Betting to Trading

[Xeres]

Your postion sounds familiar.

Strike rate is a consideration but finding value is essential.

Paper losses do not invoke the same reactions that come with real losses. Some losses are within the model, others can be a problem. Understanding or accepting the difference is not easy.

Yeah results are based on value bets only.

The emotional aspect is one thing that is a concern, I am quite impatient and I'm not used to sitting at a desk trading since all my bets are place automatically.

I guess this is what most people face when they first try it?

[Derek27]

Using a few simple rules for dutching it has over 50% strike rate over all UK races in the last 18 months.

I have a dutching strategy with just one simple rule that has a 100% strike rate on any market you choose - and I'll give it to you.

Dutch every horse in the race.

I vaguely remember a spreadsheet (freely available) called the credit crunch killer system. You would attempt to dutch every selection in the race by adding x% to the whole race/odds, dependent upon number of runners, input "new odds" into Betfair and let the market move accordingly.

The ones that didn't match pre-off, could be traded out as a loss. (doesn't mean they'll go against you). It was surprising how many would be matched, guaranteeing a win. Also it was a good way of learning how the market moved.

That's more or less how I started out trading, only I would lay the entire field. You'd be surprised how easy it was to make money on the ante-post markets, though sadly they have gone dead now.

[firlandsfarm]

Ah well I want to do it full time and she won't let me do 'gambling' full time because that would mean I have a gambling problem.

It's perfectly normal for people to be concerned about what they don't understand, and education is much more powerful than expecting someone to change their attitudes by using blind faith alone or pulling the wool over their eyes.

As I alluded to in a post earlier today in another thread people don't understand the difference between gambling and betting and now they have a third status to take on board, trading.

There are times of significant downtrends as you'd expect and that is what my wife latches on to.

To bet professionally you need to have a mindset that copes with losses, your partner needs to have a similar mindset.

I did ask if there was any way to nominate 4/5 runners by name using other means but no one could answer that one.

I will immediately admit I have not thought this through but could you nominate your selections in an Excel worksheet per race?

[ShaunWhite]

I did ask if there was any way to nominate 4/5 runners by name using other means but no one could answer that one. I've therefore tended to do it manually.

The easy way is to run multiple instances of BA and nominate a couple of runners in each.

[ANGELS15]

I did ask if there was any way to nominate 4/5 runners by name using other means but no one could answer that one. I've therefore tended to do it manually.

The easy way is to run multiple instances of BA and nominate a couple of runners in each.

Yes thanks for the reply it took me a while to realise it myself the answer was so obvious!