You have to understand & practice trading as a game and not as a stressful fight for money. You play to achieve a good score, not to earn as much money as fast as possible. Keep calm and be slow, but steady. The best advice I can give you in order to succeed in Betfair trading is to build up your bank from a small deposit. Whether it’s £20 or £100, there is no need to risk more money, especially if there are many experienced sharks who will do all they can to get this money from you.
The first thing you have to do is learn trading with small stakes (but remember – before that, you need to learn to use Geeks Toy in Training Mode). I would recommend £2 as your first stake. Don’t use lower stakes on Betfair because lower stakes are placed into the market 3 times slower. Betfair’s minimum bet is £2 but there is a little workaround in order to place bets as small as £0.01. Geeks Toy does everything automatically, so you don’t have to worry about it. Such a small bet is placed using three sub-bets, which makes the process 3 times slower than placing a bet of £2 or more. Just start with £2 as your default stake. If you can learn to trade with this stake, you can slowly and steadily increase it. This is the only way to create stable and perpetual growth of your bank.
This approach has two advantages:
Trading with money that’s built up from (almost) nothing is much less stressful than trading with your monthly wage. Trying to have no losses in your trading is always counterproductive. Losses are an inevitable part of trading and being able to accept a loss is as important as creating a profit. Successful traders are earning money not because they’re always right but because they can accept the loss quickly and without stress. Accepting losses is much easier when you have a bank that was built up from very little money.
When you’re learning to trade with little money, and you haven’t yet achieved success, you don’t risk a big loss. You can always trade with little stakes until you start making a profit. And again – you can do this much easier with a small bank because accepting losses is much easier. I know it can take a long time but patience is the key to success.
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