Trading V Betting
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Trading today -£100
Dogs, horses, football (up on the footy)Gambling today +£120
Bet on a draw @ the Arse, 2 dogs & BTTS RosenborgNot an unusual day by any means. Frustrating though.
Rounded figures.My betting bank is seperate from my trading bank. Bets on bookies, trades on exchanges. I do sometimes steal from Peter (Betting bank) to pay Paul (Trading bank)
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@neil-mallett Thought that might be the case as not to blend the banks. I wonder if any of the challenger exchanges could get you good odds then you'd not worry about being restricted.
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@martin-futter @Ryan-Carruthers
I only use the exchanges for trading, this way I can be sure I don't get any conflict. Also odds I get on dogs are usually far better on bookies than any exchange, I don't know why that happens but it does. Also I prefer to take money from bookies anyway. :angry_face_with_horns: -
@neil-mallett This is true, can you place the bets on the exchange? They'll never restrict you on there or use Smarkets to get the bets on? Lower comms
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Yes, I have good discipline in both. In trading I don't really have a problem with trading out to minimise losses, it just seems to me that I have the knack of picking the wrong matches to trade.
However, I also have the determination to make trading work for me. I'm not giving up. I will find my way. After all the bookies won't put up with winning for long. Already lost 2 & restricted by Betfair. Betfair - fair as long as you lose. -
@neil-mallett It seems to me that your betting is stronger than your trading, nobody says you have to be a trader buddy - a lot of people think the difference between betting and trading is the discipline, people think straight away as a bettor you don't have discipline for me it seems you do have discipline in your betting and it works.
If your betting is making you more money and your profitable then stick with that you are obviously good at it and strong with it too matey
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And there we go 3 games I put together as a straight bet on a FHG to give me odds of just over 2 comes in nicely. A small profit on 2 dogs this morning too. So once again, betting 2, trading 0.
What should I do @Ryan-Carruthers ? Stop trading & double my betting stakes?
I did use BTC stats this time for the 3 O0.5fhg bet along with my own system. -
I've worked out why I win at betting but lose at trading. When I make a bet, I find the best odds, places the bet, then forget about it, literally, sometimes for days. Therefore, I never casn out and as I have winning being strategies, I come out on top.
Trading today. I prepared for today's games, picked out the best of my selections to trade and waited for kick off.
A couple of O1.5 games and several lay if they take the lead. Man city went behind, I layed their opponents, same with Liverpool. Both winning trades right? Not for me, keeping an eye on the games & watching my losses grow, I cashed out on both of them before the inevitable come back.
Set & forget seems to be the way to go for me. -
@ryan-carruthers no. I only use BTC for trading.
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@neil-mallett Interesting, do you use our stats for your betting selections?
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@martin-futter I wasn't advocating one over the other, each to his own as the saying goes. I was just using this forum to vent my frustration at my inabilty to regularly make a profit trading whilst often making a profit from what the public perceive as a mugs game. I am in profit from betting & have been for over 2 years, however, I want to be profitable at trading, that's why I'm here. I will keep trying until I find my niche.
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@neil-mallett if you are investing in a perceived value price there is nothing wrong with either approach, as you will see over the long term. the reason i prefer trading is that you can lock in profit long before the event is over and also have some insurance against a bad piece of luck like a red card in football for the team you backed.
