BetTrader Challenge Chat Thread

[Cloverleaves]

That's what I find hardest though, how much loss to accept! Especially when you get a sudden 5 tick drop, you're already way down... bail out right there or was it a 'glitch'? Urgh... I actually had this dilemma today trading on spread accounts and really didn't do too well at it at all getting out for a quick loss.

Another of the videos I watched - "Badger" I think it was? - had what I though was a useful tip, as I too find it very hard to know when to bail in general. He said you should always go into a trade with a fixed idea of how much you are willing to lose, and then hedge when you get to that point.

So, for example, if you were trading £10, and were willing to lose 50p on a certain event (race, for example), then you should put your bet on, and hover over the Hedge button (or presumably use the stop-loss tool if you have to go away). If your bet reaches the 50p hedged loss, then you hedge right away, but until that time you just wait to see what happens.

It does require some discipline, as you have to make a positive decision up front and then follow through with it, rather than playing it on the hoof, but again it gives you some guidelines, and if you do think it through in advance (I know, easier said than done!) then it should be more easy to figure out what you'd really be willing to lose on a bet.

[Cloverleaves]

Quick question: those data charges from Betfair for refreshing the data more than 20x per second (I think). I've got my system set on the recommended on (by BetTrader) for avoiding the charges, but it definitely goes slower than on the videos.

Has anyone got their's set up to run as fast as possible? And if so, are you getting data charges, and how much?

Thanks in advance.

Good hunting everyone!

[munk]

Quick question: those data charges from Betfair for refreshing the data more than 20x per second (I think). I've got my system set on the recommended on (by BetTrader) for avoiding the charges, but it definitely goes slower than on the videos.

Has anyone got their's set up to run as fast as possible? And if so, are you getting data charges, and how much?

Thanks in advance.

Good hunting everyone!

If you keep it on the default it should be fine. Keep an eye on the refreshes per second (rps) boxes at the top right of BetTrader - one is for the current rps and one for the maximum rps you've had in that session. If it's well under 20 - say 10 or lower, tweak up the settings so it's higher. I think mine runs on around 12rps on the default setting and that's fine for me. I could tweak it a bit higher but I'm happy enough with it.

I did get an email from Betfair about premium charging though saying that the charge would be £x but since it was my first time they would let me off but to make sure I adjusted any API applications so it came under the 20rps threshold. The charge was A LOT as well for what I'd been doing.

Ok I just checked and the charge was £9.49 which was extortionate for what I'd been doing that day (basically hadn't done anything IIRC, hadn't been trading or whatever, just watching market generally for match betting... ). In hindsight I'm 99% sure the reason I went over the 20rps is becaue I'd run 2 lots of bettrader at the same time - one on laptop and one on main PC - and that had taken me over. I've just made sure since then to be very careful about not running 2 at same time and have been fine since.

[AmeliesDad]

Unfortunately due to work and family commitments I'm hardly ever sat in front of a PC when there are trading opportunities I managed a bit on the tennis but that's because I took the executive decision that a Brit doing well at Wimbledon meant I could watch on company time!

The couple of times I have tried it it has gone okay and I've managed to be green, EXCEPT when I've left a back or lay and been distracted. Every time I've done that I've come back to find I'm nicely in the red! Bah.

My new idea to avoid this, is to at least trade on something I might have had a bet on anyway, whose odds I think might fall long term, and always back before I lay. Then if I get caught out at least what I'm left with is a bet on something I fancied to win! Not much of a safety net I know, but it'll save situations like I have on the cricket (which sounds a lot like munks position!)

[munk]

if I get caught out at least what I'm left with is a bet on something I fancied to win! Not much of a safety net I know, but it'll save situations like I have on the cricket (which sounds a lot like munks position!)

Well... you could look at it another way if you're in a similar position to me right now with effectively a bet on Australia to win - at least if Australia lose your money's been well spent...

[member03030]

Well... you could look at it another way if you're in a similar position to me right now with effectively a bet on Australia to win - at least if Australia lose your money's been well spent...

A good strategy imo, if theres a team/country/player you dislike, but normaly win everything, then you can have an insurance bet/trade.

I am not to keen on Ch***ea, but when Everton scored in the cup final they went from about 5 to 2.3 ish, layed them for £50. So my position was if Everton win the cup i lose my dosh, more than happy. Ch***ea score, trade out and make a few quid...

Sounds very much like your Aussie trade, keep an eye on the weather -

[AmeliesDad]

Well... you could look at it another way if you're in a similar position to me right now with effectively a bet on Australia to win - at least if Australia lose your money's been well spent...

Ah no. Mines on England, and since the odds make it practically pointless redding up I've little choice but to let it ride.

[cripery]

finished work early today - so thought I would up my stakes to a fiver on the horses..

down a fiver so far.... after 4 races..

maybe I need a re-think on this!..

might take a break for now and get in on some of this evening's races.

[AmeliesDad]

I had a little dabble on a race today. I fancied a punt anyway so on my main betfair account I backed it for £30 at 5.1 and queued a lay at 4 for a bit of profit if it won and no loss otherwise.

On my trading account I then tried trading it as the odds moved up and down, I had a few sessions; early on when there wasn't much happening and I queued a bet and waited 10 minutes for it to be taken before laying the opposite bet a tick or 2 lower (set this up automatically in bet trader a couple of times which is quite nice). Then nearer to the off when the odds were jumping about a bit and I had to keep my wits about me but still managed to trade more and more profit. Then in-running when I got caught out and when he lost ended up down 2 quid! I think I could have greened up for a few quid either way with a bit more experience/not leaving it too late/not being greedy

Of course the laid back approach on my main account meant they all got matched and I lost nothing and ended up in a much better position than on the trading account! And could have greened up for more if I'd have been that way inclined! Ce la vie.

I'm right back down to my starting £50 on the trading account now. (EDIT: I'm assuming the £5 liability I have on England cricketers comes to pass)

[Cloverleaves]

Don't laugh, but today I won £3.70 and I am really chuffed! All this was pre-race betting (this evening), and this is the most I have ever won in a single day (I did say don't laugh!). I will try again tomorrow to see if I have maybe improved just a little bit, or whether this was just a fluke.

Good luck all!