£25 a day - A beginner's journey

[freddy]

007 If you quit now you will be one of the very few people who has made money laying horses on Betfair without inside info or market knowledge , well done .

otherwise im 99.99% sure you will eventually lose,

your sample size is tiny and is in no way anything to go by im afraid, you will get long winning runs laying at those odds, but if you dont have a edge of some sort then you will get wiped out.

laying horses is no different to backing them almost impossible

[Iron]

The irony is that, if 007 has a trading edge and if he applies it with discipline, then he'll be able to start with £100 and convert that into thousands within weeks.

And if he doesn't have a trading edge, he's wasting his time trying to raise money for his trading venture, as he'll quickly give it back to the market once he starts trading...

Jeff

[Iron]

My guess is 007 won't be around for too much longer

http://www.youtube.com/watch?v=FZxzC3X5ww8

[Alpha322]

laying horses is no different to backing them almost impossible

That is why an all green screen is 100% profit all the time Trading if you cant put the effort in to master it you will never love it

[Zenyatta]

laying horses is no different to backing them almost impossible

Unless of course your name is Zenyatta or JollyGreen If your username is not one of those two, don't punt.

[freddy]

If you say so

[007]

Again, I appreciate your honesty - straight from the horse's mouth.

I figured if I were in shark infested waters I wouldn't need to be a fast swimmer to survive; only faster than the guy next to me.

I will continue with laying horses in the meantime but the trading can wait..

[Dublin_Flyer]

007 I ran some theories on dutching the field against the fav on all weather tracks at the start of the year vs just laying the fav. At stakes of 100 if was a profit of 2500 at Southwell until the end of March, loss at Wolves, break even give or take at Lingfield, huge loss at Kempton.

Laying favs might work short term, but 1 single evening while you're bringing the other half out for dinner while the computer is going, your bankroll could be going down vastly if you're laying favs and they keep rolling in.

For what it's worth, I know a guy who has lost €100,000 twice laying horses at 1000 in running, Dun Doire, and Wichita Lineman, both at Cheltenham, different years. In running is not a good way to lay unless you're there watching the jockeys arse leave the saddle and end up on the ground!

[007]

Cheers Dublin_Flyer. I appreciate that.

[gazuty]

Why are we having this discussion. Strategies that are NOT designed to get to an all green position are called gambling.

Very, very, very few people can make money gambling. A person with discipline can make money trading (after they pay the market a learning fee). In my experience there are very few people who have the discipline. Most people lack the will, they don't red up their losses, they punt and let bad positions roll on into the market. Sometimes the market makes them pay. Eventually the market takes away all of their bank as a learning fee.

I still experiment with part of my account and pay learning fees to the market. Otherwise I stick to my core strategies and watch and adapt those core strategies.

Good luck 007, but there are other sites for picking losers/winners etc.

[Iron]

And if the jockey in question is McCoy, the horse may still win! http://www.youtube.com/watch?v=ZnE-q5rOEKQ

Jeff

In running is not a good way to lay unless you're there watching the jockeys arse leave the saddle and end up on the ground!

[Iron]

Quite. It behooves beginners to remember that the market knows a LOT more than they do.

I know a guy who used to be an out-and-out gambler, laying horses. I actually met him as a result of buying his Ebay system, possibly before I'd even heard of Bet Angel. Anyway, this guy made £500 a week from laying horses, until at one point he hit a long losing period. Whether it was due to changes in racing or just the market getting smarter, I don't know. That was about six years ago. He subsequently taught himself to trade, and he now makes a very good living from it.

Jeff

Very, very, very few people can make money gambling.

[007]

If I lose, I lose the very small betting bank I started with.

For me, the risk vs the reward ratio stacks up; I'm not out of time nor pocket and am enjoying the ride so far, so nothing to lose, me thinks.

.. by the sounds of it, I ain't gonna last too long. Then maybe this post will help others in some way..

[Zenyatta]

The market is not God of course. God would have mercy. The market won't. You're gonna lose the lot very soon 007.

[Iron]

The market is not God of course. God would have mercy.

Have you ever read the Old Testament?

Jeff