Improving Your Betfair Trading…
Improving your Betfair trading can be a challenging experience. But, as with everything, given the right structure and focus, it’s absolutely possible. Just this week, I’ve been recording a lot of my trades and taking the time to watch them back. However, after a couple of days, I realised (since having to replace some faulty memory in my machine) that I’ve been recording with the wrong settings, so the playback quality isn’t what it could be. But that’s not so important—I’ll add a few recordings to the YouTube channel when I get a chance. Taking time to analyze, critique, and implement changes in my own Betfair trading is already time-consuming enough (especially when balancing some quality beer-garden time, too).
It can feel like a bit of a chore to sit and watch through your own trades, especially after a long afternoon in the markets. But if you’re considering Betfair trading full-time at any point, I’d highly recommend it. It can be quite eye-opening to sit back, review past markets, and notice things the second time around. One thing that keeps coming up for me, even at this stage, is the number of “maybe trades” that sneak in, especially after a frustrating moment in the market. I think it’s important not to view these moments as failures but instead to be more aware of them. It reminds me of a post I made years ago—awareness of your feelings can be crucial to success in Betfair trading.
Another thing I’ve noticed in my own trading is how, at points where I either miss the exact entry I wanted, open a trade a bit late, or worse, see a potential exit hit before I could get my entry matched, I’m more prone to over-staking. It’s something I usually correct shortly after entering, which is good, but it would be better if I didn’t pull the “trigger finger” so easily in the first place. Even after nearly five years of Betfair trading daily, I still make mistakes, but I guess nobody’s perfect! Hopefully, that’s some kind of consolation for those who struggle with similar issues.
I find the best time to review trades is the morning after—not too long before the day’s racing starts. That way, you’re very aware of the little mistakes you might be making before you dive into the action.
3 thoughts on “Betfair Trading – Record, Analyse, Critique and Implement”
Hi Caan, could I ask what fraps/recording software you use? Cheers.
Cameron
Hi Caan,
I keep records of all my losses I record the track, race type, amount of loss and the strategy i used to incur that loss.
At the end of the month I then analyse all my losses by making a pie chart etc. An example would be that when analyzing my results from may I found that 35% of my losses came from swing trading in handicaps I then use this data for when I am trading. So when I am attempting to apply a swing trade in a handicap I know that is where I incur 35% of my losses so it makes me be that bit more careful in what strategy I am applying in each market.
Hope this makes sense.
Regards Glenn
Good call Glen, definitely.