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WPlay
06 Nov 09 08:54
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Date Joined: 23 Jun 08
| Topic/replies: 3,029 | Blogger: WPlay's blog
I was wondering what kind of rules the forumites impose on them self while trading. I think you need to have some rules, otherwise you will never cut it. Taking a chance this thread turns inot a mockery I will first post a few of my own:

* If I have backed a player and put in a lay to secure a profit, I will never lower the lay price, I will raise it though if I think getting it matched is taking too long (there is one exception to this rule, but lets stick to it for now)
* I never back a player that is not ahaed and not leading serve in the final set.
* If a match turns against you, but you get a new chance to get out unharmed or with a tiny profit (for instance a rebreak) don't wait, take it.
* Never bother again with a match once you are green on both sides.
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Report Five By Five November 6, 2009 8:57 AM GMT
Only back players who haven't been jinxed, a shocking omission.
Report dlarssonf November 6, 2009 9:06 AM GMT
* I never back a player that is not ahaed and not leading serve in the final set.

never backing a player just because he/she is not ahead doesn't make much sense to me
Report slixydix November 6, 2009 9:14 AM GMT
use your instincts...its the only way....i have seen good players crumble when 4-0 up
Report WPlay November 6, 2009 9:18 AM GMT
@ dlarsonf, that is not ahead in the final set.. total different story if it is the first set..
Report WPlay November 6, 2009 9:23 AM GMT
Actually that should be not ahead AND/ OR leading serve..
Report good value losers November 6, 2009 9:23 AM GMT
never back the pre-match dog at odds on in running, no matter how much you want to! too often the pre-match fav will stage a comeback and you're fcked.
Report WPlay November 6, 2009 9:26 AM GMT
Agree GVL... be very carefull with these, could do it with a stream and a good feel of the match.. but if the fav comes back no more decent exit points
Report jazoei November 6, 2009 9:28 AM GMT
Never bother again with a match once you are green on both sides

that's **ing good advice, i've done terrible things to my green in the past, but not anymore.
Report WPlay November 6, 2009 2:16 PM GMT
ttt
was hoping for some usefull additions.. :)
Report SwindonBoy November 6, 2009 2:21 PM GMT
try not to back the loser
Report horacenotice November 6, 2009 4:45 PM GMT
Dont tune into red tube during games
Report WPlay November 6, 2009 5:54 PM GMT
Backing losers doesn't have to be a problem when trading..
Report Birchola November 7, 2009 5:34 AM GMT
This is my own personal sheet I refer to occassionally to keep me focused...........


TRADING RULES

THE FIRST BET IS THE MOST IMPORTANT BET. WAIT FOR A GOOD POSITION. DO NOT RUSH IN FOR THE SAKE OF IT. THERE WILL BE PLENTY OF OPPORTUNITIES.

IF THE TRADE GOES WRONG, RED OUT IMMEDIATELY! DO NOT LET IT RUN IN THE HOPE IT WILL TURN AROUND OTHERWISE A LARGE RED WILL MATERIALISE AND YOU'LL BE LEFT WITH A CHASING MENTALITY.

TRADE FOR POSITIONS BEFORE GREENING OUT. BREAK THE MATCH DOWN INTO SHORTER TRADES. DO NOT HOPE FOR A 1.01 TRAIN EARLY ON. OTHER OPPORTUNITIES WILL ARISE. MARKET SWINGS WILL OCCUR.

REALISE POTENTIAL SWINGS INSTEAD OF SIDING WITH THE FAVOURITE. ANYTHING CAN HAPPEN.

RECOGNISE WHEN A MARKET HAS COMPLETED IT'S SWING/OVER REACTION AND TRADE ACCORDINGLY.
Report oneday69 November 7, 2009 7:49 AM GMT
Excellent rules to follow Birchola.Do you have a minimum price at which you will back a player.
Report GameTrader November 7, 2009 8:20 AM GMT
here are mine .. if anyone finds useful...

1. never green out the whole amount when a trade goes right - that is just throwing profits away... cutting profits short is a bad way to trade - losses should be cut short not profits. green out some (say half) and leave the green on the then likely winner so you can take your break even odds a safe distance away - then stop out for 0 if price get back there.
2. never trade above 2 (back or lay)... it is silly to pay more spread because thers is always an equivalent price to (lay or back, respectively) below two on the other side.. ignoring odds over 100 of course. Basically I flip and flop with the market. This only holds true for two outcome events.
3. red out early - within 20-25 pips against you - there is always time to trade your way back into a match..
4. realise and remember that a bank cannot grow without losses - its just a matter of keeping your losses short and profits big.. then it doesn't even matter if you win fewer times than you lose - you will still be up.
5. preserving your bank on here is THE most important thing - if you havent had to deposit more money on here for the last 6 months... you should be in 6 figures by now - if you are not - you are doing something wrong...(and No, Im not anywhere near that!).
Report Birchola November 7, 2009 8:39 AM GMT
I dont really limit prices as sometimes a short price can be good value.

I just broke rule number 1 by backing MJMS at 1.65 during the first game. It was the last time she lead in the match :_|

THE FIRST BET IS THE MOST IMPORTANT BET. WAIT FOR A GOOD POSITION. DO NOT RUSH IN FOR THE SAKE OF IT. THERE WILL BE PLENTY OF OPPORTUNITIES.

If I could stick to my own rules I'd be rich :(
Report oneday69 November 7, 2009 2:14 PM GMT
Mistakes will always be part and parcel of gambling were only human ,no doubt you redded out PDQ as per another rule.To my shame i was green and backed at 1.01 on a cert! and of course ended up losing really stupid and i have learnt the hard way, but i have learnt. It does seem to me that tennis is the best way to make almost daily profit on betfair not easy,but quite possible,discipline being the key.
Report good value losers November 7, 2009 2:44 PM GMT
nice guidelines, birchola, props to you. won't go too far wrong following those.

GameTrader 07 Nov 09:20
1. never green out the whole amount when a trade goes right .....

some would say lump more on! :D
Report petr cech November 7, 2009 2:51 PM GMT
PMSL @ gvl giving trading advice :^0 . The "guy" has only had a handful of bets in his life. He just come on the forum to tell us who has the best títs this week.
Report good value losers November 7, 2009 2:54 PM GMT
why thank you for the compliment :) well done for recognising that us PROpunters bet less, not more.
Report petr cech November 7, 2009 2:56 PM GMT
when is Mary Pierce coming back please?
Report good value losers November 7, 2009 2:59 PM GMT
:^0 strange for you to suddenly appear out of nowhere and try and have a pop at me. when people do that it usually means they must've had some bad losses today. never mind, read this fred, you might get some hints.
Report petr cech November 7, 2009 3:03 PM GMT
good value losers 07 Nov 15:59
:^0 strange for you to suddenly appear out of nowhere

--------

Riiiight. Becuase you haven't been doing this to me for the last 3 years? ;)

I'm only returning the favour.
Report tefal November 7, 2009 3:17 PM GMT
looooooooooooool
Report Birchola November 8, 2009 8:47 AM GMT
I got a compliment from GVL :0 High praise indeed :x
Report bohemond November 8, 2009 9:02 AM GMT
not read through all of this but agree with birch about the significance of your first poistion/bet and the desirability of redding out if that position goes against u

interesting point about not going back in after achieving a green book and tho i understand the thinking

HUGE OPPORTUNITES ARISE FROM LAYING NEAR THE DEATH IN TENNIS ie u cant run the click down like in rugby and football so selective laying of players who have previous in terms of struggling to close out matches can yield gr8 results
Report bohemond November 8, 2009 9:05 AM GMT
also dont agree with the terminology NEVER u have to be flexible in tennis trading tho clearly u have principles well worth being aware of
Report WPlay November 8, 2009 11:35 AM GMT
1. never green out the whole amount when a trade goes right - that is just throwing profits away... cutting profits short is a bad way to trade - losses should be cut short not profits. green out some (say half) and leave the green on the then likely winner so you can take your break even odds a safe distance away - then stop out for 0 if price get back there.

I have two types of trades:
1. I back the guy that (I presume) is gonna win.. then (only since a short while) instead of laying of the entire amount I lay off in increments
2. I back odds I'm pretty sure will fall some more.. then I take like 10-20 ticks and run (lay off completely)
Report DStyle November 8, 2009 12:38 PM GMT
only one:

understand what it is you are betting on, at what price and how big your stake is.

if you think that's stating the bleeding obvious, then i suspect you may not understand it.
Report WPlay November 9, 2009 8:12 AM GMT
understand what it is you are betting

Big one, like betting on a qualli match featuring the nr. 1 seed, who may allready be in the main draw :)
Report bohemond November 9, 2009 9:04 AM GMT
like that post dstyle - a lot to it and has me thinking
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