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

[Bluesky]

Thanks Jeff for reminding me about that excellent post made by Mugs a few years back. I hadn't forgotten it but I had not read it for a while, and it was good to read it once again. It has to be one of the best posts I have read on this forum. I would strongly recommend anyone considering pre off horse race trading to read it.

[ruthlessimon]

There was a trader on this forum who I won't name, who diligently followed the advice of the pros, quoting them in much the way that a biblical scholar might quote the disciples. However, despite being a clearly intelligent guy, he ended up quitting Betfair. I think the mistake he made was to leave his critical faculties at the door (also, he took pride in using stakes that made losing painful, which didn't help - it was like he saw losses as due to an error on his part, rather than a part of the game).

If I think I know who you're talking about - that thread was a fascinating case study to any budding trader. And actually a very scary one. That trader got given everything, even up to the point of Peter explaining how he traded individual markets. The conclusion to that was simply being given edges is actually detrimental. If the trader can't create the edge himself & understand exactly how he made it/works; the moment the market shifts, he's dead. Clearly, there was a missing variable. Learning the proper process of edge creation - I've only ever seen one great video on this - & it was a London prop trader. But the "look for correlations" sound bite is vastly incomplete.

[thebarra1]

Where can I view the post from mugs. Do you have a link. Newbie to forum

[Bluesky]

Where can I view the post from mugs. Do you have a link. Newbie to forum

Click on this link it's the third post down.
http://www.betangel.com/forum/viewtopic ... &start=160

[Xandolli]

Hi I am new to BA and I have started off with learning scalping. I have been using the ladder format exclusively for scalpling and I noticed a difference between when I use the ladder for scalping as compared to Peter's videos on scalping. In Peter's scalping videos I have noticed that there is no delay between him entering the market i.e., the stake is automatically entered when he enters/exits the markets which allow rapid exits/entries from and into the market when necessary . In contrast with myself is that there is 5-7 sec delay before my bet is placed which is really slow.

I disabled the confirmation screen but there is still the 5 sec countdown when placing a bet. Any help will be appreciated.

Thanks

[spreadbetting]

You're probably betting in football markets that are in play and therefore subject to a 5 second + delay before the bet shows up in the market, the video of Peter is probably betting in a pre-off market which doesn't have the in play delay imposed on bets.

[Xandolli]

Ah thank you very much. That is exactly the case. This makes scalping more difficult, that delay can be a killer

[threedogs]

An excellent post Mugsgame and I am sure very helpful to beginners and improvers as I am sure a lot of us get confused with the mass of information in a market and the various charts ..
I have recently simplified my approach to the markets and as a result have had more success in a small way and continue to improve

[LeTiss]

Much has changed within the trading world, since Mugs posted that. However, the bedrock still applies. That especially includes being selective. I've never been a racing trader really, I've always been sports. My knowledge on racing is poor, my interest on racing is low, and as a result I quickly lost confidence when getting battered around.

These days, racing accounts for about 5% of what I do, but that's because I know what works for me, and what markets

[esanlon]

Got my software 3 weeks ago bought professional and the 39.99 learn to trade videos done everything suggested in the lesson's , down about 330 pound over all. I must be doing something wrong but it does not work for me. Have uninstalled it now lesson learnt.