I’ve often asked the question, “How much can I make trading?”
But it’s a loaded question. If you are Betfair trading you really should be looking at the question from a different perspective.
Trading is seasonal, depending on the underlying sport you are trading, but it also requires you to think it terms of how many markets you are going to trade over what time period.
Thinking like that will allow you to reduce your risk, but hit some bigger targets that you have in mind.
Trying to chase down a specific monetary target, will most likely lead you to take on too much risk as just the wrong moment.
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Basically micro trading?
Are you using a stop loss in this strategy?
12-20: THAT is the crux of the matter…
9-42: Basically, this is where I've been going wrong for a few years (I'm a slow learner/don't give up easily!) Rather than accept making £1-00. 50,000 times, I want to make £10.00. 5,000 times (had a couple of beers, so not sure if the maths is correct! LOL) I think the biggest problem with beginner traders, is that we don't have the TIME to put into the business. We have a 'real' job and fit trading into the 'off' time we can spare. Thus, the returns seem puny…
Wise advice sir.
Can you please explain how to measure the amount of profit available in a race occuring on the next day given the characteristics?
Great advice. I naturally used PL as a measure of the success of strategies.
Not as a goal.
Bit like a tape measure used in dieting. If you are getting a smaller waist on the measure the diet must be working
Great Video and comment stream. Thank you Peter. I'm toying with the idea of automating all my edges so my time is free to being doing more data and result analysis and well as edge hunting. My main motivation is that i live in SE Asia while trading in Aus and UK markets. The time zones play havoc my ability to trade in real time and still have a life. I notice that in a lot of your Video's you indicate that you still manually trade some markets. Do you do this out of necessity, habit or because you enjoy manual trading? Are you aware of any impediment to fully automating day to day trading?
Whats the automation strategy and how long did it take to make that 60-70k ? Bankroll required for that ?
Thanks for all videos, they are very instructive especially for having the right approach and not chasing false hopes. I have a question:
How do you make 50,000 trades in a year? Is it essential to automate your strategies?
There's not a single winner at the gamblers anonymous meetings that I attend . Every single person at these meetings is a loser
Does anyone know if there's gamblers anonymous meetings where I can listen to winners .
I've been to hundreds of meetings up and down the country and the stories are depressing .If you know of any gamblers anonymous meetings where winners go .I would like to go they might cheer me up.
I've asked everyone and No one knows of a single meeting where winners go .If you are a winner maybe you could start a gamblers anonymous group meeting for winners
Yeah but the premium charges are really messed up. I'd rather make over 100k with stocks or foreign exchange.
I actually make more than £100,000 a year from gambling. But I’m no happier than I would be if I was making 30,000 a year.🐦
sir where is the game hilo game id is 1444093 in betfair exchange please send url
Is there anyone here that actually profits from automated betting? Any thoughts on other software?
im new here
how can i make 100,000 fast
£100,000 per year?, I doubt it……
what a pile of fucking bullshit
Can you give me an example of what you bet on please and how much the stake is? I mostly bet on football
hey Peter, great stuff listening to you! To a complete newbie its a real eye opener into this world! Wondering if you have any plans to do videos on sports arbing ? I noticed a few days back a SP price difference between a betfair Back price and a Bet365 Back price (1.6 and 1.5 respectively). My brain cant work out how to go about it, but my instinct tells me that thats a potential profit situaton? Thanks for any help, and keep up the great videos!
Hi Peter, I'm not sure of the meaning of the word 'support'. I was watching a tutorial last week and the person said that the favourite had little support (£172k had been traded on it) and then he said there was some support for the second and a little bit for the third (which both had far less traded on them). What does this mean exactly?
Look after the pennies and the pounds will look after themselves.
I look for a market that has regular behaviour that lends itself to a strategy I like, then learn to trade it with tiny amounts and iron out the pitfalls and bad temptations. When I have a good few hundred trades with consistent monthly profit then start the scaling up process and see how far you can take it without undue increase in risk. There is a natural ceiling in each market, especially tiny ones. When you reach that, just be happy with your monthly swag, get the trading to second nature and move on to find another market. Learn to use BetAngel to keep more payers in play without spending too much time on them, leaving you free to concentrate on the higher payers.
As you say, ignoring the P&L during trading is a simple but effective way to approach the daily grind. Plenty of time to review and the end of the day.
The times of the year for football and horse racing combine well for all year round sports, add in the Wimbledon tennis competition, cricket world cup, football world cup..plenty to get to stuck in to.
Its easy to say: all you need to do is bet in 50.000 markets a year and make a profit "only" of £2 on each 🙂
My question is this: WIll there be a pattern to spot in each of those markets to make £2 every time?
Coz if there is no pattern there is no trade (unless you want to force market but it never ends up well)
Its a great concept in general i even like very much however decreasing stake will not improve strike rate which is the key here, unless…again, there is a pattern. You could have had 100 races today but if there was no pattern you wouldnt have made a single penny.