Hi there! Just trying out betangel and trading on betfair, tried many horse races today and greyhounds in practice mode, just before the off there so many gaps on the ladder, especially with greyhounds, i achived $5 to $45 with scalping on every race i tried and made over 150 green, but sure it is a practise mode, i used 150 100 and 50 dollars stakes, here is the screenshot of two trades in example:
https://gyazo.com/edea9298495408a99a4b5e38ac56b634
https://gyazo.com/aa7270dc664e93baf59bee370e2df0c0
My question to you guys is real mode is way different or it's actually almost the same? And those results is achiveble with scalping penny after penny? Thanks.
Is this for real will be in real?
Practice mode is best used only to familize yourself with using the BA with the placing and closing of bets etc and for setting up automation rules - You should never take your practice results and expect to replicate them in real mode especially if your new to trading, practice is very accurate to a certain point except for the reasons below.
1) You will always trade differently when there is real money at stake
2) The markets will behave slightly differently especially the illiquid ones like grey hounds, with the stake sizes you where using this will of produced different results in real mode as the markets would of reacted to them.
Eg, you place £100 back bet at 4.2 (this is only visible to you) waiting at 4.3 is £4 of someones real money someone else then places a lay of £10 at 4.3 taking that £4 and leaving £6 on the lay side - now in practice mode this will show as your full £100 has been matched in reality bets you would of got was £10 matched thats if someone else did nt jump in front of you. if you did get it all matched you then still need to be able to get it out to complete the trade and that is nt always possible if there is nt £100 on the oppisite side of the book.
Beacuse horse racing markets are much more liquid using the size stakes you where wont of had much if any effect/influence on the REAL market especially in the final 5mins so the market would of behaved identical but how your psycology copes when its real money is a different matter.
Once you have learnt how to place your trades and use the ladders/grids try trading real money using £15, £10 & £5 stakes then multpily your days profits or losses by 10 that will give you a idea of where your at.
If you can get to xmas and only have a reletivly small loss/break even your of to a very good start.
1) You will always trade differently when there is real money at stake
2) The markets will behave slightly differently especially the illiquid ones like grey hounds, with the stake sizes you where using this will of produced different results in real mode as the markets would of reacted to them.
Eg, you place £100 back bet at 4.2 (this is only visible to you) waiting at 4.3 is £4 of someones real money someone else then places a lay of £10 at 4.3 taking that £4 and leaving £6 on the lay side - now in practice mode this will show as your full £100 has been matched in reality bets you would of got was £10 matched thats if someone else did nt jump in front of you. if you did get it all matched you then still need to be able to get it out to complete the trade and that is nt always possible if there is nt £100 on the oppisite side of the book.
Beacuse horse racing markets are much more liquid using the size stakes you where wont of had much if any effect/influence on the REAL market especially in the final 5mins so the market would of behaved identical but how your psycology copes when its real money is a different matter.
Once you have learnt how to place your trades and use the ladders/grids try trading real money using £15, £10 & £5 stakes then multpily your days profits or losses by 10 that will give you a idea of where your at.
If you can get to xmas and only have a reletivly small loss/break even your of to a very good start.
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Rampant777
- Posts: 3
- Joined: Thu Sep 10, 2015 7:28 pm
Ok i tried the smalles bets in real mode today and dont know is it good or is it bad? $2 stakes i used:
https://gyazo.com/1974248f8b6a18a5134064c36924446d
https://gyazo.com/1974248f8b6a18a5134064c36924446d
In terms of your percentage terms its excellent you made nearly 50% based on your staking size but if you want to make a serious go of trading you need to put profits and returns etc out of your mind for the moment and concentrate on just learning to understand how the markets work whilst protecting your bank and minimizing any losses all the time increasing your stakes as it builds, trading has a long learning curve and a few good weeks does not mean you ve cracked it, IMO the more you win in the first few weeks makes it harder in the long run as that inevitable loss will hurt and effect you even more when it comes and could knock you back several weeks.
You need to of traded 1000s of hours and markets and experienced and coped with both wins and losses as well as many other things trading throws at you before you can settle into a steady routine
I do wish you good luck to you and i always say anyone can trade profitably providing they understand this is not a way to get rich quick, there never going to be a instant success, they must be willing to learn from mistakes, put in the long hard hours and have plenty of patience and determination - missing any of the above will lead to failure at some point.
You need to of traded 1000s of hours and markets and experienced and coped with both wins and losses as well as many other things trading throws at you before you can settle into a steady routine
I do wish you good luck to you and i always say anyone can trade profitably providing they understand this is not a way to get rich quick, there never going to be a instant success, they must be willing to learn from mistakes, put in the long hard hours and have plenty of patience and determination - missing any of the above will lead to failure at some point.
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Rampant777
- Posts: 3
- Joined: Thu Sep 10, 2015 7:28 pm
Thank you! Well i do play poker for a living, playing over million hands a year, but i want to learn this trading thing, so i guess it will take a lot of time, but will it worth to spend learning thats a question..