How do you guys work out how much to use in trade?
Somebody told me once never to use more than 10% of ur betting stake as a liability.
Just curious cause i've tried 10% and I've tried the tick method and can't work out which one i like.
Cheers
Ian
Betting bank
I trade with a maximum liability of 25% of my bank, aiming to win an average of £100 per day.
I was made redundant in June 2008 & decided to go full-time as a betting trader
My first full year is now up & I've earned just under £20000
Not brilliant, but enough to pay my bills
I was made redundant in June 2008 & decided to go full-time as a betting trader
My first full year is now up & I've earned just under £20000
Not brilliant, but enough to pay my bills
To be honest, I don't have a set style
Sometimes I'll use the liability option, sometimes ticks, and also quite often switch between bookmaking & dutching.
It depends on what I gauge from the market at the time.
Of course, this doesn't mean my strategy is ideal, because there appears to be plenty of people here who make considerably more than me
Sometimes I'll use the liability option, sometimes ticks, and also quite often switch between bookmaking & dutching.
It depends on what I gauge from the market at the time.
Of course, this doesn't mean my strategy is ideal, because there appears to be plenty of people here who make considerably more than me
I used to use £1 tick size regardless of my bank size
I now use £25 £50 or £100 depending on the amounts of money in the market and the odds.
Lower odds and more money in the market = bigger stake
I found auto stakes slightly annoying (and costly) as when the odds cross a certain point the stakes change so I'd open a trade, and close it only to find I hadn't closed it because the stake size was changed due to the odds, but then not having auto stake means that you change market and then have the wrong stake size from the start...
What I do now is have auto stakes ticked, but select the stake size manually from my pre set stake boxes before I start trading a horse so that I know it won't change on me mid trade.
I now use £25 £50 or £100 depending on the amounts of money in the market and the odds.
Lower odds and more money in the market = bigger stake
I found auto stakes slightly annoying (and costly) as when the odds cross a certain point the stakes change so I'd open a trade, and close it only to find I hadn't closed it because the stake size was changed due to the odds, but then not having auto stake means that you change market and then have the wrong stake size from the start...
What I do now is have auto stakes ticked, but select the stake size manually from my pre set stake boxes before I start trading a horse so that I know it won't change on me mid trade.
When using the £1 per tick, how much was in your betting bank? If you don't mind me asking!
I tried using liabity staking this afternoon but the markets I entered all seemed to go against me. I presume this is due me currently entering on the lay side and making ticks as the odds increase.
At one point I was looking at at £40 loss which was nearly 305 of my betting bank. I did pull it round to only an £11 loss but chnging strategy needs to be played with small stakes!
Back to per Tikcs now just need to work out how much.
Cheers
Ian
I tried using liabity staking this afternoon but the markets I entered all seemed to go against me. I presume this is due me currently entering on the lay side and making ticks as the odds increase.
At one point I was looking at at £40 loss which was nearly 305 of my betting bank. I did pull it round to only an £11 loss but chnging strategy needs to be played with small stakes!
Back to per Tikcs now just need to work out how much.
Cheers
Ian
You need to have enough bank to cover a lay first trade, £150 - £200 bank should be enough to cover a £1 tick size.When using the £1 per tick, how much was in your betting bank? If you don't mind me asking!
Obviously you are staking a high % of bank, but as the bank is quite a low amount and you are only actually risking £1 per tick which is quite a low % of the bank.
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ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
The concept of a 'bank' is just how much money you have in your betfair account. That might be all you have, or you might have £100 in your account and a million in bonds under the mattress too. That renders most generic advice as being little more than an anecdote. You need to consider an acceptable loss as being the amount you can lose without it affecting your mentality. Staking is irrelevant, it's the amount you could lose that's important. For arguments sake I regard that as being iro 1%, occasionally 2%, of my working capital.
It's a difficult subject to address succinctly, trading styles vary from scalping dogs to being heavily involved in next year's politics or the football league outcome. Each requires different money management.
It think it pays to consider trading like any other business, if you're over-invested or under-invested you won't last long.
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wearthefoxhat
- Posts: 3215
- Joined: Sun Feb 18, 2018 9:55 am
For me, using a % of a "betting bank" is a subjective one. I've read a lot over time about allocating 1% or 5% of a bank for an initial bet/liability, but the sticking point is the old losing run.
What if the losing run takes out the equivalent of 25%, followed by another 15%, have you got the balls/mentality of using the remaining 60%?
Even if the whole bank is split into 4, and bank 1 blows, and then bank 2 is on the way too, same result, same question.
I suspect the answer is an amount that is first deposited and then recycled, doubled, withdraw 25%, recycle, falls below initial deposit, top up original figure, go again. End of year, calculate ROI%+ or total profit gained, or maybe given up...
What if the losing run takes out the equivalent of 25%, followed by another 15%, have you got the balls/mentality of using the remaining 60%?
Even if the whole bank is split into 4, and bank 1 blows, and then bank 2 is on the way too, same result, same question.
I suspect the answer is an amount that is first deposited and then recycled, doubled, withdraw 25%, recycle, falls below initial deposit, top up original figure, go again. End of year, calculate ROI%+ or total profit gained, or maybe given up...
The notion behind trading is that you take small controlled losses not hits of 15%, 25% and so on. Admittedly you will get hit occasionally by unavoidable feck ups (out of your control) etc, but if you are taking such losses or expect to, then you need to rethink what you are doing.
