Bank roll to start

[Waynemaria]

Hi
I am looking into the Bet angel software and have been quite impressed so far.
But I would like to know how much bank roll did you start with ? And did you make profit in your first 3-6 months.
Thank you for your time

[Waynemaria]

Hi
I am looking into the Bet angel software and have been quite impressed so far.
But I would like to know how much bank roll did you start with ? And did you make profit in your first 3-6 months.
Thank you for your time

[rik]

i dont know how much experience you have but i think its a beginner view that you need a big bank to start.
its much easier trading with low stakes, anyone that knows a bit about trading can go £10 to £20 in day in a sensible way no problem, 10k to 20k will be only very few that can do that.
if you are any good you can build a bank fast no problem, if you cant do that you shouldnt bet bigger stakes anyway, its when your upping the stakes you will influence the price and find harder get fully matched at value

[ShaunWhite]

Hi
I am looking into the Bet angel software and have been quite impressed so far.
But I would like to know how much bank roll did you start with ? And did you make profit in your first 3-6 months.
Thank you for your time

£50 is more than enough because you want to start with £2 stakes. And on min stakes, winning or losing pennies, then that should last you quite a while.

Yep I made a profit in 3-6 months, then gave it all back plus more

Peoples' time until success is obv a bell curve but I think there's a reasonable amount of agreement that the peak of that would be a year+. But remember that unfortunately only about 5% of new traders ever make anything so keep your expectations reasonable and don't run out of money before you run out of things to learn.

That 95% is predominantly people who go at it like a bull in a china shop and get disillusioned before they've learnt all they need to know. Try to consider the first 6months as paying for an education that might pay-off one day, but if it doesn't then you've at least enjoyed it and it's not cost you more than some other hobby.

[ShaunWhite]

I've just noticed our avatars rik....I think that shows the difference between a manual trader and an automated one

[Derek27]

Hi
I am looking into the Bet angel software and have been quite impressed so far.
But I would like to know how much bank roll did you start with ? And did you make profit in your first 3-6 months.
Thank you for your time

I would recommend starting with about £50 and just doing £2 trades, focusing on getting positive trades rather than how many pennies you can get out of a trade - that's where it all starts.

If you can keep your head above water, £100 to £200 would give you the scope to start scaling your stakes, i.e. having larger trades on the shorter-priced selections or more stable markets and smaller trades on the bigger-priced and more volatile markets.

Above all, be patient. I'm guessing, most traders including me, thought they cracked it and started increasing stakes long before they really had, and that's when the bigger blunders arise.

[Kai]

I'm guessing, most traders including me, thought they cracked it and started increasing stakes long before they really had, and that's when the bigger blunders arise.

Yup, had several false dawns myself where I basically started looking at what islands to purchase. It's quite a ride OP, don't forget to enjoy it too.

Absolute overkill of advice on the forum overall, the vast majority of it gets ignored and buried but you just have to find similar threads.

[Crazyskier]

Hi
I am looking into the Bet angel software and have been quite impressed so far.
But I would like to know how much bank roll did you start with ? And did you make profit in your first 3-6 months.
Thank you for your time

Starting bank: A few hundred pounds, though for min stakes manual trading £50 is plenty to learn with.

Early profits: Yes, though my inability to accept reds (losses), especially those that were once green (wins), meant that I went in-play and inevitably got bitten. many times. Impulsive (former) mug punters like me - and there are many of us! - have to resort to at least semi-automation to maintain any semblance of consistency and remove all emotion from trading.It's astonishing just how good I still feel about myself when I accept small reds pre-off rather than hoping a price returns or goes out in play. Long term, I've found it essential to adopt this discipline, and boy did I blow a few sizeable banks before I really learned the hard way...

Good luck on your endeavours!

CS

[Diacritical Quark]

Just echoing what others have said a starting balance should be as low as possible, £50 and £2 stakes.

I've posted a screenshot of my PnL since mid April, this is with a £50 starting balance and £2 stakes. A lot is automated, some is manual and I'm only just considering increasing stakes now, and even then it will only be a very minor increase.

Someone mentioned above about trading being a journey, I would hazard a guess each and every one has blown at least one bank. That £50 you start with may last a week, a day, an hour but I wouldn't be surprised if you blew it with lack of discipline or just losing your head after a few bad trades. We've all been there, I've blown some pretty sizeable banks before I slowly learned what style of trading suits me.

That is key, figuring out what kind of trader you are. I know 100% I can't scalp or swing trade, I lack the patience and discipline, a couple of bad trades and I'm all over the place. It has however taken me a long time and many blown accounts to figure this out. Automated and a simple laying strategy work best for me.

Keep at it, it doesn't have to be an expensive hobby, just remember to have fun with it, that was missing for so long in my trading, enjoy it!

[Kai]

Well done Diacritical Quark, and well said.

I've just noticed our avatars rik....I think that shows the difference between a manual trader and an automated one

Underrated comment imho.

But what's with everyone getting fresh new forum avatars all of a sudden? I see all the cool kids are getting one, must be a new fad or a trend?

[Derek27]

Well done Diacritical Quark, and well said.

I've just noticed our avatars rik....I think that shows the difference between a manual trader and an automated one

Underrated comment imho.

But what's with everyone getting fresh new forum avatars all of a sudden? I see all the cool kids are getting one, must be a new fad or a trend?

Middle-age crisis?

[sa7med]

I built a bank on betfair by doing some matched betting. Good way to learn the exchange as well as build a bankroll. Also it doesn't feel too bad if you lose it. I got lucky and found a small edge early on which kept me going, have been steadily but slowly growing since then with some bumps along the way (especially these days). It can be a tough journey to make a living out of it and it helps to have some skills (coding, data science, stats, etc).

[Kai]

Well done Diacritical Quark, and well said.

I've just noticed our avatars rik....I think that shows the difference between a manual trader and an automated one

Underrated comment imho.

But what's with everyone getting fresh new forum avatars all of a sudden? I see all the cool kids are getting one, must be a new fad or a trend?

Middle-age crisis?

Could be. Maybe we should hop on the trend as well?

[rik]

never had an avatar, maybe you are right about the difference between manual and auto trader, ive calmed down a lot though from a couple of years ago

[Derek27]

I think I tried to upload a photo ages ago (not of me) but there was a 10K limit!