The 5 Stages To Betfair Trading

[chr1st0]

It will take time and lot's of mistakes along the way. It is taking losses and staying disciplined enough to keep them small and not to chase your losses that's hard. Never let an open trade go in play (Get Out!) for a small loss then try to win it back later.It is the only way to protect your betting bank. I have fallen foul to this many times and i have had to learn the hard way.

[george9]

im at step 1 of this trading lark, my god its not easy is it, ive been betting, backing and laying for many a year, but judging market movement is a minefield, if i could put in reverse what im doing id be quids in, but of course when you try that it still goes against you. one things for sure, all the videos out there are pretty much pointless apart from showing the main principles of trading, reality is no one is going to know which way the price is going to go, finding your own niche and then sticking to it with a stop loss in place is the only way i think, its finding that niche or edge which is the tricky bit of course, good luck to all my fellow newbies, we are going to need it.

[stemoz]

Trading

I started with £20 on Saturday and by 8 o clock last night I had a bank of £48. Then I had a couple go against me so my discipline went right out of the window, F****ng stupid I am.

[psychoff]

There must be more than 6 steps of trading...

I'm climbing, climbing, climbing, but still too far away from the top.

[MalcolmSm1th]

I started with £20 on Saturday and by 8 o clock last night I had a bank of £48. Then I had a couple go against me so my discipline went right out of the window, F****ng stupid I am.

That's being human not stupid.

The fact that you stood up and said as much means that you learned from your mistake, that you weren't disciplined.

All you have to do now (which is the bit where I am falling down at the moment) is learn to spot the same situation (that's easy) but not to repeat it (that's not).

Good fun this, though.

[george9]

its hard to spot your mistake if you dont really know what youve done wrong, the bloody price moves in ways that are so unpredictable that im no nearer to sussing this out than i was 2 weeks ago, at least with the stop loss employed and small stakes its not causing my bank to much pain.

[savrad]

its hard to spot your mistake if you dont really know what youve done wrong, the bloody price moves in ways that are so unpredictable that im no nearer to sussing this out than i was 2 weeks ago, at least with the stop loss employed and small stakes its not causing my bank to much pain.

Which is one of the basic principles of trading! Preserve your capital

[Fearthainn]

I remember coming across this info a long time ago. I just came across it again by accident, but I am happy to report that I am now in step 5, having started trading on BF around 3 years ago.

3 years, yep - it takes a long time. Start small, I am happy I was sensible enough not to go in with 500 Euros when starting. But you must still expect to invest before you see the returns. Invest money, time, mental sanity... Most of this time was spent trying to reach step 3 by the way. When you get there, the final two will come inevitably, because discipline and good management is the key. It's very rewarding when you finally realise you're "there".

And it does get boring, sometimes I wish I was back to step 1

I'm not a Betfair forum star though

[milivoje]

i cannot say for my self in which step i am..now i have been consistent for 3 months, started with 20euros now am around 180..ofcouse little ups little downs, i can say sometimes i have a feeling of great power when i make nice money, and when ilose some i feel like a noob hehe but i know this is just one more step in the way. i feel like i am somewhere at number 4 But i can say sometimes it feels like its the easiest thing to do and sometimes like its the hardest It takes nerves of steel, but i think i am on my way to nice profits, well see

[Paolo]

There must be more than 6 steps of trading...

I'm climbing, climbing, climbing, but still too far away from the top.

No, I disagree with you. Step 5 is the top. Everything is right in the article, I went from the 1st step to the 5th. I'm auto-trader, I don't think, I feel market.

[Morgans Choice]

No, I disagree with you. Step 5 is the top. Everything is right in the article, I went from the 1st step to the 5th. I'm auto-trader, I don't think, I feel market.

Hi Gents,

it's probably worth pointing out that, some people may be unable to reach stage 5. I include myself in that category, after six years trading I have been unable to progress beyond stage 4. The markets are still a jumble of information, on the rare occasions I decide to try and "read" them, I get mauled. It's not a big deal to me, I get pleasure out of analysing and then producing an appropriate method,

cheers, MC

[bazbaz]

I'm climbing, climbing, climbing, but still too far away from the top.

Cordoba,
Distant and lonely

Black pony, full moon
Olives in my saddle bag
As well as I know the roads
I will never reach Cordoba

Over the hills
Through the winds
Death keeps watch on me
From Cordoba's towers

Ah, such a long way to go!
Ah, my spirited pony!
But Death awaits me
Before I ever reach Cordoba

Cordoba,
Distant and lonely

[guernseyw]

most definately stuck @ 2

built up a comfortable bank ( for me anyway) only to go OTT on the cricket (20/20) and golf (pga)yesterday and lose 1/3rd of it

just gave myself a good talking to and quite happy increasing my bank 1- 1 1/2% each time

like they say it's not a sprint ,

BUT why does your mindset change when you've got a very comfortable bank to work with ( turn £30 into £378 in 10 days grabbing £2's ere £3's there with odd couple i fancied winning £30 )

back to my drawing board with 250 to start the week off

g/luck ppl hope ya all have a profitable time

[sagatz]

I actually think about two things when someone of the real traders here say something like that : "I feel trade" - the first one is, those many people who all the time told me i'm crazy and stupid gambler, and this is not possible to "bet for a livin" - ARE WRONG. It can be done if someone does it allready. But the same time, the other thought get up in me and say to me " yea, this is possible, but i'm so far away from that right now, and looks like never be there - to feel the market, and to prove to everyone with real example, and mostly prove to me that "i finaly do it, and don't wory about bad luck, becouse i know what i'm doing". Hope and a lil'bit despair at the same time, but still will'n

[Jambolino]

Could somone tell me if this would work.....

If I lay the 3rd favourite at 6.0 30 seconds before the race and let it go in play, half way through the race he is lagging and and up to 20 then falls right to the back of the filed and is up to 50.0, could I not just green up and get out for a bit profit?

I may be completely wrong but to just trying to understand it all abit better

Would I be able to just hit the hedge figure or would I not get that hedged bet backed?

Thanks