BetTrader Challenge Chat Thread

[munk]

Is it working now?

Yep great thanks, very busy day, shame about that loss

Lesson learnt, I need to use the hedge button, that I'm yet to find.

Have a good look at the trading video, they should help.

I'm actually 1.90 down as one of the horses I used the above method for did actually win making me 10p, however I seem to be getting charged 10% commision on betfair, is that right?!

USA Indiana (US) 1st Jul / 22:45 R3 1m Mdn
Comm Charged 10% On Net winnings of GBP0.1

When it's small amounts of commission the commission %age figure is often out because of rounding errors, nothing to worry about really - 5% of 10p is 0.5p but obviously when that's rounded up it's 1p, which is 10% of 10p, hence the 10% you see.

[quote=Cloverleaves;172672]The ladder looked absolutely terrifying when it was on MY screen, with MY money in the account! (And yet it looks so easy on the videos...) I was reminded of when I first started matched betting, and I practically had to be resuscitated after placing my first few (tiny!) bets, the adrenaline was running so high. How quickly we adapt. But I agree with a previous poster, I shall feel much more comfortable using this with a separate Betfair account - at least the worst that can happen here is I lose the £50, not what's in my other account.
[quote]

Whatever you do just make sure you change the default stake buttons - I will try and write something about this and advertise it prominently. I personally have my stake buttons set to 0.5, 2, 5, 10, 20, 50 with 2 as the default.

Munk, I too got a RAF bonus (£25 for me). I've withdrawn it to bring my starting balance down to £50 to start. Do you think I'll get to keep the £25, or should I expect to have it withdrawn later?

Off to my Training Session! Good luck all.

As Andy said it should be OK to keep it, certainly yes please withdraw it so you're at the same float as everyone else OR perhaps go into the casino where you can probably qualify for the casino bonus too (read t&c first though not sure how much you have to transfer / what max bonus is etc).

YES @SERENA WINNING!!! (sorry watching wimbledon!)

ok, i'm going to have to clarify this one...

My account had £50.37 in it. I decided to use the 37p to start off as a practice on a race with about 30s to go before the start. I entered 37p in the 1st ladder and then glanced at the 2nd ladder and saw that the odds were moving down quickly. So, without thinking about the fact that'd only changed the amount on the 1st ladder I hit the price I wanted on the 2nd ladder which was defaulted to £50 (anyone who hasn't used bet trader yet will you please please please set the defaults to something low like £2!!!). I quickly realised what I'd done and the race started. As I'd used my £50 and the account was empty (apart from the 37p) I didn't know what to do and the horses odds were dropping very fast (it was the favourite) so I left it. Unfortunately, the horse came 3rd! Tom then mentioned on the chatbox that I could have laid because my liability would be reduced. doh!

I'm going to redeposit and join in again but of course I can't win any prizes - there is no point in wasting the free bet trader. I might actually be a good trader and don't want this to put me off. My matched betting mistakes have only ever cost me a couple of quid in total so I don't make many mistakes!

The annoying thing is that i've used the grid a few times during the week and made a small profit each time.

Just some points though from my experience:

1. Before using bet trader set the values of the default buttons. YOu can do this from the settings menu at the top. (I think it's called settings - at work so haven't got bet trader handy!)

2. Don't trade after a long day in work - especially when using bet trader for the first time.

3. Don't trade when you are on your own looking after a child. (my 14 month old crying didn't help!)

I will add something as I said above to the Q&A thread about changing the default stake buttons before doing anything else in BetTrader, Etherz also had a very similar experience to you regards not realizing how stake buttons were configured by default.

[Eddie]

Just made 74p on the Serena semi final. Tennis is absolutely mad for trading, great huge percentage swings on every point, and as I haven't got BetTrader working I tried using the ordinary BF webpage interface which was pretty pointless. Great match btw and about 25million matched in all.

Oh yes, what about this Betfair charge for calling the API more than a certain number of times per second, make sure your settings are right on this in BetTrader as I seem to remember something about some newbies getting caught out by this, I might be wrong though and I'll go and look into it some more. One of you will know, I'm sure.

[Oasis]

I will add something as I said above to the Q&A thread about changing the default stake buttons before doing anything else in BetTrader, Etherz also had a very similar experience to you regards not realizing how stake buttons were configured by default.

I was the exact same last night, good idea about the warning. Fortunately I took my back before it got matched.

[munk]

Just made 74p on the Serena semi final. Tennis is absolutely mad for trading, great huge percentage swings on every point, and as I haven't got BetTrader working I tried using the ordinary BF webpage interface which was pretty pointless. Great match btw and about 25million matched in all.

Oh yes, what about this Betfair charge for calling the API more than a certain number of times per second, make sure your settings are right on this in BetTrader as I seem to remember something about some newbies getting caught out by this, I might be wrong though and I'll go and look into it some more. One of you will know, I'm sure.

\there's something about it in the q&a thread I think. You should be OK with the defaults though, BetTrader works out how many requests to send per second to keep it under the 20 threshold. Just keep an eye on the max refreshes per second box (top right in BT under your name etc) and if it turns red then worry about it.

[Eddie]

Yeh I've just looked at the Betfair charges and it's only if you go over 20 per second which I can't see applying to us amateurs unless we screwed up the settings on the program.

[munk]

Yeh I've just looked at the Betfair charges and it's only if you go over 20 per second which I can't see applying to us amateurs unless we screwed up the settings on the program.

I've modified the first post to include an answer to this now. Basically if you're just running one bettrader and it's on the default settings, should be fine but just watch the 'max refreshes per second' box to be safe.

Cheers.

[Grandthrax]

When I run betTrader the times all seem to be an hour out. For instance the 17:45 race on bet Trader is actually the 18:45 at betfair. Is anyone esle finding this? How do i fix it. The count down for each race is an hour early

[munk]

When I run betTrader the times all seem to be an hour out. For instance the 17:45 race on bet Trader is actually the 18:45 at betfair. Is anyone esle finding this? How do i fix it. The count down for each race is an hour early

You can fix that in the settings dialog box as well

[skippa59]

anybody know how to change the horses that are shown in the 3 ladders to other horses

[TakeAwayTuesday]

Better day for me today: +13.74, which puts me up 6.32 overall. I got a bit lucky with some dogs trading early evening. A warning to anyone though, the lack of liquidity makes the odds dance around. It worked in my favour tonight, but it can really hurt you also, so you might want to just watch a couple before moving onto small stakes.

Sorry to hear a couple of people wiped out. Perhaps carry on with small stakes for your own "enjoyment" and we can run another challenge later in the year (though we not get the prizes)?

I won't be do anything tomorrow, and may miss Sat also, so will have some catching up to do I guess.

Good luck all.