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  1. 4 points
    I can only speak from my experience as an "ex" pro poker player (I am new to trading); but the advice mirrors the sensible advice already given above. I cannot tell you the amount of times I have seen people lose hundreds, and even thousands of dollars chasing a measly $10 because it would mean hitting their preset target of say $100. Chasing losses is even worse as I'm sure you know. I played if the conditions were right to sit down and play. In other words, if I had an edge in the game, I would play, and I would continue to play as long as that edge existed, regardless if I was losing or winning.
  2. 4 points
    STOP! STOP! STOP! STOP! - Seriously stop right there! Goals and targets are a really really bad idea, goals just create emotion. This is because you are going to either excel or under achieving simply due to variance in the short term, this doesn't matter how good your strategy is... Ever professional trader know this! Trading and advantage play of any type, is NOT about short term goals, win and loses!!! It's about the long term! In the long term, variance will always even itself out due to the law of big number. If you focus on the short term you will let your emotions rule (due to winning or losing short term) and this will in turn cause you to make emotional errors and be a lot less focused and less successful than you could of been.... I would recommend...... Turn your balance off, don't even look at it. Trade to your best of your ability according to your strategies and Never break your given strategies rules. Do this for at least a thousand trades as a bare minimum and in that time just try not to lose money. Protect your bank at all costs..... if you do this, the profits will come to you....what those profits are, will then depend on your mindset and not the market.
  3. 3 points
    I don't set any targets. I simply try to be as consistent as I can. If I have a winning streak I don't increase my stakes because I know my results will regress back to my mean in time and likewise if I have a losing streak I don't decrease my stakes because again I expect the results will go back to my average wins to losses ratio.
  4. 3 points
    Personally, I don't use plans or goals anymore. I just do my best in every market and I accept the result. Sometimes, pushing too hard to reach the goal does result in making too risky decisions. I only focus to act according to my rules in the market. If I act according to my rules, the result is usually good.
  5. 3 points
    Hello Sardo, I am glad to see you giving sports trading a try and documenting your journey. I hope you to continue documenting and experimenting. Good luck and steady hand 👍
  6. 2 points
    Вопрос к Томасу и другим участникам. Вы ставите перед собой цель - заработать так много и остановиться? Например, у нас есть план по увеличению банка на 50 долларов США на 4%, ежедневный план заработка на 2 доллара. В среднем, есть 20 гонок в день, что означает, что на каждую гонку вам нужно зарабатывать 10 центов. И как только торговля на гонке приносит 10 центов или более, вы можете сразу же хеджировать прибыль и переходить к другой гонке. Имеет ли это смысл в такой финансовой стратегии или лучше всего использовать каждую гонку? Тогда в какой момент лучше остановиться на каждой гонке и вообще на торговой сессии? ------------ Question to Thomas and other participants. Do you set a goal - to earn so much and stop? For example, we have a plan to increase the bank by $ 50 by 4%, a daily earnings plan by $ 2. On average, there are 20 races per day, which means that for each race you need to earn 10 cents. And as soon as trading on a race earns 10 cents or more, you can immediately hedge profits and move on to another race. Does this make sense in such a financial strategy or is it best to use every race? Then at what point is it better to stop at each race and generally at the trading session?
  7. 2 points
    Hello! I apologize in advance for my English - Google translator is my best friend so far ... I am from Russia, on the forum you have here so far only one member has seen from our country. But there are many from Ukraine and Belarus. I’m not a stranger to betting - for almost two years now it has been working quite well with bookmakers. But I decided to try scalping and generally trade on the betting exchange. Some experience already exists in this matter. He studied some materials from Kaan Bera - it is very difficult to understand. There is also a major scalping video training from another author. But with Thomas everything looks much easier and more accessible. So I'm starting to get used to it! Thomas, separately you respect for the challenge where you increased your bank 50 times in a month !!! It is very cool!
  8. 2 points
    This may be my final entry in this blog series as I'm unsure if I'm still a newbie at this stage though I've only yet completed 1/4 of my learn to trade journey as I gave myself 2 years at the beginning. It's taken 6 months to reach an overall profit from trading. That is I've now won back the small amount I lost in the first 2 months the few times I ventured out of training mode, some minor expenses, and the lifetime subscription to Geekstoy which I opted to pay for from the start.
  9. 2 points
    Hi, I have some free time and it occurred to me to try my hand at sports trading as it is something that always fascinated me. I have some experience in trading financial markets (not particularly successfully), my sports betting experience is limited to educated guesses on the outcomes of big games. I watched videos by Caan Berry and a few others on scalping last night and made a few experimental trades, today I traded pre-race horse-racing markets for most of the day. Attached are the results of using £2 stakes. Got lucky on my first race. My approach is probably unorthodox, I am predicting the direction of a move rather than backing and laying simultaneously. I will try and explain in more depth if I survive long enough. The reason for starting this thread is to document my progress. Thanks for reading.
  10. 2 points
    Agreed. My approach has been to trade the UK horse-racing well in advance of in-play. By ten minutes to go things are getting too hot for me and I am off. Thanks for the welcome, I shall take you up on your offer of help = )
  11. 2 points
    Hello and welcome @Sardo I started as a complete novice to order flow trading last June and for the first 2 months stuck largely to practice mode as I was rubbish. I switched to real trading in the 3rd month as I started breaking even. I found patience and discipline were the key to improvement - not pressing the button until the set up I was looking for manifested itself. I thought the low liquidity market of US horse racing very helpful then as it moved more slowly than greyhounds and this gave me a chance to study how markets moved without feeling so panicky. US horses also has the advantage of video without placing a real bet. I was then able to start trading greyhounds regularly and have been making a small but steadily increasing profit ever since. It's now almost 6 months and I'm still on quiet small stakes and have barely touched my ultimate destination of UK horses yet as I feel low liquidity markets are easier to learn on once you get used to them. I'm taking a conservative approach but it's saving me blowing my bank as so many newbies do. Anyway good luck if you've any questions that I can answer I'll try to help.
  12. 1 point
    Thanks @Tomas I started with realistic expectations so I'm very pleased with the slow but steady progress I've made. I've no doubt I'll need the full 2 years I gave myself from the start if I'm ever to progress onto making real money in the big boys playground of UK horse racing. Time will tell but I've really enjoyed it thus far so I'm happy to patiently wait and see what happens.
  13. 1 point
    So you have cracked it, congratulations! I think that more people would be interested on how you are doing in the future. Any future updates are still welcome
  14. 1 point
    Hello Shreik, welcome to sports trading exposed forums 🙌 I hope you will enjoy your stay and share your progress and successes with us because if you persevere long enough they will come to you that is for sure 🙂 You mentioned betting background. Do you just place bets based on stats or are you doing matched betting?
  15. 1 point
    HI Guys, I often match my own bet in a gap in the market exactly like what you are seeing . My reason is simply, to qualify for Betfair video - Could this be the reason? All the best Jay.
  16. 1 point
    Hi Sardo I'm not sure if it's possible to scalp greyhounds and US markets the same way you can scalp UK horse markets, or maybe U/O goal markets, but there are other ways to trade these markets, as Tomas shows in his videos. Personally, I struggle with greyhounds, even though I can see opportunities - I suspect a lot of activity in greyhound markets is from 'bots', and I can't compete with that. Caan and others make scapling look easy - and in the right market it can be easy, but the price can suddenly and quickly go against you. If you can predict the direction of the market (and be right more often than wrong), then swing trading is a safer option - at least that's my opinion, and how I usually trade Cheers, and happy trading!
  17. 1 point
    I concentrated on the hounds in October to try and achieve the consistency that would allow me to finally increase my stakes. Unfortunately I finished the month on the same tiny stakes I began with as when I did increase, and had a losing run, the increased level of losses would see me hesitate to open a position so I would invariably go back to the near minimum stake I was used to. I did however improve my consistency and this saw me double my profit over last month so I was pleased that I took another step forward. Newbie to Newbie Tips If you want to try out Geekstoy / Betangel for free longer than the 2 week trial period simply download the Betdaq version which is completely free. Unfortunately the Betdaq version doesn't come with practice mode but Betdaq officially allows minimum bets of 0.50, four times less than Betfair.
  18. 1 point
    September started well but I hit a rough patch about mid way and seemed to be going backwards so I cut my stake back to bare minimum and tried to find some consistency in results and style. Overall I'm happy that I made further progress and I hope to be able to gradually increase my stake again in October. @Tomas I read your entire 25 challenge blog. Amazing how you built the bank. Like magic to someone at my level 🙂. You mentioned that you posted some greyhound videos that were subsequently deleted by Youtube. Would it be possible to post up these or any other greyhound vids again? You're already providing lots so if you're too busy don't worry about it. Newbie to Newbie Tips I know sooner or later I'll sustain a big loss from being caught in play. To reduce that probability I do the following at the start of each trading session. On my desktop PC I keep Betfair open on the cashout page - in case of a geekstoy crash I keep the following page open to check Betfair for problems - https://status.developer.betfair.com/ I also keep the cashout page open on my tablet - in case of computer crash I don't do this but I've read Tomas suggest keeping Betdaq open to quickly use to offset liability in case of a Betfair crash If I ever make any money at this I'll invest in what seems the best protection - a 4G enabled device and I'll keep that open on the cashout page
  19. 1 point
    You've learnt in 3 months what took me 5 yrs: Learning not to lose longer-term. Next step for you here is to increase your selectivity. Analyse your successful trades and also your worst trades and start getting rid of all the naff entries. I can't say for certain as I haven't seen your trading style but on small stakes you should be doing much better in the gh mkts as people give away a lot more value with their fivers and tenners than they do with bigger stakes. Try to prioritise entries which are safer but less likely to get matched. On the bets that get matched you can keep a real right stop if it goes wrong most of the time and if it's starts randomly working in your direction you can hold it. You'll get fantastic risk / reward and a few of those trades is better than 1000 breakeven trades for a fraction of the effort.
  20. 1 point
    Hey guys, after nearly 14 days trading greyhound markets more intensively I have decided to begin my trading diary right here on this lovely forum. I plan to post my every single trading day results so you won't miss any progress. DAY 1 2.11.2018 Markets traded: 11 Profit: -£5,06 Bank: £29,67 Commentary: I had profit +£2,25 when In market with another profit around +£0,41, remained on ladder, because market was unexpectedly suspended and I lost of course.
  21. 1 point
    In this video, you can see how profitable it can be to use the IP SP option in Geeks Toy in certain situations. The day I recorded the video, there had been a punter who always wanted to match his big bets at Starting Price. He was simply following the same pattern in all of the races and I was pretty sure that was the case again – so that’s why I decided to close my position with Starting Price, too. Watch these daily patterns. IP SP 200 (VOICE & END).mp4 Description: 0:09 – 0:27 – I’m prepared to close my position. My cursor is on the Lay side, just a single click from exiting the trade. 0:29 – I’ve decided to increase my position with another Back bet. 0:30 – 0:44 – I was still prepared to close my position if the market would go against me. My cursor was on the Lay side. 0:48 – I’ve placed my Lay bet. Then I clicked the right button and made that bet an IP SP bet. In this way, you can be sure your bet will be matched at Starting Price. 0:50 – 1:08 – I did drag the bet and was prepared to immediately scratch the trade if the market would go against me. 1:10 – I wanted to make sure the bet is really set to take Starting Price. It’s better to check twice than accidentally let the market go in-play with an open position. 1:14 – Profit £209 versus just £13, which I would have had if closing the trade pre-race. The market is live and my Lay bet was matched far below the price @6.20, which I did set up at 0:48. 1:16 – 1:30 – I’m finishing the trade by hedging. Back to IP SP - Starting Price ↑ An interesting highlight in this video is that the punter was also on the second favourite horse. If you stop the video at 1:07, and watch the second favourite horse Lincoln, you can see the last traded price was @3.80 and the last traded amount was £5,044. That means the price went down from 6.60 to 3.80. That was a huge potential for a profit. I just noticed this situation when editing the video. < PREV | HOME | NEXT >
  22. 1 point
    There is always someone trying to fool you in the market and they try many different techniques to do that. They must be smart because once you recognize them, you basically take their money so they have to adapt again. But what you describe is a quite usual pattern, easy to recognize. As traders, we have to see the real people behind those numbers, and try to understand how they may think. Unfortunately, it's a battle for money between all of us.
  23. 1 point
    I have lost money in live mode, so today decided to use practise mode where I never had a single loss. 11 wins from 11 races. Typical eh! When I first saw spoofers, I wasn't keen on them. But am learning to use their money to my advantage. With only a few hundred in the markets, someone offered a back bet of 3, 4, or even a 6k bet at any time on the favourite. This will drive the price down. When the money was levelling out, I layed at the bottom of the range, anticipating the big back bet to vanish. Vanish they did, the odds drifted up and I can hedge for a profit. Normally aiming for 1 or 2 ticks. Caught 3 ticks on one occasion. Sometimes a spoofer might offer 3 lots of 1k bets trying to fool the punters that the horse is naturally getting backed in. This type is harder to decide whether the money is genuine or spoof. After watching many markets, you get to recognise certain patterns. I have noticed that spoofers tend to be more active when the favourite odds are between 2.0 and 4.0
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