Betfair trading strategies : This helped me...

Interested in learning to trade on Betfair. Check out this section for advice, knowledge and discussion on trading strategies.
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RentonT
Posts: 186
Joined: Tue May 19, 2015 12:26 am

Wed Jun 10, 2015 12:34 pm

I think it's really important to have "non trading" days (DO NOT EVEN USE PRACTICE MODE), however DO watch all the markets you would normally trade.

Talk out loud or in your head, about your thoughts on the market. Say what you see, how you feel and what you think might happen. Then watch what happens and keep commentating.

This is a really beneficial exercise BECAUSE you are learning what markets do without any mental influences and biases based on any open positions you have. It is so much easier to accept when you are wrong because you aren't losing money.

Personally I like to constantly use the phrase "I could be wrong here" during every trade. This helps dealing with moves that go against you better, and cutting losses. But do stay positive and even if a trade goes into the red, if your seeing the signs around the market you want to, stay positive.

WAIT FOR CONFIRMATION BEFORE DECIDING is something that I always try to follow.

Believe me and try watching markets whilst not even trading practice mode.

Finally (and this is easier said than done) but try and keep an open mind to the fact that markets trade differently all the time. For instance this week my feel on the markets on Monday was great, decent swing trades all day. However yesterday it was completely different even though I thought I was seeing similar market situations. So always remember the "I could be wrong" no matter how hard it is to believe haha.

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vladilyich
Posts: 121
Joined: Fri Jan 22, 2016 6:58 pm

Thu Feb 04, 2016 3:08 pm

'Talking out loud' is a problem for me as I am stuck in the corner of my living room and I annoy my kids while they are watching the television. :lol:

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