New to trading

[Swift]

Right,

I'm going to give up my bot for the now, its lost most of my trading profits sofar(still in profit - yay!)

Essentially that means I shall only be trading weekends, inbetween arbing etc, and I have a seperate account, so if anyone wishes to follow my progress, let me know and i'll probably set up a new diary to track my progress, starting from whenever that is done.

All in all, at the small stakes I trade at for the moment, I can quite easily make £2/3 per race, so given I might do 5-10 per day at the weekend, I am hoping for a fairly consistant progress over the next few weeks.

I had a starting balance of £50, I got that up to ~140 before I tested my bot, and its now back down to the £57 mark(not quite working as planned).

I am aiming for a balance of £200 come the end of january, and come that point, shall do some extrapolation to look into what I can forsee making in the future, to come up with some new achievable, but challenging targets.

Did you start a diary for this in the end? Just had a quick look and couldn't find one, but was wondering how you were getting on?

[DireEmblem]

Nah I gave up(with the diary) and didnt bother writing one really...

I work full time, and any extra time I have had, I've dedicated more to tinkering with betbots(betangel/gruss etc), but havent been able to tailor them as much as I would like. Doing such has kept my profits to a low ~200PCM.

The reason being, is that the bots are more difficult to manipulate to my exact requirements than I originally thought, so for this month I am only going to trade manually, and concentrate back more on mb'ing.

At the end of the month I might then start up a fresh diary from Day 1, and note my progress, as a means to perhaps inspire others, along with trying to help push myself along a little faster.

With regards to trade sizes, I never have a liablility of more than £100, and generally make IRO £5-10 per footy match I trade on, and the same can be said for horses.

That equates to roughly ~ 20 trading events per week(mainly weekends).

Next oppertunity I have time of work, or when there is a lack of activity at the weekend, I might code a Java interface with the Betfair API, so I can fine tune my trades to my will. That way(hopefully) in the future, I can leave a bot trading, with specified limits, while I am at work.

[frankbutcher]

Do you mind me asking what you want this bit to do? I'm intrigued as I've been trying out a trading strategy on the gee-gees that seems to be working ok but I'm not often around in the afternoons. So was just wondering what a bot is capable of really.

[DireEmblem]

Well, there are several example spreadsheets here for you to look at using the Gruss software.

They download the current odds into excel, and you can set formula up to act as a "trigger" to back/lay.

The part I used to struggle with, say with footy for example, is the handler when there are multiple games on at once. That and getting it to ignore the fluctuations after a goal, and then recalculate/back or lay afterwards. Also for Horse Racing, I set a limit on the bet sizes depending on the odds to limit the liability, but on the occasion it made a loss on one event, it could increase the risk on the next bet, in a kind of loss recovery type role. That is the part I need to work on atm.

[sKiTz0]

I'd be interested in the trading diary if you're still thinking about putting one up, from an inspiration point of view. Just testing the water with it myself at the moment and am thinking of opening a second betfair account for trading with a starting balance of £100-£200 to see how I get on.

[LeonardHatred]

I made ~£180 tonight on the Man Utd game - was very lucky as I had the draw at the outset which was never matched - but after the second Bayern goal it was.

I laid a couple of the scores in-game as it seemed inevitable to me.

Also, I do most of my trading on BetDAQ. This mirrors Betfair very closely, although the liquidity is much lower. If you do a fair amount of trading then if you ask them nicely they will give you nice commission rates. I've currently got 2.5% commission, which is very handy.

[sofaking]

A decent night's trading for me too. Backed Man U before kick off and layed them off at 2-0. Layed the draw in the Bordeaux game and backed at 1-0 for profit. Lost a few euro on over 1.5 goals for Bordeaux but overall a nice profit for tonight.
Also backed Rangers and layed them at 2-0.

Lots of Europa league football tomorrow night to look forward to.