As i said earlier in the website, i use a £500 bank for my trading.I stumbled accross this a few years ago when watching prices on Betfair.com.I placed £50 on a horse at 10/1 as i was told it would run a good race(this bet would of won £500),after i had placed the bet i watched the price crash into 5/1,i decided to lay the bet off (explained later) at 5/1 so i wouldnt lose my £50.So now i stood to win £250 without risking any money,thats my sort of bet i thought.Just to make sure i won some money i then laid another £10 at 5/1 so i was only due to win £200 on horse D but it guaranteed i would win some money .The betting page on betfair now looked like this:
Horse A +£10
Horse B +£10
Horse C +£10
Horse D +£200
Horse E +£10
Now i could watch the race and really enjoy it as i knew whichever horse won i would win at least £10 for 3 minutes work! My horse won and i picked up £200,it could of been alot more but i learned something that day and went on to make alot of money over the next six months.I still trade when i get time and if you practice and become quick on the mouse there is alot of money to be made.i have my tv set up next to my pc so i can keep a check on all the prices to see if there are any significant price changes i can trade on.With experience you will get used to how quickly prices can change and when to close out your trade.I will sit and watch prices and when a horse starts to get serious money on it backing it or if the price is drifting then this is when i make my trade.
DO'S
a) I only trade on uk races in the afternoon when there is plenty of money being bet and traded.
b) Only trade when you can concentrate on it 100%.
c) Be confident
d) If possible have a laptop along pc just incase it crashes and your halfway through a trade
DONT
a) Trade to close to the off time just incase the pc freezes and there isnt enough time to close the trade out
b) Let a trade run without closing it out hoping it will lose.You will get your fingers burnt and your bank will be hit,believe me ive done it!
c) Worry if a trade starts to go the wrong way,close it out for a small loss,it might lose anyway.The idea is as long as your getting more than 50% of your trades right you will make a decent profit!
Any questions you can email me and i will reply as soon as possible.
Terms:
LAY: is when you back a horse not to win(this can be done on any of the betting exchanges,click on links to join)
BACK: when you place money on a horse to win
CLOSING A TRADE OUT : when you have backed a horse and then layed it back to hopefully make a decent profit or a small loss
Once joining Betfair and getting used to the site then check out a very useful trading tool,which is bettraderpro.you can check this out on website link below. Good luck as trading can be very profitable with practice
