Hello, any help appreciated!
Hello, I am a 39 year old and have worked in the betting industry for the majority of my working life, the other time I have worked in retail banking. I would like to think I have a pretty good understanding of the betting industry and how the markets react. I am occasionally privy to information from professionals in Racing, Bookmaking and trading rooms so I know i will get an edge there. I have built myself a decent kitty by arbing, this has now become impossible as I have exhausted many many accounts from bookmakers in my own and any others names. I understand that the key to making a success on here is discipline and have bought a couple of books "thinking fast and slow", and "Trading in the zone" which I have been told will help programme my mind the correct way. So basically I am just looking for some advice regarding getting to grips with the software, and developing strategy, I have purchased Professional and am prepared to stay in practice mode for as long as it takes, keep my kitty for when I am comfortable and dont expect any get rich quick kind of thing. I am here to educate myself and am a willing student. I will in return gladly give you any info I receive from the contacts I have made in racing for you to use/ignore as you wish.......thanks in advance Richard.
Hi,
Welcome etc.
The crew on here, are a mixed bunch. U will get a slew of msgs, saying, be prepared to put in screen time etc, (in practice mode), so, u appreciate what the software can do, and how to use it.
This is all fair enough, and, its definately true, u need to know how to start the car etc, but, I would also argue, u also need a road map.
Do u intend to be a pre-event trader, (closing positions at race-time), or 'gambler', letting them run ? Are u going to automate stuff ? Which sports do u feel u have an edge in ? if u have no edge, logically, the only winner, is not u.
Without data archives, to point u .. It appears u have ready made help, in the contacts. Hopefully, u track, whether their price shortens/contracts. if it has a predicatable behaviour, u can (if allowed), front-run the info .. or, at least join in, and take a profit at race-time.
I am a consistent loser at horse racing .. at least for the current years, having won, for maybe, 5 yrs. I have vastly reduced my exposure to racing, and now tolerate some loses, to churn commision.
I specialise in cricket, and win.
Watch all the functional videos u can, and maybe go on a course. If u live near a trading buddy, maybe try get, some hrs together.
Most of all, keep records, and analyse your wins/losses. They will highlight areas to improve, if u have the discipline .. which, is the major battle.
Welcome etc.
The crew on here, are a mixed bunch. U will get a slew of msgs, saying, be prepared to put in screen time etc, (in practice mode), so, u appreciate what the software can do, and how to use it.
This is all fair enough, and, its definately true, u need to know how to start the car etc, but, I would also argue, u also need a road map.
Do u intend to be a pre-event trader, (closing positions at race-time), or 'gambler', letting them run ? Are u going to automate stuff ? Which sports do u feel u have an edge in ? if u have no edge, logically, the only winner, is not u.
Without data archives, to point u .. It appears u have ready made help, in the contacts. Hopefully, u track, whether their price shortens/contracts. if it has a predicatable behaviour, u can (if allowed), front-run the info .. or, at least join in, and take a profit at race-time.
I am a consistent loser at horse racing .. at least for the current years, having won, for maybe, 5 yrs. I have vastly reduced my exposure to racing, and now tolerate some loses, to churn commision.
I specialise in cricket, and win.
Watch all the functional videos u can, and maybe go on a course. If u live near a trading buddy, maybe try get, some hrs together.
Most of all, keep records, and analyse your wins/losses. They will highlight areas to improve, if u have the discipline .. which, is the major battle.
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BetScalper
- Posts: 1139
- Joined: Sun Jul 02, 2017 10:47 pm
Be careful staying in practice mode without placing a good number of real bets/trades.
Otherwise you will find your account restricted by Betfair.
Good luck,
Otherwise you will find your account restricted by Betfair.
Good luck,
Thanks for the advice people. I very much intend to close all my trades before the beginning of any event, I will continue to do the odd arb here and there which should keep my betfait tickling along in the meantime. I believe you reap what you sow, so I am lucky to be spoon fed the horse racing info, I put in a tremendous amount of research into rugby league and also golf, so believe the work i can put in on these should in the outset at least give me a three pronged angle. Where would I find a potential local mentor?? I would love to eventually try and have some kind of automated system, but I am no fool and dont mind spending 8 hours sat at the pc if the rewards are there! Please keep the information and advice coming, I want to make a start by myself at understanding the software, There are hundreds of videos etc so any advice would be greatly appreciated.
I think megarain probably thought you might already know someone due to your background in the betting industry. If you don't know anyone, then its very unlikely someone will help you for nothing. I think there are people out there who will provide one to one tuition but its going to be very expensive.
I know someone who paid nearly £1000 for a single one to one session! In all fairness he admitted it was a total waste of money, this honesty is fairly unusual. People paying that kind of money for some tuition will very rarely admit to it not being of some help.
I would probably see how you get on yourself first, look at the sports you know something about and if after some time your not making any progress then look at doing a course with BA or someone else.