Betfair trading strategies : Newbies Trading in the Dark

Interested in learning to trade on Betfair. Check out this section for advice, knowledge and discussion on trading strategies.
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Zenyatta
Posts: 1069
Joined: Thu Mar 11, 2010 4:17 pm

Sat Sep 24, 2011 1:16 pm

Ferru123 wrote:I can't believe that you're seriously advocating having an unlimited downside!
Read what I said. Pre-race the maximum downside (in practice) is 15-20 ticks, because the prices rarely move further than that (although occasionally it does happen).

I just dislike the stop-losses because I've been screwed over so many times. Inevitably the price eats through my stop-loss, only to come back again most of the time.. there is nothing more frustrating.

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

Sat Sep 24, 2011 1:24 pm

Zenyatta wrote: Read what I said. Pre-race the maximum downside (in practice) is 15-20 ticks, because the prices rarely move further than that (although occasionally it does happen).
You advocated having no stoploss - I don't think I misread you.

Does anyone have any stats on how often markets move more than 15-20 ticks?

You didn't answer my question re. your upside - Do you aim for x ticks, or do you just let the market do its thing and close just before the off?

And how do you manage your staking?
Zenyatta wrote:I just dislike the stop-losses because I've been screwed over so many times. Inevitably the price eats through my stop-loss, only to come back again most of the time.. there is nothing more frustrating.
There is actually - I find it more frustrating for a small loss to become a huge loss!

A trader I know once came up with an analogy. If your car is rolling down a hill, do you apply the brakes or just hope it will stop rolling? If the trend is making me money, my foot will be going nowhere near the break pedal. But if I'm losing money, I'm not going to rely on gravity being kind to me! :lol: And given the way trends self-perpetuate, that is a good metaphor.

Jeff

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

Sat Sep 24, 2011 2:12 pm

Zenyatta wrote: Read what I said. Pre-race the maximum downside (in practice) is 15-20 ticks, because the prices rarely move further than that.
I thought I'd keep an eye out today for such moves, to see how rare they actually are.

I found one in the 14:10.

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

Sat Sep 24, 2011 3:28 pm

And another!

Personally, I wouldn't ride a trend like that to the top for a big loss, when my potential upside was a single tick scalp! You'd have to have an eye-wateringly high strike rate to make it pay! :)

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

Sat Sep 24, 2011 3:39 pm

You'd have just and so managed to keep your shirt with this unfortunately named horse, but for me it would be a bit too much stress for a single tick gain. :)

Jeff
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No Sea to Rough
Posts: 27
Joined: Sat Sep 10, 2011 6:11 pm
Location: East Midlands

Sun Sep 25, 2011 9:47 am

Dear All,

I just want to say as a newbie to BA and the forum trying to make a consistent profit is a minefield.

Thanks for all the constrictive and helpful advice.

redeagle60
Posts: 3
Joined: Fri Nov 09, 2012 9:08 am

Fri Nov 09, 2012 9:15 am

Essential things to remember in trading...
What goes up..must come down..and what goes down must come up, make the best of these trends and dont get greedy.

Reading charts whilst trading is essential, If you get into a maze youll have trouble finding your way out, But with some sort of map it would help you alot more, Its the same thing here.

Look out for big money that effect the market..this may drive the trend up/down but will suddenly return to its original position.

good luck

PeterLe
Posts: 3377
Joined: Wed Apr 15, 2009 3:19 pm

Fri Nov 09, 2012 2:09 pm

redeagle60 wrote:Essential things to remember in trading...
What goes up..must come down..and what goes down must come up,
Not always! :)

hgodden
Posts: 1759
Joined: Thu Apr 16, 2009 2:13 pm

Fri Nov 09, 2012 2:13 pm

PeterLe wrote:
redeagle60 wrote:Essential things to remember in trading...
What goes up..must come down..and what goes down must come up,
Not always! :)
Good point, there are few unbreakable rules in this jungle ;)

freddy
Posts: 1132
Joined: Sun Aug 01, 2010 8:22 pm

Fri Nov 09, 2012 3:37 pm

redeagle60 wrote:Essential things to remember in trading...
What goes up..must come down..and what goes down must come up, make the best of these trends and dont get greedy.
Please tell me which markets these are
it must be really easy to trade them :D .

If you would have said what goes up very often comes down i would have agreed ;)
redeagle60 wrote: Reading charts whilst trading is essential, If you get into a maze youll have trouble finding your way out, But with some sort of map it would help you alot more, Its the same thing here.
Helpful to some people but not essential.
redeagle60 wrote: Look out for big money that effect the market..this may drive the trend up/down but will suddenly return to its original position.
Agree :D
Last edited by freddy on Fri Nov 09, 2012 3:49 pm, edited 2 times in total.

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