Where Am I Specifically Going Wrong With This Please?

[JustLukeYou]

You were laying prices at 10!

I was. The OP of that thread was laying prices at 500.

There's only one way for you to prove that it's not beginner's luck, get a very large sample of trades (500-1000) in your P&L that show big profit.

I am going to continue trading without a doubt but I have watched a few videos where they say you should focus on select teams but they also need to be matches I can watch.

[Kai]

Good luck (without sarcasm). But don't quit your day job, just in case it doesn't pan out how you hope it will.

[JustLukeYou]

Good luck (without sarcasm). But don't quit your day job, just in case it doesn't pan out how you hope it will.

I plan to slowly build it up over time. I read an interview from Psychoff where he says you should only trade with around 3% of your bank at a time but at the moment I don't have a bank. I am just trading for a pennies each time.

I am also taking a complete scatter gun approach to the strategies I use. Sometimes I will back a draw at half time and take the profit and back the team who I think will win to draw at half time and win the match. Other times like last night I just thought Flamengo would not concede a goal and they didn't but I traded out after 60 minutes but they did win 2-0.

I don't for the life of me know why someone would lay odds of 10. I don't understand how that can work long term.

[LinusP]

I don't for the life of me know why someone would lay odds of 10. I don't understand how that can work long term.

You need to understand value, there is value from 1.01 to 1000.

https://www.pinnacle.com/en/betting-art ... ATUVW3M3MW

[JustLukeYou]

I don't for the life of me know why someone would lay odds of 10. I don't understand how that can work long term.

You need to understand value, there is value from 1.01 to 1000.

https://www.pinnacle.com/en/betting-art ... ATUVW3M3MW

Thanks Linus, so you need to odds where the market is over or underestimating the abilities of a team?

[Derek27]

Derek27, if you said "You want to back odds that are higher then what they should be or lay odds that are lower than they should be that would be actionable"

FOR FUCK'S SAKE, are you seriously telling me that you didn't know that???

You run a business selling toys with a turnover of £250K a year and you didn't even know you have to sell for more than you buy???

Backing and laying are the same as buying and selling - you sell for more than a defined value and buy for less than that value!

Derek, I have been doing MatchedBetting for around 3 years. I know what Backing and Laying is. I have asked you not stay out of these discussions and there is a reason for it.

You can't have it both ways, Luke. You can't speak to me and ask me not to reply.

So, you know what backing and laying is, but you didn't know you need to back high and lay low?

[JustLukeYou]

So I want thank everyone who has explained what expected value and also how SoccerMystic is and what it shows. But I still don't understand how SoccerMystic is used. Does it work like this?

You set a target of a 30% profit margin and SoccerMystic tells how you can get to that point based on the number of goals that are scored. SoccerMystic also identifies how many goals the market thinks will be scored. If you think the number of goals is different you can use to identify value.

Is that how it works or am I 100% wrong?

[JustLukeYou]

Why wait 90 minutes to make a profit when it can be done in 4! Did anyone else back over 1.5 goals in the Midtylland game tonight?

But on that I read an interview with Psychoff where he says he sometimes does 1,000 trades a day. How the hell is doing that. I thought I he was placing single large stakes based on what is happening in a game.

[Derek27]

Derek27, if you said "You want to back odds that are higher then what they should be or lay odds that are lower than they should be that would be actionable"

People ACT on ACTIONS.

If you needed the above explained to you you're going to really struggle to understand what Soccer Mystic is used for - perhaps you should, as I keep saying, focus on the basics and gain some trading experience before analysing every advanced tool in detail.

Dallas explained Soccer Mystic in great detail and how it can be used.

[JustLukeYou]

Derek27, if you said "You want to back odds that are higher then what they should be or lay odds that are lower than they should be that would be actionable"

People ACT on ACTIONS.

If you needed the above explained to you you're going to really struggle to understand what Soccer Mystic is used for - perhaps you should, as I keep saying, focus on the basics and gain some trading experience before analysing every advanced tool in detail.

Dallas explained Soccer Mystic in great detail and how it can be used.

Yes Dallas did a great job of explaining it but I still don't understand how it is used. If I know the future odds how does that help me, do I set a target and then trade out when I hit that target? The thing that concerns me about is that you might set a target based on greed instead taking the time to identify whether goals will scored or not.

I noticed that Pschoff is launching a course soon, does anyone know if he used SoccerMystic or something similar?

[greenmark]

Definitely the most tedious thread since I joined this forum. A relentless poster asking essentially the same question over and over again. I think ignore is the only option here.

[JustLukeYou]

Definitely the most tedious thread since I joined this forum. A relentless poster asking essentially the same question over and over again. I think ignore is the only option here.

Feel free to create a thread that people will get some use from then. No one stopping you.

[Derek27]

Derek27, if you said "You want to back odds that are higher then what they should be or lay odds that are lower than they should be that would be actionable"

People ACT on ACTIONS.

If you needed the above explained to you you're going to really struggle to understand what Soccer Mystic is used for - perhaps you should, as I keep saying, focus on the basics and gain some trading experience before analysing every advanced tool in detail.

Dallas explained Soccer Mystic in great detail and how it can be used.

Yes Dallas did a great job of explaining it but I still don't understand how it is used. If I know the future odds how does that help me, do I set a target and then trade out when I hit that target? The thing that concerns me about is that you might set a target based on greed instead taking the time to identify whether goals will scored or not.

I noticed that Pschoff is launching a course soon, does anyone know if he used SoccerMystic or something similar?

Firstly, Soccer Mystic isn't about setting 'targets'.

Secondly, if you ever set a target based on greed, the fault lies firmly with you, not the tool you're using to set targets. You really need to understand that instead of blaming your tools.

How carefully did you read Dallas's post? Most people who struggle to understand something read slow and carefully, line by line. I have a feeling you speed up and skim because you know you're not going to understand it, and then you hope somebody else will explain it to you.

If you don't understand what Dallas has written why do you think you'll understand it from anybody else?

The answer to your question can be found under the heading So what information can be used from this?.

READ IT CAREFULLY, one step at time, or better still, re-read the whole post.

[JustLukeYou]

If you needed the above explained to you you're going to really struggle to understand what Soccer Mystic is used for - perhaps you should, as I keep saying, focus on the basics and gain some trading experience before analysing every advanced tool in detail.

Dallas explained Soccer Mystic in great detail and how it can be used.

Yes Dallas did a great job of explaining it but I still don't understand how it is used. If I know the future odds how does that help me, do I set a target and then trade out when I hit that target? The thing that concerns me about is that you might set a target based on greed instead taking the time to identify whether goals will scored or not.

I noticed that Pschoff is launching a course soon, does anyone know if he used SoccerMystic or something similar?

Firstly, Soccer Mystic isn't about setting 'targets'.

Secondly, if you ever set a target based on greed, the fault lies firmly with you, not the tool you're using to set targets. You really need to understand that instead of blaming your tools.

How carefully did you read Dallas's post? Most people who struggle to understand something read slow and carefully, line by line. I have a feeling you speed up and skim because you know you're not going to understand it, and then you hope somebody else will explain it to you.

If you don't understand what Dallas has written why do you think you'll understand it from anybody else?

The answer to your question can be found under the heading So what information can be used from this?.

READ IT CAREFULLY, one step at time, or better still, re-read the whole post.

Okay, so when I read it the first 3 options are completely hypothetical and goes against what Paulo Rebelo and Psychoff do. They watch the match and place trades based on what is happening. Using this live whilst watching a football doesn't seem practical. You could place trades which reduce your profit because you are guessing. For example, you are guessing Russia will score instead of watching the match and seeing England are all over Russia like a rash. Do people use during live matches?

[Derek27]

You don't understand it Luke. It's not guessing, it's analysing what the position would be under various situations. It's like playing a game of chess, you're not guessing what move your opponent will play, you're looking at what possible moves he can play and what your options are. It's fool-hardy opening a trade without considering what you're position will be if a goal's scored, and how your position will move if a goal isn't.