Bet Angel for newbies / Getting started : Betfair scalping for beginners

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rion6791
Posts: 5
Joined: Mon Jun 13, 2011 7:17 pm

Mon Jun 13, 2011 10:01 pm

Hi all,

I am a complete novice in the world of trading.

I am using the 7 day free trial of Bet Angel Pro, and watched the following video: http://www.youtube.com/watch?v=MMs3SfXiV8U

The second part shows the user 'scalping' using the one click screen, he makes it look so simple as though there's no brain power required at all.

I thought seeing as the trial was free. I'd give it a go using £2 stakes. I tried it once to lay the favourite but ended up losing 0.35p, I then went to the next race and did the same process, all the this time I spread the profit over all runners and ended up with 0.04p profit.

I just wanted to know whether there is some sort of signals to look out for or a time frame to place the lay bet?

I should note I had all the same options as the guy in the video selected with just smaller stakes.

I realise I'm probably falling at the first hurdle and the majority reading this will probably be amused at my apparent 'stupidity' but trading is something I am really interested in learning and perhaps one day mastering.

So if anyone can spare a minute and advise basic pointers to get me on my way, using very small stakes (I understand this will only result in potentially small profits,but that's fine for now)it'd be brilliant!!

Thanks in advance

convoysur
Posts: 187
Joined: Mon Jun 13, 2011 12:26 am

Mon Jun 13, 2011 10:58 pm

Hi Rion
you will find just a little advice on here .knowledge about trading is more precious than gold.i have my self only started trading a couple of months ago and have experienced all the confusion you are also feeling.i will give you some pointers that might help you some what.but remember im also just a novice and my stakes are also small im praying to get a couple of thousant in my account so i can make some decent trades,so what i say please use caution im still learning,there are so many ways to work the market and its easy to do too much,the most important thing is DESAPLIN (OR HOW EVER ITS SPELT )
make a plan before you trade ,do not deviate from it,do not start to lay bets and bet on horses you fancy. the whole idea is to make your money before the off,green up and straight on to the next race,
also
markets with less than 100.000 in then are very unstable wait for the money which normally comes 5 minuites before the off.wait with your finger on the mouse ready for the right second to enter , enter when the weight of money is at least 66% in any direction with at least 3.000 behind it to push it.when you enter use the one ladder selection this will give you the profit or loss verry clearly ,have the mouse on it ready to exit if it goes tits up it will its just a matter of time.
there are lots of other ways also loke reading in running ,etc etc ,,be verry cautious there are alot of hungry fuckers out there and they will devour new meat like you..take your time find your angle that your comfortable with and perfect it,, good luck if i can help you just ask...good luck stay on the small atakes for at least 3 months watch all the videos over and over,,
regards
marc,,,

rion6791
Posts: 5
Joined: Mon Jun 13, 2011 7:17 pm

Mon Jun 13, 2011 11:10 pm

Cheers Marc,

How much did you start with in your account?

Have you managed to increase it at all?

I'm finding it very confusing at the moment.

I'm literally just struggling with the basics, i.e. whether to back or lay first, then whether to wait for the price to increase or decrease?!

How did u get to grips with it? Just watching videos etc??

Cheers mate

Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Mon Jun 13, 2011 11:17 pm

Hi Marc

Scalping isn't really my thing (I'm more of a swing trader - or at least I try to be! LOL!).

But IMHO the challenge with the method you describe is that you're using the same approach that lots of traders and bots use. And you might have lizard-like reactions with your mouse, but someone's spreadsheet is going to beat your finger to the draw every time! :) The point I'm making is that, by the time the opportunity you describe has arisen, I suspect it's usually too late to capitalise on it.

Why not offer money to the market when the price is a few ticks away, so you'll be nearer to the front of the queue when it does arrive? That way, you can kill your order if it looks like the price is going to go straight through you, or grab a tick's profit if it's going to stay there for a little while (or better yet, turn around and reverse after you've been matched!).

Jeff
convoysur wrote: wait with your finger on the mouse ready for the right second to enter , enter when the weight of money is at least 66% in any direction with at least 3.000 behind it to push it.when you enter use the one ladder selection this will give you the profit or loss verry clearly ,have the mouse on it ready to exit if it goes tits up it will its just a matter of time.

convoysur
Posts: 187
Joined: Mon Jun 13, 2011 12:26 am

Tue Jun 14, 2011 12:16 am

to ferru
thanks any help from an experienced trader is verry welcome, im not at the excel spread sheet stage yet ,but i will be ,i need to buy them from a trader or do a course oon excel,all in good time


to rion
i started with 100 euros ,and lost it. i repeated this 5 times,
the biggest problem is that when starting with 2 euro trades it seams like your going no where .RIGHT ? BUT REMEMBER IF IT WERE 20 EURO OR 100 EURO YOU WOULD BE LOSING 10 OR 25 TIMES AS MUCH AS YOU ARE IN THE BEGINNING,so relax ,stay calm all good things come to those who wait,remember if you make 25p from a small trade when you know what your doing that trade profit will be 25,00 ,get the basics right ,crawl before walking ,then walk before you run.read all the blogs see what the big boys do you must read between the lines because they wont tell you there secrets or there edge.
a good way to build up your bank in the beginning is this.open accounts with the bookies .
they offer free bets,
example i did last week ..boyle sports in ireland will match my first bet up to 25.00 euros .so i open an account with 25,00 euro i bet a horse at even money .i lay the same horse on betfair ,so i cant loose .now step 2 .i get my free 25,00euro bet from boyle sports .i repeat the process and i have an extra 25 in my bet fair account .remember you want the horse to lose ,you want the money in your betfair account ,repeat this with as many bookies as possible,there are lots with these offers .and i love taking the fuckers money especaills paddy powers he made 194 million last year,,
stay with it nothing in life comes easy we have to work at it.
best of luck with it.
regards
marc

Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Tue Jun 14, 2011 12:27 am

convoysur wrote:to ferru
thanks any help from an experienced trader is verry welcome, im not at the excel spread sheet stage yet ,but i will be ,i need to buy them from a trader or do a course oon excel,all in good time
No worries, and although I might be experienced, I won't pretend I'm any good! :lol:

I wasn't suggesting you use a spreadsheet, btw; merely that you consider alternative ways of approaching the market.

I would use small stakes until you're confident you know what you're doing. Jumping in with larger stakes might sound fun, but, trust me, losing money isn't fun (believe me, I know!). If I were you, I'd use the minimum stake you can, forget it's money, and just treat your win/loss amount as a way of keeping score in your game against the market. :)

Jeff

Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Tue Jun 14, 2011 10:45 am

PS Remember that much of what you might think you see in the market is smoke and mirrors. The market might appear to be going somewhere, but is it really?

So if everybody jumps aboard the train when the wom is overwhelmingly pointing in a particular direction, you can do the same, or you can think of ways to exploit the crowd's behaviour... ;)

Jeff

convoysur
Posts: 187
Joined: Mon Jun 13, 2011 12:26 am

Tue Jun 14, 2011 11:37 am

hI jeff
I really wish i could find a good angle,with your clues .im goina study it even closer to try and find a way to exploit it,but the light bulb in my head hasnt come on yet so i guess its safe to say im still in training ,training without a teacher,
Regards
Marc

Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Tue Jun 14, 2011 11:41 am

The markets are your teacher. :)

You might find these pages useful:

http://adamheathcote.blogspot.com/2009/ ... oints.html

http://adamheathcote.blogspot.com/2009/ ... oints.html

And rather than trading, why not simply observe the markets, and see if you can spot any commonly occuring patterns?

Jeff
convoysur wrote:hI jeff
I really wish i could find a good angle,with your clues .im goina study it even closer to try and find a way to exploit it,but the light bulb in my head hasnt come on yet so i guess its safe to say im still in training ,training without a teacher,
Regards
Marc

convoysur
Posts: 187
Joined: Mon Jun 13, 2011 12:26 am

Tue Jun 14, 2011 11:52 am

Hi Jeff
Thanks for the links. nice one ,
Regards
MARC

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