advice would give myself as a newbie 2024 :
-learn all about volatility ,correlation and human behaviour.
-look for it in the trading ladders.
-automate a personalised indicator which gives you an entry and exit point.
-apply randomly.
-cut out less profitable markets/market selection.
-stake high on best performing markets and reduce stakes on poorly ones.
in the mean time.............
get yourself a TPD subscription and trade/bet on long distance markets especially Hurdles /jumps .
this should cover the costs of learning i.e all subscription costs .
Potential earning
I am still strictly a novice, money wise I would have been better off in a sweat shop, but I have broken no banks and clawed back huge loses from going in play. What I would suggest is use BetAngel to collect data, the more the better. Also keep track of all your bets even those big losses, you may find when you analyse your own stats, that you may well find out that you are making money (or lose less) with Football, for example, then you can hone your skills in on that sport.
I think tho the main thing is you have to enjoy the grind that comes with this, if your not prepared to put in the hours behind the scenes then I think you are destined to be an also ran. You also need to know what suits you, I spent 2yrs trying to trade and I got nowhere, so I went to straight value betting and that suits me, I go inplay now because that is my strategy, no more big losses in fact now I am making a profit with small stakes.
One other thing is to read the forums and watch all the video's, no one will give you their edge but they do say things that will give you an idea to try. I mean on the forums there is a wealth on knowledge ranging from top trading tips to bowel movements, so if you can't find anything in that range, maybe this is not the game for you.
No claiming to be an expert but this is what has helped me
I think tho the main thing is you have to enjoy the grind that comes with this, if your not prepared to put in the hours behind the scenes then I think you are destined to be an also ran. You also need to know what suits you, I spent 2yrs trying to trade and I got nowhere, so I went to straight value betting and that suits me, I go inplay now because that is my strategy, no more big losses in fact now I am making a profit with small stakes.
One other thing is to read the forums and watch all the video's, no one will give you their edge but they do say things that will give you an idea to try. I mean on the forums there is a wealth on knowledge ranging from top trading tips to bowel movements, so if you can't find anything in that range, maybe this is not the game for you.
No claiming to be an expert but this is what has helped me
Well done. This is exactly when you know you've learned and improved enough, when you actually come full circle. Same markets but very different eyes.
When I mentioned "fog of war" earlier I meant uncertainty really.
Because when you first start there is just so much uncertainty everywhere, everything is fog of war if you think about it. To expand on this analogy a bit more you basically hotdrop into a virtual battlefield with minimal visibility into market conditions and into your own abilities even, so what else can you do but get slaughtered by all the veterans.
You can barely think straight from all the emotions and brain chemicals running through your head, let alone formulate a plan for survival with this level of uncertainty.
But you have to experience all possible market scenarios and situations including all the emotional highs and lows etc, you have to test your mental, that's how you dispel some of that fog of war, and more importantly it's how you learn to pick your battles more wisely.