Quit my job to do this as a living!

[blackmoor83]

First post on this site I have been on betfair for a good 12 years now which has been a roller coaster ride!

Until the past six months it’s mostly been a tail of doing ok for a bit then blowing my bank this pattern repeated for years with bouts of giving up.

Recently I have managed to avoid these past mistakes and have now just fired off the resignation letter! I had a job which many would be happy with only cabin crew for an airline but generally didn’t work more than 10-12 days a month for a decent wage although unsociable hours and not knowing from month to month what days I will have off etc!!

The main reason I have quit is over the past six months been earning on average 5k a month with footy trading. Could be more but my job has got in the way plus renovating my house!

I guess I’m just seeing if anyone else has gone down this route and would appreciate any advice. I have kept this from my family & friends as I thought I needed to do 6 months to prove to myself I can do it!
I’m in a fairly lucky situation in the fact I don’t have a mortgage so this is another factor in giving this a real go! I’m hoping to spend more time on the golf course & tennis courts and making this a huge live changing experience!

Obviously there are some worries one being in the future the premium charge and mortgages etc! Have any of you guys used betdaq on a regular basis? I have looked at the site but at present it doesn’t really have enough volume for the market in trading in which is almost solely the correct score market.
Any replies greatly received positive & negative!

[Dave C]

Good luck friend

When you say 5k a month, has this been over some time or just a couple of "lucky" months?

Edit: you did say over 6 months.

Well if it's more than you're current job and you feel confident then go for it. I'm nowhere near full time but when and if I do I want to have 6 months living money behind me. I guess as well going full time puts extra pressure on your trading as you always had a salary to fall back on.

[SeaHorseRacing]

Dont worry about the premium charge.

Yes, who really wants to be taxed but it doesn't stop you earning a very decent living.

I think a lot of traders enter the game for the big sums, I soon realised that it is far better to trade to live... rather than live to trade. Think of other benefits rather then large profits, if you want to make real serious money, I would honestly recommend night law/medical school. 6/7 years down the line go for consultant or barrister.

For me, I wouldn't be capable of either jobs and Id rather make dough sat on my ass at home. Some days i particularly lately I dont even get dressed.

If anyone out there gets to where they want, enjoy the fact you don't have to leave the house and you can pretty much do as you please. I used to trade everything, I haven't traded for 3 days... but I am still expecting to make more this month then I would mucking out horses for 3/4 months work.

[SeaHorseRacing]

Additionally, although I know I dont make the sums some others do, I don't pay anything near the 40% premium charge most people talk about.

Sounds like you already have a good job, if you want a better lifestyle and know you can at least match your income, I say go for it. Right, too many beers to continue now. Enjoy.

[blackmoor83]

Thanks for the replies well my now old job was only clearing around £1700 per month although that’s not bad for 10 days a month! Plus the months paid holiday etc!

The biggest change was not blowing the bank! Obviously I trade correct scores if a match ever gets close to losing I take a loss rather than hope a particular team doesn’t score etc!

I am putting on trades around the 4-5k mark mainly on 3-3 score! If a match gets to say 2-2 that’s usually when I exit! So far have traded around 800 matches the biggest loss was an Aussie match finished 3-2 I took a £400 loss when it was 2-2 after 50 minutes.
This match was funny as if I left it would have won! But it was a turning point for me as I watched the game as all the matches I only trace games I have access to live feeds! In the 88 minute the away team hit the post still I was happy with actually learning to take a £400 loss instead of a potential £5k loss which is a months work!
The £400 was made back the following day which was a Saturday so lots of matches!

I’m still looking at what I’m typing and thinking as I mad etc! So out of 800 trades only around 17 losses ranging from £10 to the max of £400.
Working it out as I love my stats and numbers I’m average on sucesfyll trades around £40 per match give or take!

[weemac]

What makes you such a good trader laying 3-3 draws? Better than all the other traders out there? How can life deal you such an easy hand, but not me?

Because making £5k a month surely puts you among the elite.

The 'creme de la creme', and no mistake!

[blackmoor83]

What makes you such a good trader laying 3-3 draws? Better than all the other traders out there? How can life deal you such an easy hand, but not me?

Because making £5k a month surely puts you among the elite.

The 'creme de la creme', and no mistake!

Before these last 6 months I have lost thousands over the previous 12 years. Obviously I’m not saying I’m a genius etc but the biggest change is taking losses and actually feeling pleased to take them now!

I don’t go for every match out there I do look at previous form but the biggest thing is it has to be live or a stream as I watch all the matches. Basically only feel like a lightbulb went on 6 months ago so a wasted 12 years but hopefully the next 12 will be a positive outcome

[weemac]

Good luck. You'll need it, laying 80/1 shots to eye-popping liabilities in markets where liquidity evaporates in volatile circumstances..

[blackmoor83]

Good luck. You'll need it, laying 80/1 shots to eye-popping liabilities in markets where liquidity evaporates in volatile circumstances..

Thanks I find enough liquidity for up to 5k of liability.... obviously the biggest loss was the Aussie match I mentioned. Not the biggest match and was easily able to trade out of the game I know it sounds a lot but £5k liability isn’t huge for the market. My view is as long as I never let matches run to say 3-2 or 2-3 I’m unlikely to be taking more than a £1500 hit.

This scenario would need the match to be at this score after 45-55 minutes roughly then the odds would be approx 2.7 to 3.7 thus giving a cash out scenario of around 1-1.5k loss...
all about taking the small losses when they come around.

[weemac]

OK, but what I'm getting at is this:

Why can't anyone do this for similar returns?

The market doesn't just give people £5k a month. So what's different about your approach? Taking losses ( or not) doesn't differentiate to the tune of 60 grand a year tax free. It never has done and it never will.

There must be something special about your strategy. What's the missing piece in the puzzle?

[max_usted]

What makes you such a good trader laying 3-3 draws? Better than all the other traders out there? How can life deal you such an easy hand, but not me?

Because making £5k a month surely puts you among the elite.

The 'creme de la creme', and no mistake!

Before these last 6 months I have lost thousands over the previous 12 years. Obviously I’m not saying I’m a genius etc but the biggest change is taking losses and actually feeling pleased to take them now!

I don’t go for every match out there I do look at previous form but the biggest thing is it has to be live or a stream as I watch all the matches. Basically only feel like a lightbulb went on 6 months ago so a wasted 12 years but hopefully the next 12 will be a positive outcome

So are you just laying the scoreline '3-3'? If you are only using one strategy, do you ever feel the temptation to deploy it even though your mind kind of recognises that the match characteristics aren't suitable? This is a problem I came across.

Will be great to hear how you get on and congratulations on taking the plunge -

[max_usted]

OK, but what I'm getting at is this:

Why can't anyone do this for similar returns?

The market doesn't just give people £5k a month. So what's different about your approach? Taking losses ( or not) doesn't differentiate to the tune of 60 grand a year tax free. It never has done and it never will.

There must be something special about your strategy. What's the missing piece in the puzzle?

This strategy will provide returns where the match is low-scoring or very one-sided. Therefore he has to find low-scoring or one-sided matches, and then it will be successful!

[weemac]

This strategy will provide returns where the match is low-scoring or very one-sided. Therefore he has to find low-scoring or one-sided matches, and then it will be successful!

Yes, I know how the correct score market works. Which, given the enhanced odds available on the 3-3 scoreline in perceived low scoring matches, makes his returns all the more remarkable.

Quite staggering, in fact.

[max_usted]

This strategy will provide returns where the match is low-scoring or very one-sided. Therefore he has to find low-scoring or one-sided matches, and then it will be successful!

Yes, I know how the correct score market works. Which, given the enhanced odds available on the 3-3 scoreline in perceived low scoring matches, makes his returns all the more remarkable.

Quite staggering, in fact.

Obviously the worry is that you might become over-enthused about a spell in which you didn't encounter any of the thumping losses that must occasionally come along.

[weemac]

Aahhhh, now we're getting to the nitty gritty.

Anyway, I'm gonna chuck it all in on Monday morning to pick up my £60k p.a. tax free for spending 90 seconds a day picking football matches, and then siting on my fat ass watching them on TV while clicking a mouse just once a week if I feel I have to.

What's not to like about that?