I traded on tonights evening racing at wolverhamptom, i decided to use BetTrader pro and purchased 500 minutes to do so, and it was worth it i made a profit of £29.61 from just my £100 bank, i worked on the 2nd and 3rd favs again, taking 1 tick movements and just building up the profits before the off.
Happy days.
Hi Ron
ReplyDeleteNice days total, beats my weeks total of £21.15 and I'm curious to know what stake you trade at as I'm trading with roughly £26 per entry position with 1,2 and sometimes higher tick movements but not achieving anywhere near the figures you are.
Cheers
Hi mate,
ReplyDeletei use my whole bank, (backing 1st) say £100 @ 5.2 then i look to lay it off at 5.1 or lower, but happy with the 1 tick or even hedging straight away. so
5.2 @ £100 = £410
5.1 @ £100 = £400
= a profit of £10 if i were to hedge at this stage then it would be £10/5.1 which would green up £1.90 odd, but as i trade pre race some 20 minutes before the off, i will try and replicate the back then lay a couple of times hoping to get £20/30 in which to hedge, so that i could then produce £4/5 per race.
as you are using a 1/4 of the bank i am then your green up would 0.48pence
I hope that helps, i used to use 20/40 per trade but realised that it was better to use the entire bank, Obviously if i back at 5.2 and the price goes up i will place a lay in at 5.2 or even 5.3 then try and place a back in and hope the odds go down.
Have a look at these videos of "Badger" showing how its done, all i have done is copied him.
Scalping using a £200 bank with 1 tick movements
http://www.racingtraders.com/Betfair_Trading/TonyHargraves/Chester10.wmv
All the videos are listed here
http://www.racingtraders.com/Betfair_Trading/Trading_Videos/index.html
I hope this helps
Thanks Ron, I think I have more to learn.
ReplyDeleteMy bank is roughly £270 and I trade with 1/10th of this because...
If I lay first (max odds 5.0) my liability would be £108, I then have to back with £27. £108 + £27 = £135 or half my bank. I can then place 2 lay or back positions before my bank is "allocated", or so I thought.
From what you say would I be right in assuming that I could back first at £270 or, at odds of 5.0, lay first at £67.50 (liabilty £270) and still be able to close the trade even though the bank would read £0.00 after the opening position?
Hope I explained this well enough.
Cheers
Andy you could indeed back with your whole bank of £270 for 5.0 your winningw would be £1080 or course you would now want to lay this off at lesser odds say 1 tick so you lay 4.9 for £270 liabilty is £1053, but because you have made a profit by back at 5's this cancells it out leaving you the the difference which is 1080-1053 so £27 on the 1 runner, so if you hedge now its £27/ the current lay price say 4.8 = thus you would have £5.62 across all runners.
ReplyDeleteI have put up an image of my last trade at leopardstown where i netted £5.30 odd across all runners from a 1 tick movement.
Cheers
Surely though Ronnie, if you back first with your whole balance and the price drops to 5.3 or whatever, you can't lay it off because there's no funds in your account. Am I right here?
ReplyDeleteHi paul,
ReplyDeleteHave a look at this video,
http://www.racingtraders.com/Betfair_Trading/101607CoinFlippingVideo4844/101607CoinFlippingVideo4844.html
This is adam todd of racing traders he is trading using a £200 bank, the 1st race he trades on he lays 2.6 for £100 you see his bank drop to £47 yet he then backs at 2.56 for £100, later on he opens with a back the whole bank of £200 leaving his bank on virtually zero, his videos explains the mechanics of how it works.
It is possible, i am sure someone else can explain it better than me but would imagine there is a limit ie, lay £200 at 4.8 the odds rise way too much then the excahnge wont allow it, hence i scratch trades.
I also posted the question on racing traders forum, heres my post
ReplyDelete"Hi guys
Hoping someone can explain how its possible to say have a bank of £200 lay a selection at odds that is in effect your whole bank/liablity yet if the odds go up its possible to then back with £200, yet your bank balance is showing as zero?
Likewise Backing 1st with the whole bank then laying it off, surely there is a limit as to how high one can lay off obviously its ideal to lay at lower odds, but what if the trade goes against you, i have watched adams videos where he is doing exactly this, the coin tossing/flipping one.
any one hazzard a guess to explain ?
Many thanks
Ron.
The Answer i got
"its pretty simple really - BF only pay out on winning bets - if you have a RED figure and the nag/team wins, only then do you lose it - until that point, you can do what you want!
So if you use your whole bank £200 to back at say 3.0 your liability is £200. Expected profit is £400.
BF only pay out on winning bets. No money is TAKEN until end of the event.
In essence you can LAY any price that takes up the £400 profit AND your £200 liability (ie £600).
in this way, you can put LAY bets in OVER the price of your original back bet until you have no REAL cash in your account to cover the bets.
--------------------------------------------------------------------------------
Last edited by Mullyman; Today at 12:29 AM.
Hope that/this helps
Cheers
Ron