General Betting
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After having a Betfair account for a number of years and just using it to gamble with, I decided to have a go at trading over the weekend.
I started out with £20 in my wallet and did some trading on the snooker from the semi finals onward. Started out making £2 trades and after the first day I managed to create a green book with around £5 win on any of the four outcomes. Because at that point I was essentially trading with previous profits I relaxed a bit and started trading between £2 and £10 at a time. At no time did I bail out and trade at a loss (couldn't find it in myself to do it) and just waited for the odds to shift - which was probably the wrong thing to do. Over the fours days I traded around £850 and came away with a £24 profit - so a bit better than doubling my money. It was a hard four days graft for twenty quid but I guess things would scale up to some degree to make the effort worth it. That works out at around 5% average gain on trades. No idea if that's good or bad for snooker.
Anyway, does this seem like a reasonable start? Beginner's luck? Is snooker particularly easy? What other markets behave similarly? I did stop trading during the final couple of frames because I was unable to cope with the larger price differential (not sure why) so decided to play it safe.
I started out with £20 in my wallet and did some trading on the snooker from the semi finals onward. Started out making £2 trades and after the first day I managed to create a green book with around £5 win on any of the four outcomes. Because at that point I was essentially trading with previous profits I relaxed a bit and started trading between £2 and £10 at a time. At no time did I bail out and trade at a loss (couldn't find it in myself to do it) and just waited for the odds to shift - which was probably the wrong thing to do. Over the fours days I traded around £850 and came away with a £24 profit - so a bit better than doubling my money. It was a hard four days graft for twenty quid but I guess things would scale up to some degree to make the effort worth it. That works out at around 5% average gain on trades. No idea if that's good or bad for snooker.
Anyway, does this seem like a reasonable start? Beginner's luck? Is snooker particularly easy? What other markets behave similarly? I did stop trading during the final couple of frames because I was unable to cope with the larger price differential (not sure why) so decided to play it safe.
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A good start
At no time did I bail out and trade at a loss (couldn't find it in myself to do it) and just waited for the odds to shift - which was probably the wrong thing to do
You have to address this though. Otherwise you will win 80% of the time, but the losses will wipe you out.
Good Luck
At no time did I bail out and trade at a loss (couldn't find it in myself to do it) and just waited for the odds to shift - which was probably the wrong thing to do
You have to address this though. Otherwise you will win 80% of the time, but the losses will wipe you out.
Good Luck
Sorry to say that you probably got lucky. Trading snooker frames can appear easy for long periods, but essentially you're guessing on whether there will be a poor shot, a good shot, a kick, a bad bounce etc, which of course is impossible to know.
The final was particularly easy to trade for layers as Trump built a lead in nearly every frame then gave it away. Some matches by contrast have nearly every frame won at one visit.
The only way you'll know if it wasn't just luck is to carry on (tennis game betting etc) and hopefully watch your bank grow every week. How about updating the thread once a week with your new balance to let us know? And good luck :)
The final was particularly easy to trade for layers as Trump built a lead in nearly every frame then gave it away. Some matches by contrast have nearly every frame won at one visit.
The only way you'll know if it wasn't just luck is to carry on (tennis game betting etc) and hopefully watch your bank grow every week. How about updating the thread once a week with your new balance to let us know? And good luck :)
I'd say it was luck, at the end of the day you've just had £20 on a 5/4 shot. Is snooker easy? I'd say it's difficult because it is easy (relatively)
As you increase your stakes your return goes down.
In a lot of strategies the optimum stake is literally between £2 and £10.
As you increase your stakes your return goes down.
In a lot of strategies the optimum stake is literally between £2 and £10.
some slightly harsh replies. the lad shows promise imo.
trading with minimum stakes is a great way to learn. keep doing that for a bit and good luck.
ps - don't move into my markets though.
trading with minimum stakes is a great way to learn. keep doing that for a bit and good luck.
ps - don't move into my markets though.
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