A few years ago I wrote a Betfair Trading bankroll managment guide for traders of all types. It is still a great article and worth reading for all traders you can [FIND IT HERE](https://betfairtradingcommunity.com/en/blog/betfair-trading-bankroll-staking-strategy-how-much-do-you-need).

However, as lots of our Football Trading and Horse Racing traders are now using set and forget strategies, I realise we also need a guide for that type of betting bankroll.

Set and forget strategies are essentially just betting on an outcome and letting the bet run. 

This style of Betfair trading has become more popular in recent years, the idea of sitting at a PC all day trading is not only too time consuming but also not neccessary to make money on Betfair. 

So, hey, why not save time and effort and use straight bets to make money? I mean if it makes money who cares what type of betting it is?

Anyway, if you are at all interesting in set and forget betting on Betfair then you need to read this guide!

 

What is the ideal bankroll for becoming a Betfair Trading pro-trader?

We get asked this question all the time! However, the answer is different for set and forget betting...

The key thing you have to be aware of when placing bets with no intention of trading out is that you will lose 100% of the stake you use. 

This is obvious but the reason I mention this is that you will have more variance than the typical trading strategy, in some cases a lot more. 

It's simple maths really, if you lose 100% of your stake when you lose a bet your losing runs will be more impactful. 

So the way to combat this problem is proper bankroll management! 

Every time we bet we are risking that stake, so let's think about each bet as a BIG BET.

Our bankroll needs to have a certain amount of BIG BETS to cover a losing run.

Not only that we don't want one bad day to cripple our bankroll, so we need enough to be extra safe.

How many BIG BETS would you want?

Well in trading you can get away with 50 (2% of your bankroll 2x50=100%) because you will not lose the full stake, you will be cashing out for a profit or a loss at some point.

However, when straight betting 50 is not enough. Imagine you have a losing streak of 10 bets, this can easily happen when betting at odds against even when betting at evens.

Suddenly you have lost 20% of your bankroll and that could be in one day. 

That's not a sensible staking plan.

So how many BIG BETS do we need.

Well it depends on the odds you are backing at. Let me explain.

If you are generally betting at odds on maybe 1.5 or below you could probably get away with 100 big bets.

1% of your bankroll per bet should be fine because you will win at least 66% of the time on average. 

If you are betting at evens to 3.0 you could probably get away with 200 big bets. (0.5% of your bankroll)

This is actually the kind of bankroll professional poker players use, they will have 200-250 buy ins behind them (so when you see a player lose their buy in on TV, it's not the big deal the broadcasters will try and tell you!).

If you are betting at odds above 3.0 it can get tricky, you will want more big bets the higher the odds go! Maybe 500+!

 

So Let's Talk Money! 

All this talk of percentages is great and definitely where you should start thinking from, rather than financial amounts but I know most of you will be asking, how much money do I need to bet on Betfair?

Firstly, if you are new to trading you should start low, go as low as possible £1 bets so you need enough money to have as many £1 big bets as you need. £100 for 100 big bets, £250 for 250 big bets and so on. 

Then you can raise stakes as you earn money according to your percentages, so you use the same percentage per bet but increase the stake naturally as your bankroll grows. 

So if I doubled my bankroll from £100 to £200, I would now use £2 stakes and still have 100 big bets.

If you want to know what bankroll I recommend for pro traders it is still the same as the previous article.

If you are placing multiple bets per day on a variety of profitable strategies £5,000-£10,000 will be a great starting point, you can easily go semi-pro at that level, however, because of the low stake percentages you are probably going to want to get that up to £20,000+ eventually.

Although, as I always state there is no rush! 

Remember set and forget is so easy, you just place your bets and get on with your day, so there is less pressure to make big money because you are not wasting any time where you could be doing other things.

 

What if it goes wrong?

My simple rule that I have been told by so many traders over the years was godsend is this:

If I lose half my bankroll I halve my stakes. (Obviously if you are using £1 minimum this can't be done but it's not a major worry at that level, you just may need to look at a different portfolio of strategies).

By halving our stakes we give ourselves another chance to have success and it's nearly impossible to 'bust out' and lose our whole bankroll. 

If I am using a £5,000 bankroll and £50 stakes then if it gets to £2,500 I will reduce stakes to £25 and so on. 

This gives you maximum bankroll protecting and you will never be the victim of a horror 'I LOST MY BANKROLL IN ONE DAY' story!

 

One final bit of advice...

Please test your strategies before putting money on them, don't just backtest but forward test them as you go.

Give it 6-12 months and really get a feel for what works and what doesn't before putting serious money down! 

The biggest mistake Betfair traders make is to bet heavily on a strategy they have not fully tested, which usually leads to disaster.

If you have any more questions about this please do not hesitate to ask me on the forum or contact my via email [email protected]

Be safe with your bankroll, it will become your best friend in hard times!

 

 

 

 

 

 

 

I get asked why I didn't trade a certain match all the time, so here is the answer.

 

These are my general rules for Betfair football trading, specifically when I will NOT trade.

 

I stick to these absolutely.

 

Remember this mantra:

We want to eliminate as many unpredictable elements as possible when trading, these rules will help us do that.

1. Do not trade at the start of a season, I want at least 8-10 games played before I consider the data worthwhile from that season.

2. Do not trade the last 5 games of a season, many players and teams have differing motivations at this stage in a season.

3. Do not trade football during international breaks, even lower leagues will have some player unheaval which leads to unpredicability.

4. Do not trade football on days where I am not fully able to focus during the time I will be trading.

5. Do not trade international football (Exception in major tournaments), not enough recent data on teams.

6. Do not trade cup games, motivation issues again.

7. Have a day off when you want to, no point trading tired or in the wrong head space.

 

Follow these rules will help you avoid the major pitfalls of football traders on Betfair.

 

@karl-pick if your exit is 2.0 then stick with that, if it comes earlier then so be it

 

There are several different Betfair trading strategies that you can use to build your bank. The most important part of using any of these strategies is to have a plan by finding a strategy that works for you and improving it as you progress to improve it.

This article will discuss some of the most popular Betfair trading strategies. You can also join

will give you a great insight into what you need to know about Betfair Trading for a living.

You have to ask yourself -what would my life look like if I were to go Pro? Then work towards that. 

 

2022 Easy Football Trading Strategy Win on BTTS

Today's strategy is not discussed a lot, probably because it has not been around for long. It was created in the last few years. 

It is yet another simple strategy with great opportunities for trading.

 

One thing about great strategies is that they keep it simple stupid! They are easy to understand and adapt to. The best part is that you can make changes and improve where necessary to fit your strategy.

 

I will show you how to create your BTTS strategy. Watch the filters I have created, which will direct you on how to create your own. And when you get a good one, share it with the community and us.

Watch the 2022 Easy Football Trading Strategy Win on BTTS - Betting on Both Teams To Score - Betfair Trading and get your free strategy, even if you're not a BTC member.

Betfair Trading Software: Which 1 Do I Use?

 

There are many reasons you might choose to use Betfair trading software. Perhaps the most obvious benefit is that it can help you make more informed and successful trades hence building your bank. Also, Betfair Trading software can give you loads of information and data, giving you a significant edge in trading.

 

Additionally, using Betfair trading software can help you automate the trading process, making it easier and faster to make trades. It can be a real advantage, especially when a lot of action takes place in a particular market. It also provides you with a wide range of features that can help you to maximize your profits.

 

Finally, using the software can help you develop better trading strategies by staying in control of your trades. 

So which one is the best? Watch Betfair Trading Software: Which 1 Do I Use? To pick the best software for your trading on Betfair that works for your strategy and budget! 

 

How To Make An Income Trading Football on Betfair Exchange

 

Betting on under 2.5 goals is one of the most straightforward soccer betting strategies around. It's also a very effective way to make money if you use the right odds and picks. 

 

There are matches where you can bet on either a high or low-scoring game. If you are looking to profit from betting on these types of games, you need to use an under 2.5 goals betting strategy. It is a system that will help you to identify which games have the potential to end with less than three goals scored.

 

The reason most strategies don't work is not league/odd filtering, to find out which odds work best, Watch

2022 Under 2.5 Goals Betting Strategy - How To Make An Income Trading Football on Betfair Exchange Learn how the strategy

works with the Betfair trading software.

NEW & Easy- How to Improve ANY Football Trading Strategy on Betfair - In Two Easy Steps!

Is it possible to Improve ANY Football Trading Strategy on Betfair? 

 

There are a lot of factors to consider when trying to improve a football betting strategy. The first thing to think about is what

you're looking to achieve. Are you trying to make money from football trading, or are you just trying to make your stake more

likely to win? Once you have an idea of what you're trying to do, you can start thinking about improving your strategy.

 

What you want to check with filters is how they are working. Is it making a profit? What are the odds/selections, the leagues, etc

 

In this video, NEW & Easy- In Two Easy Steps! Find out how you can improve any football trading strategy on Betfair in two simple steps. It is straightforward, and anyone can do it.

Betfair trading daily: Mine are like groundhog day!

How would you describe your trading days? Are they erratic, where it all depends! 

 

Now, Why do I want my Betfair Trading days to be like groundhog day? What on earth are you on about Ryan, you might wonder. Have you watched the 1993 movie "Groundhog day?" In this movie, a cynical TV weatherman finds himself reliving the same day repeatedly. Nothing changes, and everything is the same to the last detail.

 

I want my days to be like that because I know what I am doing every day. I can repeat the steps to ensure my trading is profitable on Betfair. 

My goal with my Betfair trading is that it's steady and smart & I don't have to have too many moving parts. 

Watch this video Betfair trading daily: Mine are like groundhog day! Find out why you need your days to be like groundhog day as a profitable trader!

 

If you want FREE Strategies that are proven to work and with a FREE 5 day of bonus training, Click here.Whether you're a beginner or an experienced trader, our community is a great place to find tips, tricks, and strategies to help you build your bank. Trade with other members, learn from the pros and master the art of betting on the Betfair markets.

@paul-15 it's here: https://betfairtradingcommunity.com/en/blog/betfair-trading-strategies-1

Happy 2022,

 

We at

and find out the other reasons why you should use one strategy per match for success.

 

From Trading - Don't Let it Control Your Betfair Trading!

 

Many people suffer from FOMO- It is a trading acronym that stands for "Fear of Missing Out". We're all guilty of it, some more than others. Trading is an emotional and psychological state that affects traders highly focused on their returns. They have a strong desire to gain profit. In turn, makes them jump into crazy decisions when they should be protecting their profits and focusing on their strategy.

 

If left unchecked, the fear that you may miss out on potential profits from Betfair trades. It can be harmful to your Betfair trading strategy, but you shouldn't ignore either. Join Martin as he discusses why you should not have FOMO. From Trading - Don't Let it Control Your Betfair Trading!

3 Most Overlooked & Underused Stats in Football Trading

 

Scored v conceded 

Avg First goal time 

Shots on target per goal 

 

These 3 stats, especially when combined, will make your trading better almost overnight! 

Join Ryan on the Betfair community stats software. Discover how the 3 stats can be a game-changer for you. Watch the video here 3 Most Overlooked & Underused Stats in Football Trading.

Pros & Cons of Over 1.5 Goals - Betfair Football Trading Strategies

 

In football trading, a good betfair trading strategy is to bet on the total number of goals scored in a match. But, there are times when you should consider going for the over or under 1.5 goal market. Instead of picking a team to win straight up (straight bet). One of the reasons Martin prefers the under 2.5 over the under 1.5 goals strategy is that it offers more breathing room.

 

Watch the Pros & Cons of Over 1.5 Goals - Betfair Football Trading Strategies and find out if it's the right strategy for you.

 

Finally…

Imagine if you could follow strategies and start making consistent profits from Betfair. That's what we do at The Betfair Trading Community!

 

Join  BTC, a community of traders, discover our exclusive trading strategies, and get them instantly via video training or Podcast on our website. 

 

Betfair Trading Community Annual Review 2021  It's been another amazing year with Betfair Trading Community. We've stayed true to our goal of helping traders become better and create the best trading community out there. Our stats software is pretty snazzy too!  This will be a long post, those who know me know I have a lot to say and a lot of people to thank.  The Members  I cannot start a post talking about the year without mentioning the members. It's not about me, Martin or Adam. Never has been, it's about the members. You guys make every day a joy for us, it's a pleasure to get to know and interact with you.  Even if some of you should be locked up or have some serious assessments - You know who you are.  Martin, Adam & I meet every week and have a format that we work through and we have goals that each of us focus on.  Martin and I put a lot of work into growing the podcast and YouTube this year. Adam focused on the Horse Racing Software which is on the 1-yard line now.  The reason Martin and I wanted to focus on the podcast and YouTube was we know we can give serious value. Help you move the needle on your trading in a way, I believe no other out there teaching this stuff can.  We value every interaction we get from the watchers, listeners and everybody on our email list.  YouTube We added 1.1K subscribers - We are happy with this! I know some of the others out there have more than us, but we are working on catching them.  We produced some top videos which I am proud of. I have included the top 10 videos for you.  Top 10 Videos for 2021 The only strategy that works 100% of the time on Betfair - &t=1s Betfair Live Football Trading The Over 1.5 Goals - (Ryan's Famous Split Stake Strategy) - &t=1sLive Betfair First Half Goal Profitable Strategy for Football Trading - &t=1sProfitable Betfair Over 1.5 Goals Football Trading Strategy - Tested! - &t=1s#2 Most Profitable Betfair Trading Football Strategy - The Betfair Trading Strategies I'm Using In 2021! - Easy Scalping Football Trading Strategy for Betfair -&t=18sLive Betfair Football Trading Strategy Under 2 5 goals, Over 1 5 goals and LTD - &t=2sEasy To Follow Tennis Strategy Betfair Trading -Live In-Play Betfair Football Trading - Scalping Unders- &t=2s Podcast  This is mainly Martin's domain, he says he likes it because he doesn't have to show his face. I am sure you agree, but it's gone from strength to strength this year - I even joined him for some!  The Top Ten for 2021  Why Do Most Betfair Sports Traders Fail How An Experienced Trader Selects Their Trades Over 1.5 Goals Betfair Trading Strategies - Worth it? What I've learnt from 17 years of trading on Betfair! Lay The Draw - Is is still profitable in 2021Why Horse Racing is a Great Sport to Trade on Betfair! Late Goals - Opinion and how to use What's Holding You Back? Betfair Trading Advice Where To Start - Creating A Trading Strategy Applying Game Theory To Betfair Sports Trading You can listen in to these on Spotify - https://open.spotify.com/show/72e7Lxfrrsy4D3VbpFYKSeApple - https://podcasts.apple.com/us/podcast/betfair-trading-community-podcast/id1232616801?uo=4 Too Long Didn't Read 😉 If you came to this section you've really missed out!  Pretty muchWe love our members We have nearly finished horse racing software YouTube & Podcast have grown We've added a couple of kids to our gang! I hope you have enjoyed being involved in our world as much as we have had you in it.  Have a Merry Christmas, you filthy animals!

 

The Betfair trading strategies are quite popular because of their simplicity, accuracy and reliability. The strategies are very easy to use even for complete beginners with no previous experience in trading.

The number of people participating in professional and semi-professional trading is growing rapidly and many traders want tips and strategies for building their bank. This article will look at some popular strategies for making money on Betfair that can be used by both novice and experienced traders alike.

Is Betfair Trading Possible?

 

Betfair allows you to bet on sports, events, and more. Betfair has become so popular because of its incredible selection of bets for various types of people. It includes professional traders who can use complex trading options to get an edge on their competition.

 

But what about regular people just looking for a safe way to have some fun? Is Betfair gaming possible? The answer is yes, but it takes patience and practice. 

Whether it is football tips and advice, football trading or just trading on Betfair, it requires some insight on how to go about it. 

Here Martin explains in detail whether or not Betfair trading is possible.

Is Betfair Trading Possible?

Don't Follow Trading Strategies Blindly

 

People blindly follow betting strategies with no questions asked. Trading is quite popular, and there are many different trading strategies, some more successful than others. If you want to be successful as a trader, you should not blindly follow any strategy. You should test some things first before using them on your bets.

 

Don't forget that if you want to win in the long run, it's essential to have a strategy that calls for your specific trading. So what does a personal strategy involve? Here are a few guidelines you can use to create your strategy:

How does your strategy fit your overall goals?

What are you trading? - If it's horse-trading, then get a horse racing strategy.

How do you want to trade? - If you want to trade in-play, then have an in-play strategy and if it's pre-match, align your strategy as pre-match.

To learn more on how to build your strategy, click here. You will receive a FREE 5 DAY "How to build your strategy."

Betfair Trading Strategy - Don't Blindly Follow Any

 

How Much Money Can I Earn Trading?

Now, there are a few things to consider before answering this question. You need to understand:

Your skill level

How much money do you have in the bankroll

Do you have the patience to build your bank over time

First, you need to figure out what your end goal is. Maybe you want to become

A pro-trader

Semi-pro

Extra pocket money- maybe for your yearly holiday.

Begin by writing down your goal, how realistic it is and how long it will take to achieve. For example, if you want to earn some extra cash, it will take less time to reach your goal of making the money. 

With trading, you can make as much money as your talent allows you to. If you are a successful trader, you can build your bankroll, which will enable you to scale up to higher levels and make more money.

How Much Money Can I Earn?

Betting restrictions - good or bad?

The vast majority of people who regularly bet on sports in the UK are males aged between 25 and 50. This demographic has traditionally formed a core part of the betting market, but more recently, it has been hit by new legislation which places limitations on how and when you can place bets.

 

Recently, new gambling rules have been introduced in the UK. There's a push to limit people's gambling, in effect, making it harder to deposit money and limit the amount based on your income and the source of the money i.e. credit cards etc.

 

Why do I (Ryan) think it might be a good thing? 

Smaller banks: teach us to manage small stakes for our trades

Smaller stakes: use lower stakes for all your trades 

Smarter traders: learn to narrow and pick only the best trades

Reduced time trading: gives you time to do more research and learn to choose quality over quantity.

 

It's no secret that the online gambling industry is thriving, and as such, many laws are popping up to regulate it. Some of those laws might be a good thing for those who enjoy trading. In all this controversy, some have argued that betting restrictions might be a good thing. I think that the restrictions might be a good thing. 

Which Football Matches Should I Trade?

One of the members of the Betfair community had a concern in regards to trading. He only has a bet when he is going to watch a football match. If he watches the match, he has to make a bet. 

Is it possible to reprogram your mind from trading because I'm watching it, so I will watch but not trade, or I will only watch because I'm trading the match.

This question brings memories on my part (Martin) since I went through a similar phase when I started trading with Betfair. Being in my early years with time on my hands, I became interested in matches because I was betting on them.

Many people usually end up in this position when they start trading. The idea that you have to watch a match because you are trading happens more often than you can imagine.

At Betfair, we focus on discipline being key in trading. Get yourself out of the mindset of "I have to bet", which simply is addictive behaviour.

Which Football Matches Should I Trade?

 

How to 10X Your Profits In 10 Mins A Day

So what's the difference between a trader who takes 10 mins to fill in their results sheet and one who doesn't? PROFIT 

The trader who takes the time to fill in their sheet will always get more profit! 

Back in the day (Ryan) we had a horse racing project. As a trading community, we all tracked everything, and we 10x the profit by working on the results. We were able to take out days, courses, tracks that weren't adding profit - this MAXIMISED the results. 

It happened simply by taking 10 minutes a day to fill in the result sheet. Once you track the stats from trade, you will get a clear picture of what you need to do. For example, you will see the similarities between your winners and losers.

The result sheet document's what is and isn't working, so you can see which strategies are working vs which ones need changing.

Create your result sheet using any spreadsheet that has the - Date / Trade / Type of trade / Profit & Loss / Entry & Exit / Stats from the trade.The data you fill in will give you clues. It will help you to tweak your strategy to make better trade selections. 

 

10X Your Profits In 10 Mins A Day?

 

Become God Like At Match Reading

Match reading is one of the most important aspects of trading on Betfair. It is the process of analysing both teams involved in a match and deciding if their current form, combined with their fixture list, makes them worth backing or not.

Match reading in betting is a skill that takes time to develop and can separate the good from the great whether you're a beginner or have been trading for a while.

So how do you read matches?- STATS

Pre-match stats lead to goals. They remove the emotion from the game. You can track your stats on a spreadsheet or BTC stats software. What you should be looking at includes shots on/off target, halftime/fulltime scores, goals scored in the first/second half, detail shots per goal for the team and league average. With this data, you are in a position to predict and read matches. 

Access the BTC software here

 

Become God Like At Match Reading

 

Do you want to scale up as a pro trader? Join our BTC Academy. Learn from proven traders the trading essentials, mastering football, betfair tennis, trade in cricket, and horse race trading. Discover more here  and take action today!

What is the smartest way to bet on sports and make a profit, or what are some of the most profitable Betfair trading strategies? These are questions every trader thinks about more often than you would imagine. It is important to think about such questions if you want to become successful in trading. There are many strategies that you can learn that are essential to help you become a profitable trader. Some of the strategies include having a proper strategy or plan, thinking like a rookie, having a passion for trading, making time and consistent practice. However, it all starts with a strategy.

 

What is your Strategy?

Many people who get into trading do not have a plan or a strategy. Additionally, the majority of people do not take time to plan and execute their strategies. The key to your overall success is to develop a plan of how you want to tackle your trades. Lack of a strategy is a recipe for making losses which leads to loads of frustration. The end result is giving up before you even start.

Here are some things that will guide you with your plan

What is your overall plan in trading? Is it a part-time fun activity, or do you want to be a full-time trader?

How does your strategy fit with your overall plan? Suppose the two do not align; the outcome will result in issues with your trade that will affect your mindset.

One of the things I advocate for when creating your strategy is keeping trades as simple as possible. I advocate for lay the draw, and I do not go against my strategy.

Create a strategy that is simple and works for you. Remember, success always leaves clues. At every stage of your trade, ask yourself

Does this trade follow my plan?

It is important to realise that trading is not about making fast money. Here are some strategies that will help you to trade successfully.

Think like a Bookie

Bookies play the long term strategy. Likewise, your trade should be to play the trade. For example, think of a casino. The truth of the matter, casinos lose money to the players. However, they have a strategy that is long term which is about playing the people. Their strategy is to play the trade and to play the long term strategy.

As a trader, you need to have a mindset like that of a casino. You've got to think like a bookie. One bad trade doesn't define you or your trading. It just forms part of your overall strategy, which is precisely how bookies think - you can learn a lot from that. 

Bookies have a strategy. Olympians have a well-mapped strategy that takes years to master and receive a well-deserved medal.

Here are some pointers to use to plan your long term strategy

Write down your strategy and include the rules. For example, how will you select your trades?

Follow your rules- do your research in advance and document everything.

Execute your trades- you need to know what is your endgame with a trade. Ensure you check the timings, score lines etc

Now that you are in the trade- how long are you in that particular trade, what profit percentage are you aiming for. Also, know when you need to get out.

The importance of documenting all the steps in your strategy is part of the bigger picture.

You've Got To Think Like A Bookie - Play The Trade

 

Time Factor

The most important thing to note is that trading is not a get rich quick scheme. It is necessary to give yourself time to become a successful trader long-term. At least 1-2 years in trading to fully master your strategy. 

When you trade for a month or two, then you give up; you haven't started to scratch the surface of what you can do. The long term approach has worked for many people. Success stories include Martin, Ryan, and other Betfair trading community-BTC members like Keith, John, etc. 

No trade or career leads to learning, perfection and mastery in a month. For example, look at doctors who take anywhere from 5-7years to perfect their trade. You need to give yourself time and be patient. Educate and learn about trading from the resources available in our channel and software.

 

Have Passion

Passion is about loving what you do. It is about having fun watching competitions, competing with other traders, learning more about sports, and having the right statistics about sports you enjoy. Most, if not all, successful traders have a real passion for sports and trading. Passion is built consistently through channelling your energy towards the right things and that which you enjoy. In turn, you receive a positive outcome of the expected results.

Most stories from great footballers talk of the passion they always had for the sport while growing up and their determination. Waking up very early to train, being left behind after training every day to perfect their game. Great athletes are made from such passion and determination.

Sometimes your passion for something can fade or become low. The best thing is to take a break and allow your mind and body to rest. You come back with renewed energy and are more rejuvenated to succeed.

The question you might have is, how can I know if I'm passionate about trading. As it is with any skill, give it time to develop and learn. Then only can you know if you have a passion for something or you don't.

 

Practice your Trade

Practice is essential to succeed in trading. Staying behind after training sessions to perfect your art through practice leads to perfection. Indeed practice makes perfect. Trading is a skill that is mastered through practice. Treat trading like a job. Have discipline and practice consistently to see results.

Write down your plan and build your strategy through practice. The beginning might be rocky, but with time and determination, you start to reap the benefits.

3 Secrets to Winning on Betfair

 

How to select a successful football strategy

 

There are many football strategies that you can use to trade and succeed. The question is which one will work for you. The most important part is understanding which strategy works for you. Your strategy can be a success because it is personal to your plan. For example, some traders have great success trading in play, while others like to trade pre-match.

Many traders will claim to show you how to trade in live shows. The danger with watching another trader's strategy means they can trade. However, how does that help you with your plan or strategy? It is pointless to watch an in-play trade while your strategy is pre-match trading.

For your strategy to work, you need to ask yourself.

How do I want to trade- in-play or pre-match? It will align with your strategy.

When are you going to trade? It helps you to organise your day and do your necessary research. For example, if your intention is only to trade at night, think of the upside and downside. The downside might be that you limit yourself.

Plan your time to trade and family time. Ensure you allocate time for everything important to you and ensure nothing suffers at the expense of the other.

 

One way to balance your plans could involve a weekend trade only pre-match. Set a specific time to get in and out of trades and set reminders or alerts.

 

How will you trade- how are you going to do your trades could involve your phone. To simplify your process, list all your trades on an app. It all leads to working within your strategy.

 

In conclusion, here are the questions that will guide you through creating a strategy.

When can I trade?

What is my trading style?

What information do I need to research?

Where can I get the information about trading?

How am I going to execute my plan/strategy?

You must ensure that you follow that plan consistently to become a successful trader.

 

Authors Martin & Ryan

 

I feel hungover today, yet I have not had a drop of alcohol. Not that anyone who had witnessed my antics last night would have believed that fact, to say I celebrated those England goals like a madman would be very accurate.

My wife actually used the words 'I thought you had gone insane!'.

I imagine I was not the only English person who let out their animal side cheering loudly as England made their first final in my lifetime!

Was it just me who had to jump up and down to release some nervous tension before Kane took that penalty? I have thoroughly enjoyed Euro 2020 so far. 

Anyway, those not from this beautiful country of mine will be wondering, what on Earth does any of this have to do with football trading strategies on Betfair?

Well, my friends, the match vs Denmark was a great example of one of my favourite trading strategies in action.

Laying an underdog who takes an unexpected lead, when you heavily fancy the favourite to come back into the game. 

This was not the only game in the tournament where this had happened and in nearly every case, there was a clear and obvious (my favourite phrase this morning, if I knew how to do emojis I would do a wink) lay opportunity on the underdog, who then became the favourite.

France vs Switzerland was another great example of this, the Swiss took an unexpected lead and once France started to click the Swiss could be taken on as they were now favourites to win. 

Spain vs Croatia another clear example where a Croatia took a shock lead (thanks to a terrible piece of goalkeeping), and could be layed at a very reasonable price.

Earlier in the tournament Hungary gave us some real gifts.

Hungary took a shock lead vs France and could be layed at much shorter odds. They also took a lead vs Germany and the same was true again.

Denmark have been equally kind, taking a shock lead against Belgium and England, trading at much shorter odds.

In all six of these examples the underdog traded either odds on or below 3.0 in price on the Betfair football markets.

In every game the pre-match favourite equalised and never did they lose the match in the 90 minute market that we trade on. 

You would have made a very good profit trading these matches using this football trading strategy!

So, I know what you are probably thinking, that's great and all Martin but how do I choose which matches to trade this way on?

As ever with Betfair trading, match selection is what sorts the profitable Betfair traders from those who lose.

 

We actually have trading software that can help with this and even if you are member you may not even know it as our team Ratings software is a bit of a hidden gem in our Betfair trading database.

This is not available anywhere else on the internet and is unique to us! The key ratings we look at for this laying the pre-match underdog when they take the lead strategy are: (Forum legend Richard was the first person to utilise this.)

ELO Differential - This is a rating showing the srength of a team we want 100+ difference ideally for the stronger team to the weaker one.

Home/Away Comeback Rating - This is a rating out of 100 and shows how likely a team is to comeback if they go behind, so the higher the better!

Members can view or download the ratings straight to excel here: http://new.betfairtradingcommunity.com/ratings/

The football ratings software is the easiest way to find the strong teams each day who could be good match selections for this Betfair trading football strategy.

There are lots of other ratings on there to dive into like - Goal Expectation, Goal Supremacy, Accuracy, First to Score etc.

If you are a stats geek like myself, this will be a dream for you to use and is an essential resource for members.

So, how else can you decide which matches to trade on?

In Euro 2020 and any major tournament it is quite easy to watch the teams play every match. If you are as big of a football fan as me, then it is a given.

The key thing about this is you get to know teams, you learn with your own eyes how good they are.

Notice none of the matches I gave in the recent examples were the first games for any team in the tournament, I had watched them all play at least one game before utilising this strategy.

It's not difficult to know the England are a much bigger footballing nation than Denmark, or that World Champions France will back themselves to equalise against relative minnows Switzerland and Hungary.

If you see a much stronger team go behind, view signs that they are starting to dominate and that an equliser looks inevitable, then this is the time to strike.

The opportunities tend to be fairly clear and the beautiful thing is that you are now laying at underdog at short odds, your liability is reasonable and this is where the profit comes from.

We expect the strong team to comeback and most of the time they will!

There is one other match I have not mentioned, where a big pre-match favourite went behind but I did not lay and that is the Netherlands vs Czech Republic, when the team you want to equalise gets a red card then there is no way you should enter this trade.

This was a very easy one to avoid and once the red card came for the Dutch, Czech Republic became the favourites anyway even at 0-0.

Now, if a red card comes after you have entered the trade you should really just accept the loss and trade out and move on, especially if you can get a decent chunk of your stake back. 

So let's recap quickly - 

To profit from this great football trading strategy we should: 

1. Check the strength of the teams and their likelihood to comeback using software: http://new.betfairtradingcommunity.com/ratings/

2. Check that the team who goes behind is starting to dominate and the equaliser looks inevitable.

3. Check the match situation - if there has been a red card for the strong team or there is a serious reason to avoid the trade - then do so!

This is one of if not my favourite Betfair football trading strategies and I hope you enjoy using it as much as I do, and, more importantly make some good profit.

Have a great day everyone and enjoy the final of Euro 2020, so happy to be there a win would just be a bonus at this point, come on England!

Today I am going to explain to you why strategies are so important to Pro Betfair traders.

The simple fact is that virtually all pro sports traders use strategies and systems that they have developed to make a profit when trading on Betfair. 

 

Yet a lot of newer traders don't really understand this and often wonder why without this proper preparation they fail.

 

You yourself may be wondering, why do we all spend so much time developing sports trading systems and strategies?

 

Why don't we all just watch a sports event and trade what we see in front of us?

 

Who needs any planning or structure?

 

Wouldn't it be easier just to trade as and when?

 

A successful trader who uses this 'laissez-faire' attitude to their trading is the exception to the rule.

 

This alone should be proof enough that spending a significant amount of your trading time on developing strategies and systems is a worthwhile investment.

So let's get into the meat of why this matters so much! 

Developing a strategy actually teaches you to trade:

Do you want to learn to be a better trader?

 

One of the best places to start is to develop strategies, whether the strategy is a good one or not, you will have the benefit of learning the nuances and intricacies of Betfair trading as you go.

 

Think about the times you have learnt about things in life, often you learn from trying something out yourself and making mistakes. 

 

Every Betfair strategy out there was developed by someone, just like you or me, you don't have to be a special scientist or maths genius, any everyday person can do it.

 

Look at the most famous pro Betfair traders, we all come from completely different backgrounds, different classes, different careers and different places!

 

2. Most Pro Traders use their own trading strategies:

 

If trading strategies don't matter, why do virtually all pro traders use them?

 

The truth is developing your own successful Betfair trading strategy is one of the key things you can do to ensure you make a profit from sports trading.

 

At betfairtradingcommunity.com our football trading, tennis trading and horse racing trading software has been developed with this thought process in mind.

 

If we can help you create your own trading strategy then you can learn to make money trading on Betfair without needing us to help you all the time!

 

How freeing it is for people when they create a great strategy and log into betfairtradingcommunity.com to find the selections from their strategy just waiting for them each day.

As a newer trader it is great to follow other people's strategies, that's why we created a forum for everyone to share with each other.

 

However, eventually you will probably want to carve out your own edge and corner of the trading markets.

I cannot understate how valuable this is!

 

3. Creating strategies helps create discipline and a great daily trading routine:

 

Without trading strategies many Betfair traders lack trading structure.

 

With a lack of planning and structure many sports traders find they lack discipline.

 

The great thing about having a strategy is that it gives a natural structure to your trading day.

 

I know for example that the moment I start work I -

Check my football trading selections for the day

Then I research them a little further

I schedule my time, set out which hours I will be working

I write out a brief plan of my potential trades for the day

Then I trade the selection when the event in in-play

At the end of the day I write a brief note of how the day went and anything I could have improved on

This is an example of six simple steps that make sure I have a routine.

As a species us humans are creatures of habit.

It is so important to make sure that we have this kind of a work pattern so that our minds and bodies are ready to trade.

The most beautiful thing about creating strategies is that it enables us to gain knowledge, learning and work patterns that mean we are working in a good environment.

That leads to the right atmosphere for sports trading that means we treat it like a career, rather than a hobby.

Remember what I always say 'Treat Betfair Trading like a career and it will start to pay you like one!'

Once you really start putting the work in you will be amazed how much your trading improves.

If you need any help just talk to us, we are always here for you! 

Email me at: [email protected]

 

 

 

Today I want to talk to you about why most Betfair traders fail.

Why so many sports trading novices struggle, and better yet, some key tips for you to avoid this!

 

Here at betfairtradingcommunity.com we recently did a survey of Betfair Traders, we have had thousands of members over the years so we got a lot of research results.

We asked traders what the number one thing was that was holding them back. 

 

I thought the top answer would be something like:

'I wasn't very good at making selections.'

or

'I don't ever select any winnings trades.'

But I was very wrong! 

 

Do you know what the most common answer we got was?

BY A LANDSLIDE!

 

Can you guess it?

It was...

 

LACK OF DISCIPLINE!

(Well done if you got it right)

 

I should have guessed it, I really should have, probably the most common feedback I get is this:

'Thanks for that video/podcast/blog post you did on mentality/discipline, that's going to help me so much!'

 

Not enough traders, or worse still, trading tutors focus on the key role discipline plays in Betfair trading.

Why is it the number one issue?

 

Without good discipline you cannot be a successful sports trader.

 

It doesn't matter if it is football trading, horse racing trading, tennis trading or cricket trading etc.

If you cannot control yourself and stick to your plan, it will eventually end badly, that's a fact.

 

I have never heard any pro trader say:

'I don't need to be disciplined, I just follow whatever my emotions tell me to!'

 

Ok so hopefully you see this is all pretty obvious stuff right?!

But how do we become more disciplined?

Crucially, how do we become more in charge of our trading, during those moments we feel angry and frustrated?

 

Have you ever heard of the phrase 'going on tilt'?

 

It is a poker saying that describes when a player has essentially lost their head. 

They are making crazy bets, acting irrationally and most likely throwing their money away.

They no longer really care about winning or losing, they just want to act wildly and hope to strike it lucky.

This is a very dangerous place to be, and so many Betfair traders go on tilt and throw away a lot of hard work, just because they are upset.

 

How do I know this?

 

Well, aside from the countless case studies I could present to you of Betfair traders I know who have fallen victim to this, I myself used to do it!

Yes that's right! Most (if not all) Betfair sports traders will fall victim to going 'on tilt'.

So it's nothing to be embarrassed about or ashamed of.

All that matters is that you learn to stop doing it, like I did! 

 

Here are three ways to do it:

 

1. The moment you feel yourself getting enraged, turn your computer off!

If you use a phone for Betfair and don't want to turn it off, then put the device down and go do something else.

I cannot stress enough how much money this will save you! If I had followed this advice in the early days of my Betfair trading, I would have saved a few grand.

Go watch something on Netflix, go play some computer games or better yet talk to your friends and family. 

There are so many other things to do in life, just do something that will help you escape any temptation you have to chase your losses!

 

2. Get to the root of the problem!

Why do you go 'on tilt'?

Is it when you get unlucky in a football trade?

Is it when you exit a tennis trade at the wrong time?

What is causing the anger and frustration.

Is there a way of avoiding it happening?

Can you learn to accept that even profitable traders will have bad runs and get unlucky at times?

You will have to look at yourself and figure out if you be less emotional when trading, think robot!

 

3. Remind yourself that tomorrow is another day, there will be plenty of opportunities to trade, so don't force them!

Why do Betfair traders get so caught up on the profit or loss from one day of trading?

Why is it that we can't accept a poor day and feel like we have to make it a profitable day at all costs?

We know for a fact there will be better days to trade and certainly we will be in a better mood later down the line.

So why are we victims of 'the moment'. 

When we go 'on tilt' our brains get foggy.

We cannot see past the current moment and all that matters is the here and now.

What we must keep reminding ourselves is that there will be better days ahead, so we can stop trading in this bad mood and be patient.

The truth is, you may have a really bad day trading but chances are it won't even bother you in a few days time.

You know how to make sure it does bother you for a long time?

To carry on trading 'on tilt' and lose a big chunk of your trading bankroll!

Don't be a victim of the moment and learn to accept bad runs happen to everyone.

Don't compound them by doing something stupid that you will regret for a long time.

 

Hopefully, these three tips will massively improve your discipline when trading on Betfair.

If you do find yourself struggling, remember you are not the only one who has gone through it and we really would like to help you.

 

If you haven't spoken to us about it please do!

 

Get in touch: [email protected]

 

I'll be back again soon, with another article to help improve your Betfair trading.

 

One of the four cornerstones of Betfair Trading problems people have is a lack of time to trade. 

We know this because it is something we have researched and had a wealth of feedback on. 

However, I am of the strong belief that time can be manipulated to suit our needs a lot more effectively than people realise. 

Before that - if you haven't already please sign up to our free Football Trading Challenge Ryan is Starting on Friday!

A lot of what I am about to tell you was inspired by a book called 'The One Thing' by Gary Keller - I recommend reading it if you enjoy this blog post!

 

Today I want to teach you how to create time to trade on Betfair!

How do you do this?

 

Prioritise what actually matters most 

 

So one thing I have noticed is that a lot of us have a list of tasks to do in the week.

We may write it down, or just make a mental note. 

 

The problem is, often these lists are full of things that we 'could do' with some things we 'should do' scattered in. 

Think of your own weekly tasks, what ones are absolute 'musts' and which ones could be done a bit later on?

 

I will give you an example of this from my own life, I have put my house up for sale this week.

So I have a big list of jobs that need doing to make the house look presentable to potential buyers.

 

Now I could probably do 100 different things to make it look better but how many of those things will actually make the key difference, which is, how many will actually get the house sold?

So for example a less important task - I could spend countless hours doing a deep clean of the house but will it make that much difference than just cleaning it generally and tidying up?

An example of a very important task - I must paint the corner of my living room that got ruined by a leak in the wall this year! I think you will agree this is an essential job that is worth doing first. 

 

It is fine to do the less meaningful tasks if you have the time later on, but to have true success, we should prioritise the ones that will really matter the most. 

 

Let's bring this back to finding time for Betfair Trading. 

 

Think about the tasks you do everyday and when you do them, do you prioritise the important ones or do you just do them in the order you thought of them?

 

The first thing you have to do is put your Betfair Trading as a big priority in your life.

 

If you are looking to become a pro Betfair Trader for a living I think this goes without saying but I have seen a lot of traders not do this. 

What you have to do is think of it as a career move, which it is, and not just a hobby any more. 

I think once you do this it is very easy to find one or two hours a day on average to trade during the week. 

 

Got some chores to do around the house? Do them before or after your Betfair Trading is scheduled in for that day. 

Need to spend some time with friends or family? Fit that in around your Betfair Trading. 

 

If this is seriously something you wish to make good money from then it is important you treat it like a job from the get go. 

 

Ok so that is a simple step to creating some more time for Betfair Trading but how do we create more time whilst Betfair Trading?

I think this is key because if you are a part-time Betfair Trader as most non-pros will be, your trading time is less and therefore more invaluable to you.

 

I'm going to list 5 steps to create time whilst trading on Betfair - 

 

Create a priority list of events you want to trade in the upcoming day or week - Schedule your trading in properly, if you are a football trader you will know what times you are likely to want to trade, make sure you write those down and set them in stone! 

 

Don't watch events or markets for longer than you need to - Some people sit and watch markets a long time before they want to trade or a long time after they have finished the trade, if you want to create more time don't do this. 

 

Do all of your day's research in one go and finish it after that - It is easy to procrastinate and click lots of different sites after you have finished doing your research, just get your research done at the beginning of your trading day and move on from it.

 

Stick to your plan - Try not to go off-piste! - Not only does moving away from your plan often end in losing money you had no business losing, it also takes up valuable trading time that you could use more wisely elsewhere. 

 

Use the breaks in your Betfair trading to the do other important jobs - You will get times when you thought you would be trading but the opportunity in the market did not present itself, not to worry, this is the perfect time to catch up on those chores or spend some more time with loved ones! 

 

These are the perfect tips for making sure you have plenty of time to do the things you want to (or should) prioritise.

Hope this helps those of you who have been struggling with their trading schedule!

 

As ever if you want to get in touch just email us: [email protected]

After an incredibly strange year where we heard phrases like 'lockdown', 'new normal' and 'unprecedented times' far too often. 

Yesterday was a day for celebration!

I was going to write a post on a completely different subject this week, but we have to take time to address this great news.

Betfair trading has been a test of resilience and adaptability over the last twelve months.

As Exchange traders have had to cope with changing circumstances almost by the week! 

Firstly we had that almost unthinkable period of no sport at all for a while, remember that?

The when it came back we had - 

Sport without fans, players opting out and teams having to play without key players who may be in quarantine. 

Pro Traders have had to change the way we approach certain trading strategies, in football we suddenly saw far fewer goals in first halves of games.

But...

Now we have a clear path to normality. 

Before long fans will be back in the stands where they belong, home advantage will go back to being the clear advantage it always was and sport as we know it will be back!

This leads me nicely on to something that is really important for you to pay attention to in this blog post. 

If you had a strategy that was doing well before lockdown but has struggled since, do not throw it away.Put it on hold and when everything is fully back to normal test it again!

The truth is, if you had a winning Betfair trading strategy that was profitable before Covid, the chances are it could again be profitable after it. 

I wonder how many people have had a system or strategy that was making them money trading on Betfair before Covid 19 and then when Covid effected the results just chucked the system out without a second thought. 

Please don't do that! 

What needs to be said as well is that the Betfair Trading Community has been fantastic throughout this Covid crisis. 

I must say a huge thank you to all of the members who have contributed and kept on working hard for us all through this. 

What a truly awesome bunch of people you all are!

It's also been exciting to see how well a lot of you are still doing, the systems and strategies that have been developed during the past year that are still thriving.

Football traders:

In football, we have had Alan's and Lee's incredible work on the Over 1.5 goals split stake strategy, if you are a football trader who is a member and have not checked this out yet then you owe it to yourself to: https://forum.betfairtradingcommunity.com/topic/2510/split-stake-o1-5

Likewise, Stuart's great work on a lay the draw strategy that has proven profitable over the past few years, again if you are a member check that out here: https://forum.betfairtradingcommunity.com/topic/2401/ltd-set-and-forget-if-you-wish

Tennis:

We continue to have a lot of success laying the first set winner when the opponent often makes a comeback in the second set. https://forum.betfairtradingcommunity.com/topic/271/2020-tennis-trading-thread/4467

Cricket: 

If you have any interest in cricket then this may be the sport for you, a lot of easy money to be made on it and some great guys contributing on the forum: https://forum.betfairtradingcommunity.com/topic/1093/2020-cricket-trading-thread-updated-thread

Horse Racing:

Our software is close to release now! If you have any suggestions as what you want us to add to it for you, there is still time to let us know: https://forum.betfairtradingcommunity.com/topic/1087/btc-horse-racing-software-wish-list

If you want updates on any of these things, some strategies for trading and you are not a member just sign up to the mailing list for free on our site: https://betfairtradingcommunity.com/en

I can't wait for the next year of Betfair trading! 

As ever if you want to get in touch just email us: [email protected]

 

One thing that upsets me is when somebody loses money on a betting or trading strategy.

It's never nice to hear that someone has lost money, especially in an industry where we know it is possible to make great long terms gains on your financial investments by trading. 

What is even worse is how most of the time this could have easily been avoided.

The number one most common mistake traders make is that they do not test a strategy first before putting money on it.

It doesn't matter if it is your own sports trading strategy or a system developed by somebody else, you must always test it without using real money first! 

 

I will give you some perspective on this, just answer these questions for yourself:

Would you marry someone before dating them?Would you run a marathon with no recent running practice?Would you invest in the stock-market with zero information on the investment you are making?

 

The answer to all of these questions should be a resounding 'NO'!

However, trading a strategy before testing it first is very similar to the three examples above. 

 

So I asked a few traders who have made this mistake, why do it?

 

Here were some of the most common answers:

'I was just in a rush to make money, I don't have time to test anything.'

'Well, another trader had done well with the strategy, so I thought I didn't need to test it myself.'

'I just didn't really think about it and used large stakes straight away.'

Most experienced traders will look at the above statements and shudder a little bit. 

To Pro Betfair Traders like myself, the thought of investing money into something before testing is just plain wrong.

But, as we know, many (perhaps most) traders do this at some point in their trading careers. 

 

OK so I'm not here to have a go at anyone, I am here to help and teach people to trade sports markets on Betfair.

 

Let me address these statements and more importantly give the solutions:

 

1. 'I was just in a rush to make money, I don't have time to test anything.'

Why the rush? Would you not rather make money and take your time, than lose money but do it quickly?!

This is what will never compute with me, I wonder how much time you spend a week watching TV, playing games or socialising with friends.

All activities that adults do regularly, without thought, but we often claim - 'We have no time!'

As regular readers of my blog will know, I have a theory that 95% of people could find an hour or two a day to trade (7-14 hours a week) if they really wanted to.

For most people time is not really an excuse, you have it so it is your choice how to spend it. 

People who try to rush at becoming a profitable trader rarely (if ever) do. 

People who take a year or two to learn it properly have a much greater success rate.

If you are a member of Betfair Trading Community you will know this, having spoken to people like this on the forum.

Slow and steady wins the race!

 

2. 'Well, another trader had done well with the strategy, so I thought I didn't need to test it myself.'

Just because someone else has had success with a trading strategy, it does not mean that you will. 

It is so important to test other people's strategies as you don't want to be relying on just that person for success.

You may find their style of trading does not suit you, or that you are not as profitable when trying said strategy.

No matter the strategy, how long it has been tested etc etc, you must always test it yourself.

Put it this way, do you want to invest your money based on someone else's opinions, when you haven't checked it out yourself?

I wouldn't, no matter how good at betting or sports trading they may be!

 

3. 'I just didn't really think about it and used large stakes straight away.'

People who are new to Betfair trading often just dive in at the deep end. 

'Let's get stuck in!'

This isn't a weekend trip to Vegas, we are gambling to win, not for a good time (although I find winning feels very good!)

The only place you should dive into should be the learning resources at Betfair Trading Community.

Learn the game, learn the profession and do your due diligence before investing serious money into Betfair trading. 

Take a minute to really think about your trading before you start going in head first at it.

You will likely save a lot of money at the start of your journey with the added bonus you are much more likely to make some later on in it!

 

Some people don't like to hear it but if you really want to be successful and profitable trader, then you simply must test all of your trading strategies first. 

I use 3-6 months as a testing period, ideally with a few hundred results to analyse one testing is complete. 

Make this a part of your trading discipline and routine and I don't think you will regret it.

 

Hope this has helped, as ever if you need any advice or have any questions just email me: [email protected]

Until next time folks!

 

One of the great privileges I have as someone who looks after a community of Betfair traders is that I get to see sports trading from all angles.

People of all ages (above 18!), shapes and sizes. From trading careers that are just starting out to professional traders that have mastered the Betfair exchange.

 

Why do I mention this?

The truth is that every trader is unique, no two journeys are identical.

 

Why does this matter?

I think it matters because traders (and people in life in general) do not look inwardly enough.

 

Why is this?

There is a lot of information about Betfair trading out there but from what I have seen very few people have ever focussed on what matters most - YOU!

The reality is I can show you all the trades in the world and explain them in detail but has that helped you correct any of your issues or train you as a trader, maybe but your personal journey is that, yours.

So your learning needs to incorporate you.

 

 

This is a big part of the reason we offer the one-to-one coaching threads on our forum and why we focus so much on working with traders individually to improve their discipline and mentality.

The problem is simply that if you are being held back in your trading, you need to be able to analyse that and understand what is happening. 

 

Let's give some examples of what can hold a trader back and then some advice on how to correct this:

1. Lack of confidence - You may not have the confidence in yourself or truly believe you can make the right steps to become a profitable Betfair trader. 

2. Lack of time - You may be rushing or forcing your trading into a narrow time window, making trades you would not normally do.

3. Lack of patience - You may be frustrated at not becoming a pro trader overnight, it takes time and work but you do not want to wait.

4. Family/Social life - You may have young children, a busy social life or a job that takes up all of your potential free time.

5. Focussing on others trading ability - You may be jealous of how others or doing or put yourself down because you are not as good a trader. 

 

1. Lack of confidence

Confidence ultimately comes from feelings within us as to whether we believe we can do something.

It is perfectly normal and sensible that you should have a fairly low level of confidence at the start of your trading journey.

You are entering into the unknown and it is safer to start from this position than being over confident and risking big amounts trading before you are truly ready. 

I say you should embrace this feeling and study, test and build your knowledge so that your confidence improves over time.

Very low confidence usually stems from overstaking, why not reduce or remove stakes and build slowly from there. 

 

2. Lack of time

I've talked about this in the past, so I won't labour the point but I believe 95% of people who really want to can find 7-14 hours a week to start to learn trading.

Now for the 5% who simply have no time no matter what they do then that is unfortunate but 95% of people do have that amount of free time at least.

Let's take 7 hours a week for example, to find that time I would need to watch one less Netflix episode a day or maybe cut out some of my computer games time.

Maybe I wake up an hour earlier in the day or maybe I relax my hobbies a touch.

If you really want to most people can find a way to do this, it's really more a question of how much do you want to trade on Betfair in your free time?

 

3. Lack of patience 

Why are so many Betfair traders in such a rush?

I've been a pro trader for nearly a decade and sometimes I miss the days when I was doing my apprenticeship, grinding out the hours to learn how to trade properly.

They journey is half the fun and the people you will chat to on the forum will be friends for life but so many people try to bypass this stage and just want to go pro straight away.

No only is that highly unrealistic but it is also impractical. 

You want the tough journey times to make yourself a better trader and to be able to handle bad runs when they come.

As Aerosmith said 'Life's a journey, not a destination'.

 

4. Family/Social Life - 

If you have been trading on Betfair for a while you have probably had to explain what you do to someone are doing. 

It can be a labourious task, some people just don't get it do they?!

Family can get in the way but it is important to tell them what you are doing and why, if you keep them in the loop they will likely be much more understanding. 

My wife wasn't particularly keen to know that I was a professional trader for a living but when I explained it all thoroughly she got it, it just takes some honesty and openness on your part.

 

5. Focussing on others trading ability - 

Why is everyone so obsessed with comparing themselves to others? 

Is this really how we want to value ourselves?

I know we are pressured into this by society and the media advertising how we must 'keep up with the neighbours' etc but the reality is that this does not matter as much as you may think. 

I play tennis and am quite serious about it, however, if I compared myself to Roger Federer - well there is no chance I could ever get remotely close to that level of playing.

So if I'm concerned about others doing better than me by this logic I may as well pack the game in, hang up my racket and never step on a court again. 

Stop worrying about how other traders are doing as it is a distraction. 

All you need to do is set your own goals and work towards them.

 

The reality is that deep down the only thing holding any of us back is ourselves.

Don't forget to look introspectively every now and then, see what your internal barriers are and most importantly -

SMASH THROUGH THEM!

 

Hope this has helped, as ever if you need any advice or have any questions just email me: [email protected]

Until next time folks!

 

Following from last week's blog post about Betfair exchange trading using a 'gut feeling'. I was asked a great question on our Betfair Trading Community Youtube channel.

(The channel is here by the way incase you haven't subscribed to it yet): https://www.youtube.com/channel/UCA56xYPA0sMOevWP7J5EyBA

The question from Scott was:

'Interesting video, would be interested to hear about how you deal with gut feeling when you're in a trade?'

So today I will answer this!

There are a few things we must consider when acknowledging our 'gut feeling' whilst we are actively in a trade.

The first thing to do is work out whether our feeling comes from a place of bias or is a genuine one which we need to take more notice of.

How do we do this?

In my experience there are two main types of bias that effect our Betfair live trades whilst we are already trading inplay and people tend to be one or the other.

These are:

A natural positive outlook - The eternal optimist. A person who believes that their trade will win no matter what as there is always a chance of it turning around.

Or -

The constant negative outlook - The permanent pessimist. A person who always believes their trades will lose no matter what as it could always go wrong.

I am sure many people reading this will be able to relates to these character types. Especially the 'permanent pessimist' one.

Now if either of these are you, then you can probably ignore this line of thinking and carry on with your inplay trade.

Why would you exit or divert from your plan when you know your mind is just trying to make you think unrealistically about the trade?

Quite simply, you shouldn't!

Although, there is one exception to this rule.

If you are feeling the opposite way to your usual mindset this is a huge red flag!

So let's say I am an eternal optimist when trading, I'm constantly fighting against the fact my mind believes every trade will win.

However, I have just entered a trade and am now feeling negative, as if the trade will lose.

This is a big warning sign that you should probably exit the trade - The fact you are an optimist in general but not on this occasion is possibly your brain's way of communicating that you should not be in this trade.

 

Once we eliminate bias from the equation we need to look at why our 'gut feeling' is telling us something during this inplay trade.

Has a major event happened since you entered the trade that means your plan may have gone out of the window? Like a red card in a football match, or a wicket in the cricket.

If so then yes you will need to evaluate your position and decide a new plan for the trade. If in any doubt about this there is a very simple answer.

Just exit the trade.

Too often Betfair traders stay in a trade after their plan has not come to light, only to see their position in the inplay trade get much worse.

 

So let's say you have eliminated the bias factor and there have not been any major events since you entered the trade.

Your gut feeling is still telling you, however, to either exit or stay in longer.

How do you know whether or not to follow it?

I've said it before and I will say it again. Test, test and test!

Test how your 'gut feeling' is performing when trading inplay on the Betfair Exchange. After a couple of hundred results see if it really is telling you the right thing to do.

Make a note of what it tells you and if you had followed it would it have performed better than your original trading plan?

If so then there is nothing wrong with following it but if not just stick to the trading plan!

The brilliance of properly testing all of these 'gut feelings' you have is that if you are at all unsure of how to proceed, your results and research will give you the answers you need without you having to guess at it.

 

Hope you enjoyed reading this blog post, if you have any questions on anything please do not hesitate to ask me on the forum or email me: [email protected]

 

If you have been around Betfair trading on the Betfair exchange or even if you have just been a punter at a bookies, you will probably have heard someone talk about how their 'gut feeling' was the reason behind a trade or bet.

For those who are not aware, the definition of a 'gut feeling' is a feeling that someone has that seems to predict what will happen, not based on any actual logic.

So let's give an example. A man decides not to get on a plane one day, the plane crashes and everyone onboard dies. When asked why he did not get on a plane the man said 'I just had a gut feeling that something was going to go wrong, so I did not get on the plane'.

In this instance the man had no prior knowledge that would help him make this decision, just a feeling within himself. It could be a coincidence or a higher power but it's not possible to know for sure.

Why do I bring all of this up? 

I know of traders and bettors who use the Betfair exchange and their gut feeling to make trades or bets. 

What I want to do today is examine this, whether I think it is the right or wrong thing to do and to think about where these gut feelings actually come from. 

First off, I will be really honest with you, I cringe a bit inside when someone tells me, 'Well, the reason I made the trade was I had a gut feeling it was going to happen'. 

Why is this?

Well I get a similar feeling when I hear phrases like: 'I put a bet on that football team because I really like the colour of their football kit', or 'I traded on that horse because I really liked the name'. 

What's the big problem? There is no logic or basis to these trades. If you win it is luck and if you lose it is luck, you may as well go into a casino and start betting on the roulette wheel.

Betfair trading is heavily skill based in the long term and those who succeed at it, do so by using their Betfair trading skills to have an edge on the trading markets. 

There is no logic to the idea that a team will win because you like the colour of their kit, or a horse will do what you want it to because you like the name. 

In the same way I would suggest if you are trading on something just because of a 'gut feeling' then you are relying purely on luck and are not using the skills that you could to actually make money in the long term.

Put it this way, if you have any doubt about this, I have been heavily involved with Betfair trading for 17 years, met many pro traders some of whom I speak to on a daily basis and not once has anyone ever said to me 'I make money long term trading based purely on my gut feeling.'

So should we just ignore our gut feelings?

You may expect me to say, 'YES!' but actually I don't think we should ignore our feelings.

There is a way in which gut feelings can be useful when trading on Betfair.

What I have noticed is that gut feelings often come from a place of knowledge when relating them to trading. 

Sometimes we may have concluded that a team should win a football match but we may not know why.

So it may feel like we have a gut feeling about it but it could be that we actually have done some subconscious thinking to come to this conclusion. 

Take a team you support for example, let's say you have a strong feeling they will lose today, is this just natural supporter pessimism or do you in fact have the knowledge that other team is simply better and more motivated. 

Maybe your mind has been working it all out while you think you are thinking about other things. Who is to really know where these 'gut feelings' come from?

We could get deeper here and turn this into some kind of psychology lesson (my Masters in counselling may finally be used!) but to be honest we don't really need to.

The truth is having a 'gut feeling' about something is fine but to truly use it for trading you need to back it up with research.

What separates the average Betfair traders from the Pro Betfair traders? Often it is research and hard work. 

Regardless of your position on the validity of a 'gut feeling' the simple solution to find out it's worth is to research the selection, see if your feelings match up with the evidence and hard data and work from there.

The next step is to test it, trade the selections without money, just note down what happened and whether you would have won or lost money based on those picks. 

See, if you research and test your selections and find that they do make money, then great you have done your Betfair trading due diligence and can use them as part of a trading system or trading strategy. 

This is the key to everything with Betfair trading and this 'gut feeling' you have is no different.

I will leave you with this, it is amazing how often people had a 'gut feeling' after something already happened.

I am watching a TV show called 'The Circle' on Channel 4 at the moment and people have to talk to each other online without seeing them ever in real life. Some of the people are 'catfish' basically pretending to be someone else.

Why do I mention this?

Well often these people find out who the catfish is after they leave the show and nearly always they say 'I knew it', 'Or I had a feeling something was up'. Yet strangely, they never mention this before they find out. 

Now if these people are being honest and not just saving face then there is a lesson to learn here. 

When your 'gut feeling' is telling you a team will win or a horse will lose, it is probably that your brain may have picked up some clues about what is happening or going to happen.

So we should not ignore this but rather we should look further into it.

Looking further into it means that we should research the selection and test them over time to see if they are profitable.

If they are then great, we have a profitable Betfair trading strategy, if not well let's test something else! 

Hope you enjoyed reading this blog post, if you have any questions on anything please do not hesitate to ask me on the forum or email me: [email protected]

 

@matthew-biggins you bring up an excellent point, it's important for traders to remember what it is like at the start of the journey.