Bet Angel for newbies / Getting started : Frustrated Newbie - any advice?

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abgespaced
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Joined: Sun Aug 23, 2020 2:25 am
Location: Australia

Thu Sep 10, 2020 12:13 pm

OP - I'm at around that 6 month mark where you start to see things turn a corner, so maybe this will help with some kind of medium term outlook.

On that note, know that I am not yet profitable like lots of the ol' boys around here. But I am, with my most recent level-headed trading, breaking-even. I feel that is a pretty good milestone in itself.

I'm going to go against the grain and suggest taking a look at what goes on in-play. Most of the trading advice is for pre-race markets. Personally I never found that interesting nor very profitable. You are competing against every other bastard doing the same thing, so you're playing a kind of meta game. You learn a lot about the markets, but not so much about what drives the markets.

What I love and simultaneously hate about in-play is that it forces you to look at what is actually going on in the real world- the actual events driving the prices. Just looking at pre-race it's easy to forget the fact that the prices are merely a representation of the probability of events occurring. The real world events drive the prices, not the other way around.

When you start wondering why this or that trade went against you, it's very easy to start blaming the market. But it's hard to argue that if the price goes against you because your team or horse lost, that it's the market's fault.

Anyway, just my 2 cents worth. I've lost more money on sports than I've made on horses. But the latter makes up for my mistakes on the former and I only trade in-play. Come to think of it, if just stuck to horses I'd be lifetime profitable by now :lol:

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Kai
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Thu Sep 10, 2020 1:29 pm

abgespaced wrote:
Thu Sep 10, 2020 12:13 pm
OP - I'm at around that 6 month mark where you start to see things turn a corner, so maybe this will help with some kind of medium term outlook.
Took me 6 months just to discover scalping :x Managing expectations is a big one, the frustration that OP talks about is understandable, trading looked so easy from the outside that I was convinced I would master it within 2 weeks maximum.

I joined the wrong community and was only looking at the markets from basic betting angles, wasted the first 5 months on stuff like LTD and CS with far too many ups and downs and false dawns, not to mention variance. Pure trading approaches and learning to scalp especially was a game changer though, blew right through PC allowance soon after that, then things kicked off at a faster pace after studying Valor Esperado materials.

Testing strategies on spread out markets can be a huge time sink and ultimately a waste of time if it ends up leading nowhere, ideally you want your market to be available every day so that you can make daily progress and get some momentum going.
stiwdiobet wrote:
Wed Sep 09, 2020 5:30 pm
I'd like to hear any suggestions as what you think a newbie focus on to master first
You would do quite well to just master any one thing first and foremost, that should be challenging enough!

Have to really go balls deep to penetrate that initial efficiency of the market, casual superficial flirting with any market will mostly likely get you nowhere.

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Derek27
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Thu Sep 10, 2020 2:18 pm

I remember my first scalp. Layed a horse (very early) for £1K at about 2.74. Got matched. Back order at 2.76, waited 30 seconds, then bottled out and closed trade.

More money than sense at the time, that trade used up most of my funds. :)

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Derek27
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Thu Sep 10, 2020 2:21 pm

Kai wrote:
Thu Sep 10, 2020 1:29 pm
Have to really go balls deep to penetrate that initial efficiency of the market, casual superficial flirting with any market will mostly likely get you nowhere.
Balls, penetrate, casual flirting, all in the same sentence. That will get flagged up by a lot of search engines. :)

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Kai
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Thu Sep 10, 2020 2:26 pm

Derek27 wrote:
Thu Sep 10, 2020 2:21 pm
Kai wrote:
Thu Sep 10, 2020 1:29 pm
Have to really go balls deep to penetrate that initial efficiency of the market, casual superficial flirting with any market will mostly likely get you nowhere.
Balls, penetrate, casual flirting, all in the same sentence. That will get flagged up by a lot of search engines. :)
Sorry, that was a saucy one I'll admit :D We all have to do our bit to promote the exchange :mrgreen:

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abgespaced
Posts: 48
Joined: Sun Aug 23, 2020 2:25 am
Location: Australia

Fri Sep 11, 2020 1:11 am

Derek27 wrote:
Thu Sep 10, 2020 2:21 pm
Balls, penetrate, casual flirting, all in the same sentence. That will get flagged up by a lot of search engines. :)
:lol:

jamesg46
Posts: 1378
Joined: Sat Jul 30, 2016 1:05 pm

Fri Sep 11, 2020 7:51 am

stiwdiobet wrote:
Wed Sep 09, 2020 5:30 pm
Hi Everyone, I've been using BA for a few weeks and am enjoying it, I definitely don't see it as something quick to learn but even though I'm losing money, I'm enjoying it but frustrated at the same time.

Can anyone share their experiences when first starting out? Were you frustrated? Did it seem that every trade goes against you, as it seems sometimes when I open a trade. I read somewhere that a lot of newbies feel there's a conspiracy against them, lol and I can certainly empathise with that feeling sometimes.

So I've watched the videos and read a lot, and some good advice was to learn one thing, master that and then master something else.

So really I'd like to hear any suggestions as what you think a newbie focus on to master first and have a chance at being profitable, lol a couple of £ a day would be a start.

I read Dallas's blog about the various type of Scalping which was great and interesting, but even that, most of the time, doesn't seem to go the way I expect.

Any advice would be appreciated.

Cheers
Darren
100% I'd start with perspective if i were to start again... of course I don't know that for sure because I'd be starting again & wouldn't of yet thought about it.

Anyway, I couldn't find the scene I wanted but its better to be the General at the top of the hill with an overview of the backers & layers....

"This event will start in 5 minuets, 5 minuets"

https://youtu.be/l4cizXu1hRU

I honestly didn't think I could get any more bat shit crazy :lol:

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Kai
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Joined: Tue Jan 20, 2015 12:21 pm
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Fri Sep 11, 2020 11:30 am

abgespaced wrote:
Fri Sep 11, 2020 1:11 am
Derek27 wrote:
Thu Sep 10, 2020 2:21 pm
Balls, penetrate, casual flirting, all in the same sentence. That will get flagged up by a lot of search engines. :)
:lol:
Purely a coincidence I assure you!!!!1!
jamesg46 wrote:
Fri Sep 11, 2020 7:51 am
Anyway, I couldn't find the scene I wanted but its better to be the General at the top of the hill with an overview of the backers & layers....
Spot on James, I used the same analogy on occasion, that you basically have to rise above the market noise and try and grasp the bigger picture, while those stuck in the trenches can't see much of the battle and often just end up fighting their own selves.

I think what helped me get a good enough overview of the markets that I was interested in was Peter's videos, a lot of them contained an important piece of the puzzle regarding big picture stuff.

Like someone once said, the market is designed to fool most people, most of the time!

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abgespaced
Posts: 48
Joined: Sun Aug 23, 2020 2:25 am
Location: Australia

Fri Sep 11, 2020 12:53 pm

Kai wrote:
Fri Sep 11, 2020 11:30 am

I think what helped me get a good enough overview of the markets that I was interested in was Peter's videos, a lot of them contained an important piece of the puzzle regarding big picture stuff.
Any videos in particular? Did you go through the BA Academy or just binge his Youtube?

jamesg46
Posts: 1378
Joined: Sat Jul 30, 2016 1:05 pm

Fri Sep 11, 2020 1:20 pm

Kai wrote:
Fri Sep 11, 2020 11:30 am
abgespaced wrote:
Fri Sep 11, 2020 1:11 am
Derek27 wrote:
Thu Sep 10, 2020 2:21 pm
Balls, penetrate, casual flirting, all in the same sentence. That will get flagged up by a lot of search engines. :)
:lol:
Purely a coincidence I assure you!!!!1!
jamesg46 wrote:
Fri Sep 11, 2020 7:51 am
Anyway, I couldn't find the scene I wanted but its better to be the General at the top of the hill with an overview of the backers & layers....
Spot on James, I used the same analogy on occasion, that you basically have to rise above the market noise and try and grasp the bigger picture, while those stuck in the trenches can't see much of the battle and often just end up fighting their own selves.

I think what helped me get a good enough overview of the markets that I was interested in was Peter's videos, a lot of them contained an important piece of the puzzle regarding big picture stuff.

Like someone once said, the market is designed to fool most people, most of the time!
Took me forever to realise it.

While I'm here replying, it was the men that stare at goats. I thought it was really funny, probably because i watched it with forum memebers in the back of my mind.... ive now got a complete different image of Shaun & his personality :lol:

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