Automatic Betfair Trading

That well know Betfair trader Sir Francis Bacon (1561 - 1626) said knowledge is power and I think he stumbled upon something with this apposite phrase. 

In all walks of life the more knowledge you attain on a chosen subject the better understanding you will have, and the more opportunity to prosper from this knowledge. 

Now you don't just gain knowledge to prosper but if you want to prosper than this knowledge will help.

The OLBG bookie guides such as the one below area good starting point. 

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However Betfair Exchange trading is an area where some enter the market without any gleaned knowledge, with some traders quoting: 

• "I know nothing about horses" 
• "I just trade the figures" 
• "The automatic spreadsheet just fires in the orders and I sit back" " 
• I lay everything under 1.5 in six runner or less maiden races" 
• "my bot handles all my trades".

 YouTube videos extol these simple get rich strategies whilst you sit back with your Pina Colada in hand.

Now there may be something to be said for taking the emotion out of trading, you are not swayed by outside influences, you stick to your figures system which you have proved works, less study time is needed where you can concentrate on other topics and interests, you don't need to be sat at your computer for hours on end.

But parameters need to be set and those with less knowledge of a market will not set those parameters in a way that can maximise gains or minimise losses. 

Many may miss out on golden opportunities because the bot cannot deduce hidden signals or get a feel for the market ahead of the support or drift. 

No bot I know can take a view, when conditions evolve. 

So if you just automatically trade the figures without knowing about the race you can profit, but the trader who has knowledge can maximise the profit because he has studied the market, and his superior knowledge of the event will give him an advantage plus the confidence on knowing the opportune moment to manually close trades or let them run. 

Isn't it funny how the words automatic and manual are used and viewed, automatic is viewed in a positive high tech way and manual seen as negative and old fashioned.

So the tools are there to trade automatically with limited knowledge whilst your washing the Bentley or mowing the lawn, but the trader whose Bentley doesn't gleam and whose back garden is like a forest in many cases can be more successful. 

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