Trading for Novices, seeking to Learn.

turfline
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Trading for Novices, seeking to Learn.

Postby turfline » Sun Mar 31, 2013 1:38 pm

This is a Thread for Punters who do not understand or are not sure about Laying or using the Exchanges, but would like too.

To start with, imagine you are watching a Sporting event from ground level, & you wish to have more Knowledge concerning the Event, & next to you is a building with many level's, as a metaphor, we will start at ground level.

Tools, & Requirements for using the Exchanges.

Knowing or having a Zues Book would be advantageous, & knowing your Maths, & having a Calculator, & pen, & a notebook for jotting.


Below you will see my twitter account, & I tweet on that daily with Trading selections, I find this a very good medium, & with more OLBG members on twitter the better.

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Postby Dammo Qwirky » Sun Mar 31, 2013 3:32 pm

and if anyone wants to learn trading, i am a qualified Betfair trainer so can assist with most aspects of Betfair from learning the basics to some strategies.
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Postby turfline » Sun Mar 31, 2013 3:45 pm

Hi DQ, & thank-you, I do think that basic's is the best place to start as the thread gathers pace, just as if you are building a house from it's foundations to it's domestic fittings.

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Postby turfline » Mon Apr 01, 2013 12:23 am

Can hardly believe it is April already, the coldest I can remember for decades.

Many punters have asked me a question that many find hard at first to understand the answer I give.

You can have 50 (fifty) losing selections on events, & still make a Profit on most of your trades.


I call this a changing of the "mind-set".



(will up-date this thread daily, but for now there are (9) meetings to work out )

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Postby Micko70 » Mon Apr 01, 2013 12:31 am

I have a question for either Turfline or Dammo to answer please?

At the moment i normally only trade on Golf, although if i am waiting for 1 match for say 3 or more goals i will back the under to guarantee a profit

My question is -

If i back a golfer at say 100/1 and he sits in say 3rd/4th after round 1, is laying him off now at half his odds the way to go or should i wait?

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Postby Dammo Qwirky » Mon Apr 01, 2013 1:01 am

id wait. u arent gonna make much on that. u can pretty much help yourself to a free bet on him but depends on your confidence on him winning. have u just placed a trade with no confidence of him winning? are u thinking he will wilt? if you are looking to lock in a decent profit id be looking for a lot lower. depends what u r looking for as a return. id recommend traders decide that before they start as its easy to get greedy in play. think in terms of value as usual. would u look at him at odds of 50 and think thats way too low and would lay it with confidence of him not winning (assuming u have infinite bank!)
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Postby gecko6 » Mon Apr 01, 2013 1:22 am

Micko >

have a look at my thread on golf trading from a few years ago...

http://www.olbg.com/forum/topic49_25456.html

hope it helps
.

* Football Pro Tipsters 12 mths LSP â–º 2nd

* Horse Pro Tipsters 12 mths LSP â–º 15th


* me on twitter â–º @gibberworld

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Postby Micko70 » Mon Apr 01, 2013 9:07 am

Cheers Dammo, i have only been fortunate enough twice to have backed a monster priced golfer and his odds have more than halfed after round 1.

The first time i done so he was as low as 12/1 going into round 4 and let him ride and he lost, the 2nd time a few weeks later i think he was 33/1 or 40/1 after a decent start so i laid him off and it paid off for me.

When i backed John Merrick earlier this year at 250/1, i didn't have the money in my account to back his opponent in the play off and guarantee myself a huge win, but luckily for me he won.

Gecko, i will have a read of your thread later today at some point

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Postby turfline » Mon Apr 01, 2013 1:29 pm

To be able to cover all sports/events is very difficult for any Trader, I concentrate on Horse Racing, & Football.

Reason Being.. The Edge.

Having an The Edge in your chosen Sport/Events is key to making Profits.

My Edge in Horse Racing is that I Handicap Races, this gives me an Edge as I have my own Racing Software designed to my specifications.

The more you know about your chosen sport/event you are trading in, the better, being a jack of all trades/sports can cloud your judgement.

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Postby turfline » Mon Apr 01, 2013 1:44 pm

When it comes to "Trading Out", in a horse race if a selection is coming to the second last or last hurdle/fence, and it is trading Low, and clear or looking all over the winner I have my settings on my Bot (robot) to have Traded out with a Profit, after all why play for an extra 10 to 20 "ticks" when you have 50 to 200 "ticks" in the bank.

( I have had many Trades that looked all over the winner, only to fall or un-seat at the 2nd last or last obstacle or get caught on the post)

It is not about the selection winning, it is about making a profit on trading.

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Postby nors » Mon Apr 01, 2013 2:28 pm

It would be good to get some questions from members and also some practical replies from more experinced traders, or practical strategys.

How do others find bots? i never use them, preferring to only trade when i have the time to spend all day in front of the exchange.

When the price goes against you how long do you wait for it to bounce back ?

What % of trades do you get wrong? This would be really helpful.

I rarely trade in running and if i do, its very small stakes to top up my previous profits before the off, or to try and claw back some losses on a race i have a strong opinion on. It would be around only 1% of my previous before the off back or lay. But on a regular day if i trade 12 races, i may only trade in running once.

Be good to get some discussion going.

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Postby turfline » Mon Apr 01, 2013 4:39 pm

Planning is a must in my opinion, I Plan my Trades for the day, and have all the info in front of me 2 to 4 hours before racing starts.

Preparation is Key.

Bots are needed for the In-Running Play, if you split the screen, and have Betfair, and your Bot screen side by side you will see how fast the trades take place, far quicker on your Bot/settings apply., I set my Refresh Rate (Auto) at 0.3 on my Bot page.

I use the Ladder on a Bot (robot), reason being that you can see the WOM (weight of money), and have your Trade in a favourable place in the queue for it to be taken up.

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