Riding the trends

I've been thinking about trading and in particular my style -scalping that is, since the betfair education event, being able to look a bit further into a trend and trying to have a better over view than trying to back the lay price and lay the back price only to get out one tick later, or I could successfully scalp a race three times over only to find the market has moved 5-6 or more ticks in the direction I scalped and obviously I could of had a much greater profit if only I would of been a bit more aware of the situation and looked further than the end of my nose.

My own trading is taking a back seat at the moment as even though its half term at college, I have proper been bombed out with course work to get on with over Easter. That said I will try and put into practice what I have just mentioned above and will report back on my progress in due course.

Psychology of trading - Betfair trading

 Excellent short video from Peter Webb of Bet Angel, click here for more info

Education experience

View from the dug out

I attended a Betfair education event todayy at Old Trafford, I arrived at approx 1200 nice arrival and met the trainers, I got a coffee whilst we settled in got the formalities out of the way, quickly we was into trading and what betfair was about as there was quite a few newbies in the room, but I liked the relaxed atmosphere and found it easy to join the discussion with the instructors and the rest of the group, I did learn one thing in particular which was the 'payout' function on the betfair site, following the first session was lunch nom, nom, nom well done to Man Utd catering, then back for the second half and another chat with a full time trader, very good information and a nice insight into how he does his 'business', with time pushing on we went through some further examples on how to make money on betfair and a bit of cold trading.
A stadium tour of the Theatre of Dreams summed up the afternoon and on return to our trading room we a free bar waiting for us to the afternoons event over a cold one.

I really enjoyed the day being able to speak to with other gamblers, traders, backers, layers and a poker player as it was a good social event also, but being able to speak to the trainers at the end was also great and they were really helpful on any questions we had.

Good day out.

Look forward to the next one.

Jensen apologizes

I watch the F1 this morning and again at the same time I monitored the drivers championship market, there was really any massive moves as such, but Vettel has now gone out to 4's and I know its only the second race of the season, saying that I remember that Alonso came in from 19 to around 12 at the moment, I am sure as the season develops the odds swing wont be as great but for those still in contention it will obviously mean movement in odds, I will be on the next race by scalping the above market but without hedging and just try to scalp one driver at time as I see some movement. Fantastic drive from Perez and I wouldn't want to test his or his teams integrity but why was he warned towards the end when he was only 0.6 secs behind Alonso to 'not take any risks' now by risks do they mean engine customer over taking the engine supplier? Or was I looking at it wrong?

Man City drawing saw them go out to 3's on betfair, but depending on the result at Old Trafford will see the odds go one way or another, have a look at it for your own experience as its a market that moves on goals but it wont suspend when a goal goes in.

Good luck

Betfair Minimum Stake

Busy Busy Busy

Good weekend of football and horse racing, looking forward to the second F1 race of the season, going to have another look at the Overall championship winners market throughout the weekend as I suspect it will move much like the Premier league winners market, for example Jensen Buttons odds halved last week on the back of one race win and with Hamilton's outburst I wonder if his head is really there to win it. I see the Olympic kit was revealed this week, where has the Union Jack gone?

Anyway I'm rambling now so end of post, see ya.

Everyday is a school day

Proverb

Every day is a school day

1. You learn something new every day.

At least it is for me as I have been invited to a Betfair Education event at Old Trafford next Tuesday afternoon, I am looking for to it and hopefully might even learn something. When I received my email this morning, I thought I would have look around at the Betfair Education site, I must say it looks quite good and seems to have had a bit of update, especially the psychology of gambling article and something I could do with improving.

You must be mental

I have had a question put to me today asking me what books I have read to allow me to sports trader, most are betting or trading books like Pete Norsted or Trading for dummies, but there is so much to be found on the internet in different sites from forums, youtube, trading sites and other blogs. 

But for all the info they offer in terms of advice and strategies, none are more important than books that help you develop your mind and allow it to grow and use it to its full potential, if only limitless was in real life. 

Premier league winners

I have touched on trading the premier league winners market before ( I think the principle is the same as what Pete Nordsted mentions in his book with reference to tennis tournaments) any I see now that there has been a switch in the last two weeks on betfair with both teams from Manchester trading places at the top, Man Utd now priced at 1.51 and Man City priced at 3's, I bet many a more experienced trader would have been on it and backed or payed with the trend on City or Utd, nothing from me though but earlier in the season when City had a blip
I scalped them for a result of £1.41 on any team. Something for the future as I can see the amounts matched are in the millions.

Day Number- I cant remember

Seems like a while a go now when I was following a daily plan with a vision of turning my small deposit into £5000 or £10,000 in a 163 days, I am sure its possible and achievable out there. A quote from the blogger of the moment Cassini is keeping adding small amounts of profit and we'll keep the bank growing and only withdraw when you need something from it, looking further into what he is saying and as his profile states by aiming for £500k to allow him to retire, I say go for it and I'm sure he can do it, so can I and so can anyone, good luck to you all.

I see it's not always me

Good you can get some transparency in the blogging world and show were not all about green screen after green screens, good honest post written by £500 to £5k, but a quick reality check and I'm sure he'll be back to his best. Wish words from the grand master Cassini as always.

On a personal note I am settled in my trading and doing enough to see my bank increase a little slightly with feeling like I'm up to my neck in it and can't cope, so ive re-written the mantra to little and often to read tiny and often. With this mindset I can see good times and know we will make it in the end.

Nags, Nags and more Nags

Trading football have got their nags chatroom open for free during chelt, why not give it sometime of time and they'll show you how to make some cash

Going going gun

Really nice feedback from a post from Gundulf on his blog 'Betfair football trading- the highs and lows!', good  tohear that people have opinions on trading, as you don't really get a lot in 'normal' life as it just gets looked upon as full-on gambling. I have let trading take a back seat at the moment and I am really try to keep my expectations realistic and trade with both feet on the ground, I don't to push myself into a hole where I find myself trading in overdrive and messing up, so to that end - its a case of logging in making a moderate %age (1%ish) and then logging out and evaluating myself and how I did and felt mentally during the session and seeing if there is anything I can learn from and take to the next time I trade.
On the subject of compounding I am compounding and if and that is a big if, I will make it to the amount advised by Pete Nordsted in his book (recently re-read) of £10,000 by June 2013, I am a positive person and know this is quite achievable by following plans. So including a moderate gain each day and I will 'top up' each month with income from my other online ventures and promise myself not to'blow it' and over do it and also to withdraw an amount each month and re-invest else where away from trading to spread my portfolio so to speak. After that it is to build the balance for the future/ deposit for a house and help pay off mortgage and holidays etc.

I will obviously keep you posted along the way with both the ups and down, as you know I am open to show off both sides of trading the positives and more important the negatives to learn from.

Live horse trading in the Nags Room

These guys have a great offer on this week

have a word with yourself

Something is missing

Don't know what it is at the moment and I can't put my finger on it, I seem to have lost my discipline, my drive, determination patience where trading is concerned, I feel like I am always rushing my trading bank to get it to some elusive figure that will bring a good return on my bank, I also believe I focus to much on targets, I feel like I am going through a re-learning curve because what I think or want to do before I sit down at the pc it all goes out of the window and this is the reason, why I have been yoyoing up and down around my current bank levels, story behind that is I will go several days/weeks making consistent moderate profits and then for some reason be prepared to through it all away to make an extra £1 or so. Seems strange like my bank has to end a day on a round number or if it's the last race of the day and I won't get another opportunity until the next day( sounds like a gamblers mindset).

I wont say that I have failed at sports trading but just re-evaluating the plan to one that does work for me, I have many that don't but perserverence will win in the end.

A radical change in my expectations is going to occur, a change in my focus by not looking to the next day or week.

This time next year rodders.......

First steps

I have just been reading some good guidance notes from the OU website, first steps when starting to study, but I felt that it was worth sharing as the end answer is a very similar one to trading/ well anything in life really-

Why should the first step be any harder than the other steps? Get a piece of paper and write down a few thoughts before reading any further.
Here are some answers to compare with yours.
X Before you can start you have to plan your journey, making difficult strategic decisions about how to travel and what route to take.
X You also have to make lots of routine preparations: looking up train times, making bookings, working out money arrangements, stopping the papers, packing, switching everything off and locking up the house.
X But perhaps the greatest difficulties are mental. You have to commit yourself. This is the day – there will be no more putting it off. And this is the journey, as opposed to other journeys you might have made instead. You have to let go of all other plans – of all those other things for which you could have used the time.
Even then you may take the first step with an uneasy feeling that you have forgotten something. Later, as you settle into a travel routine, you may come to see that many of your worries were unnecessary, but at that first moment you feel raw and vulnerable.




Seems that the key to all of our issues in trading and life in general is how we address them MENTALLY.

LAZY TRADER

Lazy trader here, I haven't really push the boat out in terms of trying to make my bank any bigger, I reckon if I carried on at this rate I would probably hit the betfair upper premium charge ceiling of £250,000 in about five years worth of compounding, so it would be worth it in the end, but apart from that I'm doing OK and it allows me more time to get my college work done in the evening.

Pot of gold

We all deserve a pot of gold, it's up to us to decide how big the pot is going to be, how quick are you going to fill and how are you going to full it?
Answer- by having a plan, following it through and sticking to it.

Staying lighter later

Getting home from work and finding that there is five races left to trade, well that's a bonus you could say, only downside was that they were 15 minutes apart but the markets weren't really that stagnant in the preceding 5 minutes before the action starts at 10 for most people, although I do find that when using such stakes as mine the don't upset the market and if you can see the market trend you can just join the ride for quite a few ticks of profit then just hedge it and your effectively up before you start that race. My bank of trading money is still leaving a bit to be desired but it is over £55 now, unlike the two times I have been trying to grow my trading bank this time I am not doing it in a hurry and I'm quiet committed to long term aspect, as in a little a time and it will get there in then, but when I get to be able to earn 1% of £10000 per day as in Pete Norsteds book 'mastering betfair' is sometime off yet.

Until next time, keep it green.

Be Very Aware

I received a spam comment today as follows-

hello, i am betfair full-time trader since 4 years and since short time i started to trade for customers with a ROI of 35% per month on average. If you are interested to join me or share trading views dont hesitate add me in msn ******************** or mail me in that adress. good luck


Came from a hotmail email address and I suggest if you a message similar you give it a good deleteing

Great expectations

Today has been GREAT for my trading by far I have lot less than most, but the is that yet again I was able to turn off the PC and not feel the need that I HAD to try and trade every single. I managed my mind well today too, taking moderate profits that are consistent with my trading bankroll. Not putting myself under pressure and not trying to compare myself to anybody either, I WILL make this work and I know it.

Hands up if you've heard of Darren

Seriously though I am talking of Darren Hall and his site Betting system notes, he has added some new strategies to his highly successful market matcher software that will show you exactly which strategy to apply to almost any football, for minimum risk and maximum return, Darren is always showing his profits of green screens on facebook and twitter, so I would suggest that you do the same and find out how he does it here.

On a run.....

Good run today only traded a handful of races made an OK profit, still going forward and staying positive, both in bank growth and also in mindset. Sticking to my plan of only trading for a maximum of one hour, the geeks toy isn't even loaded at the moment and in a minute the PC is going off so I can concentrate on some college work and focussing on other things away from trading.

Until next time, keep it green.

Best month of the year

Early days I know but it turns out that March has been my best month of this year to date. OK maybe a bit tongue in cheek but it looks good on the record but it looks good on the record books, lets hope the good run continues.