Improving Betfair trading…
Improving your Betfair trading can prove a difficult experience. But as with everything, given the right structure and attention it’s quite possible. Just this week I’ve been recording quite a lot of my trading and taking time to go back and watch it through again. After a couple of days though I’ve realised (since having to change some faulty memory in my machine) I have been recording on the wrong settings. Playbacks not the quality it could be. But that’s not so important, I’ll add a couple of recordings to the YouTube channel when I get a chance. Taking time to analyse, critique and implement my own Betfair trading changes is time pretty time-consuming as it is though (and fitting around some quality beer-garden time too).
It can seem like a real pain to sit and watch through your own trades, especially after a long afternoon in the markets. But if your thinking of Betfair trading full-time at any point I’d highly recommend it. It can be quite surprising to sit back and watch previous markets, and spot different things the second time around. One thing that seems to pop up again for myself, even at this stage is the amount of ‘maybe trades’ that can creep in. Particularly after a frustrating moment in the market. I think its important to not look on these moments as failure or a negative thing, but to be more aware of them because of it. It reminds me of a post I made years ago, awareness of how your feeling can be crucial to success when Betfair trading.
The other thing I’ve noticed about my own trading. At points where I have either, missed the exact entry I wanted, opened a trade a little late, or even worse; had a potential exit hit before I could get my entry matched. I’m more prone to over-staking. It’s something I seem to correct shortly after entering, which is good. But would be better if I didn’t initiate the ‘trigger finger’ excessively in the first place. After nearly 5 years of Betfair trading on a daily basis, I still make regular mistakes. But I guess nobody is perfect! Hopefully that’s some kind of consolation for those of you that struggle with such problems.
I find the best time to review some trades is the morning after. Not too long before the days racing starts. That way you’re very aware of the little mistakes you may be making, before you get stuck into the action.