsoever. If anything, I even went backwards.

90% of people who try will never win, no matter how hard or long they try. The bottom line is that the UK horse-racing trading pre-race is just beyond the cognitive abilities of most folks.
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convoysur-2
Posts: 1110
Joined: Thu Jan 12, 2012 10:00 am

Hi Zenyatta.
i understand your frustration ,i 2 am doing this for 3 years and some day ill post up here the hardships i endured to stay at it,i am not in profit and im a very long way from being in profit,yesterday i tried to work out how many hours and how much money i have put into this,
ive lost around 16.000 euros ,and put in aprox 6.500 hours ,
but im so close i cant stop now.i cant walk away.in the words of brian tracy.
(often your greatest acheviement is just one step past what you thought was your greatest failure)
your right about the 90% not making it,but 90% are not prepared to put in what it takes,
i hope the light bulb comes on for you and you get your money back,but if you have given up then i guess that will never happen.
from beautifull galway city,
Marc
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Zenyatta
Posts: 1143
Joined: Thu Mar 11, 2010 4:17 pm

convoysur-2 wrote: ive lost around 16.000 euros ,and put in aprox 6.500 hours , but im so close i cant stop now.i cant walk away.
Well this is the 'sunk cost fallacy', the idea that since you already put so more effort in, you've got to keep going. No, that is only going to lead to even more losses.

I've given up on manual trading, but I still think an automated system might work for me. The automation doesn't lose me much money, it is only when I try to trade manually that it all turns to custard.

As Jeff once remarked, 'spread-sheets don't suffer from greed or fear'. So automation can be a viable option for us guys who can't do it manually.
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convoysur-2
Posts: 1110
Joined: Thu Jan 12, 2012 10:00 am

i suck at excel also lol.....
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