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- เผยแพร่เมื่อ 10 ก.ย. 2024
- When I started trading on Betfair I had to work from base zero.
I wasn't profitable, I had no Betfair trading strategies, no Betfair trading software and knew nothing about horse racing, how to trade a racing market or what I was doing basically. I had to work it all out for myself.
However, any potential trader needs to more or less go through the same process. Working from a base to work from what is an essentially random start point, to something that has some substance which you can then build on.
Over the near two decades in the market, I've managed to move from an essentially random strategy to making small incremental improvements to end up on the very far right of the bell curve. Though my initial step was just to avoid making mistakes and cutting losses.
Essentially there is nothing stopping anybody from doing the same and moving in the right direction on the bell curve.
This Man is honest i been gambling 50 yrs and he is right in what he says he know's what he's talking about.
Fascinating to see. Thanks for this video Peter.
I'm glad you found it fascinating!
I have dipped in and out of Bet Angel for the last few years, trying to work out how to achieve a profit. This time I am determined to stick with it and this is quite a clear explanation of what needs to done to avoid the pitfalls and focus on not losing money. Thank you Peter.
Glad it was helpful.
Whenever I know someone who wants to start the journey of Betfair trading, I always point them to this video. Peter, you have perfectly illustrated the conceptual path newbies will follow to become profitable. It’s a huge milestone for newbies to transition into the green side of your bell curve.
Many thanks, it's good to know it's helping.
Hi Peter, I know this is an old video, but I have some downtime so I'm going back to keep learning and learning , once again brilliant
Thank you for revisiting and your kind words, it means a lot!
I'd encourage anybody who is actively trading the market to record their screen and watch it back to see where the good and bad points occurred. There are plenty of free screen recording on the net. You will be surprised at what you learn from 're watching your days trading.
when i hear word free i know already its rubbish
@@gonewiththedrugs Zooms free
@@gonewiththedrugs Not always! Windows is 'free' and without it, we wouldn't even be exchanging views! ;-)
Timing of watching this video is just about right for me. I yesterday lost big chasing a loss AGAIN. Even though I absolutely know its not right hoping for the luck that doesn't exist.
Well done on recognising it and intervening.
I can see it MR Webb! Cheers!
Another excellent video, well worth watching when you're having a bad time and when you're having a good time to keep your mental balance. Anybody else do a second take at the audio around 2m30s when the "I wonder if I can illustrate this" sounds awfully like "I wonder f***king illustrate this? LOL
I am a pheasant plucker
can this be done with the new versions of BetAngel asa you show half way throughrou the video of making yh gbp5 settingh tick value the version ofBAAba this not available option? Thanks
Great video man...always giving useful lessons, tips and strategies
Roughly how many traders are there in the top 5%?
What if you cannot find the reasons why a trade has gone badly wrong?
Keep trading notes and you will start to see a pattern.
ANOTHER piece of technology eh, Peter? I know you love gadgets and gizmos - and I know that some of my losses over the past couple of years or so have helped fund them for you! LOL
Seriously though, another great video - many thanks for taking the time to make them.
I particularly liked the bit about systems. I really can't understand why people buy them! As you said, if you have a sure-fire winner, then you ain't gonna sell it to everyone for a few quid.......That said, I have attended one of your courses in the past but the difference I found with that, was that you didn't profess to be telling us EXACTLY what to do, rather how to go about finding our own strategies etc.
All the best - and keep on keeping on! :-)
I seem to recall that a couple of years ago, Betfair stated that 25% of their customers had a made a profit the previous year. Allowing for a chunk dragged over the line by commission, that leaves quite a lot of people who would be better off if they just threw darts at the selection sheet.
I'd estimate that over a year probably 20-25% of people are profitable. Though I'd have to dig through my research to see if that was before or after commission. When I get back to the office I'll have a look for you.
@@betangeltv how could you possibly have that data? How do you know what percentage of betfair users are profitable before or after commission?
I learnt to scuttlebutt through my investing career. I reckon that figure is after commission.
hello sir Peter, please when should i get into the markets
since markets is not predictable?
If you are trying to cut losses by introducing a stop loss, is that classed as "Modifying" your behaviour, something which you say you shouldn't do, when trying to become profitable. I'm managing to find lots of, what I'm interpreting as contradictions, in you're videos Peter. They may not be but it's confusing the hell out of me.
I think you are over thinking things to be honest. I have to summarise advice which I realise can't cover everything, but you have take everything in context.
My question is you said you 'strike out' the losses. But how did you do that? How do you go about identifying where you went wrong, or building 'strategies'? How do you analyze your losses? Did you record every random trade you did? Then rewatch it? I just don't know where to start with trying to work out 'successful strategies'. Like, strategies in relation to what? The price movement? Certain race conditions? Patterns you notice the market doing? Surely a lot of it will just become intuition if you trade the markets enough? Thanks for your reply.
I'd imagine one would be if he let pre-race bets turn in-play, and those bets showed a loss, he would just ensure he always traded out before going in-play. Letting trades go in-running has been my downfall in the past.
Thank you Peter
Quality, as usual.
So what happens if you "Chase your Profits"?
Cut your losses and let your profits run.
@@betangeltv is this possible to automate?
What are the types of markets do you eliminate from you're trading?
Losing ones, but you will only know what patterns appear when you document them. This will be slightly different for everybody.
Okay, how do I get Bet Angel to trade at random? Do you have a random automation file on your forum? I'm willing to start from point zero.
Does I know screen recording software is fairly easy to get hold of, but does BetAngel have this included as a tool? If not it would be pretty cool if it could be incorporated. I regard BetAngel the iPhone of the trading software market. GeeksToy the Samsung with too many hanging Christmas trees.
Darren, I use Active Presenter, it’s free & a doddle to use.
Nice guy 👍
So..anyone... where can you get some good information on successful trading strategy?
There are loads on this channel.
@@betangeltv Thanks for the reply. I've watched a few dozen of your videos. So far. though, those must have escaped me. They are helpful in other ways, of course and so I do enjoy them.
Maestro Peter, if possible at all, could you please make a video about the methodology how to calculate the risk of the individual trade. In my understanding the ROI (% from turnover) and risk are key KPI's of trading. Warm greetings from Russia.
Didnt know Betfair was available in Russia...
@@temp911Luke VPN ;)
Arent "systems" and "strategies" the same thing ?
Strategies are general approaches to the market, tactics a way to do them. I define systems as just a broad level process that can be easily replicated but is generally not effective.
6-55: I'm an expert at that! LOL
I don't know how you put up with all the naysayers. On the one hand I respect scepticism, it's a good default position that stops you falling for the nonsense broadcast from every industry to sell their wares. But the point of scepticism is that it should pivot on evidence and logic not prejudice.
It's heading for Christmas where for certain relatives the disreputable subject of my 'gambling' is utter taboo and and if broken will be countered with looks of pitying contempt. A few years ago I was at a Christmas bash for a well known city firm. Some overpaid snooty snot of a fund manager making small talk enquired ''and what do you trade?'' I couldn't resist it. I said ''Footie and geegees mostly'' He looked down his nose so hard that I fear he is now permanently cross eyed.That may not help him beat his benchmarks.
Bet Angel won't generate you profit if you use it without the knowledge of the market.
You can't make a cake without the right ingredients and an oven.
I'm the .1% you talk about .. I can teach you a few things
I know most people above me so I'm not convinced by that.