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A Newbies tale...

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  • A Newbies tale...

    Hello,

    I thought I would introduce myself and tell you guys about what I have been doing so far, where I think I am going wrong and what I want to be doing in the future.


    I came to this really late only discovering Betfair before last year’s World Cup. I realised quite quickly this was completely different to anything I had seen before betting-wise and set about trying to read as much as I could about it. As usual with me though and despite all the advice out there to the contrary, I decided to jump in with both feet and stared backing the draw hoping to lay it off in running . I soon (although not soon enough!) realised that this was a crap strategy for me and thought about changing it. I was getting caught too many times. I also did not understand how BF places bets at the best available price. This cost me huge one game. Never mind, I lost most of my first £100 bank and re-loaded trying this time to lay the draw. I now k now that only the most experienced can do this well and not every match is suitable for this. Having lost again I took stock and loaded up a smaller bank of £50 for the new football season about to start.

    I had a strategy. LTD in games where the draw is priced under 6 with an insurance 0-0 bet to cover the liability. I can’t lose I thought and I’ll be rich by the end of the season! I started off quite well and turned the 50 into 100 after a few weeks. I though right – let’s really go for it. The hundred went to 200 and I thought I’ve really cracked this – it’s easy. A few losses led to me dipping back to 150 or so but I persevered. I actually reached 300 before a disastrous week (including where I chased losses – another no – no) took me back under 100. A deep sigh, another reload to 300 and off I went again – same plan!

    I was bumping along OK and had made about 100 up to 400 when the penultimate day of the Championship f****d me up! QPR drawing, Norwich with a last minute winner (after I had redded up all over) and one or two other dodgy results cost me over 250! I stopped and took a long look at the year.

    ….more to follow…

  • #2
    …here is the rest

    Then I started again to really read the blogs and forums like this. I spent hours reading and watching without trading. I downloaded both TT and BA. I have had some technical issues with TT (as posted about in the installation section) and am still using BA on the one month half-price trail. I am interested is developing my skills as I still believe I can make money from this. I think the LTD strategy has merit but only on a handful of games. I would not take the insurance bet and I will trade out on any first goal for small green or red.

    I have tried scalping the in-play overs/unders markets and like that. I tend to play one market above the kill point (i.e. start in o/u 2.5 and at first goal move up one to o/u 3.5 and so on) but I feel I don’t really understand these markets yet or have a feel for them

    I am very interested in the o/u markets in play in football. I like trading NFL when its on and am looking to get into tennis and cricket as well. I have really tried the horses but I just can not seem to have any idea the way the market is moving. I know people say that you don’t need to know anything about the sport you are trading but I think it really helps me anyway that I like football. Maybe it clouds my judgement sometimes but I figure if I am going to spend a lot of my spare time away from work looking at BF screens and trying to make a move, it might as well be in a market I at least know the something about.

    I’m off now to read the cricket posts here and try to figure that out. I wondered what people here thought of Betraider as an alternative to BA?

    Anyway, I’ve read most of the threads on here now and I am really getting into it. Thanks everyone for making this such an informative place and for making newbies feel welcome. I look forward to a long and fruitful time here trading and making some money.

    Wish me luck…..

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