Well after a rather hectic last month, trying juggle family life. Trading and a training course in with leaving my previous job the ‘moment’ has arrived. I’m now free to spend my days trading full-time without the half-hearted sessions!
This should have been a good moment (I have been looking forward to for a long time). It’s just typical it should come as the new ‘Premium Charge 2’ debacle unfolds now. Long-term I’m not sure not naive enough to think it could be all ok. It wont effect me directly as I’m not over the threshold just yet (account was negative before learning to trade, and quite a bit of generated commission). It’s most definitely concerning as Betfair’s future looks to be rather bleak…. that said; I haven’t traded for about 4 days.
I had a look at the markets today and while Betfairs markets looked pretty shakey. Betdaq liquidity had increased somewhat, at this stage it’s too early to tell but the future could be over at Betdaq. I’m going to join all who have decided to go to Betdaq in protest for as long as I can. Initially I feel a little daunted by it, as its new. Hopefully the Geek will release a Betdaq version soon!
One thing I have noticed is; over previous weeks with this deliberate ‘pushing’ about of the markets by large sums. It’s possible to work out at times where there is liability that needs to be closed. If you time it right, in the last 30 seconds say it is possible to make a nice little earner. Their ‘closing’ of a very large position skews the price. Obviously its a bit of a difficult one but I was thinking: should the thin markets continue, its something that can be a great help, especially if it’s the same on Betdaq!
What a day to go pro bro?!
Although the new PC only effects a small minority, I believe that it does effect us all. I would go so far as to say that 80% of liquidity on betfair is from 10-20% (that figure maybe generous) of users and it is from these users that will be the ones being effected by the new PC terms. So although you or I may not be paying the new PC it will effect us indirectly by the big hitters going somewhere else (Betdaq,Smarkets) or changing their strategy.
Hope it works out well for ya chuck.
PS – Interesting comments about the liability needing to be closed btw.
I know mate, its sods law it should all happen in conjunction with my Full time date but im determined to not let it get to me! I agree with what you say… hopefully it thows us some good opportunities in the future.
i am betfair full-time trader since 4 years and since short time i started to trade for customers with a ROI of 35% per month on average.
If you are interested to join me or share trading views dont hesitate add me in msn [email protected] or mail me in that adress.
I am at present developing an application for Smartphone to bet on tennis matches In Play since the stands of a stage(stadium), taking advantage to see the point marked directly(live) with regard to the traders who have to wait for the TV flow or the stake has in the daytime of the scoreboard on internet (delays of several seconds.)
This kind of trading is called of the courtside trading.
Very enlightening regarding liability and position closing. Traded with that in mind tonight and quite positive (just mentiond it on my BLOG), just realised I credited the Toy Forum for the comment erroneously. Sorry bout that Caan, unless you mentioned it there also ?