Many thanks for leaving that. I think it's an essential point that you make, so I'll make this a sticky post. That last paragraph you made there, is successful trading in a nutshell.

Glad you enjoy it!

I often say this also, that the biggest battle is with yourself. It catches so many people out.

Very welcome

Glad it was helpful!

Glad it was helpful!

Thank you

👍

You are very welcome

Many thanks for your comment

Your comment is like a breath of fresh air; thank you. That's precisely what I'm talking about. There are many ways to achieve that in this market, either through a strategy-based approach, market selection or clever execution. So plenty of things to explore.

Exactly, you have to first accept that you cant/won’t get it right all the time You execute based on a series of events that you are looking for & attempt to outweigh the losses

So many people just don't get that, yet it's core to the fundamentals of trading.

It took me ages to work out that volatility is your friend and not your enemy when trading. But a lot of people never fully understand that.

Y, the overround is almost non-existant on exchanges, so you get some meaty prices. Often you will see something hundreds on the exchange and only 66/1 on course. That's about the biggest price they will offer unless it really has no chance at all. I pick up the odd 1000 each year with a backing strategy.

There are a few suggestions on the forum that may interest you, but you can also do this through automation now as well - forum.betangel.com/viewforum.php?f=60

Surely if you take a risk and you hope something might happen then that feels to me like a gamble that I hope works out then I won't be happy when it goes the wrong way. I gamble the wrong way 40,000 times and I'm bankrupt. I get anxious trying to guess what might happen 😅.

I sometimes think of dying it green so I don't have to fiddle with the chroma key.

Never really looked at that, but will make a note.

I trade manually and automatically, so a good chunk of markets are automated now, so that's a significant contribution. There is an element of double counting as well, to be honest. If trade a market manually but have some automation running, that would be two markets on my Betfair statement.

Prices will be pretty volatile in this area, so some of the suitability will be linked to your trading style. If you are looking for markets that move quite a bit, then this is where you will find that movement.

I didn't believe this when I started trading but by disaster on financial markets taught me a lot about why this is the case. So I had a leg up when I started trading on Betfair, and I eventually figured out just how it was important a few years into my journey. So much so, that I changed the way I traded.

Like a casino ward said. If the people didn't want so much they would walk out from this doors with some money in their pockets. That is true the hardest skill to master is the mindset

Positive people find opportunities and negative people, problems. It's really easy to come up with a list of why something doesn't work, but that's not your objective when trading. When it comes to trading, you are constantly on the hunt for opportunities.

Similar to Bollinger bands, they measure the volatility by looking at the standard deviation. It's an excellent way to determine if the price is about to break out. You will find them called 'price envelope' in the advanced chart settings.

Was this a back or lay bet?

@@betangeltv it was a back bet. It just didn't get matched. I went on betfair helpdesk and they told me that in low liquidity events sometimes the money will lapse and not get matched? How is this possible? As I understood it, the ratio between back money and lay money in the SP bets, dictates the price that the bets get matched at... kind of like pool betting. So all the money is matched? But now I'm thinking it doesn't work like that. I'm starting to think the SP is dictated by the price of the animal at the moment the event turns in play, then all the 'lay' money at betfair sp is sort of offset against the back money at that price, then if there is a surplus of back bets and not enough lay bets, the back bets just lapse and don't get matched? Is that the case? I want to understand how the betfair sp technically works because I've been working on a system that uses betfair sp primarily but this one hit me hard as it was a 5/1 winner and I only got like 20% of my stake matched. Very frustrating. Thanks for any input or clarification.

Some of SP if formed from the money left outstanding at the point of resolution. So perhaps it was a very gappy market. I can't say I've experienced this before.

@@betangeltv That surprises me because it happened twice more yesterday. Seems to be happening to me daily. One saved me money, one again cost me. One was on a 4/1 where just over half my bet got resolved at SP (£5.62 out of £10) and the other was a 7/1 that got only pennies matched of my £10 SP stake but thankfully that one lost. So yeah I'm suspecting you haven't experienced it because you're not doing very low liquidity markets at BF SP.

You can do either. I think it's just easier for people to get the concept of 100,000 markets. You can do quite low-risk trades 100,000 times by waiting or an opportunity. But multiple trades in one market are related somewhat.

ok, i see the issue in my logic there. You are right the multiple trade in one market is related specially in my live football trading example. I think I start to understand you point of 100,000 markets. Thanks for clarify this for me ❤

It may never kick in as you have three hurdles to jump over, winning amount, winning rate and commission paid. But the upper rate if you hit all three criteria would be £250k, so two years. But it would almost never be that.

I've also told you how to do it in a vast range of videos talking in great depth about individual sports, strategies and tactics.

So if you had an edge or a strategy that was profitable what would happen if you told people how it worked exactly? If the strategy made £5k profits in a year how much would you sell it for? Peter has given you starting points & roads to go down & try, unfortunately we have to think for ourselves & see if we can uncover an edge through trial & error. There are many videos that explain where to start / how to start. Once you spend time in the market you WILL begin to uncover things I honest though I would never do the above & that I just wanted someone to tell me how to make money from Betfair

I often feel I've overshared on certain things TBH.

Sorry, it hasn't worked for you, but I think most people know where I'm coming from. I won't get any revenue for this video, and I'd be surprised if I pick up any subscribers on KZfaq or Bet Angel. I'm fortunate to be able to say what I think without being clouded by any interests. So I will talk about what has worked for me very successfully over a long period of time. Take it or leave it. The gold rush, as you put it, was for the margin available on the exchange. Effectively it was a revenue share of the losing side of the equation with Betfair. Betfair has made a lot of money, and people trading on Betfair have made a lot of money. The picks and shovels analogy fails miserably when you apply it to specific scenarios. In this case, virtually none of the software vendors made any 'real' money. Especially if you fully cost development costs. That's why Betfair did the APi rather than doing it themselves. Everybody thought the gold rush would be to provide the picks and shovels, and so many people rushed in there to provide them that there was a massive surplus of shovels. In aggregate, I know that Bet Angel users have made more than Bet Angel as a company has turned over. If you look at my P&L from the Melbourne Cup meeting, you must be able to see why this is the case. My profit from just that week was the equivalent of 46 years of Bet Angel subscriptions. Just one person amongst many of our customers to make money that week. Of course, not everybody will make money. Still, trading as I regularly describe has presented the best opportunity for people to make something from their interest in sports for the first time ever. As somebody that actually had the balls to put their own money into it to prove a point. I'm tired now of trying to argue the point. You either get it or you don't, which is why I did this blog post: - www.betfairtradingblog.com/what-im-giving-up-this-year/

I've put in, and lost, THOUSANDS, over many YEARS, including subscribing to your excellent software. The fact that you say you make very little out of subscriptions after all these years suggests that few subscribers stick around for very long and there is but one reason for that. What is the average life of a Bet Angel subscription?

I can tell you had a negative experience from your original post. As I pointed out, longevity or subscribers is not an issue for Bet Angel as a business. It's just that the market determines we can't charge much for it and that the amount people make using it far exceeds the cost of the software. I've seen the numbers from Betfair, it's a fact. This is just the classic circular pointless argument that I've gone through a thousands times. I'm really bored of doing this. You either see the opportunity or you don't. I realise you have had a negative experience, I had to go through the same gut wrenching experience when I tried to trade financials all those years ago. I couldn't do, lost money and therefore thought it was impossible. It took me some time to see the light. I realise it's difficult if you tried and failed. But maybe take a break and revisit it and you'll understand what I am trying to say.