Betfair scalping for beginners

We were all new to Bet Angel once. Ask any question you like here and fellow forum members promise not to laugh. Betfair trading made simple.
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ruthlessimon
Posts: 2094
Joined: Wed Mar 23, 2016 3:54 pm

Ferru123 wrote:
Sun Sep 10, 2017 12:40 pm
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
Posts: 11
Joined: Tue Sep 19, 2017 12:29 am

Where can I view the post from mugs. Do you have a link. Newbie to forum
:D
Bluesky
Posts: 420
Joined: Mon Sep 19, 2016 9:26 pm

thebarra1 wrote:
Tue Sep 19, 2017 7:28 am
Where can I view the post from mugs. Do you have a link. Newbie to forum
:D
Click on this link it's the third post down.
http://www.betangel.com/forum/viewtopic ... &start=160
Xandolli
Posts: 5
Joined: Wed Jan 24, 2018 7:03 pm

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
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

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
Posts: 5
Joined: Wed Jan 24, 2018 7:03 pm

Ah thank you very much. That is exactly the case. This makes scalping more difficult, that delay can be a killer :(
threedogs
Posts: 79
Joined: Mon Jan 20, 2014 10:24 am

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 ;)
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

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
Posts: 5
Joined: Mon Apr 30, 2018 4:33 pm

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.
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Dallas
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Location: Working From Home

esanlon wrote:
Mon Apr 30, 2018 11:28 pm
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.
Just 3 weeks?

viewtopic.php?f=17&t=15377
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jimibt
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Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

esanlon wrote:
Mon Apr 30, 2018 11:28 pm
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.
you need to realise that the software only acts as a bridge between you (motivation, imagination and intelligence) and the market. it does of course execute the instructions you have fed it faster than using the BF web interface, thus further amplifying the *bridge*.

i'm afraid to say, that all you've highlighted in your post is that you are both impatient and naive. it would seem that you are expecting the software to act as a one armed bandit. i'd think a better analogy would be to compare giving two individuals a copy of microsoft office. one produces a final work called "Harry Potter and the Chamber of Secrets", the other produces a to do list that gets laminated and stuck on their fridge...

no pun intended, horses for courses.
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Hi Esanion

Sorry to hear that. If it is any consolation, many people habe lost far more.

I would suggest is using £2 stakes until you are sure you know what you're doing.

Also, bear in mind that Betfair videos rarely tell the whole story. They often show a technique being demonstrated without telling you exactly why the technique was suitable for that market. The same technique may fail horribly in other situations.

Also, while some people swear by one tick scalping, it is unsuitable for most markets in my opinion, and my guess is that very few people can make it pay outside of Grade 1 races (top quality races like the Grand National).

Jeff
esanlon wrote:
Mon Apr 30, 2018 11:28 pm
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.
esanlon
Posts: 5
Joined: Mon Apr 30, 2018 4:33 pm

jimibt wrote:
Tue May 01, 2018 9:15 am
esanlon wrote:
Mon Apr 30, 2018 11:28 pm
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.
you need to realise that the software only acts as a bridge between you (motivation, imagination and intelligence) and the market. it does of course execute the instructions you have fed it faster than using the BF web interface, thus further amplifying the *bridge*.

i'm afraid to say, that all you've highlighted in your post is that you are both impatient and naive. it would seem that you are expecting the software to act as a one armed bandit. i'd think a better analogy would be to compare giving two individuals a copy of microsoft office. one produces a final work called "Harry Potter and the Chamber of Secrets", the other produces a to do list that gets laminated and stuck on their fridge...

no pun intended, horses for courses.
You seem to be pretty arrogant defending the software? you don,t own it do you?
esanlon
Posts: 5
Joined: Mon Apr 30, 2018 4:33 pm

Ferru123 wrote:
Tue May 01, 2018 9:45 am
Hi Esanion

Sorry to hear that. If it is any consolation, many people habe lost far more.

I would suggest is using £2 stakes until you are sure you know what you're doing.

Also, bear in mind that Betfair videos rarely tell the whole story. They often show a technique being demonstrated without telling you exactly why the technique was suitable for that market. The same technique may fail horribly in other situations.

Also, while some people swear by one tick scalping, it is unsuitable for most markets in my opinion, and my guess is that very few people can make it pay outside of Grade 1 races (top quality races like the Grand National).

Jeff
esanlon wrote:
Mon Apr 30, 2018 11:28 pm
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.
Thanks for the consideration, it's not the BF videos I purchased it's the it's the BA ones, just felt they were a bit of a rip off
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

I wouldn't stress over it, esanlon, it's a sunny day go buy some football boots and next week you could be playing for Man Utd, soon get the money back.
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