Jump to content

> Join our real-time trading chat on WowApp
> Why WowApp?


Popular Content

Showing content with the highest reputation since 03/02/20 in all areas

  1. 2 points
    Hey Everyone, I am CPFitness, I have just started to dip my toe into sports trading on Betfair after getting banned from most of the bookmakers. I read and watch Adam Todd's videos on Youtube multiple times. Though I am lead to believe that it isn't as easy as that now. I found SP Exposed as I was looking for a in depth resource which could support my existing knowledge. I blew a tiny bank last weekend trialling a free trial of Bet Angel think I am going to switch to Geekstoy. I will keep you upto date with my process. Cheers CPF
  2. 2 points
  3. 2 points
    I am recording with Bandicam. Free version records very well, but only for 5 minutes. So it may be enough for greyhound trader 😊 Paid version can record forever or until you have space left in your harddrive
  4. 2 points
    Hi everyone, Thought it was time to register and introduce myself. I'm from the UK, and have been trading pre-off horse racing since January 2019. I've had some success in that time, but never any consistency. Some profitable days (my highest day's profit was £31), but more often than not I break even or end the day in a loss. Largely, I think my lack of success is down to trading an ineffectual strategy (which I learned from an online course I won't name). So, I decided it was time to expand my market knowledge and try something else. I've studied quite a lot on the psychology of trading, and have definitely improved in that regard. However, I think a fundamental lack of knowledge and poor strategy has been holding me back. I found this site at the end of last year and have finally gotten down to reading it all the way through. It's been very helpful, and I feel I understand a lot that I previously didn't. Particularly, I'm interested in learning swing trading and trend trading, as I think those suit my personality more and seem like the best way to get the risk to reward or profit and loss ratio right (big gains and small losses). Anyway, enough rambling from me!
  5. 2 points
    Hi Tomas, excellent info so far, although I am a beginner trader, trading football at the moment as its better for me to learn 1 sport at a time and football is my favourite, I just wanted to say that I am using vlc player to make my screen recordings as vlc is 100% free. Thank you for sharing all this valuable knowledge
  6. 1 point
  7. 1 point
    My trade is more for a beginner. I do not pretend to be called a professional trader. Maybe someone will take for themselves some ideas or tell their thoughts. I will be very grateful. Here I save my videos: ScorchTrading
  8. 1 point
  9. 1 point
    Hi @Adam, yeah corrections happen in trending markets as well. If you spot the trend, correction is a good place to enter the market.
  10. 1 point
    This was a very important part of my trading in first few years. I used to always record my screen when trading and analyse it later. I recommend you to do the same because I know it can help you to improve a lot. You will gain very useful insight when you see the market and its behaviour combined with your own actions. For example, you can see you’re reacting too hasty to moves in the market or that you’re buying too high & selling too low in certain situations. The first step to improve your trading is always done through awareness of your own mistakes. Then you can move on to fixing them. For recording my screens, I use Camtasia Studio. However, it’s a paid software that I also need for editing my videos. I think you can definitely find a free alternative these days. Another advantage of recording your own trading is that you can see your progress over time. Watching an old video where you made lot of mistakes that you’re not doing these days is a very positive boost to your trading career! < PREV | HOME | NEXT >
  11. 1 point
    I'll also add that I've been recording with the free software Flashback Express for the last few months and I've found it produces a high quality video.
  12. 1 point
    It's easy! Exclusive content is only available to valuable members of this community. In other words, those who give back are rewarded for their contributions. In order to view exclusive content, you need to become a Do-gooder at minimum (Do-gooder is a reputation level). How can you achieve this? Simply follow these steps: If you are not a forum member yet, register now. Once you are registered, you can introduce yourself. Post some valuable or informational content, either on the forums or create your own blog. If your posts are good, you will receive likes from other members of the community. Once you have 10+ likes on your posts, you become a Do-gooder and you can immediately access exclusive content! No idea of what to post? you can ask meaningful questions you can share your knowledge you can create polls you can write about your trading journey you can start your own trading blog you can add important sport events into the calendar ... Just remember - bullshit won't get you to the promise land. Be real, helpful, informative... And you will be rewarded.
  13. 1 point
    boom, you've got my like for this! Enjoy the videos!
  14. 1 point
    I'm trying to become a Do-gooder to watch the videos.
  15. 1 point
    This point is very easy, as well as being extremely important, and I strongly recommend you to follow my advice. Use only the amount of money you can afford to lose. Whether it’s £10 or £1000, it must be an amount that you don’t care if you lose or not (if you would literally burn it right now). My initial deposit in Betfair was around £25, and afterwards, I only deposited money I had earned on Betfair. This is the ideal scenario – to deposit just once and gradually build up your bank over time. However, many people report how they lost their whole bank at one time. If you really want to succeed on the betting exchange, you need to be prepared for such a scenario. Let’s say you can afford to lose £150 right now. In this case, I would recommend for you to divide this number by 3 and start with £50. That gives you a backup plan if you lose your trading bank. Our mission is to protect the bank at any cost. The bank is the most important thing you have on the betting exchange and we will do our best to never lose it. We will carefully follow a money management plan for this. But just in case – if everything goes completely wrong, you still have 2 more chances to start from scratch and be stress-free (remember, you can afford to lose this money). When I say ‘stress-free’ – I mean this is something that you need to achieve during your trading. You can’t be under pressure when trading, because it would affect your decisions. Don’t trade with money you can’t afford to lose. This will make your trading much harder, and trust me, it won’t take long for your hair to start turning grey! Your Bank = (Money You Can Afford To Lose) / 3 < PREV | HOME | NEXT >
  16. 1 point
    Geeks Toy. No other software is good enough for me. There is an entire special chapter about Geeks Toy later in the course. POLL: What is your favourite sports trading software? < PREV | HOME | NEXT >
  17. 1 point
    My Settings NEW.mp4 I love Betfair graphs and I often use them to view the overall trend of the market. Auto Refresh > 10 Seconds (1:38) – Since I often view the Betfair graph to gauge the overall trend of the market, I want it to be up to date. Inverse Axis – This will display the graph in terms of the % chance of winning. I’ve never used this. < PREV | HOME | NEXT >
  18. 1 point
    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. < PREV | HOME | NEXT >
  19. 1 point
    Trading is not about getting rich in one day. Just to give you an idea – a good trader can make a profit of a few % from his bank in a single day. Now you can compare this to a savings account where you hardly earn this in one year. I can show you an optimistic and stimulating example: if you can earn 3% from your bank each day, you should double your bank in less than a month. Be patient, deposit a minimum amount of money into your account, and enjoy the fruits of your labour next year. It’s not necessary to deposit a lot of money and risk losing it. When you’re patient, and not expect some jackpot trade, you’ll probably make it. Many people give up because they earn no money in their first few weeks (or months). But if you start trading with £20 and have a goal to double this amount by the 3rd month, you’re on the right path. I’ll give you another example: to double your £20 in 20 working days you just need to make £1 a day. If you trade 20 markets a day, this means an average of just £0.05 per market. That sounds much better, doesn’t it? Maybe you’re thinking that I’m talking about ridiculous amounts but our goal is to multiply them over time. There’s no need to rush. Markets will probably be there every day for the rest of your life. If you can learn to earn small amounts, you’ll have a much better chance to succeed in the long-term. The opportunity to double your account by placing hundreds of small bets is the best way to succeed. The opposite is to wait or hope for that one huge trade by coincidence or just luck. That’s called gambling, not trading. Don’t forget you can double your bank every month in the early months of your trading. But also remember that Betfair doesn’t have unlimited amounts of money to earn. So – you can’t double your bank infinitely. It always works better with smaller banks. Why? Because if you become too big for the market, other traders or bettors will spot you and will try to deploy strategies that will work in their favour. In other words – they’ll implement strategies that will work against you. The bigger you are on the exchange, the harder it becomes to earn the same % of your bank every month. So if you start with £20 or £200, it’s easy to double that bank in a month. But it’s much harder with £20,000 or even with £200,000. During your first few days and months on Betfair, try to find your path, try to find situations which repeat in the market, try the strategies mentioned in this book that worked for me to find out if they work for you, and find out how successful you are when trading in these situations. Be patient and get as much practice and experience as possible. < PREV | HOME | NEXT >
  20. 1 point
    Stake is the simplest staking method. When you set a stake to 100, you’ll trade with £100 and both your Back bets and your Lay bets will be £100. It’s a simple and easy thing to do but always be careful what prices you trade with your stake. Setting a default stake to £100 in the Staking & Tools window For example: Placing a Lay bet of £100 @3.00 means a total liability of £200. However, placing the same bet @8.00 means a total liability of £700. The golden rule with ‘Stake’ is to use smaller stakes on bigger prices because as a trader, you need to manage your risk in the market and keep it in an acceptable range. In other words – you don’t want to risk too much or too little. If you risk too much, you could end up with too big a loss. If you risk too little, your profits could be too small. So it’s about finding the right equilibrium. To achieve this, you need to calculate different stakes for different price ranges. Let’s say your acceptable risk in the market is £150. In this case, you should set these stakes: Price between 1.01 – 2.00 ... Stake £150 Price between 2.00 – 3.00 ... Stake £75 Price between 3.00 – 4.00 ... Stake £50 Etc. Using this method, you’ll never get over a certain amount of liability at a certain price if you consistently follow your strategy – I mean if you don’t break your rules by placing two bets at the same price, for example. To set your staking menu in Geeks Toy, watch this video. By applying the example above: £150 Lay bet @ 2.00 = liability £150 £75 Lay bet @3.00 = liability £150 £50 Lay bet @4.00 = liability £150 Etc. £150 would be your maximum liability at the top of each price range. However, your liability at the bottom of these price ranges would be much lower. It means you can miss some earning potential with your specified risk. The solution for this problem is to use more price ranges. But it also means you will have to switch stakes more often when trading. Or you can use a different kind of staking, which I use most of the time. It literally has its own stake for every price in the market... < PREV | HOME | NEXT >
  21. 1 point
    Liability is a type of staking when I choose the total amount of money I’m prepared to risk in the market. Geeks Toy then automatically calculates a bet size for every price in the market. For example – I’ve decided to risk a maximum of £100 in the market. I can then set the liability staking to 100: Setting a default liability to £100 in the Staking & Tools window Then, if I place a Lay (or Back) bet @3.00, Geeks Toy will send £50 to the market. If I place a Lay (or Back) bet @4.00, Geeks Toy will send £33.33 to the market, etc. I’ll always be risking exactly £100, which has an obvious advantage over the ‘Stake’ – I’m using my acceptable risk in the market at its fullest potential. If you want to know the formula behind it: Liability = (price – 1) * stake Or: £100 = (3.00 – 1) * £50 £100 = (4.00 – 1) * £33.33 5.4.1. Prices Below 2.00 Liability staking doesn’t work as expected when you’re trading prices below 2.00. For example: A Lay bet of liability 100 placed @1.50 means that Geeks Toy will send £200 to the market. That’s fine for Lay bets, but when you Back @1.50 with a liability 100, Geeks Toy again will send £200 to the market. At this point, you would be risking £200, which is something we want to avoid. That isn’t an error in Geeks Toy; it’s just how it works with liability staking. I always switch to ‘Stake’ using Keyboard Shortcuts when I see prices below 2.00 .In this way, I can be sure my risk at prices below 2.00 is always the size I want it. CONCLUSION: Most of the time, I only use Liability staking; I only switch to Stake when I see prices below 2.00. In this way, I can be sure I always use my preset acceptable risk at its full potential so I don’t miss any earning potential and not risk too much at any given time. 5.4.2. Liability Money Management When I’m using Liability staking, it’s very simple to set my Liability stakes. Again, watch this video to see how to work with the staking menu in Geeks Toy. Let’s say I can afford to lose £100 in the market, which is my acceptable risk. Then I would set my staking menu like this: Liability staking menu The reason for having smaller Liability stakes like £50, £25 and £10 is that sometimes I use a technique called scale out for exiting my trade. There will be more about this technique in the following chapters. Essentially, I sometimes want to gradually exit my trade in smaller parts. In this case, I use a keyboard shortcut to lower my stake and then exit the trade gradually. Or you can use a lower stake when entering a trade that you don’t fully trust. For example – there’s a situation in the market that could make you a good profit but you’re not 100% sure about it. So you lower your stake and give it a chance with a smaller amount. Keyboard shortcuts to increase and decrease your stake are very handy in this situation. They may save you precious time in a fast moving market. < PREV | HOME | NEXT >
  22. 1 point
    Money management is one of the most important things in trading. You have to be sure you’re using your capital to its fullest potential, but without risking too much. You want to be sure you won’t be kicked out the game by accident or due to emotional weakness. Setting up a specific size of your stakes is very personal and has to reflect your account balance, your level of acceptable risk and all of I have said above as well. You should strive to stay in the game as long as possible. < PREV | HOME | NEXT >
  23. 1 point
    Most (80%+) of my lifetime earnings on Betfair come from pre-race trading on the UK horse racing markets. The rest is a mix of US, Australian, Irish horse racing and Greyhound racing – all are covered in this book. UK horse racing is one of the ‘Big Three’ sports on Betfair. The other ones are Tennis and Football. I was never into tennis or football – especially because you need a deeper knowledge of these sports, players, etc. So I chose horses. I’ve found UK horse racing markets have several advantages that I’ll point out in this chapter. These are the exact same points that captured my attention when I first came to Betfair and I pragmatically decided to learn trading on horse racing. 6.1.1. Consistency UK horse racing takes place every day, which makes it the perfect choice to achieve regular ‘working hours’. Every afternoon, there are usually a minimum of 20 races with hundreds of thousands pounds in turnover. This is where you can make some money. On busy days, there are even more races with even more turnover. 6.1.2. Volume When you add up those 20 races a day, with an average turnover of let’s say £300,000, it works out to a total turnover of £6,000,000 every day. I’m not quoting accurate numbers. I’m just using very low estimates. For a trader, it’s great to have consistent access to this pool of money. In terms of volume, horse racing is one of the three biggest sports on Betfair and it’s a very large industry in the UK. 6.1.3. Volatility Horse racing markets are very volatile, even before the races start. Prices keep moving up and down, and this is another key point for a trader. In contrast to tennis or football – prices remain very static before the actual match starts. Most of the money on tennis and football are traded during the match (in-play). This makes it very hard to make a profit without possessing deep knowledge of the sport and its players. On the other hand, there is... 6.1.4. No Need to Know Horse Racing Yes, this is very important. I know very little about horse racing. In my first few years on Betfair, I didn’t even know there were two major types of races – hurdle and flat. I know nothing about horses, jockeys, tracks, conditions, connections, and whatever else they talk about on TV. All I care about when trading is reacting to the price fluctuations in the market. I only trade constantly changing numbers in Ladder. I don’t trade horse form or weather conditions, and I definitely don’t want to guess the winner of a race. < PREV | HOME | NEXT >
  24. 1 point
    For my first two or three years, I wasn’t used to seasonality. There are always less races and less money involved during the winter. For example January and February are always the months with the lowest number of races, especially high profile races. Don’t be surprised if you earn much lower amounts during the winter than in the summer. It isn’t your fault or the fault of your trading style. It’s just seasonality. Keep this in mind when progressing through the year. Seasonality also affects the times for trading. For example, the sun sets earlier in the day during winter, and therefore, the start time of the trading session is also earlier. The first races can start after 11am, compared to summer when UK horse racing starts around 2pm. I’m referring to local time in the UK. In winter, there are also more races being cancelled due to bad weather. If there are less than 3 races a day, I personally take the day off because trading and the flow of money to the market is affected. Cancelled races means less money in the market and trading can be a pain because the market doesn’t react as it would if the races were not cancelled. This is also good to know. There are two main seasons in British horse racing: 6.2.1. Flat Season Flat turf racing reaches its peak in May, June, July and August. These months are rich with opportunities because racing starts at 2pm and ends in the evening. During these months, jump & all weather racing have the lowest number of races. It’s good to make the most out of the opportunities during these months because as I said – winter can be tough and you can experience a large decline in earnings. 6.2.2. Jump Season Jump season peaks in November, December, January, February and March. In general, the number of races during these months is lower than in the summer and you may miss the evening racing. During April, September and October, there’s a transition between the Flat and Jump seasons. The last big opportunity in jump season is the Grand National in Aintree. 6.2.3. All Weather There are four all weather tracks in the UK – Kempton Park, Lingfield, Southwell and Wolverhampton. You can rest assured these tracks will always be on the card. These tracks usually don’t attract big volumes of money but it’s good to know you can rely on them. Personally, I like trading these tracks as I always found it little bit easier to make a profit on them. < PREV | HOME | NEXT >
  25. 1 point
    Liquidity is amount of money involved in the market. More money means higher stakes you can use or the easier you can get out of the market. When do we reach what I call “perfect liquidity”? It’s the time when a lot of money is going into the market all at once and orders are filled quickly. It’s when you can get out quickly with big stakes. The most important week of the year is the Cheltenham Festival. Watch these races in Geeks Toy and you’ll see what I call perfect liquidity. During this week, I always break my records. On the other hand, there are events like evening racing at Down Royal in Ireland, where you have a hard time reaching earnings like with Cheltenham. Keep this in mind. Different events attract different liquidity. When you finish trading on Cheltenham, don’t jump directly to Down Royal with similar stakes (in the case you’re using high stakes). I’ve made this mistake a few times, and believe me, it can hurt. What am I trying to say? Always adapt to each market, race, and time of year, week or day. There are a lot of variables to consider and you have to be flexible when adapting. Just knowing these facts will help. The more money involved in the market, the more you can usually earn... If there is more than £100,000 matched 10 minutes before the start of the race, there is usually good liquidity on the race. This number has proven to be a rough indicator of how much money will be traded on a particular race. < PREV | HOME | NEXT >