The internet is littered with hundreds of systems and ideas of how to trade on betfair, yet they nearly all have one thing in common. The starting amounts that these trading ideas start with is nearly always a huge sum of money, on average they quote figures like £1000 or more. I find it strange that we would start doing something or following other peoples ideas and throwing away a large amount of money like that.
Now I would like to make one thing clear- this article is here to help you along and not leading you to buy any wonder system at the end, you know the type £49 this week and buy it quick before the prices go up.
I am genuinely only offering my advice on trading betfair with a small bank, which currently stands at £27.11 after a good few days.
My advice to anybody starting out on betfair is to-
- Start off slowly, only trade with money you can afford to lose.
- Do your research- there are a number of forums, blogs and endless videos on youtube, all there to show us on our way to an exciting betfair journey.
- Be patient - understand that it wont happen over night.
- Don't try to run before you can walk- expecting a £50 return per day from a £50 trading bank is not going to happen, but on the other hand keep accepting the little profits often as the money makes itself available, as they will build up.
- Maintain yor focus- mine is freedom, relaxed life and no money worries.
- Similar to all of the above have realistic expectations.
The list above is my idea of how to start off betfair trading as I have been through a lot of boom and bust cycles with my betfair balance, its been quite high and also very low, at the moment I am trying to recover it to make it a full time income by trading on betfair. I am only trading pre race horse races at the moment as this is where I am familiar, but as time goes by and my balance increases I will be trying out new sports including football, tennis and cricket.