I'm going to become a Betting Angel
It's worth a try and should be nicer than continuing to struggle with manual prerace markets
The job wasn't great so left because I was offered another one I'm still waiting to start
I need to make a bot to make a profit so I can sleep instead of working
I actually find creating and modifying bots more time consuming than manual trading. I've spent virtually a whole week coding a while ago.
Nobody needs to make money from trading to avoid a 9 to 5 job. It's usually the other way around, people start making money from trading and then quit their 9 to 5 or decide they don't need one.
Many people on this forum, myself included, would be completely buggered if we couldn't trade. 10 years of gambling isn't something you can put on a C.V. If you're still employable and getting job offers, don't throw that away and get hell-bent on creating a bot until you've reached a satisfactory level of success.
I'm just messing around with a few different ones from here + trying some ideas from my experience in the markets
If any stand out then I'll focus on that one and see if I can get it to go anywhere
Agree with the advice, I couldn't make manual trading work after a long time of trying so it feels a relief to try another approach even if it doesn't work out or takes a long timeDerek27 wrote: ↑Wed May 25, 2022 12:05 amI actually find creating and modifying bots more time consuming than manual trading. I've spent virtually a whole week coding a while ago.
Nobody needs to make money from trading to avoid a 9 to 5 job. It's usually the other way around, people start making money from trading and then quit their 9 to 5 or decide they don't need one.
Many people on this forum, myself included, would be completely buggered if we couldn't trade. 10 years of gambling isn't something you can put on a C.V. If you're still employable and getting job offers, don't throw that away and get hell-bent on creating a bot until you've reached a satisfactory level of success.
- wearthefoxhat
- Posts: 3227
- Joined: Sun Feb 18, 2018 9:55 am
Good luck going forward.alexmr2 wrote: ↑Wed May 25, 2022 12:10 amAgree with the advice, I couldn't make manual trading work after a long time of trying so it feels a relief to try another approach even if it doesn't work out or takes a long timeDerek27 wrote: ↑Wed May 25, 2022 12:05 amI actually find creating and modifying bots more time consuming than manual trading. I've spent virtually a whole week coding a while ago.
Nobody needs to make money from trading to avoid a 9 to 5 job. It's usually the other way around, people start making money from trading and then quit their 9 to 5 or decide they don't need one.
Many people on this forum, myself included, would be completely buggered if we couldn't trade. 10 years of gambling isn't something you can put on a C.V. If you're still employable and getting job offers, don't throw that away and get hell-bent on creating a bot until you've reached a satisfactory level of success.
My best results have been more in line with semi-automation. ie: Get a bot to enter a trade (depending on the metrics) and manually manage the exit points.
The way Betfair has performed with their downtime issues, a fully automated solution is tough to find/trust.
Also depends on your choice of sport. Greyhounds is auto bot heaven, however, my one eventually lost, so I can't speak with any authority on that market. Horse racing/Football Pre/IP are probably the best ones for semi-automation. Cricket/Tennis look lively too.
Don't forget we still don't know the outcome of the current gambling review. Some of the things that are being bandied about like, affordability checks, having £100 monthly loss limits or even online time limits would kill the exchange and trading. Some of the current proposals are the biggest threat to the gambling industry in decades. Even if it turns out in a few months that the proposals aren't that bad, this is not the end of it as there are polititians determined to destroy the industry.
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
According to Betfair there will be no further restrictions or conditions under the current proposals, as they have already exceeded the requirements.
The way to avoid affordability checks is quite simple, don't make deposits, keep your working capital in your account and just withdraw profits. And if you're asked to provide documentation then that's quite straightforward too unless you have anything to hide as it's simply an extention of the current money laundering regulations.
That's good for us but the people we win money against will need to keep depositing (as bad as that sounds) as otherwise it'll be winners v winnersShaunWhite wrote: ↑Thu May 26, 2022 11:22 amAccording to Betfair there will be no further restrictions or conditions under the current proposals, as they have already exceeded the requirements.
The way to avoid affordability checks is quite simple, don't make deposits, keep your working capital in your account and just withdraw profits. And if you're asked to provide documentation then that's quite straightforward too unless you have anything to hide as it's simply an extention of the current money laundering regulations.
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
I don't want to take money from anyone who can't afford it. But yes the restrictions placed on Betfair have no doubt had a huge effect already on the amount of leisure gambling money we get to aim at. But its their opinion that we've seen the worst and some sort of leveling or even small bounce back is very likely. I don't see green pastures ahead but I think we've ridden out the worst.
On a side note, I was really surprised to only see a couple of people from here at the recent event in Southwell, its so hard to get to speak to Betfair (or Peter) that given the chance I thought more would take it. Personally as a result I've been upgraded to priority support even though I probably shouldn't qualify, and they've given me free unlimited TPD data, and I got to talk first hand about affordability checks and future expansion. Decent result. So where was everyone? That's said I know how many are on priority support now, so I'm starting to think everyone else was already on it. If not it tells you about the competition there is outside of this relatively small pond on the forum. No wonder its so hard to make £1 from markets that probably only have a few grand of margin available to share.
Shaun, a couple of questions :ShaunWhite wrote: ↑Thu May 26, 2022 12:06 pmOn a side note, I was really surprised to only see a couple of people from here at the recent event in Southwell, its so hard to get to speak to Betfair (or Peter) that given the chance I thought more would take it. Personally as a result I've been upgraded to priority support even though I probably shouldn't qualify, and they've given me free unlimited TPD data, and I got to talk first hand about affordability checks and future expansion. Decent result. So where was everyone? That's said I know how many are on priority support now, so I'm starting to think everyone else was already on it. If not it tells you about the competition there is outside of this relatively small pond on the forum. No wonder its so hard to make £1 from markets that probably only have a few grand of margin available to share.
- what do you mean upgraded to priority support and by whom?
- Who has given you free unlimited TPD data? (Betfair or TPD)?
Thanks
Peter
Will have to give that a try to see if it improves my manual trading.wearthefoxhat wrote: ↑Wed May 25, 2022 8:49 amMy best results have been more in line with semi-automation. ie: Get a bot to enter a trade (depending on the metrics) and manually manage the exit points.
A psychological issue I came across was that when I'd used effort to analyse the market and then made an active decision to place a trade, it was harder to accept the loss if it was wrong. If a bot does the thinking for me then it should be easier to close the trade + I assume AI can't optimise the exit as well as the perceptual judgement of a human
Personally, if I was creating my first ever bot from scratch again, I'd go for tennis every time. Only 2 possible outcomes, and the mechanical\predictable nature of the price moves remove a lot of the variables you have to cater for in other sports.