The reality is that when trading on Betfair there are a few common mistakes people make when they have a bankroll that is smaller than they would like.
Here are the top 5 mistakes and more importantly the solutions to them!
Overly aggressive staking
There are two schools of thought regarding volume of trades. One ideology is that you should find an edge and hammer every possible bet that you see, an approach known as ‘Scatter-gun’. The other is that you choose quality over quantity and only trade a couple of markets per day, waiting for absolutely outstanding trading opportunities, a ‘Very Selective’ way to trade.
It has been great to witness the rise of some of the best traders on our forum in the past few weeks, so much so that we want to start rewarding our best ‘posters’, is that a phrase? I’m not sure but I think you know what I mean. We want to have some kind of monthly MVP or trader of the month award. If you have any ideas for this or for prizes please let me or Ryan know.
Some people will read the title of this blog post and shudder, some will know it is a part of the game and have no problem with it.
This may make a few feel better about their £2 red!
From a personal standpoint I do not much like taking a loss but have learnt to find joy in when the market proves you right and you got out at the right time.
There has been a big demand for a blog post on Bankroll Management from our members so I have heeded to your wishes and will try and write a great document for you all.
What separates the winnings traders from the losing ones?
If you ask me what the number one thing that defines a good trader is (apart from discipline and bankroll management) I would say choosing good entry and exit points. It is almost an art form because hitting the perfect entry and exit point is near impossible. However, hitting ‘good’ and profitable ones is very achievable if you know what to look out for.
Hey everyone! Martin did an interview with David from Betcast this morning about his trading history/insight and the Betfair Trading Community site, well worth a listen!
Well what a day this has been! I was a bit nervous taking over the live chat from Ryan as he is such an exceptional talent but those nerves were settled when Man City won my first tip 2-0 at HT for a 50% ROI. Brentford grabbed a late equaliser in my next bet and was happy to take the 25% loss on that one.
Hi everyone, given that our membership has trebled from 100 to over 300 people this year so far, I wanted to write a blog post to help what are assumedly a lot of newbie traders. (Originally wrote this in January but only just publishing it!).
So, I thought I would write about one of my favourite and most profitable trading strategies, laying at low odds. The reason I want to talk about this is that it is fairly easy to implement and carries such little risk that even if it goes wrong you will not lose much money.