tirsdag den 29. juni 2010

My Screen



I really cant figure out if im overdoing it with, graphs and indikators. I posted a screenshot of my screen(2 screens).On a third screen i have a live TV feed, so there is alot to keep an eye on.

When i try to look at the pictures on Adam heatcotes blog and other succesfull traders blogs, it seems that they only have the ladder and a live TV feed.

I would really like some comments on my screen setup, as im trying to find out if there is a easyier way. If you could tell me how yo have your screen set up it would be just perfeckt.

Please comment

Saved by the bell



Awfull trading yeserday, i dont know i it was the markeds that was fucked up, or if it was just me who was out tune, afterall i vent been trading for almost a week, as you can see from my screenshot i was down quite a bit, but the last race of the day saved my ass, and i finished 300 or so up.

These kind of ups and downs just confirms what i have been saying for a long time, you just have to win one more race every day then you loose, and you will have a profit.
the key to it all is very simple, but yet so hard to master,,,,,,

PATIENCE


Its just like a game of online poker, what seperates the fish from the sharks, the sharks dont tilt when they get a bad beat, because they know they are gonna get a monster hand very soon, the fish on the other hand gets very frustreted when they get a bad beat, and then they are in such a hurry to win it back that they starts to make bad desitions, and this is just what the sharks are waiting for.

torsdag den 24. juni 2010

Ready to roll

Finally my new screens have arrived, but not without trouble, as the online company have written the wrong adreess on delevery, this resultet in a 2 delay on delevery.

I havent been trading all week and tomorrow am going shopping for new furnitures, so im very likely not trading tomorrow either, Saturday im going to a big festival nearby, theres a lot of famous artist playing there.

Most likely ill first be trading again on monday, i have a very strick rule i must follow, and that is that if im trading, it have to be all day, and not just half of it, and this is because of the losing and the winning strikes that acurres in trading, and i know that if im trading all day i will most likely not come out of the day with red numbers.

Heres a picture of my new trading setup i now have 2 24 inch screens for trading, and 1 20 inch for watching the race live.

fredag den 18. juni 2010

Yet another lovely day on Betfair

Today was like taking candy from children, it was all so predictable, and i got it all right.

I think im gonna take notes of what i could be winning if i green up on each race over a mounth or so, and compare it to what i actually have won by not greening up. If all the favorites today won i would have made over 2500, but ofcourse all favorites cant win.

Heres a screenshot of todays P/L



onsdag den 16. juni 2010

Why i dont green short price favorites

I think all traders green up all their races, its a way to prove to them self that they have the deciplin and proving that they dont get tempted not to green up,,,, but not me, if i made a nice profit, and i can see that people just keep throwing their money at the fav i will not green up.

The last 2 day im up almost 1600 and im expecting to hit 10 k sometime in the next 5-7 days, when the target is reached, my girlfreind has convinced me that we need new furnitures and that our daghter need a new playground in the garden.

In this video i won 610 as the the won






video

søndag den 13. juni 2010

Low quality markets Sunday

Sunday was my worst day trading for long time, at one point i was down almost 1000 but at the end of the day i cut my losses to a total off minus 123 total, so i think thats ok.
Heres a video i shot of the first race today, was a ok trade but it just shows how trading can be on weekends, dont know why i even bother trading it at all.





video

fredag den 11. juni 2010

We are on a roll

Cant beleive this is happening, finally my dream is comming true.
In 2 days ive made over 2900 on the exhanges.
Ive decided that when i reach 10 k of profit, which i expect to do in the next 5-7 days, im gonna raise my stakes from 1 k to 2 k.


The beginning

Today i have erased all posts from my blog, all the posts was about the learning proces of becoming a succesfull trader on betfair.
Im now getting consistent profts from trading the pre race markets on betfair, and im gonna use this blog purely as a diary.
Im gonna write about the ups and downs and post my P/l and upload videos of my trading to help other traders.
Aside from trading, im gonna put up some courses to Danish people who want to learn to trade sports on betfair.

I dont know what % of people who starts trading, actually make it, but i do think i have the answer as to why i made it, and that is that i dont scalp i dont trade 2 or 3 ticks, i try to look at the bigger picture of the prerace markeds and the way the betting has progressed, and when i think i have an idea of wich way the market will go, i back or lay with all i got, i then go for a very minimum of 5 big ones (lay at 4 back at 4.5) and more often then not much more, and at then end of the day i only have to have won one race more then i have lost, to make a nice profit.
The great thing about this strategy is that, if i have predicted that the marked will go one way and it dosent, i very rarely get out with red numbers.
Let me give you and example,

At a given race i have spotted that the 4 fav is getting alot of volume and the price is comming down, i now decide to lay the fav, at the current price , lets say odds 4, but then the very next second the 2 fav sky jumps from 4.7 to 9 and it just wont stop, this results in a steam on the 1 fav which i layed at 4 just a second ago, the price is now down to 3.5.
So the most natural thing a trader could do here is to close his position and take a loss, and try to win it back at the next race, But i wont do that, because ive have already seen the 4 fav steaming, and it seems to keep on doing that, so obevioes when a 4 fav is steaming the 1 fav isnt that strong, and the psykology of this is that if all the gamblers out there, who wanted to back the 1 fav is seeing that the 4 fav is getting alot of support, they vill start to think that maybe there is something wrong with the 1 fav, and they wont back it. now im now just waiting for the 1 fav to drift out to 4 again so i can close my position without a loss, and more often then not this will happen when the drifting 2 fav hits a resistent point.

Best of luck to all