Why You Need To Learn To Trade On Betfair
Whenever I talk to people about betting, the conversation inevitably comes around to trading on Betfair and why this is such a pivotal part of modern betting. My view is simple, it is the safest form of betting, as you are only exposing your betting bank for short periods of time, as you go in and out of markets with your trades.
In short trading allows you to “build” profits, whereas laying and backing is all about “making” profits. When you understand this principle, you will see why I love my trading, as a compliment to my backing and laying strategies.
As you can see from this simple trade at Wolverhampton, I was in and out of the market around 10 times, then I “greened up” to spread my profit across all the horses in the race, regardless of the outcome. This guaranteed me £14.04 profit. On a regular day I would do this 15 – 20 times to build my daily profits.
Betfair Trading Tips – Getting started with trading
Below you will see a series of four videos which lead you through some of the basic principles of trading on Betfair, please take the time to watch and absorb these videos and feel free to email me with any questions, or check out my 6 Weeks Trading training Course
Learning From A Master Trader
Some of the best Betfair trading tips I received was when spent a few days with Peter Webb, the developer of Bet Angel software and a trader who makes 000’s every day trading on Betfair. Peter shared with me his approach to trading, the equipment he uses and discussed the advantages that he felt Bet Angel gave him in his trading. I also recorded a video interview with him and you can see the 6 videos from that interview below.
Developing a profitable trading strategy
I learned the secret to trading profitably very early on in my career as a trader and it followed a number of years recording my results every day and on every trade.
The secret is that you must be selective in the races you trade across the day. As a general rule of thumb, I will trade around 70% of the horse racing markets in any given day. The remaining 30% will be too volatile and I steer clear of them.
I share exactly how to identify volatile and safe markets in my 6 Weeks Trading Training Course and this one strategy can save you a lot of heartache.
“Hi Richard, I would like to say thanks for a great week of racing tips, I made 23pts profit and my bank has increased by 20%, well done, I don’t know how you do it”
“Wow, great stuff Rich +26pts profit today – Very pleased! Thanks very much, keep up the good work. Making hay at just 10 quid a point. My little 2-pound-each-way double delivered as well. This will pay for my trip to Longchamp. Looking forward to more winners from you”
What can I say Richard, £1000 clear profit! which obviously equates to £500 + £500 over the past 2 weeks! Cant be bad!