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Valencia

Hi I am Valencia.

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I am about 3 months into practising scalping and use Bet Trader. I'm trading the odd race in real mode, usually because I want to lay a bookie bet with an offer but it's a confusing conflict of interests because instead of booking lay bets at good odds, the urge to trade takes over and I end up in a worse position than if I had just matched my bet, not because I've lost money trading however, so that's a positive!

My situation is that I could do with more cash but I have an income which is sufficient to live on currently so I have perhaps a little more time than most to learn. Most days I can dedicate a couple of hours to watching and trading markets.

I am no stranger to risk and realise that I need to be unemotional about money but that is something I have learnt to control from investing in property over the years.

A few things I have learnt from using Bet Trader in practice mode, firstly it replicates the markets but is only a simulation of how your trades might go. I don't know how it compares with other software but I suspect they are much the same. Your trades would have some influence on the market in a real situation but in practice mode they do not. I would say that practice mode is more difficult to trade than real because often your prospective trades will be still be sittng there when other trades were matched and the price has moved on. If the price then bounces, then your trade will match. However I still find practice mode to be beneficial, I can try out tactics and make silly mistakes that I can learn not to do again, hopefully in future.

My plan is to gradually increase the live trades I do. Currently they are fairly positive on the whole but my stakes are super low. I plan to give this training period at least 6 months before I have my basic tactics in place. My aim is currently not to loose money, making anything significant hopefully will come later once I have learnt to master the former.

My plan is to stick to horse racing and basically scalping as I prefer to get out of each trade asap. My internet is Ok but not brilliant and I think scalping is better for those with less experience. If odds shift rapidly against me, I am not overly exposed. I am not keen on in running trading but confess to having fallen victim to it by not closing out in time. I've also thrown a bet or 2 in one way or another in the last seconds.

I look forward to studying Tomas's material and hope to connect with others here that have similar aims and those can steer me in the right direction.

Valencia

 

 

 

 

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> Join our real-time trading chat on WowApp

Welcome to sportstradingexposed Valencia!

Really nice introduction I must say. It is good that you are trying to trade live with very low stakes. You will learn and cannot lose much. You described practice/training mode well, so it is best to practice with it but my advice is to use practice mode with also small stakes like 5-20$ depends on liquidity on ladder. With 10$ stake in practice mode while on ladder there are sitting amounts from every side like 300+ 500+ ,you know that outcome is much more objective/real than while placing your virtual bet of 1000$. For another example I would strongly do not recommend anyone learning with practice mode on greyhounds with using 10$ stakes..that would be useless and can only harm real trading.

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Thank you for your welcome and advice!

I have not really looked at greyhound races as yet as I understand they are very volatile, also I think that here in the UK they are evening races and I am busy with other things then. Perhaps in the future, one brave night I will take a look and probably not trade. Am I right in assuming there is poor liquidity in these markets so practice mode would not in any way imitate real mode? If so the same could apply to horse racing perhaps, and so best to avoid any small races with low liquidity.  My worry would be to have no clear exit route on a lay bet if there were very few orders awaiting matches to buy.

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Yes that is correct. Greyhounds are known for low liquidity matched and because of that practice mode is useless. Practice horse racing on training mode is pretty accurate during last 10 minutes pre-off. I used to train a lot using training mode from the begining and after a year I changed my focus and now I am on greyhounds.

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I thought I would take a look at a greyhound race on the ladder out of curiosity but couldn't make head or tail of how to find the events and what was the market with just numbers listed with a dash between, no names. I will need to find out more about these markets. Are greyhound races easier ultimately to trade than horses? What makes some traders prefer greyhounds over horses?

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