New to trading 18th May

[Kirisute62]

Hi all, I'm new to trading started on 18th may, lost a fair bit first day as expected and made a profit the next day with a little careful management of the finance, today I averaged a 83p per market 11 in total so I'm damn happy with that, could have been more but I had taken the position out whilst learning the movements, the markets did go the way I thought they would tho so good signs hopefully Any advice would be welcomed on anything

[ShaunWhite]

First of all welcome to the forum.

I don't know what your finances are like but try and keep your trades really small to start with. No single day should ever cost you 'a fair bit' at this stage. Unless you are very unusual it's likely to take you several months before you stop losing money, so make that stage as cheap as possible or you will become disillusioned before you crack it.

Apart from that just read and watch everything you can on the forum and the Betangel TV YouTube channel. There's lots of things you'll find interesting and useful as a beginner. But to begin with just stick to one sport which interests you.

Other than that it's hard to comment without knowing what your previous experience is. What brought you to trading and what do you hope to get from it, and how soon?

[Kirisute62]

Thankyou Shaunwhite

Previously I was doing matched betting, and I know you can make nice profits from that but waiting for reload offers and then the eventual gubbed accounts wasn't for me,
I came across caan berry then that led me to peter
So been reading the forums and books and watched a lot of videos.

Trading appealed to me and it's something I want to crack, I know it's not easy and I know it will take some time but eventually I would like to do it full time or at least part time as I know I can get seasonal work where I live,
Currently my bank is around £500 was at £400 but I very nice trade on the Barcelona match
I started trading the football but also the horses

I'm aiming for 6months before I can make a substantial extra income
A year before I can raise the stakes a fair amount

[ShaunWhite]

I'm aiming for 6months before I can make a substantial extra income

6 months, we'll have our coats and wellies on again by then and be watching 7 races instead of 35

It's a more sensible target than some arrive with, so all the best. But, growing your bank by 25% of the back of one football game is a concern rather than a cause for celebration. What risk did you have on that one? 1 or 2% at this stage would be more than enough.

[Kirisute62]

It was a calculated risk using bet angel soccer mystic,

Today's events have made me a £18 profit average £1:25 per race as well as a couple of scratch trades,
Over the two days I've averaged £1 per race 26 races traded

[ShaunWhite]

It was a calculated risk using bet angel soccer mystic,

I'd actually meant what financial risk, ie what your £ stop loss was. To have an upside of £100 I'd guess the downside was...?

Today's events have made me a £18 profit average £1:25 per race as well as a couple of scratch trades,
Over the two days I've averaged £1 per race 26 races traded

It seems like a good start but without knowing your strike rate and max liability it's difficult to say if it's sustainable. Even on a good sr% like 75 + you're going to experience losing streaks and your downside needs to be on a short reign.

You're doing something though which new people always do, you're focusing on the money you're making instead of the money you're losing. Work out your average loss and average gain separately. Try and keep the second larger than the first. If you do that you'll be able to convert a >55% strike rate into a profit.

I'd say it's fairly common for new people to make a profit in the first few days, the real challenge comes when you have a few losing days. Coming from matched betting you're not used to losing, Anyone can be a winning trader, it's how you handle being a losing trader which sorts the wheat from the chaff.

[Korattt]

my worst problem was trying to get involved when there wasn't an opportunity, still prone to that but getting better at ignoring markets that don't offer anything, that comes with experience, fear of missing out an' all that

[welshboy06]

I've been dabbling for nearly 2 years on and off now. I'd start with a bank I could afford to lose, then lose it within a week or two, take a few months off. Rinse and repeat. Hopefully I'll be back for good now, things seem to be clicking a little more than they were previously.

I agree with Shaun re: the risk per trade. Try not to expose yourself too much. Currently I'm working off around 5% risk, but started at 1%. So if you have a £1,000 bank. The most you should be willing to lose before cutting the trade is £10, which is actually still a lot for someone so new.

One tip I'll give you, there have been hundreds of posts just like yours (With people just starting out) there are pages upon pages of useful comments and tips in each of those threads. It is definitely worth going through a few of them, as many of the thread starters will have been in the same boat, and may have experienced things you are yet to, which will better prepare you.

[mickypaul72]

Hi folks ive been using bots but all of a sudden they seemed to have stopped working any ideas ? I'm using version v1.50.1. Thanks in advance.

[ShaunWhite]

Hi folks ive been using bots but all of a sudden they seemed to have stopped working any ideas ? I'm using version v1.50.1. Thanks in advance.

If you start a new thread and give a bit more info I'm sure someone can help.

Eg What type of market? Does it require live scores? Was the event delayed? Is it inplay or preplay? Without a clue it's hard to know where to start.

[BetScalper]

Hi folks ive been using bots but all of a sudden they seemed to have stopped working any ideas ? I'm using version v1.50.1. Thanks in advance.

Did you get an email from BF saying your account was restricted and/or blocked ?

[mickypaul72]

Hi ive been trying to figure out how to start a new thread but it seems to want a recipients name i'm sure it must be really simple to send a message but I have not worked it out

[Dallas]

Hi ive been trying to figure out how to start a new thread but it seems to want a recipients name i'm sure it must be really simple to send a message but I have not worked it out

Click in the section you want to post and in the top left corner click 'New Topic'
index.php

[wearthefoxhat]

Hi ive been trying to figure out how to start a new thread but it seems to want a recipients name i'm sure it must be really simple to send a message but I have not worked it out

Took me a while as well. Welcome to forum.