Out of all of your fantastic videos that I have watch Peter. This is by far the most valuable to me personally by far. Thank you please keep them coming.
Peter you may be a better teacher than trader, I mean that in a good way. The level of eloquence in this video is spot on, it's exactly what people need since there are so many that struggle with the core fundamentals. If you keep upping the quality of these videos it's only a matter of time before the channel snowballs and TH-cam sends you that 1mil subs plaque. Wouldn't that be something, if you could pull that off perhaps Betfair would renegotiate your PC rates or even abolish them.
Hi Peter, not long now, until July 4th, when my self-imposed, 12 month 'break' from Betfair ends! I'm so excited, that I've had to start putting plastic sheeting on the floor around my desk/chair, just in case! LOL Seriously though, I've been watching your video's every evening for some weeks now, trying to get into the correct mindset for my return to trading in July - and I have to say, your videos have helped me no end by making me constantly aware of the crucial differences between gambling - and real trading! In the past, I did all the 'wrong' things: I went in play - often on outsiders - (hoping for a turnaround more often than not!) I chased my losses - being mortified if I finished a trading session 'down' rather than up! I tried to 'run' before learning to 'walk!' Well hopefully, all that is now behind me! I now realise that - just as I spent umpteen years learning how to be a good vehicle mechanic - so must I spend a similar amount of time, learning to become a profitable trader. The only problem I foresee though, is at 64 years of age, I don't have the same amount of 'learning time' available! ;-) In closing; great video, great advice. Hopefully, you'll find me a much harder 'mark' the next time around! LOL
Another deeply valuable and generous insight Peter, thank you again. I have become acutely aware of the impact of those out-of-balance losses and the negative psychological impact they can have. I am also aware that having information with regard to possible market influences, is very useful. Otherwise it becomes pure speculation. Aside form this, enthusiasm and desire to be involved in trading is hugely important, without which there is little value in pursuing it at all. As a true novice, I am exploring all these avenues and am grateful for these hugely impactful pointers.
I took your comments on board and adjusted one of my strategies so my strike rate is reduced, but when it works I am now seeing green books of £7.50, £11 and my best yet is £28.00, whereas previously my regular green books were only 50 pence to a £1 range. Thanks.
Hurray at last, after trading Friday through to Sunday I have made a decent ROI everyday, only using a 20 pound liabilty but I have more than doubled that amount and none went into play, I was using betfair graphs, trading ranges and only entering when the odds were in my favour, I do have racing knowledge and was more than chuffed when on two occasions I identified horses that I thought would drop in price from 9/1 into 6.4 when i got out. I have to say a lot of this is down to your videos and inparticular trusting your own judgment when the price goes agaisnt you , for sure i had a few losses but on the whole I feel a lot more confident, btw I did this on bet angel basic Im sure I would have done even better on the ladder .
At cross over points if you have a 50 50 win loss percentage you should come out on top, however what always screws my day up is the big money entering the market and bang suddenly youre ten ticks out and lose all your days profits, this happens daily but i have noticed not at weekends as much, not easy at all.
Good Video Peter, appriciated. I think discipline and Risk Management is 80% of trading. I constantly lose discipline and let my trades go In Running. As you said in the video, it doesn't work like that. I have now switched off Racing UK & ATR and never watch the Racing live. It's the only way forward for me. I'd actually like to watch you trade a strategy that you don't use much as an example, even in terms of stake, Entry - Risk - Exit.
Margins get tighter over time, but no strategy has really completely failed. Some strategies have faded only to return a few years later. The market is a strange thing!
Great Video. Coming from a Forex background, this makes perfect sense. By the way, could you share some pointers on how I can build my own historical data from Betfair. Thanks.
Yes, I enjoy Peter's videos, but sadly when i have a genuine need to find out something I am stuck with the same old problem we all have in this modern world ...no direct contact !!!!. It may make sense to business owners, but drives me as the purchaser of goods- wild with frustration !!!.
Your right my whole concept of trading was wrong as you say trading is very different to gambling. I made a mistake having a gambling mentality. The only way to make money long term is to keep to what you say in this video, if i had done that i would be ok. Its called dicipline and what your saying all them little profits add up over time and they will eventually they will out weigh the Losing trades. I think this video is one of the best videos you've made thanks Peter i will be back, next time i will do it your way.
So if the average profit is £0.27 and assume you trade 10,000 markets a year then your strategy would trigger about 9.2 times per market to achieve a £25k profit
Hi Peter, just an idea regarding the betangel software, was wondering if you have ever considered linking course delay information to the trading screen?
What process do you go through to reduce your losses?, as if you try to reduce your losses its very possible to reduce your profit at the same time, and if you may find when you try to cut your losses the price will reverse and come back to profit.
You can reduce losses by getting a good entry point, but I don't try to limit losses by doing anything unusual or odd. I just manage out my position if I get it wrong. I just try to get out carefully and at a good average price. There isn't really any concept of an exit stratey. I just sort of say, 'OK I messed that up, lets get rid of the position' Then move onto the next event. I quickly forget losses, else they influence your next trade.
A generic strategy is the hardest to find. So excluding markets or targeting certain things is a way to achieve the same sort of thing. But I tend to vary strategy on each market type.
Great video, struggling with the risk factor scalping. Absolutely fine in practice mode but can’t seem to transfer it over in live mode. Practice practice practice I guess?
practice doesnt make perfect.....................good practice makes perfect. This was taught to me by an England International squash player and it's always stuck with me
It's a very common issue, because emotions only start coming into play when you start trading with real money, and when you switch over from training into live you don't yet have the mental skills nor the confidence to manage your positions and your risk properly. In other words, to conquer the markets you need to first conquer your own head, that's where the real battle is most of the time.
Hi Peter, enjoyed this but seems to slightly contradict your high probabilty vs high profitability video. Risking 1k to win 10 quid might make sense with some strategies but surely not with high profitability trading?
It's always difficult to get abroad message across in a short period of time but it is possible to make money at either end of all scales if your approach to managing risk is correct. I'm not sure I've explained but I'm saying that but hope that you understand what it means your understanding forward a little.
@@betangeltv Completely understand and agree, you are covering quite alot in your videos. Thanks a bunch. The nuggets of wisdom are there for those who are determined to succeed
Out of all of your fantastic videos that I have watch Peter. This is by far the most valuable to me personally by far. Thank you please keep them coming.
Peter you may be a better teacher than trader, I mean that in a good way. The level of eloquence in this video is spot on, it's exactly what people need since there are so many that struggle with the core fundamentals. If you keep upping the quality of these videos it's only a matter of time before the channel snowballs and TH-cam sends you that 1mil subs plaque. Wouldn't that be something, if you could pull that off perhaps Betfair would renegotiate your PC rates or even abolish them.
I have a feeling he's an even better trader (considering how good he is at teaching, he's probably the damn best trader you'll find on Betfair :D )
Just making the transition from matched betting to trading (with the help of Betangel), so found this really helpful. Thank you Peter
can you share your experiences so far?
and are you losing, like 99% of people?!))))
Hi Peter, not long now, until July 4th, when my self-imposed, 12 month 'break' from Betfair ends! I'm so excited, that I've had to start putting plastic sheeting on the floor around my desk/chair, just in case! LOL
Seriously though, I've been watching your video's every evening for some weeks now, trying to get into the correct mindset for my return to trading in July - and I have to say, your videos have helped me no end by making me constantly aware of the crucial differences between gambling - and real trading!
In the past, I did all the 'wrong' things: I went in play - often on outsiders - (hoping for a turnaround more often than not!) I chased my losses - being mortified if I finished a trading session 'down' rather than up! I tried to 'run' before learning to 'walk!'
Well hopefully, all that is now behind me! I now realise that - just as I spent umpteen years learning how to be a good vehicle mechanic - so must I spend a similar amount of time, learning to become a profitable trader. The only problem I foresee though, is at 64 years of age, I don't have the same amount of 'learning time' available! ;-)
In closing; great video, great advice. Hopefully, you'll find me a much harder 'mark' the next time around! LOL
Another deeply valuable and generous insight Peter, thank you again. I have become acutely aware of the impact of those out-of-balance losses and the negative psychological impact they can have. I am also aware that having information with regard to possible market influences, is very useful. Otherwise it becomes pure speculation. Aside form this, enthusiasm and desire to be involved in trading is hugely important, without which there is little value in pursuing it at all. As a true novice, I am exploring all these avenues and am grateful for these hugely impactful pointers.
This video needs to be watched by everyone who starts trading.
I'm glad that people understand that. It's essential if you are going to trade profitably.
I took your comments on board and adjusted one of my strategies so my strike rate is reduced, but when it works I am now seeing green books of £7.50, £11 and my best yet is £28.00, whereas previously my regular green books were only 50 pence to a £1 range. Thanks.
Hurray at last, after trading Friday through to Sunday I have made a decent ROI everyday, only using a 20 pound liabilty but I have more than doubled that amount and none went into play, I was using betfair graphs, trading ranges and only entering when the odds were in my favour, I do have racing knowledge and was more than chuffed when on two occasions I identified horses that I thought would drop in price from 9/1 into 6.4 when i got out. I have to say a lot of this is down to your videos and inparticular trusting your own judgment when the price goes agaisnt you , for sure i had a few losses but on the whole I feel a lot more confident, btw I did this on bet angel basic Im sure I would have done even better on the ladder .
Great content for a convert to trading.
Great Clarity. You are the man.
I appreciate that!
great video Peter I've watched it a few times now, and it's slowly sinking in :)
That's good. It is key to everything you will do in the market.
Best video so far Peter Thanks, More like this, please.....
Three aspects for all investing and trading: Risk to Reward ratio, Money Management and Probability of Profit.
Note to self. Re-watch this video every week.
At cross over points if you have a 50 50 win loss percentage you should come out on top, however what always screws my day up is the big money entering the market and bang suddenly youre ten ticks out and lose all your days profits, this happens daily but i have noticed not at weekends as much, not easy at all.
Peter, you are the best.
Thank you Peter for this GREAT video 👍
Many thanks for your comment
your best video to date!
Great video. Thanks 🙏
Glad you liked it!
Good Video Peter, appriciated. I think discipline and Risk Management is 80% of trading. I constantly lose discipline and let my trades go In Running. As you said in the video, it doesn't work like that. I have now switched off Racing UK & ATR and never watch the Racing live. It's the only way forward for me. I'd actually like to watch you trade a strategy that you don't use much as an example, even in terms of stake, Entry - Risk - Exit.
Would love to hear more on your staking approach! Thanks Mate!!!
superb video pete ...... makes perfect sense
Hi Peter, could you do a video going into more depth as to how you go about tweaking your strategy to move into profitability?
Sure, it's generally just trying to nudge myself off randomness. Do slightly better than average and so on.
Have any of your strategies lost their edge? And if so could you do a video on it exposing your thought patterns behind the strategy.
Margins get tighter over time, but no strategy has really completely failed.
Some strategies have faded only to return a few years later.
The market is a strange thing!
Great Video.
Coming from a Forex background, this makes perfect sense.
By the way, could you share some pointers on how I can build my own historical data from Betfair.
Thanks.
There are some examples on the forum. The automation in Bet Angel can gather data or there are some spreadsheet examples.
Yes, I enjoy Peter's videos, but sadly when i have a genuine need to find out something I am stuck with the same old problem we all have in this modern world ...no direct contact !!!!. It may make sense to business owners, but drives me as the purchaser of goods- wild with frustration !!!.
Gordon, visit the BA Forum.. loads of helpful people on there, what are you stuck on?
these videos explain a lot. thank you.
Another great video, thank you
really intresting ! thanks for posting ,
Given up trading for a while i was losing too much. Good luck to those people that make it pay. I will try again next year
Judging from your previous comments this video should help a lot. You didn't seem to have your risk management correct.
Your right my whole concept of trading was wrong as you say trading is very different to gambling. I made a mistake having a gambling mentality. The only way to make money long term is to keep to what you say in this video, if i had done that i would be ok. Its called dicipline and what your saying all them little profits add up over time and they will eventually they will out weigh the Losing trades. I think this video is one of the best videos you've made thanks Peter i will be back, next time i will do it your way.
Very good video!!! Thanks for sharing so much gold nuggets on TH-cam, off to your website me thinks..
So if the average profit is £0.27 and assume you trade 10,000 markets a year then your strategy would trigger about 9.2 times per market to achieve a £25k profit
For this strategy did you try to increase your strike rate or did you try to reduce your losses, or did you do both?
I try and do both.
Hi Peter, just an idea regarding the betangel software, was wondering if you have ever considered linking course delay information to the trading screen?
There is no easy way to do this, so it's not high up the list.
should you fix your target? I always thought you should fix your stop and let the profits run is that wrong?
You need both in proportion in reality.
What process do you go through to reduce your losses?, as if you try to reduce your losses its very possible to reduce your profit at the same time, and if you may find when you try to cut your losses the price will reverse and come back to profit.
You can reduce losses by getting a good entry point, but I don't try to limit losses by doing anything unusual or odd. I just manage out my position if I get it wrong. I just try to get out carefully and at a good average price. There isn't really any concept of an exit stratey.
I just sort of say, 'OK I messed that up, lets get rid of the position' Then move onto the next event. I quickly forget losses, else they influence your next trade.
how come you dont ever say anything about ladbrookes trading platform because i would thought be barrow loads of money in there markets
It just backs onto Betdaq so I use Betdaq instead.
Does anyone know how to calculate the 'Required Strike Rate' given the average win and average loss per trade?
You say for each market there is a strategy but this shows you are using one strategy in every market? Can you explain?
A generic strategy is the hardest to find. So excluding markets or targeting certain things is a way to achieve the same sort of thing. But I tend to vary strategy on each market type.
Was this an automated strategy?
I can't remember, but the curve would be similar.
Great video, struggling with the risk factor scalping. Absolutely fine in practice mode but can’t seem to transfer it over in live mode. Practice practice practice I guess?
practice doesnt make perfect.....................good practice makes perfect. This was taught to me by an England International squash player and it's always stuck with me
What size stakes are you using mate? Also how many horses at once are you trying to scalp?
It's a very common issue, because emotions only start coming into play when you start trading with real money, and when you switch over from training into live you don't yet have the mental skills nor the confidence to manage your positions and your risk properly. In other words, to conquer the markets you need to first conquer your own head, that's where the real battle is most of the time.
Hi Peter, enjoyed this but seems to slightly contradict your high probabilty vs high profitability video. Risking 1k to win 10 quid might make sense with some strategies but surely not with high profitability trading?
It's always difficult to get abroad message across in a short period of time but it is possible to make money at either end of all scales if your approach to managing risk is correct. I'm not sure I've explained but I'm saying that but hope that you understand what it means your understanding forward a little.
@@betangeltv Completely understand and agree, you are covering quite alot in your videos. Thanks a bunch. The nuggets of wisdom are there for those who are determined to succeed
Your head is blocking the horse race screen.
Man I wish Betfair was open to US residents
Todd.. so do we
It is, if you reside in NJ