Nice posts, thanks.
One thing I was wondering. When we do back/lay on betfair we are paying commission only on net winnings which are pretty small when you do both back and lay.
In case we want to back someone with a good price on a bookie we will only lay on betfair and in case we win we will have to pay the commission on the full winnings. So the price on the book should be much higher to not take the exchange price.
A guide to trading
- KC83
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Re: A guide to trading
Hi there! Nice posts!
Can You tell me how big was Your bankroll before You started trading professionally? How long did it take You to make decision about trading for living? What was Your worst mistakes?
I had few more question but it all gone out of my head right now:)
I am a little bit broken after I blow out my hard gained bankroll( which wasn't large but took a lot of time ) in less than 2 weeks!
Can You tell me how big was Your bankroll before You started trading professionally? How long did it take You to make decision about trading for living? What was Your worst mistakes?
I had few more question but it all gone out of my head right now:)
I am a little bit broken after I blow out my hard gained bankroll( which wasn't large but took a lot of time ) in less than 2 weeks!
- Archi
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My starting bank was 400e but I always had the option to refill if I blew it. I was an amateur gambler for a couple of years before I moved into trading. I traded about two years part time before I moved to full time. Could have done it a lot sooner though.
I can't decide what was the worst mistake I made but I also blew months of hard worked earn profits in a couple of days/weeks. Especially in the beginning.
Better to make this mistakes sooner rather than later. It cost you less money...
Re: A guide to trading
Yes, definitely include betfair's commission. Also be careful with the different rules in case of retirement. Betfair will settle the bets if the first set is completed while a lot of soft bookies will void your bets if the match is not finished. You will find a lot of arbs between betfair and soft books if a player has medical problems.DonkeyKong wrote: Nice posts, thanks.
One thing I was wondering. When we do back/lay on betfair we are paying commission only on net winnings which are pretty small when you do both back and lay.
In case we want to back someone with a good price on a bookie we will only lay on betfair and in case we win we will have to pay the commission on the full winnings. So the price on the book should be much higher to not take the exchange price.
Sorry to hear that.KC83 wrote: Hi there! Nice posts!
Can You tell me how big was Your bankroll before You started trading professionally? How long did it take You to make decision about trading for living? What was Your worst mistakes?
I had few more question but it all gone out of my head right now:)
I am a little bit broken after I blow out my hard gained bankroll( which wasn't large but took a lot of time ) in less than 2 weeks!
My starting bank was 400e but I always had the option to refill if I blew it. I was an amateur gambler for a couple of years before I moved into trading. I traded about two years part time before I moved to full time. Could have done it a lot sooner though.
I can't decide what was the worst mistake I made but I also blew months of hard worked earn profits in a couple of days/weeks. Especially in the beginning.
Better to make this mistakes sooner rather than later. It cost you less money...