Smal stakes to big stakes

We were all new to Bet Angel once. Ask any question you like here and fellow forum members promise not to laugh. Betfair trading made simple.
Post Reply
bimbi
Posts: 97
Joined: Sun Nov 27, 2016 12:13 pm

Hi,guys.I have a question to the big guys ,but any opinion will be appreciated.I was doing the last few days very well on 10,20 pounds stake:80,90 % strike rate and I thought ,lets play properly.Today my stakes were over 100 £ and everything was the same ,like the last few succsessful days.Im mainly contrarian.So everything was fine,even the different odds stakes,lesson from yesterday.And what: what a disaster.Lost a lot today,namely 60 £.If possible Derek27 ,to tell me his opinion as well,please.Any thoughts will be welcome.Thanks guys.And I did various entry points as well.From 7 th to 3 th minutes.Nothing was going my way ,like the last few days is been a dream.Thanks.
Last edited by bimbi on Sun Oct 08, 2017 7:16 pm, edited 1 time in total.
User avatar
Derek27
Posts: 23468
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Hi Bimbi,

Going up from £10/20 to £100 stakes is a massive leap and bound to end in disaster. It's also quite dis-orientating - your £60 disaster would have been a £6/12 disaster at your previous stakes so you'll lose grip of what actually is a disaster.

I would advise you to keep to the same staking level for a few weeks and if you're making (or have made) a consistent profit (a few days isn't long enough), increase stakes gradually, possibly doubling stakes when you've doubled your bank.

Good luck,

Derek
bimbi
Posts: 97
Joined: Sun Nov 27, 2016 12:13 pm

Thanks very much Derek,always very helpful advise.But the most confusing thing is ,I was doing exactly the same things ,and it was like the last about 7/8 days succsess never happened.Sorry if Im boring you.But where is the logik,7 days on small stakes -very succssessful,and with the big stakes -different world.Must be some logical thoughts.
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

10 20 or 100 makes almost no difference re execution. All that's happened is that your bad day just happened to coincidence with raising your stakes OR the larger figures just freaked you out.

As Derek says you've also lost your perspective on the figures. If you're trading in say £100 units and you've lost £60 on the day then sure it's not been a good day, but it's a million miles from a disaster. - 600 would have been a disaster, laying 100 @7 and going inplay.

1st tip though would be to stop worrying about your p&l for a single day. Look at your results for a month min or natural variance will either make you feel like a genius or an idiot when neither is probably true.

Actually you said you'd been doing well so decided to step up... How long had it been doing well? A month or 2/3? Anything less than say 500 markets (approx 1 month) and I'm not sure you'd proved you were even profitable let alone in a position to scale up so much.
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

bimbi i think you have made the mistake of thinking i made x amount with £10/20 stakes therefore if it was £100 stakes then it would be 8 times what i have made but you havent took into account wether you can trade with £100 stakes in exactly the same way as with £10/20 stakes . i am talking about the mental part of it ie are you able to hold the bigger liabilities as long as you do the other stakes nearly 8 times as much .it is a big step up if your not ready for it .why not up your stakes £5 every certain increase of your bank it could be every £100 your bank increases or every £500 its your decision .better to build slowly rather than end up with stakes way to big that you can handle mentally ..i have done the stake increase quickly myself and ended up stressed out as i wasnt ready for it so i slowly increased .just thought i would comment :D
bimbi
Posts: 97
Joined: Sun Nov 27, 2016 12:13 pm

Thanks very much ,guys,but I was not scared at all,acctually. I don t call disaster my money loss ,thats ok,I lost before a lot .30000 within a montth ,or 7000 within a week.The money is not important at all.What is important on the case is that ,after a week on 80/90 % strike rate ,today I was on 10%.How am I gonna be so suddenly so badly wrong.May be I need to say that I v been succsessful on betdaq and just come today back to betfair,but I know for sure ,that the prices are the same and go the same way,so stil confusing.But is not the money .I was acctually very surprised ,how calm I was .I was a bit anoyed with my strike rate ,but no where near concerned.Just going from strike rate 80 to like 10 really cought me unprepaired.
User avatar
Derek27
Posts: 23468
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

SW and T44 have both made interesting points. Everybody has a level of liability that will cause them to panic or be seriously worried. You can increase your bank and your stake by five-fold, but psychologically, you cannot raise your panic level five-fold. It has to be done gradually.

You also need to take into account that bigger stakes restrict opportunities in low-liquidity markets, but open up new opportunities in other markets, and result in a changes in strategy to continue success. Again, this transition needs to be done gradually.
Last edited by Derek27 on Sun Oct 08, 2017 9:55 pm, edited 1 time in total.
bimbi
Posts: 97
Joined: Sun Nov 27, 2016 12:13 pm

Thanks very much Derek
User avatar
Derek27
Posts: 23468
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

bimbi wrote:
Sun Oct 08, 2017 9:00 pm
Thanks very much ,guys,but I was not scared at all,acctually. I don t call disaster my money loss ,thats ok,I lost before a lot .30000 within a montth ,or 7000 within a week.The money is not important at all.What is important on the case is that ,after a week on 80/90 % strike rate ,today I was on 10%.How am I gonna be so suddenly so badly wrong.May be I need to say that I v been succsessful on betdaq and just come today back to betfair,but I know for sure ,that the prices are the same and go the same way,so stil confusing.But is not the money .I was acctually very surprised ,how calm I was .I was a bit anoyed with my strike rate ,but no where near concerned.Just going from strike rate 80 to like 10 really cought me unprepaired.
Bimbi, the whole point of trading is to make a profit. what's the point in having a good strike rate if it loses you money (I presume the £30000 loss in a month was a typing error).

It's quite common to do well on the exchange and then suddenly it all goes tits-up - It's usually down to complacency. You will find a lot of advice about this in the Psychology threads.
oliver123
Posts: 174
Joined: Thu Sep 24, 2009 9:25 am

For what it's worth I traded just over £6000 this afternoon on the races and made a profit of £292.00. You can make of that what you will. At the end of the day, its all about being positive and making money. We can theorise the ins and outs until the end of days. Just watch your strategy and be careful!
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

" You can make of that what you will" dont quite understand that part of your post .well done on making the profit though :D
Post Reply

Return to “Bet Angel for newbies / Getting started”