Hello Community...
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Hello Everyone...
Joined today for a couple of days to have a look around.
As instructed by Ryan, "I'm 100% in!" (Well kinda, not all of my bank is in Betfair because I have no idea what I'm doing there! The rest is in safe keeping away from my wife's insatiable need for shoes).
Having been limited from almost all the major bookies (Bet365 4 times now!) I'm thinking I need to change my approach somewhat. I've managed to build up a decent bank following the horses, football it seems has always eluded me, which is annoying because I love football, I just pick the wrong result consistently. I guess I'm one of the "acca boys" at the betting shop on a Saturday afternoon that Ryan talked about! I know the issue is emotional betting, unlike the horses, which are literally a more sober affair during the week.
Never really considered trading all these foreign football leagues but I guess if there's some value there, then I'm in.Cheers
Richard -
@richard
Yeh it's a bit surprising isnt it when you play by their rules then they come along and say yeh you are banned, because we said so lol.
It sounds as though you were spotting over priced horses in the morning backing them to win? But a fair few times they were coming in before the event? (if so thats gold for Betfair, you could back them on the exchange and then trade out before the event by laying it).
I noted as well you asked about covering the subs, I'd aim to try and see the subs and the community as an investment in your education of trading first.
Work through the videos here: https://forum.betfairtradingcommunity.com/category/10/new-members-start-here
Then the goal is to move through the levels to the point where you want to be, those levels are:
5 Level Framework
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Level 1
Goal - First profitable trade
Skills required
Mindset required -
Level 2
Goal - First profitable day trading
Skills required
Mindset required -
Level 3
Goal - First profitable month
Skills required
Mindset required -
Level 4
Goal - Consistently profitable - Part time level - £1K
Skills required
Mindset required -
Level 5
Goal - Full time trading
Skills required
Mindset required
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Ok, so a question, and a challenge I guess...
What size bank would I need to cover my £72 subscription for this month? I don't even want to profit for this month, just see if I can cover costs.
I currently have just £300 in there, is that too small? I can deposit more if it makes it easier but I guess the question is; on an average month, if I behaved myself, and acted like a quasi semi-pro trader then how big should my bank be to gain £72...
I do understand that's like asking how long is a piece of string as you don't know me nor my discipline etc??
Could it be done on a bank that low I guess is the question
Thanks again for taking the time to read my posts
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@ryan said in Hello Community...:
@Richard This put a smile on my face reading this, I like it.
We better get you some money then to cover these shoes, some great points in here too.
I like that you are using the horses as they are less of an emotional tie to you.
How did you get limited on Bet365, winning too much on the horses?
Hi @Ryan
Firstly thank you for taking time out to reply to me, that goes for @Martin too and also a special thank you to the @adam for developing all the tech, I heard in a recent video that he doesn't get enough praise so cheers to all.
Yes, limited on Bet365 for winning essentially. Sounds daft, I never thought that could ever be true since I'm playing by their rules, playing the game they themselves set up, and simply locking in their stupid prices before most people get out of bed! I had endless livechats with them about this and got the same old thing every time which was, "we do not have to tell me why your account is restricted, it just is!"
It's not only them... The first account to limit me was Betfair SB which was surprising, but I guess that side of the business is literally a bookmaker and they want to move profitable gamblers over to the exchange side.
SkyBet were fairly early on too, but me and my brother did take advantage of their cashout for a while, just cashing out every horse/greyhound that was in profit before the off. Allowing us to stake upto £250 on a dog only to cash it out an hour later, I guess, that stuck out like a sore thumb with the so called "liability management team", so I don't really blame them for that one.
So yeah, here I am, I still have a B365 account in my father-in-laws name. Just imagine for one moment asking your father-in-law if you can open a gambling account in his name!!!
Exactly!!! He's the last one as well. My mum lives in the States and MY Dad would refuse outright.So I'd like to know how to trade on Betfair please? I'm kind of guessing the same rules apply, to look for overpriced probabilities?
These filters are epic, had a little play over the last few days and WOW. The profitable member filters are great, there's one with an ROI of 77%
, and a version 2.0 in testing.So yes, consider me 100% in Sir
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@Richard This put a smile on my face reading this, I like it.
We better get you some money then to cover these shoes, some great points in here too.
I like that you are using the horses as they are less of an emotional tie to you.
How did you get limited on Bet365, winning too much on the horses?
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@martin said in Hello Community...:
@richard well done on not having all your bank in Betfair, I only keep 20-25% of mine roughly in there, I'm not using the other 70-75% so why even let me get tempted to do something stupid on a bad day!
Welcome to the club! If you need any help just ask
What's been making you money on the horses?
Morning Martin,
I had an Ah Ha moment with the horses about 15 months ago when I finally realised what "value betting" was. I'm looking for early prices sometimes the evening before but mostly before 9am on the day of racing which stand out as overpriced. Bet365 were/are the softest of soft bookies on this front, sometimes double the price of the rest of the industry. Interestingly there's a pre-set on this site which looks for Pacey horses which was very similar to what I was doing. Then I wait until near the off, check the price on Betfair, if the Betfair price was a good chunk lower than the price I got in the morning, then I knew I'd got the right horse and would let it run, if not I'd aim to cash out my bet.
Didn't win them all, far from it, but won more money then I lost over time.That's it really, no in depth, expert like knowledge of horse racing, just looking at the numbers, and finally learning an ounce of self control as a 42 year old man has been the most rewarding part I think.
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@richard well done on not having all your bank in Betfair, I only keep 20-25% of mine roughly in there, I'm not using the other 70-75% so why even let me get tempted to do something stupid on a bad day!
Welcome to the club! If you need any help just ask
What's been making you money on the horses?
