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Wednesday, 2 December 2009

Changing The Way I Bet

It has been a few days since my last update. I have decided to stop "betting" and have instead taking up trading! I realise this was a quick change, and I may not have given the betting front much of a chance. The reason I did this was I quickly found out that I could not balance work, home life and following tipsters. As a result, I was missing out on some tips, and it seemed like those I did miss went on to do quite well. At the time, I decided to stop, I was showing a loss of -50 points!

Since then I have been trawling the web, reading blogs and have been trying out trading on Betfair, especially the pre-race horse racing markets. So far it has been very hard work, and I have been using minimal stakes of £2 and £5. I have been trying to get 1 tick profits. Since 26/11/09 I have traded 100 markets, with 71 markets showing a profit, albeit very small amounts. In total I have placed trades to a total of £2946.77. I was very surprised at how quickly this figure built up with £2 stakes. The pleasing thing for me was I have managed to make a profit of £11.76. I think this is an ROI of +0.39%. I have been very cautious and my main aim now is to keep learning which is easier said than done, and concentrating on the figures and flashing lights is quite hard work!

If anyone has any advice for a very very new betfair trader, then please do leave a comment, it will be much appreciated.