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If there is one truth in the trading community it is this, people who are given the same info and help will still get wildly different results in their trading.

We see it on a daily basis on BTC, Twitter and betting sites.

For Pro's it is easy to forget why this happens and sometimes hard to understand how two people who are given the exact same advice can have opposite outcomes. However, it is important to remind ourselves how easy the common mistakes are to make!

One thing I think every serious sport trader has faced is how tricky it can be to fit trading around your everyday life. When every trader starts their journey they will have to add trading to a likely already packed social schedule. Well the good news is that it does not have to be one or the other. Some compromises may have to be reached but there is no real reason that both sides of your life cannot work together in a seamless way.

Thanks to Paul Green for bringing up today's topic, he asked a question about compound interest and I realised this topic is well worth a blog post.

If you have not read my bankroll management blog post then I seriously advise you to! https://betfairtradingcommunity.com/en/blog/bankroll-and-bet-staking

But anyway on to today's follow up:

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!

Listen Here: