New blog post by Ryan Carruthers! #2 Meet The Betfair Trading Community Members - Keith Anderson
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The first post from The Betfair Trading Community's Meet the Members series was so popular, we are continuing to champion the good ones!
The first post from The Betfair Trading Community's Meet the Members series was so popular, we are continuing to champion the good ones!
If you are a regular reader of our Betfair trading site, you will know that we want to take the 95% of losing traders on Betfair and turn them into profitable traders, this is the next installments from BTC on our 'Meet the Members' series. I hope this story about one of our longest-serving members at Betfair Trading Community and will inspire you in your trading on Betfair.
Just to recap, I came up with this idea of asking the members a set of questions, they all got the same and I will be posting one a month so that you can see their answers to the trading questions, gain inspiration and hopefully learn from them.
The questions are as follows...
- Do you remember the first time you traded on Betfair? What was it like? Did you notice anything around your emotional state?
- What was most surprising to you about Betfair Trading?
- What attracted you to Betfair Trading?
- What was the biggest challenge you’ve faced in trading on Betfair? & what steps have you taken to face that challenge?
- How has your trading changed? & why do you think this has changed?
- What is your outlook for the future trading on Betfair?
- What have you learned about trading on Betfair?
- Is there an achievement you or contribution you are most proud of?
- Is there anything you think I should have asked you but I haven't?
I have no fancy order other than who responded first to me, let me introduce the second person in this ‘Meet the Betfair Trading Community Members’ series!!!
Keith Anderson, this guy is stuff of legend on the forum. When he posts people listen, he came to BTC with a simple goal and he has progressed his trading to an incredible level, he keeps his trading very simple - he embodies the less is more approach.
Meet the members series - Keith's Answers.
- Do you remember the first time you traded on Betfair? What was it like? Did you notice anything around your emotional state?
I was copy trading. I had been following a BTC members trades for a few days and saw how successful they were. I was probably a little hyper and excited. It wasn't a successful trade so the good feeling didn't last too long!
- What was most surprising to you about Betfair Trading?
How easy is was to enter and exit a market. Even if you had little or no experience of trading at all. Any fool can place a trade - this can be both a blessing and a curse.
- What attracted you to Betfair Trading?
A free 'no lose' bet probably attracted me to Betfair Trading. What attracted me to BTC though is something completely different. I had been paying and following 'Football Tipsters' on Twitter. Some were actually quite good and some were absolutely brutal. I always wanted to ask them what informed their selections, but they never answered me. They obviously didn't want me to know. In essence, BTC were going to teach / show me how to trade. I could make money by myself.
- What was the biggest challenge you’ve faced in trading on Betfair? & what steps have you taken to face that challenge?
Trying to run before I could walk! Being greedy! Why make £10 per trade when you can make £50 per trade?! Also, I had difficulty with variance and discipline etc. I kept looking for more trades, overstaked and over traded.
Is was difficult at the start when I misssed trades or trading opportunities. When you're trying to build a bank you want to get there as quickly as possible. On busy days I may have 30 potential trades on my Watch List, but I'm happy to only trade 3 or 4 of the 30 selections.
- How has your trading changed? & why do you think this has changed?
I'm less impulsive now. I suppose I have more confidence in my selections. I am more confident in my strategies, but most of all I am more confident in executing my trades.
- What is your outlook for the future trading on Betfair?
Just consolidation for me. Possibly start trading a new sport, but I'm in no rush.
- What have you learned about trading on Betfair?
It is simple. There's no need to complicate things. Am I a good successful trader? I'm not sure, that's for others to answer. What I can tell you is I'm unsure about a lot of things in trading - like terminology, how to calculate simple things like ROI - but for me that doesn't matter (yet). I suppose I've learned more about the psychology of trading.
- Is there an achievement you or contribution you are most proud of?
Having 37 successful trades in row! My biggest achievement is making the change from being a gambler to a trader and the financial freedom it will bring.
- Is there anything you think I should have asked you but I haven't?
There was no answer to the last Q, so I must have asked everything relevant! There you have it guys, after the first one the feedback was so great that I was really looking forward to getting this one out to you. I am really interested to know what you think to the answers here?
