New Member from Hertfordshire
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Hi my name is Jason, from Hoddesdon, Hertfordshire.
Absolutely useless at trading, but want to learn as love football trading however confused by how many strategies there are and have in the past blown thousands. Have decided to start really small due to experience and frustration of loss. Used to work next door to Betfair when they were situated in Stevenage. Love the concept but my urges have to be conquered as emotional betting/trading kills me every time
I want to get out of rat race, but working from home really helps since Co-Vid and I can trade and work at same time. Not sure if good thing or not.
Just want to leave a legacy for my wife, kids and our foster kids, and after having two heart attacks and a stroke, I want to provide for their future's should one of the unfortunate live events take me away.
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@jason-naylor That's what I love to hear, so much great guys in this forum who are happy to help.
Keep me informed of this won't you?
One of the best ways to do this is on this section: https://forum.betfairtradingcommunity.com/category/3/members-trading-plans-accountability-blogs
click new topic - call not what you are working on and then you can use that to update the progress, it's also good for you to document the journey!
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@ryan Hi Ryan, thank you for helping me out here. You, Dan and Liam along with others have certainly made me feel part of the BTC family and made me more determined to succeed.
I'm going to stick to SHG'S and have even created little spreadsheet for what I'm calling FH Wins, which using the filter to establish minimum 80% goal in 1st half, with small stakes to start with, if 0-0 at HT, I can recoup in the second half thanks to your SHG filter.
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@dan-mackinnon oh my god, thank you so much Dan , you've helped me so much already.
I think your advice of set and forget SHG is fantastic and really appreciate your support and guidance
I'm going to paper trade for a few days to see what best approach will be as I've fallen into old habits already of getting frustrated when a trade didn't go my way and then trying to play catch up.
I've really got to stop that and I think paper trading is the way to go for now.
Once I've gotten over that then I can start with my Ā£3 stake again and not try to rush.
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@jason-naylor I think its always good to stick with one strategy and build that out, I cannot say whether the idea of the strategy is good or not but the data will tell you
Then you will know whether its worth following or not.Yeaaa man leave them too it, they'll all be wanting tips when you make it!
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@jason-naylor Now is probably the best moment to take your time and focus on what you want as there's a changeover from winter to summer leagues.
When picking what strategy you want to pursue I would recommend considering
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What 'style' of trading you want to do - there's set and forget, in play trading like SHG, or active trading where you enter and exit. If you struggle with discipline it's best to try and go for a more hands-off approach. The more you can remove human error the better, I know that from experience! I see you've mentioned HT LTD below, so if we take that as an example, I would probably refer to that as an active strategy because you need to get in and out. You could enter at HT and let it run but will want to test to know that's profitable. Alternatively you could do a SHG/ LCS which is the same outcome that you need another goal but you don't have to worry about trading out.
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Following on from the above you can see what you want to do that fits that style. If you need a certain number of goals or scored at a certain time that will help you build a filter - or you might find there's already a filter under the profitable members section.
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Start paper trading and try to fully understand the process. You want to know what will happen on different circumstances, that will all add to experience and with that you'll be able to spot opportunities and know when not to enter.
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From now until probably August it'll be relatively quiet so don't try and force anything. Take this time to learn and paper trade different strategies/ approaches and see what you enjoy.
Hopefully that's a good starting point and a few ideas to work on.
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@dan-mackinnon Hi Dan,
Firstly I just want to take this opportunity to thank you for taking the time to explain the milestones you are using it has really opened my eyes to what is possible. I really appreciate it.
I had another loss day today but only Ā£5 after making Ā£10 yesterday.
I think i need to stick to one strategy for a whole month to see any progress as I keep changing strategies and its driving me nuts.
Thank you so much
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@jason-naylor I understand what you mean. This is what's great about BTC, you have people doing this full time with larger stakes/ banks, others part-time, and some just as a hobby with comparatively tiny banks.
For me, I'm using 2% stakes and compounding every time my bank increases 50%.
If I was to use straight increases it'll look like this:
Ā£100 = Ā£2 stake
Ā£150 = Ā£3
Ā£200 = Ā£4
Ā£250 = Ā£5
Ā£300 = Ā£6
Ā£350 = Ā£7
Ā£400 = Ā£8
Ā£450 = Ā£9
Ā£500 = Ā£10Using the above, the number of winning trades required to reach the next level would decrease from 25, 17, 13, 10, etc. down to 5.
If I was to compound the number of winning trades will remain at 25 before each change. I prefer this as it allows for more variance when changing. When I compound them the stakes are as follows:
Ā£100 = Ā£2 stake
Ā£150 = Ā£3
Ā£225 = Ā£4.50
Ā£337.50 = Ā£6.75
Ā£506.25 = Ā£10.13
Ā£759.38 = Ā£15.19
Ā£1,139.06 = Ā£22.78
Ā£1,708.89 = Ā£34.17
Ā£2,562.89 = Ā£51.26Both give you the same results, and would work on the way back down if you hit a particular rough spell. However, by compounding rather than straight jumps you protect yourself against that. Also, by the point you've reached Ā£2.5k bank, you're using Ā£51 stakes the same as you would Ā£2 with Ā£100 bank, but you've got a lot more trades as experience
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@dan-mackinnon Hi Dan,
Thank you for getting back to me.Wow I really appreciate your help and support with this as I was embarrassed as I read the bankroll thread for starting up and mentioned very high figures.
I like the milestones you have mentioned and would like to know how to do this as I'm using % of bank for stakes and think 10% is quite high per trade.
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@jason-naylor said in New Member from Hertfordshire:
@liam-willis Hi Liam, thank you for getting back to me and sorry for the delay in replying to you. Do you know what you have certainly become a good predictor, because that is exactly what I did, I stayed for the past couple of days on LTD before kick off and couldn't understand why I won about 3 or 4 trades (a couple of quid each) but then lost one trade which wiped out my profit and put me a few quid down too..... Because I traded too early or did not have the right filters. I think I'm going to start doing HT LTD for the next few days and see what happens.......
sorry mate ive just seen this, the pre kick off ltd is the first thing people jump on but its probably one of the hardest things to get right, ht ltd is much easier to learn. if you do go for pre kick off look at ryans betgreen filter that one has been tried and tested. as for bank dont worry about that its irrelevant until you have learnt to trade, its best to keep it at a minimum.
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@jason-naylor hi Jason, donāt be embarrassed by Ā£200 bank. As they say, itās not the size that matters, itās how you use it
When I first started on here I used Ā£10 just to get my head around what was going on. From the start of this year Iāve had some more free time so was able to take this a bit more seriously. I started with Ā£100 in Feb and itās currently sitting around Ā£150. A couple of guys on here explained compounding stakes and I readjust when I hit certain milestones. Right now Iāve just bumped up from Ā£2 to Ā£3 stakes, however a few more milestones down the line, what is currently Ā£3 to me will quickly become Ā£50. A couple after that it becomes Ā£200.
As much as we all want to get ahead, remember itās a marathon not a sprint. To use an analogy, itās like learning to drive a car going slow in an empty car park vs learning to drive on the motorway.
Hopefully thatās of some use but Iām always happy to talk more
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@matt-wood Morning Matt
Hope you had a good weekend. I think Scarlett will make it but keep forgetting that she's only 17 but got debut in Conti Cup this season vs Coventry Utd women and trains with the first team so she's heading in the right direction. She'll probably go out on loan this coming season to get match experience and if stays with Spurs 1st team squad, will get a Fifa player card...whoopee
Anyway I'm rambling on here, thank you so much for your advice and I'll be going through the posts and threads as much as possible everyday and hopefully will be in profit this time next week as starting out with one strategy at a time.
Have a good and prosperous week
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@ryan thanks for the advice Ryan, I really appreciate it. I just want to prove them wrong and actually make it as a trader.
Which I guess I already am, but just not a good one...yet !
As embarrassed as I am, I've started with Ā£200 but already down Ā£17 as I'm a little impatient and there's so many strategies to consider, and with the setting up of what needs to happen via the filters it takes time to sort out. I'm a novice but willing to learn.
I'm going to start by concentrating on FHGs, I'll wait for either laying 0-0 to hit 2.5 and then enter or LTD 1st half to hit 2.20 and then enter, if goal scored before, then on to the next. That way I hope to not lose as much.
Is that a good idea? Or not?
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@jason-naylor
Ignore your mate, he's a trader who makes his money from trading saying trading isn't worth doing - pot, kettle springs to mind. Yes, he trades other things but why doesn't sports work?
Sports trading for me is the same as what he would call proper trading - with less barrier to entry & a lot more fun, I mean we make money from the greatest thing (after Blake Lively) which is sport!
Wow, she must be pretty good then!
How are you planning to start?
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@jason-naylor Morning Jason, first off you must be a proud father, lets hope your daughter's career as a footballer takes off
I stumbled around with the filters for a while when I started here too, I was an utter novice at this trading lark, still only see myself as a beginner now. I have learned so much though thanks to the people here.
I'm no expert on the software but any questions just ask, I will try to answer, make a mess of it and someone here with better knowledge will correct me. Joking aside, there is always someone here who will offer help. The forum holds so many gold nuggets in people and old posts. If you can, spend some time reading through old threads here. Also interact with people as much as you can, everyone is really helpful and there are no stupid questions.
Don't be worried about only starting with Ā£200, I only started with half that. Better to learn with small stakes than big ones, since you will almost certainly make mistakes, think I made just about ALL of the mistakes possible.
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@martin Hi Martin,
Thank you for saying hello and nice to meet you.
I've read through the links you sent and has really helped me lots already.
I've decided to take all the advice given so far, and will start a fresh tomorrow after one losing trade, because I want to concentrate on one market to start with and stop trading with level stakes and instead use % of bank to see where I am this time next week.
Here's hoping for a successful trading career.
Have a good week
Kind Regards
Jason
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@ryan Hi Ryan, and thank you for taking the time to say hello.
That would be awesome and would love to be able to become a football trader, as I could then silently stick two fingers up to my Just Over Broke (JOB), and be able to start to give my family the kind of lifestyle they deserve and prove to my wife that football trading works, and also a friend of mine who works as a trader in London, who has told me on numerous occasions that sports trading is not worth the effort, time and money.
My dream (at the ripe old age of 53) is for me to be able to give up work, so that I can follow my daughter's football career and be able to pay for travelling and going to matches to watch and not have to worry about where the money is going to come from.
She is 17, plays for Tottenham Hotspurs Women Academy (at moment) and is a Wales U-19 international, so there is loads of travelling around the country that needs to be paid for from a parents point of view. I'm hoping that the football trading will pay for it..
Anyway sorry to have rambled on...... and look forward a very prosperous career in trading...
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@matt-wood Hi Matt, thank you so much for introducing yourself to me. I'm quite sure I'm gonna need all the help I can get in order to become a successful trader.
I found the filters very daunting that is for sure, because I find it hard starting with the end in mind and working backwards, plus not 100% sure on what the filters meant. I mean I get the first few bits but when it comes to the numbers part I got it wrong, but will play around with them for sure before starting again tomorrow.
Having read the beginner's guide, I feel a little embarrassed saying that I've started with Ā£200 instead of the Ā£2,500 or more advised, and have even lost Ā£26 over the past 3 days doing what I said and mentioned to Liam.
I will however keep playing about before starting again tomorrow.
Onwards and Upwards eh ...
Speak soon
Jason
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@liam-willis Hi Liam, thank you for getting back to me and sorry for the delay in replying to you. Do you know what you have certainly become a good predictor, because that is exactly what I did, I stayed for the past couple of days on LTD before kick off and couldn't understand why I won about 3 or 4 trades (a couple of quid each) but then lost one trade which wiped out my profit and put me a few quid down too..... Because I traded too early or did not have the right filters. I think I'm going to start doing HT LTD for the next few days and see what happens.......
