Income from betting exchanges - Page 19

Scripophilist · #**181** (**permalink**) 07-17-2005, 08:46 PM

We recently added charting to Bet Angel. This is just one of a host of new features. You can now use TA and similar styles to the conventional financial markets. Golden crosses seem to work well.

http://www.optic.ltd.uk/tutorials/charting.htm

johnson · #**182** (**permalink**) 07-27-2005, 07:39 PM

Hi Scripophilist

I have followed your probability website in the past and have recently come across Betangel.com. It looks fantastic and I am very excited about using the software as I believe it will improve my trading on betfair substantially.

In the past I have made good money on cricket (esp. test matches.) However, having had no background in financial trading I am a little lost by the finer techniques of your charting software - all of my trades were across a longer time frame based on my deep understanding of how cricket matches unfold.

Can you recommend any books (most likely financial trading books) which introduce this topic.
Eg. Timing trades, stop losses, risk/return ratio - basic trading strategies

Is this the equivalent of technical analysis? (or am I way off the mark)

Maybe I am over complicating and it is just a case of backing high/laying low!!!

Any advice would be much appreciated

Cheers
Alex

Scripophilist · #**183** (**permalink**) 07-28-2005, 10:07 AM

Each market on Betfair has its own ripples and features so we designed Bet Angel to try and reflect that. On the cricket you would probably using the offsetting and trailing stop to best use. You could lay or back a team and Bet Angel would automatically take the corresponding position and manage it by stopping you out if you position went against you or pulling up your stop limit if you moved into profit. A lot of people set it running and just walking away and do something else.

If you use the charting on the horse racing markets it will give you excellent information in terms of what is happening in the market. It plots volume and price range, momentum and so on so you can clearly see where the odds are heading and take advantage of that movement.

I can't really recommend any books but certainly the short term stuff using the charing is more akin to technical analysis. I know there are some red hot S&P mini traders using the charts on the horse racing market.

I have my own styles on the market and have happily using them for ages. The software is just an evolution of that. Because of the speed and ease of use it helps me trade much better than the average user of the exchange.

johnson · #**184** (**permalink**) 07-28-2005, 01:34 PM

So for horse racing, as the demo on the website suggests, is it just a case of watching when the book is 'lop sided' for want of a better word and then lying/backing depending on the situation. Surely it cannot be as simple as that.

I do understand that fierce concentration and speed of judgement is required also, but is that basically the idea.

Regards

Johnson

Scripophilist · #**185** (**permalink**) 07-29-2005, 07:30 AM

It would be nice to think it was that easy but it isn't. Just like normal trading there are good and bad things trade and a variety of positions as well. I don't know if you are using any software but once you do that changes your perspective as well.

Ferru · #**186** (**permalink**) 11-27-2007, 06:10 PM

Speaking of books, has anyone read Peter Webb's book, called Profitable Exchange Trading (http://www.amazon.co.uk/Profitable-E...p/1843440288)?

I considered buying it, but couldn't find any reviews.

Regards

Jeff

Quote:

Originally Posted by Pip

I attended the first course last Nov. At the risk of embarrassing Peter, the best way I can comment on it is to quote from an email I sent him shortly thereafter:

"I have never been on a course before where the presenter was so enthusiastic about his subject. Not only did it shine through, but it never faltered even into the two hours of extra time and beyond.

"You may be interested to know that I have put your principles to work immediately, and over the weekend and today had 13/13 winners!! Only £2 stakes, so most of the winnings are in pence (9 under 10p), but an excellent learning exercise, and most encouraging, although obviously some of that is down to good luck rather than good judgment!

"One of the things that has particularly struck me is the wisdom of taking tiny chunks out of the market regularly, even at the lowest of odds. Previously I had never even considered going for one tick, especially at low odds, seduced as I was by the large gains apparently offered at long odds - now I know better!"

The only proviso I would make is that you 'must' learn how Betfair works, especially backing and laying, before you go on the course, otherwise you are in danger of being left behind before the first coffee break!

A good introduction is the book 'Lay, back and think of winning' by Nigel Paul. Digest that and you'll have no problem keeping up with the course.

shading-scars · #**187** (**permalink**) 12-17-2007, 03:31 PM

I could never do anything that deals with nothing but betting for my living and a source of income. I have a real job and my betting life is just a hobby between friends and people I meet. As soon as it became a source of income all of the fun would be removed.

chickababes · #**188** (**permalink**) 03-27-2008, 02:37 AM

hello everyone!!!

wallstreeterww · #**189** (**permalink**) 06-12-2008, 05:28 PM

Quote:

Originally Posted by shading-scars

I could never do anything that deals with nothing but betting for my living and a source of income. I have a real job and my betting life is just a hobby between friends and people I meet. As soon as it became a source of income all of the fun would be removed.

Shading, its not an easy living but it can be done. When i kept my discipline as a daytrader i turned 40k into 225k in a year but i got greedy and put it all into penny stock lol and lost it all. In betting just as in daytrading there are the masses as well as the cold hard traders who trade on stats and they also learn to guage the emotion of the herd and make it work for them. Better is essentially the same thing except teh house has a little bigger advantage these days on the spread.

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