If you’re completely new to this subject, first things first you should download a free copy of my Beginner’s Guide To Betfair Trading. This will give you the basic concepts and fundamental knowledge required to undertake any kind of trading, whether it’s tennis, football, or the mighty horse racing markets! If you don’t yet have a Betfair account, make sure you take advantage of the free welcome bonus money on offer for new account holders. Visit my Betfair welcome bonus page for more information.
Horse racing trading, especially in the pre-race markets, is by far the most challenging approach. I therefore suggest you start out with Football until you fully understand the process of backing and laying, using trading software, greening up, and dealing with many of the psychological and emotional issues involved. The racing markets demand extremely fast thinking and reflexes, one mistake can be costly, so they’re best left for when you have a lot of confidence in your general abilities.
Here on the website I will freely give away a fair bit of information but more detailed stuff will be reserved for the ebooks I sell. Aside from the fact the information has cost me a fortune to learn and develop over the many years I have been trading, it would take hours to explain the methods well enough in a blog post to enable people to have much success with them, especially beginners. Therefore it would be fairly useless and maybe even irresponsible to just throw out a basic bullet point list of some methods, when I know it takes a lot of intuition and experience to fully master them. Trading is a journey, you can’t just hit the ground running even with a time-tested strategy.
When I have time I post some of my trades on the blog, but this is for information only and is not any kind of ‘trading advice’. I take no responsibility for your trades, win or lose! Trading on Betfair is an adults-only enterprise, and it carries significant financial risk to someone not taking it seriously enough. While you can make decent money, you can also lose a lot of money very quickly. I hope the information on the site will continue to help many people out there who are trying to learn and not having much success so far. We have all been there at some point, and anyone who claims to have been profitable from day one is almost certainly telling porkies.
There are so many systems and strategies to choose from, many costing a fortune yet not worth the paper they’re printed on. I don’t claim to be any kind of ‘guru’ but I think I do pretty well. I also mean it when I say I truly want to help people succeed in this business.
I spent quite a few years trying out methods and losing a lot of money along the way. I used to employ around 5-10 strategies per DAY. Not only was this stressful, but it was also very hard to focus properly. I ran a £3000 bank down to around £300, not for the first time either! I then began to cut things down and I gradually stopped using the less successful strategies and focussed properly on the ones I was doing better with. My trading immediately improved and I realised I had been sabotaging myself for a long while by failing to note down and analyse my results carefully enough.
Keeping records is essential for anybody, but especially for beginners, it’s your lifeline. I began to fine tune my approach, sticking mainly with Lay the Draw and a handful of other football methods combined with racing trading. Having only a few hundred pounds to trade with, and no way to top it up, caused me to tighten up massively too, taking fewer risks and being much more selective before opening any positions. This enabled me to grow my bank back up significantly and that was when I knew I was finally starting to see signs of a real business developing, and when the pain of losing so much cash finally started to fade away.
One area of this site which is sorely lacking at the moment is trading psychology. I intend to publish some articles on this subject during 2019 when I find the time. As I mention in the ebooks, any trading strategy is only as good as the trader using it. It doesn’t matter how proven a strategy is, if it’s in the wrong hands then it’s worse than useless. The emotions of fear and greed are the two big ones, but there are countless more issues which make trading extremely challenging for the average person. Add to that the pressures of normal life like earning a living in the day job while you’re learning, and suddenly you really are facing an enormous challenge when you first start trading. Therefore I think psychology is by far the most important topic which novice traders overlook or at least grossly under-estimate. I hope to address this soon by providing some advice and recommended reading for people to learn about how the mind works and how to overcome many of the emotional difficulties most traders experience.
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I wish you all the best for your trading career and very much hope I can have something to do with making it a huge success!